Relative Intelligence · US Large-Cap Equity
How iShares Russell 1000 ETF (IWB) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IWB alone. It places IWB (iShares Russell 1000 ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where IWB stands in the market, and of the alternatives worth a closer look.
Period covered: IWB's full trading record, from May 2000 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- What you're buyingIWB's 0.15% fee costs about $260 more than SPYM's 0.02% on $10,000 over 20 years, for a fund that tracks the same thing. Better options ↓
- Right nowBoth IWB and the total US stock market are within a few percent of a record high. At a glance ↓
- Fund or market?IWB rose 3.7% over the past 3 months, in line with the total US stock market, which rose 3.2%: a market move, not its own.
- Long termIWB's 10-year return of 309% puts it ahead of 91% of the ETFs with at least $100 million in assets with that much history. The total US stock market returned 302%. Over the past decade, IWB returned 15.1% a year against 14.9% a year for the total US stock market (309% in total against 302%). Market rank ↓
- In a crashIn the 2022 bear market, IWB fell harder than most of its similar funds, including RSP (Invesco S&P 500 Equal Weight ETF), FNDX and AVUS. Crash tests ↓
- DiversificationIWB is more of the same, not a cushion: a correlation of 1.00 with the total US stock market over 5 years, more closely than 99% of ETFs with at least $100 million in assets. IWB fell in 24 of the 25 months the total US stock market fell over the past 5 years: it usually fell with it. By year ↓
- Better options
- Nearby categories and themes
- JQUA (JPMorgan U.S. Quality Factor ETF, US quality equity) earned more than IWB with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 11.9% a year at 17.2%.
- Whole market
- Few investments have done better on both counts: only 30 of the 3,633 stocks and funds worth at least $500 million earned more than IWB with less volatility over the past 5 years, among them EFV (iShares MSCI EAFE Value ETF), FNDX (Schwab Fundamental U.S. Large Company ETF) and FNDF (Schwab Fundamental International Large Company Index ETF).
How much would $10,000 in IWB have grown?
This chart tracks a hypothetical $10,000 investment in IWB over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IWB over the same span and IWB's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
Note: The chart covers the past 25 years rather than IWB's full 26 years, because most of its popular alternatives have not traded that long.
- $10,000 invested in IWB at the end of September 2001 would have grown to $115,335 by September 2026, about the same as the $114,557 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of IWB, and RY finished highest, at $321,225.
Choose a period
From the end of September 2001 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 579 of the 1,326 stocks and funds worth at least $500 million that traded the whole period ended ahead of IWB; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- RY$321,225+3,112% total · +14.9% a year
- QQQ$303,059+2,931% total · +14.6% a year
- IWF$147,031+1,370% total · +11.4% a year
- VTI$122,064+1,121% total · +10.5% a year
- IJH$116,621+1,066% total · +10.3% a year
- IWB$115,335+1,053% total · +10.3% a year
- SPY (S&P 500)$114,557+1,046% total · +10.2% a year
- SPTM$113,215+1,032% total · +10.2% a year
- IWM$95,893+859% total · +9.5% a year
- IWD$83,566+736% total · +8.9% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 1,007 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of IWB; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- VLUE$22,395+124% total · +17.5% a year
- QQQ$21,295+113% total · +16.3% a year
- DYNF$21,051+111% total · +16.1% a year
- JQUA$19,289+92.9% total · +14.0% a year
- FNDX$19,177+91.8% total · +13.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- PRF$18,834+88.3% total · +13.5% a year
- VV$18,747+87.5% total · +13.4% a year
- AVUS$18,575+85.8% total · +13.2% a year
- IWB$18,315+83.1% total · +12.9% a year
IWB at a glance
This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.
- IWB's deepest decline since it began trading in 2000 was 55.4%, from October 2007 to March 2009. It took about three years from the low to climb back to its old high.
- Over 25 full calendar years, IWB's best was 2013, when it returned 32.8%, and its worst was 2008, when it lost 37.4%. It lost money in five of those years.
- IWB is 1.4% below its all-time high.
The fund
- Issuer
- IShares
- Began trading
- May 2000
- Expense ratio
- 0.15%per year
- Assets
- $49B
- Category
- Broad Market
Returns
- Past 1 year
- +15.1%total return
- Past 3 years
- +87.7%+23.4% a year
- Past 5 years
- +75.1%+11.9% a year
- Past 10 years
- +309%+15.1% a year
- Best calendar year
- +32.8%2013
- Worst calendar year
- −37.4%2008
- Losing years
- 5 of 25full calendar years
Risk
- Volatility
- 17.2%typical yearly swing, 5 years
- Sharpe ratio
- 0.74return per unit of risk, 5 years
- Worst decline ever
- −55.4%Oct 2007 to Mar 2009
- From its all-time high
- −1.4%below the peak
IWB against the whole market
Where IWB ranks among every stock and fund, and what across the market has done better.
How does IWB rank among all ETFs?
This section ranks IWB on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how IWB stacks up against its peers, these rankings show where it stands in the market as a whole.
- IWB's 10-year return ranks in the top 9% of the 958 ETFs with at least $100 million in assets with 10 years of history.
Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.
| Measure | IWB | Rank | Standing |
|---|---|---|---|
| 1-year return | +15.1% | 816 of 2,485 | top 33% |
| 3-year return | +87.7% | 399 of 1,949 | top 20% |
| 5-year return | +75.1% | 310 of 1,560 | top 20% |
| 10-year return | +309% | 89 of 958 | top 9% |
| Volatility, 5 years | 17.2% | 860 of 1,560 | bottom 46% |
| Sharpe ratio, 5 years | 0.74 | 446 of 1,560 | top 29% |
| Worst decline, past 10 years | −34.6% | 325 of 951 | top 34% |
What has beaten IWB on both return and risk?
Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). IWB sits where the dashed lines cross. Anything in the green box above and to the left earned more than IWB with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- 30 ETFs worth at least $500 million sit in the green region: each earned more than IWB over the past 5 years with smaller price swings. That is fewer than 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half IWB's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 36% less than IWB's 17.2%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.74 for IWB.
- Among IWB's popular alternatives, FNDX and PRF are in the region. FNDX earned 13.5% a year against 11.9% a year for IWB, at 14.9% volatility, 13% less than IWB's 17.2%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to IWB; faint dots are 19 more of the 30 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than IWB?
Investments that beat IWB over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among IWB's popular alternatives, FNDX earned more than IWB with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 11.9% a year at 17.2%.
- SPYM tracks the same thing for 0.02% a year against IWB's 0.15%, and has kept pace over the past decade: about $130 less in fees on $10,000 over 10 years.
- Looking beyond its popular alternatives, JQUA (US quality equity) earned more than IWB with less volatility over the past 5 years: 13.6% a year at 15.7% volatility, against 11.9% a year at 17.2%.
How this works
The table below lists investments that beat IWB over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks IWB's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than IWB follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than IWB's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× IWB's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than IWB's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with IWB?lower diversifies more | Expenseper year | |||
| IWBiShares Russell 1000 ETF · this page | +11.9% | 17.2% | 0.74 | −34.6% | +309% | 1.00 | 0.15% | ||
 VTIVanguard Morningstar Total Stock Market ETF · S&P 500 | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 1.00 | 0.03% | ||
| Popular alternativesbest 4 shownThe investments people most often weigh against IWB. 13 of 25 passed at least one test. | |||||||||
 VOOVanguard S&P 500 ETF · US Large-Cap Equity | Higher return in most periodsSame exposure, lower expense ratio | +12.8% | 16.9% | 0.80 | −34.0% | +324% | 1.00 | 0.03% | |
FNDXSchwab Fundamental U.S. Large Company ETF · US Large-Cap Value | Higher return, lower volatility | +13.5% | 14.9% | 0.93 | −37.7% | +291% | 0.92 | 0.25% | |
 DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Higher return in most periods | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.99 | 0.26% | |
| VTIVanguard Morningstar Total Stock Market ETF · US Total Market | Same exposure, lower expense ratio | +11.5% | 17.5% | 0.71 | −35.0% | +302% | 1.00 | 0.03% | |
| Same and neighboring categories, and shared themesbest 5 shownEverything else in US Large-Cap Equity and the categories next to it (US Total Market, US Large-Cap Value, US Large-Cap Growth, US Quality Equity), plus IWB's specific themes. 17 of 45 passed at least one test. | |||||||||
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Higher return, similar volatilityHigher return in most periods | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.83 | 0.15% | |
 QQQInvesco QQQ Trust, Series 1 · US Large-Cap Growth | Higher return in most periods | +14.5% | 23.0% | 0.71 | −35.1% | +553% | 0.91 | 0.18% | |
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Higher return, lower volatility | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.97 | 0.12% | |
 SCHGSchwab U.S. Large-Cap Growth ETF · US Large-Cap Growth | Higher return in most periods | +13.1% | 22.4% | 0.67 | −34.5% | +451% | 0.94 | 0.04% | |
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Similar return, lower volatility | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.83 | 0.05% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 130 of 3,563 passed at least one test. | |||||||||
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, similar volatilityHigher return in most periods | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.60 | — | |
DIVBiShares Core Dividend ETF · Dividend & Income | Higher return, lower volatilityHigher return in most periods | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.87 | 0.05% | |
FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income | Higher return, lower volatilityHigher return in most periods | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.60 | 0.59% | |
DIVIFranklin International Core Dividend Tilt Index ETF · International | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.73 | 0.09% | |
 CAHCardinal Health, Inc. · Health Care Distribution | On the frontierHigher return in most periods | +42.1% | 24.7% | 1.55 | −46.1% | +349% | 0.30 | — | |
 IAUiShares Gold Trust · Gold | Higher return, similar volatilityHigher Sharpe, smaller worst decline | +17.9% | 18.9% | 0.97 | −26.4% | +218% | 0.16 | 0.25% | |
FJANFT Vest U.S. Equity Buffer ETF - January · Multi-Asset | On the frontierSimilar return, lower volatilityHigher Sharpe, smaller worst decline | +11.1% | 10.5% | 1.05 | −13.6% | — | 0.93 | 0.85% | |
 WMWaste Management, Inc. · Environmental Services | Smaller losses in recent crashes | +9.3% | 19.2% | 0.56 | −30.1% | +344% | 0.36 | — | |
What these numbers mean for IWB
- Annual return
