IWM vs SPY
Comparison between ISHARES RUSSELL 2000 ETF (IWM, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
5-Year PerformanceSPY has outperformed IWM, delivering a return of +13.0% compared to +6.4%
IWM vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
IWM
$81B
Winner
SPY
$784B
Expense Ratio
IWM
0.19%
Winner
SPY
0.09%
Max Drawdown
IWM
59.89%
Winner
SPY
56.47%
Sharpe Ratio
Winner
IWM
1.71
SPY
1.54
5Y Beta
IWM
1.10
Winner
SPY
1.00
P/E Ratio
Winner
IWM
-102.78
SPY
27.62
Forward P/E
Winner
IWM
14.29
SPY
21.11
5Y Dividends CAGR
Winner
IWM
6.40%
SPY
6.00%
5Y EPS CAGR
IWM
11.27%
Winner
SPY
25.30%
Debt to Equity
IWM
43.72%
Winner
SPY
31.11%
P/S Ratio
Winner
IWM
1.23
SPY
3.49
P/B Ratio
Winner
IWM
2.09
SPY
5.30
IWM vs SPY - Holdings Comparison
IWM and SPY have 2 common holdings. Overlap is -0.65%
IWM's top 25 holdings weight is 9.52%. SPY's top 25 holdings weight is 51.24%.
| Rank | IWM | SPY |
|---|---|---|
| #1 | CREDO TECHNOLOGY GROUP HOLDING LTD (CRDO) - 0.86% | NVIDIA CORP (NVDA) - 7.81% |
| #2 | RUSSELL 2000 EMINI CME DEC 25 (n/a) - 0.68% | APPLE INC (AAPL) - 6.81% |
| #3 | BLACKROCK CASH FUNDS TREASURY SL AGENCY (n/a) - 0.54% | MICROSOFT CORP (MSFT) - 4.53% |
| #4 | IONQ INC CLASS A (IONQ) - 0.50% | AMAZON.COM INC (AMZN) - 3.72% |
| #5 | BLOOM ENERGY CORP CLASS A (BE) - 0.49% | ALPHABET INC CLASS A (GOOGL) - 3.39% |
| #6 | FABRINET (FN) - 0.46% | BROADCOM INC (AVGO) - 2.77% |
| #7 | KRATOS DEFENSE & SECURITY SOLUTIONS INC (KTOS) - 0.42% | ALPHABET INC CLASS C (GOOG) - 2.72% |
| #8 | COEUR MINING INC (CDE) - 0.39% | META PLATFORMS INC CLASS A (META) - 2.03% |
| #9 | RAMBUS INC (RMBS) - 0.37% | MICRON TECHNOLOGY INC (MU) - 1.78% |
| #10 | n/a (HIMS) - 0.37% | TESLA INC (TSLA) - 1.76% |
| #11 | OKLO INC CLASS A SHARES (OKLO) - 0.35% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.41% |
| #12 | ECHOSTAR CORP CLASS A (SATS) - 0.35% | JPMORGAN CHASE & CO (JPM) - 1.38% |
| #13 | STERLING INFRASTRUCTURE INC (STRL) - 0.35% | ELI LILLY AND CO (LLY) - 1.38% |
| #14 | n/a (CWAN) - 0.34% | ADVANCED MICRO DEVICES INC (AMD) - 1.28% |
| #15 | NEXTRACKER INC ORDINARY SHARES CLASS A (NXT) - 0.34% | EXXON MOBIL CORP (XOM) - 0.92% |
| #16 | ENSIGN GROUP INC (ENSG) - 0.33% | JOHNSON & JOHNSON (JNJ) - 0.88% |
| #17 | CHART INDUSTRIES INC (GTLS) - 0.32% | VISA INC CLASS A (V) - 0.87% |
| #18 | SPX TECHNOLOGIES INC (SPXC) - 0.32% | INTEL CORP (INTC) - 0.85% |
| #19 | UMB FINANCIAL CORP (UMBF) - 0.32% | WALMART INC (WMT) - 0.82% |
| #20 | INTERDIGITAL INC (IDCC) - 0.31% | CISCO SYSTEMS INC (CSCO) - 0.73% |
| #21 | COMMVAULT SYSTEMS INC (CVLT) - 0.30% | LAM RESEARCH CORP (LRCX) - 0.71% |
| #22 | ADVANCED ENERGY INDUSTRIES INC (AEIS) - 0.21% | APPLIED MATERIALS INC (AMAT) - 0.70% |
| #23 | MERITAGE HOMES CORP (MTH) - 0.20% | CATERPILLAR INC (CAT) - 0.68% |
| #24 | MOOG INC CLASS A (MOG-A) - 0.20% | COSTCO WHOLESALE CORP (COST) - 0.68% |
| #25 | RIOT PLATFORMS INC (RIOT) - 0.20% | MASTERCARD INC CLASS A (MA) - 0.63% |
| Total Holdings | 1795 | 505 |
IWM vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
Winner
IWM
+4.30%
SPY
-1.41%
3M
Winner
IWM
+19.54%
SPY
+12.54%
6M
Winner
IWM
+17.89%
SPY
+6.77%
1Y
Winner
IWM
+39.77%
SPY
+22.18%
5Y(CAGR)
IWM
+6.37%
Winner
SPY
+13.04%
10Y(CAGR)
IWM
+11.64%
Winner
SPY
+15.54%
Max(CAGR)
Winner
IWM
+8.83%
SPY
+8.44%
IWM vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | IWM | SPY |
|---|---|---|
