WCEO vs. IWM

Last updated Jun 23, 2026

WCEO (Hypatia Women CEO ETF) and IWM (iShares Russell 2000 ETF) are both Small Cap Blend Equities funds. WCEO is actively managed, while IWM is passively managed. Over the past 3 years, WCEO returned 15.15%/yr vs 19.60%/yr for IWM. Their correlation of 0.94 suggests significant overlap in exposure. WCEO charges 0.85%/yr vs 0.19%/yr for IWM.

Performance

WCEO vs. IWM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hypatia Women CEO ETF (WCEO) and iShares Russell 2000 ETF (IWM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WCEO achieves a 12.92% return, which is significantly lower than IWM's 21.64% return.

WCEO

• 1D: -0.05%
• 1M: 3.19%
• YTD: 12.92%
• 6M: 11.06%
• 1Y: 30.87%
• 3Y*: 15.15%
• 5Y*: —
• 10Y*: —

IWM

• 1D: 0.88%
• 1M: 4.83%
• YTD: 21.64%
• 6M: 18.08%
• 1Y: 44.01%
• 3Y*: 19.60%
• 5Y*: 6.77%
• 10Y*: 11.68%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WCEO vs. IWM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
WCEO Hypatia Women CEO ETF	12.92%	9.77%	8.28%	10.51%
IWM iShares Russell 2000 ETF	21.64%	12.66%	11.38%	14.71%

Correlation

The correlation between WCEO and IWM is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jan 9, 2023	0.94

The correlation between WCEO and IWM has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.

WCEO vs. IWM - Sectors Allocation Comparison

Sectors	WCEO	IWM
Technology	18.3%	20.1%
Financial Services	16.1%	15.5%
Consumer Cyclical	14.5%	8.0%
Industrials	13.0%	17.3%
Healthcare	10.6%	15.6%
Energy	6.8%	6.0%
Real Estate	6.0%	5.5%
Basic Materials	5.2%	4.5%
Communication Services	4.5%	1.7%
Consumer Defensive	3.0%	2.0%
Utilities	2.0%	3.1%

Return for Risk

WCEO vs. IWM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WCEO

WCEO Risk / Return Rank: 70
WCEO Sharpe Ratio Rank: 64
WCEO Sortino Ratio Rank: 68
WCEO Omega Ratio Rank: 58
WCEO Calmar Ratio Rank: 85
WCEO Martin Ratio Rank: 75

IWM

IWM Risk / Return Rank: 72
IWM Sharpe Ratio Rank: 72
IWM Sortino Ratio Rank: 70
IWM Omega Ratio Rank: 63
IWM Calmar Ratio Rank: 80
IWM Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WCEO vs. IWM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hypatia Women CEO ETF (WCEO) and iShares Russell 2000 ETF (IWM). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WCEO	IWM	Difference
Sharpe ratio: Return per unit of total volatility	2.04	2.24	-0.21
Sortino ratio: Return per unit of downside risk	3.00	3.05	-0.05
Omega ratio: Gain probability vs. loss probability	1.35	1.36	-0.02
Calmar ratio: Return relative to maximum drawdown	4.46	4.01	+0.45
Martin ratio: Return relative to average drawdown	13.87	14.19	-0.32

WCEO vs. IWM - Sharpe Ratio Comparison

The current WCEO Sharpe Ratio is 2.04, which is comparable to the IWM Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of WCEO and IWM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WCEO vs. IWM - Drawdown Comparison

The maximum WCEO drawdown since its inception was -25.88%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for WCEO and IWM.

Drawdown Indicators

	WCEO	IWM	Difference
Max Drawdown Largest peak-to-trough decline	-25.88%	-59.05%	+33.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.96%	-11.03%	+4.07%
Max Drawdown (3Y) Largest decline over 3 years	-25.88%	-27.50%	+1.62%
Max Drawdown (5Y) Largest decline over 5 years	—	-31.91%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.13%	—
Current Drawdown Current decline from peak	-0.56%	0.00%	-0.56%
Average Drawdown Average peak-to-trough decline	-5.45%	-10.75%	+5.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	3.11%	-0.88%

Volatility

WCEO vs. IWM - Volatility Comparison

The current volatility for Hypatia Women CEO ETF (WCEO) is 3.75%, while iShares Russell 2000 ETF (IWM) has a volatility of 6.47%. This indicates that WCEO experiences smaller price fluctuations and is considered to be less risky than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WCEO	IWM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	6.47%	-2.72%
Volatility (6M) Calculated over the trailing 6-month period	10.43%	14.28%	-3.85%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	19.75%	-4.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.08%	22.60%	-4.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	23.09%	-5.01%

WCEO vs. IWM - Expense Ratio Comparison

WCEO has a 0.85% expense ratio, which is higher than IWM's 0.19% expense ratio.

Dividends

WCEO vs. IWM - Dividend Comparison

WCEO's dividend yield for the trailing twelve months is around 0.57%, less than IWM's 0.89% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWM iShares Russell 2000 ETF	0.89%	1.04%	1.15%	1.35%	1.48%	0.94%	1.04%	1.26%	1.40%	1.26%	1.38%	1.54%
WCEO Hypatia Women CEO ETF	0.57%	0.64%	0.88%	0.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both WCEO and IWM in my portfolio?

WCEO and IWM have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WCEO or IWM?

IWM has higher volatility (6.47%) compared to WCEO (3.75%). In terms of maximum drawdown, WCEO dropped -25.88% vs IWM's -59.05%.

Which ETF is better, WCEO or IWM?

On 3-year performance, IWM leads with 19.60% vs 15.15% for WCEO. On fees, IWM is cheaper at 0.19% per year. On volatility, WCEO has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, WCEO or IWM?

Over the 3-year period, IWM has performed better with a 19.60% return vs 15.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, WCEO or IWM?

IWM is cheaper with a 0.19% expense ratio, compared with 0.85% for WCEO.

Which ETF pays a higher dividend yield, WCEO or IWM?

IWM has the higher dividend yield at 0.89%, compared with 0.57% for WCEO.

What is the main difference between WCEO and IWM?

They also come from different issuers: Hypatia Capital and iShares. Their fees differ too: 0.85% for WCEO and 0.19% for IWM.

Which has better risk-adjusted returns?

IWM currently has the higher Sharpe Ratio (2.24 vs 2.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.