- IWB returned 11.9% a year over the past 5 years with dividends reinvested, against 11.5% a year for the S&P 500. At that pace, $10,000 became about $17,500. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- IWB's volatility over the past 5 years was 17.2%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IWB's return lands within 17.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- IWB's Sharpe ratio over the past 5 years was 0.74, against 0.71 for the S&P 500, so IWB earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- IWB's worst fall from a peak to a low over the past 10 years was 34.6%, against 35.0% for the S&P 500. Losses and gains are not symmetric: climbing back from a 34.6% fall takes a 52.9% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, IWB's monthly returns had a correlation of 1.00 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IWB instead: the lower it is, the more that option would diversify a IWB holding. Guide: Correlation and diversification →
Show all 30 stocks and funds worth at least $500 million that earned more than IWB with less volatility
Out of 3,633 tested over 5 years. The strongest 25 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with IWB | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.88 | 0.56% |
| 2 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.87 | 0.05% |
| 3 | FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income | Whole market | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.60 | 0.59% |
| 4 | DIVIFranklin International Core Dividend Tilt Index ETF · International | Whole market | +13.4% | 15.5% | 0.89 | −27.7% | +184% | 0.73 | 0.09% |
| 5 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.55 | 0.40% |
| 6 | VSLUApplied Finance Valuation Large Cap ETF · Broad Market | Whole market | +13.7% | 16.2% | 0.88 | −23.8% | — | 0.98 | 0.49% |
| 7 | EFViShares MSCI EAFE Value ETF · International Equity | Whole market | +13.6% | 15.9% | 0.88 | −43.2% | +157% | 0.64 | 0.31% |
| 8 | FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.72 | 0.25% |
| 9 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.59 | 0.08% |
| 10 | FDVVFidelity High Dividend ETF · US Dividend Equity | Whole market | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.90 | 0.15% |
| 11 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.82 | 0.35% |
| 12 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity | Whole market | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.58 | 0.43% |
| 13 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure | Whole market | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.62 | 0.95% |
| 14 | GCOWPacer Global Cash Cows Dividend ETF · International | Whole market | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.52 | 0.60% |
| 15 | RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Same or nearby category | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.91 | 0.39% |
| 16 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.16 | 0.98% |
| 17 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Same or nearby category | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.97 | 0.12% |
| 18 | PRFInvesco RAFI US 1000 ETF · US Large-Cap Value | Popular alternative | +13.0% | 15.0% | 0.90 | −38.1% | +270% | 0.92 | 0.34% |
| 19 | FLQLFranklin U.S. Large Cap Multifactor Index ETF · Broad Market | Whole market | +13.8% | 16.3% | 0.88 | −33.6% | — | 0.98 | 0.15% |
| 20 | PWVInvesco Large Cap Value ETF · Broad Market | Whole market | +13.5% | 14.2% | 0.97 | −37.6% | +223% | 0.77 | 0.55% |
| 21 | AUSFGlobal X - Adaptive U.S. Factor ETF · International | Whole market | +13.2% | 13.6% | 0.99 | −44.2% | — | 0.74 | 0.27% |
| 22 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.91 | 0.19% |
| 23 | DTHWisdomTree International High Dividend Fund · International | Whole market | +13.0% | 15.1% | 0.89 | −40.8% | +131% | 0.58 | 0.58% |
| 24 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.85 | 0.50% |
| 25 | IDOGALPS International Sector Dividend Dogs ETF · International | Whole market | +14.1% | 15.6% | 0.93 | −37.3% | +180% | 0.59 | 0.50% |
IWB against its popular alternatives
The investments people most often weigh against IWB, compared period by period and year by year.
How do IWB's risk and return compare with its alternatives?
This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at IWB, which divides the map into what did better or worse on each measure.
- FNDX, PRF and SPTM were both more rewarding and calmer than IWB over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, IWB returned 11.9% a year, less than the S&P 500's 12.7%, with higher volatility (17.2% against 17.1%).
Green points earned more than IWB with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| DYNF iShares U.S. Equity Factor Rotation Active ETF | +14.7% | 17.5% |
| FNDX Schwab Fundamental U.S. Large Company ETF | +13.5% | 14.9% |
| PRF Invesco RAFI US 1000 ETF | +13.0% | 15.0% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| VV Vanguard Morningstar Large-Cap ETF | +12.3% | 17.3% |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | +12.3% | 16.9% |
| AVUS Avantis U.S. Equity ETF | +12.2% | 17.2% |
| SCHX Schwab U.S. Large-Cap ETF | +12.0% | 17.2% |
| IWB This pageiShares Russell 1000 ETF | +11.9% | 17.2% |
| IYY iShares Dow Jones U.S. ETF | +11.7% | 17.2% |
| IWF iShares Russell 1000 Growth ETF | +11.7% | 21.8% |
| SCHB Schwab U.S. Broad Market ETF | +11.6% | 17.3% |
| IWD iShares Russell 1000 Value ETF | +11.4% | 14.7% |
| VXUS Vanguard Total International Stock ETF | +8.3% | 16.4% |
| RSP Invesco S&P 500 Equal Weight ETF | +8.2% | 16.1% |
| IJH iShares Core S&P Mid-Cap ETF | +7.2% | 19.6% |
| EUSA iShares MSCI USA Equal Weighted ETF | +7.0% | 16.9% |
| EQAL Invesco Russell 1000 Equal Weight ETF | +6.4% | 17.2% |
| IWM iShares Russell 2000 ETF | +5.2% | 22.4% |
Has IWB consistently beaten its popular alternatives?
This section compares IWB with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than IWB helps separate lasting outperformance from a single strong stretch.
- Five of the 25 popular alternatives, led by SPYM, VOO and IVV, outperformed IWB in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SPYM, VOO and IVV earned more for the risk they took than IWB (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
- VV outperformed IWB over all three long-term periods but in only one of the five short-term ones, so IWB has had the better of it lately.
