XSHQ vs. IWM
XSHQ (Invesco S&P SmallCap Quality ETF) and IWM (iShares Russell 2000 ETF) are both exchange-traded funds - XSHQ is a Quality Factor fund tracking the S&P SmallCap 600 Quality Index, while IWM is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 5 years, XSHQ returned 7.26%/yr vs 6.99%/yr for IWM. Their correlation of 0.87 means they have usually moved in the same direction. XSHQ charges 0.29%/yr vs 0.19%/yr for IWM.
Performance
XSHQ vs. IWM - Performance Comparison
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Returns By Period
In the year-to-date period, XSHQ achieves a 14.76% return, which is significantly lower than IWM's 18.79% return.
XSHQ
- 1D
- -0.08%
- 1M
- 0.52%
- 6M
- 11.29%
- YTD
- 14.76%
- 1Y
- 20.29%
- 3Y*
- 9.48%
- 5Y*
- 7.26%
- 10Y*
- —
- ALL TIME*
- 8.92%
IWM
- 1D
- -0.48%
- 1M
- -2.14%
- 6M
- 12.62%
- YTD
- 18.79%
- 1Y
- 36.90%
- 3Y*
- 15.11%
- 5Y*
- 6.99%
- 10Y*
- 10.70%
- ALL TIME*
- 8.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $6.67B | $6.32B | $7.45B | |
| $7.28M | $3.86M | $2.26M |
XSHQ vs. IWM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
XSHQ Invesco S&P SmallCap Quality ETF | 14.76% | 0.89% | 7.49% | 23.88% | -15.01% | 23.99% | 11.81% | 17.37% | -6.11% | 7.18% |
IWM iShares Russell 2000 ETF | 18.79% | 12.66% | 11.38% | 16.83% | -20.48% | 14.54% | 20.03% | 25.39% | -11.12% | 12.74% |
Correlation
The correlation between XSHQ and IWM is 0.85, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.91 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 24, 2017 | 0.87 |
The correlation between XSHQ and IWM has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.
XSHQ vs. IWM - Sectors Allocation Comparison
Sectors
XSHQ
IWM
Financial Services
Technology
Industrials
Consumer Cyclical
Healthcare
Energy
Communication Services
Basic Materials
Consumer Defensive
Real Estate
Utilities
-
Financial Services
XSHQ
IWM
Technology
XSHQ
IWM
Industrials
XSHQ
IWM
Consumer Cyclical
XSHQ
IWM
Healthcare
XSHQ
IWM
Energy
XSHQ
IWM
Communication Services
XSHQ
IWM
Basic Materials
XSHQ
IWM
Consumer Defensive
XSHQ
IWM
Real Estate
XSHQ
IWM
Utilities
XSHQ
-
IWM
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Return for Risk
XSHQ vs. IWM — Risk / Return Rank
XSHQ
IWM
XSHQ vs. IWM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco S&P SmallCap Quality ETF (XSHQ) 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.
| XSHQ | IWM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.30 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 3.11 | -1.32 |
| Martin ratioReturn relative to average drawdown | 4.91 | 11.02 | -6.11 |
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Drawdowns
XSHQ vs. IWM - Drawdown Comparison
The maximum XSHQ drawdown since its inception was -38.33%, smaller than the maximum IWM drawdown of -59.05%. Use the drawdown chart below to compare losses from any high point for XSHQ and IWM.
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Drawdown Indicators
| XSHQ | IWM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.33% | -59.05% | +20.72% |
Max Drawdown (1Y)Largest decline over 1 year | -10.27% | -11.03% | +0.76% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | -27.50% | +0.16% |
Max Drawdown (5Y)Largest decline over 5 years | -27.34% | -31.91% | +4.57% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.13% | — |
Current DrawdownCurrent decline from peak | -0.55% | -3.08% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -9.19% | -10.71% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.73% | 3.11% | +0.62% |
Volatility
XSHQ vs. IWM - Volatility Comparison
Invesco S&P SmallCap Quality ETF (XSHQ) has a higher volatility of 4.23% compared to iShares Russell 2000 ETF (IWM) at 3.82%. This indicates that XSHQ's price experiences larger fluctuations and is considered to be riskier than IWM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| XSHQ | IWM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.82% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 14.12% | -2.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.30% | 19.41% | -2.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.06% | 22.48% | -1.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.00% | 23.01% | -0.01% |
XSHQ vs. IWM - Expense Ratio Comparison
XSHQ has a 0.29% expense ratio, which is higher than IWM's 0.19% expense ratio.
Dividends
XSHQ vs. IWM - Dividend Comparison
XSHQ's dividend yield for the trailing twelve months is around 1.18%, more than IWM's 0.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWM iShares Russell 2000 ETF | 0.91% | 1.04% | 1.15% | 1.35% | 1.48% | 0.94% | 1.04% | 1.26% | 1.40% | 1.26% | 1.38% | 1.54% |
XSHQ Invesco S&P SmallCap Quality ETF | 1.18% | 1.48% | 1.18% | 1.15% | 2.02% | 1.25% | 1.24% | 1.11% | 1.16% | 0.60% | 0.00% | 0.00% |
Frequently Asked Questions
XSHQ and IWM have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
XSHQ has higher volatility (4.23%) compared to IWM (3.82%). In terms of maximum drawdown, XSHQ dropped -38.33% vs IWM's -59.05%.
On 5-year performance, XSHQ leads with 7.26% vs 6.99% for IWM. On fees, IWM is cheaper at 0.19% per year. On volatility, IWM has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, XSHQ has performed better with a 7.26% return vs 6.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWM is cheaper with a 0.19% expense ratio, compared with 0.29% for XSHQ.
XSHQ has the higher dividend yield at 1.18%, compared with 0.91% for IWM.
XSHQ is categorized as Quality Factor, while IWM is Small Cap Blend Equities. XSHQ tracks S&P SmallCap 600 Quality Index, while IWM tracks Russell 2000 Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.29% for XSHQ and 0.19% for IWM.
IWM currently has the higher Sharpe Ratio (1.77 vs 1.06), 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.
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