| 2026 | +19.75% | +7.90% |
| 2025 | +12.57% | +18.00% |
| 2024 | +12.06% | +25.59% |
| 2023 | +17.49% | +26.72% |
| 2022 | -21.49% | -18.64% |
| 2021 | +16.05% | +30.52% |
| 2020 | +19.95% | +17.28% |
| 2019 | +24.69% | +31.09% |
| 2018 | -11.94% | -5.24% |
| 2017 | +14.02% | +20.78% |
| 2016 | +24.49% | +13.59% |
| 2015 | -3.91% | +1.31% |
| 2014 | +6.18% | +14.56% |
| 2013 | +34.73% | +29.00% |
| 2012 | +14.79% | +14.17% |
| 2011 | -6.07% | +0.85% |
| 2010 | +23.88% | +13.14% |
| 2009 | +26.00% | +22.67% |
| 2008 | -33.48% | -36.25% |
| 2007 | -1.92% | +5.32% |
| 2006 | +15.96% | +13.85% |
| 2005 | +5.83% | +5.32% |
| 2004 | +16.79% | +10.75% |
| 2003 | +43.62% | +24.18% |
| 2002 | -20.74% | -22.42% |
| 2001 | +5.46% | -10.13% |
| 2000 | +5.62% | -8.84% |
| 1999 | N/A | +8.61% |
IWM vs SPY Drawdown Comparison
The maximum drawdown for IWM was -59.03%, occurring on Mar 9, 2009. Recovery took 908 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
The current IWM drawdown is -0.50%. The current SPY drawdown is -3.22%.
| Rank | IWM | SPY |
|---|---|---|
| #1 | -59.03% Jul 9, 2007 - Feb 11, 2011 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -41.13% Aug 31, 2018 - Nov 9, 2020 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -38.67% Jul 17, 2000 - Oct 13, 2003 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -31.91% Nov 8, 2021 - Nov 6, 2024 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -28.92% Apr 29, 2011 - Sep 13, 2012 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -27.50% Nov 25, 2024 - Sep 11, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -25.68% Jun 23, 2015 - Nov 11, 2016 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -14.19% Apr 5, 2004 - Nov 5, 2004 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -14.14% May 8, 2006 - Nov 14, 2006 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -12.70% Jul 3, 2014 - Dec 22, 2014 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -12.14% Dec 28, 2004 - Jul 5, 2005 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -11.03% Jan 22, 2026 - Apr 15, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -10.72% Sep 14, 2012 - Jan 2, 2013 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -9.60% Aug 2, 2005 - Dec 1, 2005 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -9.55% Mar 15, 2021 - Nov 1, 2021 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between IWM and SPY is 0.97 which considered as a very strong positive correlation - the stocks move almost identically together.
0.97
-101
Dividend Comparison (1999 - 2026)
IWM vs SPY dividend yield comparison.
| Year | IWM | SPY |
|---|---|---|
| 2026 | 0.38% | 0.50% |
| 2025 | 1.04% | 1.07% |
| 2024 | 1.15% | 1.21% |
| 2023 | 1.35% | 1.40% |
| 2022 | 1.48% | 1.65% |
| 2021 | 0.94% | 1.20% |
| 2020 | 1.04% | 1.52% |
| 2019 | 1.26% | 1.75% |
| 2018 | 1.40% | 2.04% |
| 2017 | 1.26% | 1.80% |
| 2016 | 1.38% | 2.03% |
| 2015 | 1.54% | 2.06% |
| 2014 | 1.26% | 1.87% |
| 2013 | 1.23% | 1.81% |
| 2012 | 2.00% | 2.18% |
| 2011 | 1.40% | 2.05% |
| 2010 | 1.14% | 1.80% |
| 2009 | 1.15% | 1.95% |
| 2008 | 1.78% | 3.02% |
| 2007 | 1.02% | 1.85% |
| 2006 | 1.07% | 1.73% |
| 2005 | 1.32% | 1.73% |
| 2004 | 0.92% | 1.82% |
| 2003 | 0.83% | 1.47% |
| 2002 | 1.31% | 1.70% |
| 2001 | 1.08% | 1.25% |
| 2000 | 0.89% | 1.15% |
| 1999 | 0.00% | 0.24% |
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