A green cell means the alternative earned more than IWB over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| IWB iShares Russell 1000 ETF (this page) | — | −0.6% | +3.7% | +8.6% | +12.9% | +15.1% | +87.7% | +75.1% | +309% | 17.2% | 0.74 | −34.6% | 0.15% | $49B | — |
| SPYM QualifiedState Street SPDR Portfolio S&P 500 ETF | 3/5 short2/3 long | −0.5% | +3.9% | +9.1% | +13.5% | +15.9% | +89.8% | +82.5% | +324% | 16.9% | 0.80 | −33.9% | 0.02% | $184B | 98% |
| VOO QualifiedVanguard S&P 500 ETF | 3/5 short2/3 long | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.7% | +82.3% | +324% | 16.9% | 0.80 | −34.0% | 0.03% | $1.7T | 97% |
| IVV QualifiediShares Core S&P 500 ETF | 3/5 short2/3 long | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.7% | +82.3% | +324% | 17.0% | 0.80 | −33.9% | 0.03% | $880B | 98% |
| SPY QualifiedState Street SPDR S&P 500 ETF | 3/5 short2/3 long | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1% | 0.79 | −33.7% | 0.09% | $823B | 98% |
| DYNF QualifiediShares U.S. Equity Factor Rotation Active ETF | 3/5 short2/3 long | −1.9% | +3.4% | +9.1% | +14.1% | +17.1% | +106% | +98.5% | — | 17.5% | 0.87 | −34.7% | 0.26% | $42B | 91% |
| VV Broad MarketVanguard Morningstar Large-Cap ETF | 1/5 short3/3 long | −0.7% | +3.9% | +9.4% | +13.4% | +15.4% | +90.6% | +78.8% | +324% | 17.3% | 0.76 | −34.3% | 0.03% | $76B | 97% |
| FNDX Broad MarketSchwab Fundamental U.S. Large Company ETF | 5/5 short1/3 long | +1.6% | +4.7% | +11.9% | +20.5% | +25.4% | +88.2% | +88.6% | +291% | 14.9% | 0.93 | −37.7% | 0.25% | $28B | 81% |
| PRF Broad MarketInvesco RAFI US 1000 ETF | 5/5 short1/3 long | +1.2% | +4.2% | +11.7% | +20.2% | +25.5% | +90.1% | +84.3% | +270% | 15.0% | 0.90 | −38.1% | 0.34% | $10B | 84% |
| AVUS Broad MarketAvantis U.S. Equity ETF | 2/5 short1/3 long | −0.6% | +2.3% | +8.0% | +15.8% | +19.9% | +87.2% | +77.9% | — | 17.2% | 0.76 | −37.0% | 0.15% | $15B | 89% |
| SPTM Broad MarketState Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 1/5 short1/3 long | −0.6% | +3.4% | +8.4% | +13.3% | +15.7% | +87.2% | +78.6% | +310% | 16.9% | 0.77 | −34.7% | 0.03% | $14B | 99% |
| DFUS Broad MarketDimensional U.S. Equity ETF | 1/5 short1/3 long | −0.7% | +3.5% | +8.7% | +13.3% | +15.7% | +88.9% | +78.8% | — | 17.3% | 0.76 | −24.6% | 0.09% | $21B | 97% |
| IWF Broad MarketiShares Russell 1000 Growth ETF | 0/5 short1/3 long | −3.0% | +2.6% | +3.3% | +4.1% | +4.0% | +87.7% | +74.1% | +416% | 21.8% | 0.62 | −32.7% | 0.18% | $125B | 75% |
| IWD Broad MarketiShares Russell 1000 Value ETF | 5/5 short0/3 long | +1.7% | +4.7% | +14.2% | +22.7% | +27.7% | +84.4% | +71.7% | +205% | 14.7% | 0.81 | −38.5% | 0.18% | $84B | 77% |
| RSP Broad MarketInvesco S&P 500 Equal Weight ETF | 1/5 short0/3 long | +1.5% | +2.0% | +6.7% | +13.3% | +15.5% | +65.4% | +48.6% | +211% | 16.1% | 0.57 | −39.0% | 0.20% | $98B | 76% |
| EUSA Broad MarketiShares MSCI USA Equal Weighted ETF | 1/5 short0/3 long | +0.6% | +1.5% | +5.8% | +11.2% | +12.9% | +65.3% | +40.3% | +198% | 16.9% | 0.49 | −39.1% | 0.09% | $1.9B | 76% |
| SCHX Broad MarketSchwab U.S. Large-Cap ETF | 0/5 short0/3 long | −0.8% | +3.6% | +8.7% | +13.0% | +15.1% | +89.1% | +76.6% | +317% | 17.2% | 0.75 | −34.3% | 0.03% | $74B | 98% |
| VONE Broad MarketVanguard Russell 1000 ETF | 0/5 short0/3 long | −0.6% | +3.7% | +8.6% | +13.0% | +15.2% | +88.5% | +75.9% | +312% | 17.2% | 0.75 | −34.7% | 0.06% | $12B | 98% |
| IYY Broad MarketiShares Dow Jones U.S. ETF | 0/5 short0/3 long | −0.7% | +3.6% | +8.6% | +13.1% | +15.1% | +87.9% | +74.2% | +303% | 17.2% | 0.73 | −34.9% | 0.20% | $3.0B | 99% |
| VTI Broad MarketVanguard Morningstar Total Stock Market ETF | 0/5 short0/3 long | −0.8% | +3.2% | +8.3% | +13.1% | +15.2% | +87.9% | +72.6% | +302% | 17.5% | 0.71 | −35.0% | 0.03% | $2.3T | 98% |
| ITOT Broad MarketiShares Core S&P Total U.S. Stock Market ETF | 0/5 short0/3 long | −0.8% | +3.2% | +8.2% | +13.1% | +15.2% | +88.0% | +72.7% | +301% | 17.4% | 0.72 | −35.0% | 0.03% | $96B | 98% |
| SCHB Broad MarketSchwab U.S. Broad Market ETF | 0/5 short0/3 long | −0.9% | +3.2% | +8.3% | +13.1% | +15.2% | +88.0% | +72.9% | +286% | 17.3% | 0.72 | −35.3% | 0.03% | $44B | 98% |
| IJH Broad MarketiShares Core S&P Mid-Cap ETF | 0/5 short0/3 long | −0.2% | −2.2% | +0.2% | +10.1% | +13.5% | +59.4% | +41.4% | +178% | 19.6% | 0.45 | −42.2% | 0.05% | $121B | 69% |
| EQAL Broad MarketInvesco Russell 1000 Equal Weight ETF | 0/5 short0/3 long | −0.2% | +0.4% | +1.1% | +12.1% | +14.3% | +61.4% | +36.4% | +171% | 17.2% | 0.45 | −40.4% | 0.20% | $802M | 71% |
| IWM Broad MarketiShares Russell 2000 ETF | 0/5 short0/3 long | −3.4% | −5.4% | −0.1% | +11.6% | +12.3% | +71.3% | +29.0% | +158% | 22.4% | 0.34 | −41.1% | 0.19% | $75B | 67% |
| VXUS InternationalVanguard Total International Stock ETF | 0/5 short0/3 long | −3.9% | +1.0% | +0.9% | +10.2% | +14.6% | +77.2% | +48.6% | +140% | 16.4% | 0.57 | −36.0% | 0.05% | $666B | 73% |
How did IWB do year by year?
