Benchmark research · Russell 2000 Small Caps
ETFs and Stocks That Consistently Outperformed IWM (Russell 2000 Small Caps)
Any investment can look great over a single hand-picked timeframe. To find what truly kept ahead of IWM (iShares Russell 2000 ETF), we screened IWM against the entire market of over 10,000 stocks and ETFs across 8 different time windows from 1 month to 10 years, including reinvested dividends. A contender had to come out ahead in both the short term and the long term to make the list. Data as of October 20, 2026.
Compare the entire market against IWM live →Key findings
- How hard it was to top IWM: Across over 10,000 stocks and ETFs screened, 391 of 957 eligible ETFs, or 41%, and 477 of 1,502 eligible stocks, or 32%, outperformed IWM in at least 3 of 5 short-term and 2 of 3 long-term periods. A smaller group held up in nearly every window: 183 ETFs and 214 stocks outperformed in every long-term period and all but one short-term period.
- Who came out ahead across the three groups:
- Popular alternatives: VOO, SPY, and VTI outperformed in all 5 short-term and all 3 long-term periods, as did QQQ in 4 of 5 short-term and all 3 long-term periods. Among small-cap comparisons, SCHA and IJR cleared the bar with 5 of 5 short-term and 2 of 3 long-term periods, while IWF fell short with 2 of 5 short-term periods despite 3 of 3 long-term periods. No same-index funds were excluded.
- Top ETFs: Broad-market and technology funds led the displayed group, with 7 broad-market and 5 technology ETFs among the top ETFs. RSPT, FXL, and CIBR each outperformed in all 5 short-term and all 3 long-term periods, as did broad-market fund ONEQ.
- Top stocks: 477 stocks made the consistency cut. The standout stocks span several sectors: healthcare names NTRA and LLY, technology company FTNT, and industrials company BWLP each outperformed in all 5 short-term and all 3 long-term periods.
- The risk trade-off: Over 5 years, the top ETFs had median volatility of 21.5%, similar to IWM's 22.4%, and all 15 had higher Sharpe ratios than IWM. The top stocks were much bumpier, with median volatility of 44.6%, but all 10 also had higher Sharpe ratios than the benchmark.
How popular alternatives compare
Well-known funds and stocks investors often compare against IWM, sorted by long-term periods outperformed, then short-term.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | ||
| IWM iShares Russell 2000 ETF (benchmark) | — | −3.4% | −5.4% | −0.1% | +11.6% | +12.3% | +71.3% | +29.0% | +158% | 22.4% | 0.34 |
| VOO Made the listVanguard S&P 500 ETF | 5/5 short3/3 longAll-weather | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.7% | +82.3% | +324% | 16.9%0.8× IWM | 0.80 |
| SPY Made the listState Street SPDR S&P 500 ETF | 5/5 short3/3 longAll-weather | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1%0.8× IWM | 0.79 |
| VTI Made the listVanguard Morningstar Total Stock Market ETF | 5/5 short3/3 longAll-weather | −0.8% | +3.2% | +8.3% | +13.1% | +15.2% | +87.9% | +72.6% | +302% | 17.5%0.8× IWM | 0.71 |
| QQQ Made the listInvesco QQQ Trust, Series 1 | 4/5 short3/3 longAll-weather | −3.2% | +3.2% | +11.2% | +17.4% | +17.9% | +106% | +97.2% | +553% | 23.0%1.0× IWM | 0.71 |
| IWF Fell shortiShares Russell 1000 Growth ETF | 2/5 short3/3 long | −3.0% | +2.6% | +3.3% | +4.1% | +4.0% | +87.7% | +74.1% | +416% | 21.8%1.0× IWM | 0.62 |
| SCHA Made the listSchwab U.S. Small-Cap ETF | 5/5 short2/3 long | −2.8% | −3.6% | +1.1% | +13.9% | +16.5% | +73.1% | +33.9% | +165% | 22.0%1.0× IWM | 0.38 |
| IJR Made the listiShares Core S&P Small-Cap ETF | 5/5 short2/3 long | −1.1% | −4.8% | +1.8% | +14.4% | +16.7% | +60.8% | +31.5% | +164% | 21.1%0.9× IWM | 0.37 |
| VB Made the listVanguard Morningstar Small-Cap ETF | 4/5 short2/3 long | −0.8% | −1.8% | +1.3% | +11.2% | +13.7% | +66.8% | +35.2% | +179% | 20.6%0.9× IWM | 0.40 |
| MDY Made the listState Street SPDR S&P MIDCAP 400 ETF Trust | 3/5 short2/3 long | −0.2% | −2.2% | +0.1% | +9.9% | +13.1% | +58.0% | +39.8% | +172% | 19.6%0.9× IWM | 0.44 |