This table shows each investment's total return in every full calendar year since 2001, along with where IWB ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IWB and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- Ranked against its popular alternatives each year, IWB finished in the top quarter in four of 25 years and in the bottom quarter in no. In 2025, it ranked 7 of 18.
- IWB finished ahead of the S&P 500 in six of its 25 full calendar years.
- Among its popular alternatives, IWF came out ahead of IWB most often, in 13 of the 25 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of IWB; gray means the two finished within a fraction of a point. The rank row places IWB among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of IWB | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IWB This pageiShares Russell 1000 ETF | — | +17.2% | +24.3% | +26.4% | −19.2% | +26.3% | +20.8% | +31.1% | −4.9% | +21.5% | +12.0% | +0.3% | +13.1% | +32.8% | +16.5% | +1.2% | +16.1% | +28.3% | −37.4% | +5.3% | +15.4% | +6.3% | +11.0% | +29.6% | −22.3% | −12.1% |
| Rank among alternatives | Top quarter in 4 of 25 | 7 of 18 | 5 of 18 | 6 of 18 | 11 of 18 | 10 of 18 | 4 of 18 | 5 of 16 | 4 of 16 | 5 of 16 | 12 of 16 | 4 of 16 | 7 of 15 | 7 of 14 | 7 of 14 | 5 of 13 | 9 of 12 | 7 of 10 | 7 of 10 | 5 of 10 | 6 of 10 | 5 of 9 | 6 of 8 | 6 of 7 | 5 of 7 | 6 of 7 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 6 of 25 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | 3 of 6 | +20.0% | +30.3% | +36.2% | −20.3% | +24.9% | +13.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| VV Vanguard Morningstar Large-Cap ETF | 6 of 21 | +18.1% | +25.3% | +27.2% | −19.9% | +27.4% | +21.0% | +31.3% | −4.5% | +22.0% | +11.8% | +1.0% | +13.4% | +32.7% | +16.2% | +1.4% | +15.9% | +27.3% | −36.7% | +6.2% | +15.5% | +6.0% | — | — | — | — |
| FNDX Schwab Fundamental U.S. Large Company ETF | 3 of 12 | +16.9% | +16.7% | +18.3% | −7.0% | +31.7% | +9.2% | +28.7% | −7.3% | +16.5% | +16.4% | −3.0% | +12.6% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| PRF Invesco RAFI US 1000 ETF | 8 of 20 | +18.4% | +16.7% | +15.7% | −7.8% | +31.2% | +7.8% | +27.4% | −8.7% | +16.0% | +17.3% | −2.9% | +12.2% | +35.0% | +16.9% | −0.5% | +19.8% | +41.6% | −40.1% | +1.8% | +19.0% | — | — | — | — | — |
| AVUS Avantis U.S. Equity ETF | 2 of 6 | +16.7% | +20.4% | +21.8% | −13.8% | +28.7% | +17.6% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 5 of 25 | +16.9% | +23.9% | +25.6% | −17.8% | +28.5% | +18.0% | +31.4% | −5.3% | +21.1% | +12.3% | +0.2% | +13.4% | +33.6% | +15.8% | +0.8% | +17.3% | +28.1% | −36.6% | +5.2% | +14.8% | +6.7% | +10.5% | +27.0% | −21.6% | −10.1% |
| IWF iShares Russell 1000 Growth ETF | 13 of 25 | +18.3% | +33.1% | +42.6% | −29.3% | +27.4% | +38.3% | +35.9% | −1.7% | +29.9% | +7.0% | +5.5% | +12.7% | +33.2% | +15.2% | +2.3% | +16.6% | +36.5% | −38.1% | +11.5% | +8.8% | +4.7% | +6.1% | +30.3% | −28.1% | −20.9% |
| IWD iShares Russell 1000 Value ETF | 7 of 25 | +15.7% | +14.2% | +11.3% | −7.7% | +24.9% | +2.7% | +26.1% | −8.4% | +13.4% | +17.3% | −4.0% | +13.2% | +32.1% | +17.4% | +0.1% | +15.5% | +19.1% | −36.5% | −0.7% | +22.5% | +6.7% | +16.1% | +30.1% | −15.6% | −6.2% |
| RSP Invesco S&P 500 Equal Weight ETF | 10 of 22 | +11.2% | +12.8% | +13.7% | −11.6% | +29.4% | +12.7% | +28.9% | −7.8% | +18.5% | +14.5% | −1.7% | +15.1% | +36.7% | +18.6% | +0.2% | +21.5% | +44.7% | −40.0% | +0.9% | +15.5% | +7.4% | +16.5% | — | — | — |
| EUSA iShares MSCI USA Equal Weighted ETF | 4 of 15 | +10.2% | +14.6% | +17.7% | −17.1% | +25.6% | +15.0% | +30.6% | −8.6% | +19.0% | +14.0% | −3.4% | +14.1% | +31.9% | +15.2% | +2.3% | — | — | — | — | — | — | — | — | — | — |
| SCHX Schwab U.S. Large-Cap ETF | 1 of 16 | +17.5% | +24.9% | +26.8% | −19.4% | +26.8% | +21.0% | +31.2% | −4.5% | +21.6% | +12.1% | +1.0% | +13.3% | +32.6% | +16.4% | +1.6% | +15.9% | — | — | — | — | — | — | — | — | — |
| IYY iShares Dow Jones U.S. ETF | 1 of 25 | +17.1% | +24.2% | +26.5% | −19.6% | +26.4% | +20.1% | +30.8% | −5.2% | +21.3% | +11.9% | −0.1% | +12.9% | +32.7% | +16.1% | +1.2% | +16.4% | +28.3% | −37.0% | +5.8% | +15.3% | +6.0% | +11.9% | +30.2% | −22.4% | −12.0% |
| SCHB Schwab U.S. Broad Market ETF | 1 of 16 | +16.9% | +23.9% | +26.1% | −19.4% | +25.8% | +19.6% | +29.5% | −6.1% | +20.0% | +14.7% | −0.7% | +11.5% | +31.8% | +14.8% | +1.0% | +16.3% | — | — | — | — | — | — | — | — | — |
| IJH iShares Core S&P Mid-Cap ETF | 12 of 25 | +7.4% | +13.9% | +16.4% | −13.1% | +24.7% | +13.6% | +26.1% | −11.2% | +16.3% | +20.7% | −2.3% | +9.7% | +33.5% | +17.7% | −2.2% | +26.7% | +37.9% | −36.1% | +7.3% | +9.7% | +12.8% | +16.1% | +35.3% | −14.2% | −1.4% |
| EQAL Invesco Russell 1000 Equal Weight ETF | 2 of 11 | +11.1% | +11.4% | +12.0% | −13.5% | +23.1% | +16.6% | +24.6% | −9.2% | +17.4% | +15.6% | −4.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| IWM iShares Russell 2000 ETF | 9 of 25 | +12.7% | +11.4% | +16.8% | −20.5% | +14.5% | +20.0% | +25.4% | −11.1% | +14.6% | +21.6% | −4.5% | +5.0% | +38.7% | +16.7% | −4.4% | +26.9% | +28.5% | −34.2% | −1.8% | +18.3% | +4.5% | +18.0% | +47.4% | −20.3% | +1.8% |
| VXUS Vanguard Total International Stock ETF | 4 of 14 | +32.3% | +5.1% | +15.9% | −16.1% | +9.0% | +10.7% | +21.7% | −14.4% | +27.5% | +4.8% | −4.2% | −4.7% | +14.6% | +18.6% | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How IWB has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.
What were IWB's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents IWB's five deepest drawdowns since it began trading in 2000, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In all five of IWB's worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after IWB fell 48.3% from September 2000 to October 2002; it did not regain that peak until October 2006, four years later.
Green means IWB fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | IWB fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| 2008 financial crisis | −55.4% | −55.2% | Oct 2007 | Mar 2009 | 17 months | Mar 2012 | 3 years |
| Dot-com bust | −48.3% | −47.3% | Sep 2000 | Oct 2002 | 2.1 years | Oct 2006 | 4 years |
| Covid crash | −34.6% | −33.7% | Feb 2020 | Mar 2020 | 1 month | Aug 2020 | 5 months |
| 2022 bear market | −25.2% | −24.5% | Jan 2022 | Oct 2022 | 9 months | Dec 2023 | 14 months |
| Late-2018 sell-off | −19.7% | −19.4% | Sep 2018 | Dec 2018 | 3 months | Apr 2019 | 4 months |
How did IWB do in stock market crashes?
This section measures how far IWB, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
Note: IWB began trading on May 19, 2000, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.
- None of its popular alternatives fell less than IWB in most of the crashes they both traded through.