| IWN Fell shortiShares Russell 2000 Value ETF | 5/5 short1/3 long | −2.3% | −4.1% | +2.4% | +16.6% | +19.1% | +73.2% | +38.6% | +147% | 21.1%0.9× IWM | 0.42 |
| AVUV Fell shortAvantis U.S. Small Cap Value ETF | 5/5 short1/3 long | −0.4% | −2.6% | +3.0% | +18.4% | +24.4% | +70.2% | +64.9% | — | 22.1%1.0× IWM | 0.56 |
| VBK Fell shortVanguard Morningstar Small-Cap Growth ETF | 2/5 short1/3 long | −2.6% | −3.0% | −1.5% | +8.7% | +9.7% | +66.3% | +17.3% | +177% | 23.7%1.1× IWM | 0.25 |
ETFs that consistently outperformed IWM
Top 15 by long-term periods outperformed, then short-term, then by 10Y return. Green cells outperformed IWM in that period. Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Expense | Assets | |||
| — | IWM iShares Russell 2000 ETF (benchmark) | — | −3.4% | −5.4% | −0.1% | +11.6% | +12.3% | +71.3% | +29.0% | +158% | 22.4% | 0.34 | ||
| 1 | RSPT TechnologyInvesco S&P 500 Equal Weight Technology ETF | 5/5 short3/3 longAll-weather | −2.8% | +8.4% | +24.4% | +41.0% | +42.9% | +141% | +119% | +572% | 25.1%1.1× IWM | 0.75 | 0.40% | $6.1B |
| 2 | FXL TechnologyFirst Trust Technology AlphaDEX Fund | 5/5 short3/3 longAll-weather | −1.5% | +10.4% | +18.9% | +28.7% | +28.3% | +103% | +68.2% | +523% | 26.2%1.2× IWM | 0.53 | 0.60% | $2.7B |
| 3 | CIBR TechnologyFirst Trust Nasdaq Cybersecurity ETF | 5/5 short3/3 longAll-weather | −2.6% | +9.4% | +49.9% | +42.4% | +31.9% | +127% | +93.2% | +454% | 26.1%1.2× IWM | 0.64 | 0.58% | $17B |
| 4 | ONEQ Broad MarketFidelity Nasdaq Composite Index ETF | 5/5 short3/3 longAll-weather | −2.5% | +3.7% | +8.6% | +14.4% | +15.9% | +107% | +83.6% | +453% | 22.5%1.0× IWM | 0.65 | 0.21% | $11B |
| 5 | DXJ InternationalWisdomTree Japan Hedged Equity Fund | 5/5 short3/3 longAll-weather | 0.0% | +4.7% | +9.9% | +25.0% | +36.4% | +127% | +225% | +428% | 19.1%0.9× IWM | 1.34 | 0.48% | $8.1B |
| 6 | SPYG Broad MarketState Street SPDR Portfolio S&P 500 Growth ETF | 5/5 short3/3 longAll-weather | −2.4% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.5% | +418% | 21.5%1.0× IWM | 0.69 | 0.04% | $57B |
| 7 | VOOG Broad MarketVanguard S&P 500 Growth ETF | 5/5 short3/3 longAll-weather | −2.3% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.0% | +416% | 21.6%1.0× IWM | 0.69 | 0.07% | $28B |
| 8 | IVW Broad MarketiShares S&P 500 Growth ETF | 5/5 short3/3 longAll-weather | −2.4% | +4.0% | +9.8% | +13.8% | +15.7% | +109% | +85.3% | +413% | 21.5%1.0× IWM | 0.68 | 0.18% | $77B |
| 9 | IUSG Broad MarketiShares Core S&P U.S. Growth ETF | 5/5 short3/3 longAll-weather | −2.3% | +3.8% | +9.4% | +13.9% | +15.9% | +107% | +83.7% | +405% | 21.2%0.9× IWM | 0.68 | 0.04% | $33B |
| 10 | UGA CommoditiesUnited States Gasoline Fund, LP | 5/5 short3/3 longAll-weather | −0.9% | +16.9% | +40.5% | +130% | +130% | +111% | +221% | +399% | 35.1%1.6× IWM | 0.84 | 1.08% | $167M |
| 11 | SKYY TechnologyFirst Trust Cloud Computing ETF | 5/5 short3/3 longAll-weather | −2.9% | +19.5% | +37.0% | +27.8% | +21.5% | +122% | +43.4% | +396% | 31.4%1.4× IWM | 0.39 | 0.60% | $3.3B |
| 12 | TDIV TechnologyFirst Trust NASDAQ Technology Dividend Index Fund | 5/5 short3/3 longAll-weather | −1.7% | +5.3% | +8.6% | +17.7% | +15.2% | +117% | +111% | +388% | 21.3%0.9× IWM | 0.81 | 0.50% | $4.4B |
| 13 | EQL Broad MarketALPS Equal Sector Weight ETF | 5/5 short3/3 longAll-weather | +1.7% | +3.0% | +5.1% | +12.5% | +14.2% | +76.7% | +88.1% | +387% | 14.5%0.6× IWM | 0.94 | 0.19% | $781M |
| 14 | OEF Broad MarketiShares S&P 100 ETF | 5/5 short3/3 longAll-weather | −1.1% | +4.6% | +10.4% | +12.6% | +14.8% | +98.4% | +94.8% | +367% | 17.8%0.8× IWM | 0.84 | 0.20% | $20B |
| 15 | IOO InternationaliShares Global 100 ETF | 5/5 short3/3 longAll-weather | −1.1% | +4.6% | +9.3% | +14.2% | +19.9% | +105% | +107% | +361% | 17.2%0.8× IWM | 0.94 | 0.40% | $9.2B |
Stocks that consistently outperformed IWM
Top 10 by long-term periods outperformed, then short-term, then by 10Y return. Individual stocks swing far more than funds; check the volatility column.
| # | Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Company | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpe ratiohigher is better | Market cap | |||
| — | IWM iShares Russell 2000 ETF (benchmark) | — | −3.4% | −5.4% | −0.1% | +11.6% | +12.3% | +71.3% | +29.0% | +158% | 22.4% | 0.34 | |
| 1 | NTRA Medical - Diagnostics & ResearchNatera, Inc. | 5/5 short3/3 longAll-weather | +9.5% | +54.6% | +95.4% | +77.4% | +115% | +896% | +261% | +3,841% | 57.6%2.6× IWM | 0.74 | $59B |
| 2 | BWLP Marine ShippingBW LPG Limited | 5/5 short3/3 longAll-weather | −1.7% | +22.6% | +44.0% | +117% | +136% | +230% | +958% | +2,672% | 50.9%2.3× IWM | 1.19 | $3.8B |
| 3 | FTNT Software - InfrastructureFortinet, Inc. | 5/5 short3/3 longAll-weather | −2.5% | +6.6% | +107% | +119% | +101% | +203% | +156% | +2,626% | 44.8%2.0× IWM | 0.65 | $125B |
| 4 | LLY Drug Manufacturers - GeneralEli Lilly and Company | 5/5 short3/3 longAll-weather | +10.2% | +12.1% | +40.0% | +19.4% | +59.7% | +124% | +451% | +1,807% | 32.8%1.5× IWM | 1.21 | $1.2T |
| 5 | CORT Medical - PharmaceuticalsCorcept Therapeutics Incorporated | 5/5 short3/3 longAll-weather | +2.4% | +27.2% | +151% | +205% | +48.2% | +317% | +498% | +1,593% | 75.9%3.4× IWM | 0.81 | $13B |
| 6 | COKE Beverages - Non-AlcoholicCoca-Cola Consolidated, Inc. | 5/5 short3/3 longAll-weather | +12.3% | +17.3% | +14.9% | +42.9% | +61.7% | +255% | +461% | +1,569% | 38.0%1.7× IWM | 1.10 | $14B |
| 7 | CVI Oil & Gas Refining & MarketingCVR Energy, Inc. | 5/5 short3/3 longAll-weather | +16.4% | +79.1% | +106% | +147% | +78.5% | +115% | +304% | +1,424% | 52.3%2.3× IWM | 0.80 | $6.2B |
| 8 | MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 5/5 short3/3 longAll-weather | +18.1% | +51.1% | +123% | +191% | +159% | +234% | +690% | +1,387% | 33.4%1.5× IWM | 1.41 | $133B |
| 9 | WSM Specialty RetailWilliams-Sonoma, Inc. | 5/5 short3/3 longAll-weather | +12.2% | +14.1% | +26.5% | +37.0% | +35.6% | +238% | +199% | +1,268% | 44.4%2.0× IWM | 0.71 | $30B |
| 10 | HALO BiotechnologyHalozyme Therapeutics, Inc. | 5/5 short3/3 longAll-weather | +11.6% | +61.3% | +78.8% | +76.9% | +87.1% | +254% | +226% | +1,196% | 40.4%1.8× IWM | 0.79 | $14B |
What stands out
The leading ETFs were not tied to one narrow theme. Broad-market and technology funds made up most of the displayed group, while international and commodities funds also appeared. Several familiar broad-market alternatives, including VOO, SPY, and VTI, kept ahead of IWM across every measured period. By contrast, small-cap funds such as SCHA and IJR cleared the consistency bar on shorter periods but did not lead in every long-term window.
The stock leaders came from varied businesses, including healthcare, technology, industrials, consumer staples, and energy. That spread suggests the results were not confined to one sector, though the top stocks shown are only a slice of the 477 stocks that qualified. Their higher median volatility points to a rougher ride than IWM, while their stronger Sharpe ratios indicate that their returns were higher relative to the amount of risk taken over the measured period.
Methodology
- Short-term periods: 1M, 3M, 6M, YTD, 1Y. Long-term periods: 3Y, 5Y, 10Y. An investment outperformed a period when its total return, with dividends reinvested, was higher than IWM's. Returns within 0.5 points or 3% of IWM's (whichever is larger) count as a tie and are shown in gray.
- Consistent means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods, so a recent hot streak alone is not enough. All-weather means outperforming in every long-term period and all but one short-term period. Rankings use long-term periods outperformed, then short-term, then the 10Y return.
- Excludes leveraged and inverse funds, ETFs under $100M in assets, stocks under $2.0B in market cap, and anything without 10 years of history.
- Volatility is the annualized standard deviation of daily returns over 5 years. The Sharpe ratio is return above cash divided by volatility over the same period: higher means more return per unit of risk.
- Returns and risk figures are computed from daily adjusted prices and update with each market day. Past performance does not predict future results.