- IWB fell further than the S&P 500 in four of the nine crashes it has traded through. The clearest case was the 2015 China and oil sell-off, when IWB fell 14.0% and the S&P 500 fell 12.8%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than IWB.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IWB This pageiShares Russell 1000 ETF | — | −3.8% | −25.0% | −34.6% | −19.7% | −6.4% | −14.0% | −18.8% | −1.7% | −55.4% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 4 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | 0 of 3 | −3.6% | −26.0% | −34.7% | — | — | — | — | — | — | — |
| VV Vanguard Morningstar Large-Cap ETF | 2 of 9 | −3.5% | −25.5% | −34.3% | −19.3% | −6.4% | −13.3% | −18.6% | −1.7% | −54.8% | — |
| FNDX Schwab Fundamental U.S. Large Company ETF | 2 of 6 | −4.2% | −19.1% | −37.4% | −19.6% | −6.2% | −12.4% | — | — | — | — |
| PRF Invesco RAFI US 1000 ETF | 1 of 9 | −4.6% | −19.7% | −38.0% | −19.7% | −6.4% | −13.6% | −19.4% | −1.5% | −60.1% | — |
| AVUS Avantis U.S. Equity ETF | 1 of 3 | −5.2% | −22.2% | −37.0% | — | — | — | — | — | — | — |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 2 of 9 | −3.8% | −24.1% | −34.7% | −20.2% | −6.3% | −13.5% | −18.8% | −2.0% | −54.7% | — |
| IWF iShares Russell 1000 Growth ETF | 4 of 9 | −3.4% | −31.2% | −31.5% | −21.9% | −6.4% | −13.4% | −18.2% | −2.0% | −51.2% | — |
| IWD iShares Russell 1000 Value ETF | 2 of 9 | −4.6% | −19.0% | −38.4% | −18.0% | −6.4% | −14.3% | −19.5% | −1.6% | −59.9% | — |
| RSP Invesco S&P 500 Equal Weight ETF | 1 of 9 | −5.4% | −21.4% | −39.0% | −19.8% | −6.1% | −14.8% | −21.3% | −1.6% | −59.1% | — |
| EUSA iShares MSCI USA Equal Weighted ETF | 2 of 7 | −5.3% | −24.6% | −39.1% | −20.8% | −5.6% | −18.4% | −14.8% | — | — | — |
| SCHX Schwab U.S. Large-Cap ETF | 1 of 8 | −3.7% | −25.2% | −34.3% | −19.4% | −6.4% | −13.4% | −18.5% | −1.2% | — | — |
| IYY iShares Dow Jones U.S. ETF | 0 of 9 | −3.7% | −25.3% | −34.9% | −19.8% | −6.1% | −14.0% | −19.1% | −1.6% | −55.1% | — |
| SCHB Schwab U.S. Broad Market ETF | 0 of 8 | −4.0% | −25.3% | −35.3% | −20.5% | −6.2% | −14.5% | −19.0% | −1.6% | — | — |
| IJH iShares Core S&P Mid-Cap ETF | 2 of 9 | −7.0% | −22.8% | −42.2% | −22.8% | −6.1% | −17.5% | −24.6% | −2.6% | −54.8% | — |
| EQAL Invesco Russell 1000 Equal Weight ETF | 1 of 6 | −5.7% | −21.4% | −40.2% | −21.0% | −6.3% | −17.5% | — | — | — | — |
| IWM iShares Russell 2000 ETF | 1 of 9 | −7.1% | −26.8% | −40.8% | −25.7% | −5.5% | −21.5% | −27.2% | −2.9% | −58.4% | — |
| VXUS Vanguard Total International Stock ETF | 3 of 7 | −2.5% | −28.4% | −33.4% | −15.1% | −6.1% | −20.2% | −24.2% | — | — | — |
How closely does IWB move with the S&P 500?
Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares IWB with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Only IWF, VV and SCHX had a higher capture ratio (upside capture divided by downside capture) than IWB's 0.98, out of 15 popular alternatives with the same record.
- Over the past 10 years, IWB captured 100% of the S&P 500's gains in rising months and 101% of its losses in falling months, with a beta of 1.01. It took about the same share of the market's gains as of its losses.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than IWB's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| IWB This pageiShares Russell 1000 ETF | 100% | 101% | 0.98 | 1.01 |
| IWF iShares Russell 1000 Growth ETF | 110% | 104% | 1.06 | 1.10 |
| VV Vanguard Morningstar Large-Cap ETF | 101% | 101% | 1.00 | 1.01 |
| SCHX Schwab U.S. Large-Cap ETF | 100% | 101% | 0.99 | 1.01 |
| SPTM State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF | 99% | 101% | 0.98 | 1.01 |
| FNDX Schwab Fundamental U.S. Large Company ETF | 95% | 98% | 0.97 | 0.97 |
| IYY iShares Dow Jones U.S. ETF | 100% | 102% | 0.97 | 1.02 |
| PRF Invesco RAFI US 1000 ETF | 93% | 98% | 0.95 | 0.97 |
| SCHB Schwab U.S. Broad Market ETF | 99% | 104% | 0.95 | 1.03 |
| IWD iShares Russell 1000 Value ETF | 87% | 99% | 0.88 | 0.93 |
| RSP Invesco S&P 500 Equal Weight ETF | 92% | 107% | 0.86 | 1.01 |
| VXUS Vanguard Total International Stock ETF | 76% | 91% | 0.84 | 0.82 |
| EUSA iShares MSCI USA Equal Weighted ETF | 93% | 112% | 0.83 | 1.05 |
| IJH iShares Core S&P Mid-Cap ETF | 93% | 115% | 0.81 | 1.10 |
| EQAL Invesco Russell 1000 Equal Weight ETF | 90% | 113% | 0.80 | 1.04 |
| IWM iShares Russell 2000 ETF | 98% | 129% | 0.76 | 1.17 |
What diversifies IWB?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with IWB's. Because such investments tend not to fall at the same time, pairing IWB with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in IWB into DBMF would have cut the portfolio's volatility by 23% over the past 5 years for a small cut in its annual return (+12.9% for IWB alone, +12.8% for the mix).
- Among large ETFs, GLD, XLE and AMLP have moved largely independently of IWB over the past 5 years, with correlations of 0.47 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, MCK and MPC have moved largely independently of IWB over the past 5 years, with correlations of 0.30 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which IWB lost money. The last two columns show a portfolio that is 80% IWB and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2008 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| IWB iShares Russell 1000 ETF (this page) | 1.00 | +75.1% | 0.74 | −19.2% | −4.9% | −37.4% | −22.3% | −12.1% | 15.7% | +12.9% |
| GLD CommoditiesSPDR Gold Shares | 0.16 | +126% | 0.96 | −0.8% | −1.9% | +4.9% | — | — | 13.6% | +14.3% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.29 | +177% | 0.93 | +64.4% | −18.2% | −39.0% | −14.8% | −18.2% | 14.9% | +15.4% |
| AMLP EnergyAlerian MLP ETF | 0.47 | +111% | 0.89 | +25.5% | −12.6% | — | — | — | 14.7% | +14.2% |
| DBMF AlternativesiMGP DBi Managed Futures Strategy ETF | -0.27 | +59.7% | 0.82 | +21.6% | — | — | — | — | 12.2% | +12.8% |
| DBA AlternativesInvesco DB Agriculture Fund | 0.18 | +66.4% | 0.81 | +2.5% | −8.7% | −19.1% | — | — | 13.2% | +12.7% |
| IHE Broad MarketiShares U.S. Pharmaceuticals ETF | 0.48 | +81.2% | 0.80 | −4.9% | −7.8% | −14.8% | — | — | 14.3% | +13.0% |
| PPH HealthcareVanEck Pharmaceutical ETF | 0.49 | +72.8% | 0.78 | +2.6% | −5.9% | −19.9% | −24.8% | −13.8% | 14.2% | +12.6% |
| GDX MaterialsVanEck Gold Miners ETF | 0.28 | +181% | 0.73 | −9.0% | −8.8% | −26.1% | — | — | 16.4% | +16.6% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2008 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| IWB iShares Russell 1000 ETF (this page) | 1.00 | +75.1% | 0.74 | −19.2% | −4.9% | −37.4% | −22.3% | −12.1% | 15.7% | +12.9% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.30 | +479% | 1.55 | +54.1% | −24.5% | −39.6% | −8.3% | −2.5% | 15.0% | +18.1% |
| MCK Medical - DistributionMcKesson Corporation | 0.19 | +413% | 1.44 | +51.8% | −28.4% | −40.4% | −27.2% | +4.9% | 14.4% | +17.6% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.26 | +690% | 1.41 | +86.6% | −8.2% | — | — | — | 15.6% | +20.2% |
| ATI Manufacturing - Metal FabricationATI Inc. | 0.35 | +1,008% | 1.34 | +87.5% | −9.8% | −70.0% | −60.8% | +10.3% | 18.2% | +23.2% |
| CRS SteelCarpenter Technology Corporation | 0.43 | +1,082% | 1.30 | +29.5% | −29.2% | −72.1% | −50.7% | −18.9% | 19.1% | +23.8% |
Common questions
What was IWB's worst drawdown?
IWB's deepest decline since it began trading in 2000 was 55.4%, from October 2007 to March 2009. It took about three years from the low to climb back to its old high.
What were IWB's best and worst years?
Over 25 full calendar years, IWB's best year was 2013, when it returned 32.8%. Its worst was 2008, with a return of -37.4%.
Is there a better investment than IWB?
Among IWB's popular alternatives, FNDX earned more than IWB with less volatility over the past 5 years: 13.5% a year at 14.9% volatility, against 11.9% a year at 17.2%. SPYM tracks the same thing for 0.02% a year against IWB's 0.15%, and has kept pace over the past decade: about $130 less in fees on $10,000 over 10 years.
Is IWB more volatile than the S&P 500?
No. IWB's volatility over the past 5 years was 17.2%, 1.0 times the S&P 500's 17.5%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IWB's return lands within 17.2% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is IWB's Sharpe ratio?
IWB's Sharpe ratio over the past 5 years was 0.74, against 0.71 for the S&P 500, so IWB earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.
How correlated is IWB with the S&P 500?
Over the past 5 years, IWB's monthly returns had a correlation of 1.00 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IWB instead: the lower it is, the more that option would diversify a IWB holding.
What are the best alternatives to IWB?
Of the 25 popular alternatives we compared, five outperformed IWB in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SPYM, VOO and IVV.
Did IWB outperform the S&P 500?
IWB finished ahead of the S&P 500 (SPY) in six of 25 full calendar years. In 2025, it returned +17.2%, against +17.7% for the index.
How did IWB do in stock market crashes?
IWB fell less than the S&P 500 (SPY) in none of the nine major crashes it has traded through, and further in four. The clearest case was the 2015 China and oil sell-off, when IWB fell 14.0% and the S&P 500 fell 12.8%.
What diversifies IWB?
These had a low correlation with IWB over the past 5 years and still earned a positive 5-year return: among large ETFs, GLD (correlation 0.16), XLE (correlation 0.29) and AMLP (correlation 0.47); among large stocks, CAH (correlation 0.30), MCK (correlation 0.19) and MPC (correlation 0.26). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than IWB's. Returns within 0.5 points or 3% of IWB's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to IWB
SPYMState Street SPDR Portfolio S&P 500 ETF- VOOVanguard S&P 500 ETF
IVViShares Core S&P 500 ETF
SPYState Street SPDR S&P 500 ETF- DYNFiShares U.S. Equity Factor Rotation Active ETF
VVVanguard Morningstar Large-Cap ETF
IWFiShares Russell 1000 Growth ETF
IWDiShares Russell 1000 Value ETF
RSPInvesco S&P 500 Equal Weight ETF
SCHXSchwab U.S. Large-Cap ETF- VTIVanguard Morningstar Total Stock Market ETF
ITOTiShares Core S&P Total U.S. Stock Market ETF