# How iShares Russell 1000 Growth ETF (IWF) compares with the whole market and its popular alternatives

> Source: EasyCompare research, https://easycompare.io/research/iwf
> Data as of October 20, 2026. Total returns include reinvested dividends. Past performance does not predict future results; nothing here is investment advice.

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IWF alone. It places IWF (iShares Russell 1000 Growth 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 IWF stands in the market, and of the alternatives worth a closer look.

Period covered: IWF'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.

## Key findings

- **What you're buying:** IWF charges 0.18% a year; VUG (Vanguard Morningstar Growth ETF) tracks the same thing for 0.03%. 55% of IWF sits in technology, against 38% for the S&P 500.
- **Right now:** IWF has trailed the market, rising 3.3% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. On the flip side, after a 23.4% loss from December 2024 to April 2025, IWF has bounced 23.6% off the low.
- **Fund or market?:** IWF rose 2.6% over the past 3 months, in line with the US large-cap growth ETF VUG (Vanguard Morningstar Growth ETF), which rose 4.0%. The S&P 500 rose 3.9%.
- **Long term:** Over the past decade, IWF returned 17.8% a year against 15.5% a year for the S&P 500 (416% in total against 321%). That said, over 5 years IWF trailed the index: 74.1% against 81.7%.
- **In a crash:** In the 2022 bear market, IWF fell 31.2%, against 24.5% for the S&P 500. That was more than DYNF (iShares U.S. Equity Factor Rotation Active ETF, 26.0%) but less than VUG (Vanguard Morningstar Growth ETF, 33.7%). IWF fell further than the S&P 500 in two of the last three sell-offs, including the 2022 bear market (31.2% against 24.5%).
- **Diversification:** IWF is more of the same, not a cushion: a correlation of 0.94 with the S&P 500 over 5 years and 0.94 with the total US market, more closely than 90% of ETFs with at least $100 million in assets. When the S&P 500 had a down month, IWF usually fell with it (18 of 22 months).
- **Better options**
  - **Nearby categories and themes:** MGC (Vanguard Morningstar Mega Cap ETF, US large-cap equity) and AVLV (Avantis U.S. Large Cap Value ETF, US large-cap value) earned more than IWF with less volatility over the past 5 years. MGC returned 13.4% a year at 17.4% volatility, against 11.7% a year at 21.8%.
  - **Versus the S&P 500:** The S&P 500 matched IWF's return over the past 5 years (12.7% a year against 11.7%) with 21% less volatility.
  - **Whole market:** 113 of the 3,633 stocks and funds worth at least $500 million earned more than IWF with less volatility over the past 5 years, among them VOO (Vanguard S&P 500 ETF), BRK-B (Berkshire Hathaway) and BRK-A (Berkshire Hathaway).

## How much would $10,000 in IWF have grown?

This chart tracks a hypothetical $10,000 investment in IWF over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IWF over the same span and IWF's popular alternatives, among those that traded for the entire period.

- $10,000 invested in IWF at the end of September 2001 would have grown to $147,031 by September 2026, more than 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 IWF, and BNS finished highest, at $559,177.

## IWF 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.

- IWF's deepest decline since it began trading in 2000 was 64.2%, from July 2000 to March 2009. It took about four years from the low to climb back to its old high.
- Over 25 full calendar years, IWF's best was 2023, when it returned 42.6%, and its worst was 2008, when it lost 38.1%. It lost money in five of those years.
- IWF is 5.2% below its all-time high.

- Type: ETF, Broad Market (Asset Management - Global)
- Trading since: May 26, 2000
- Assets: $125B
- Expense ratio: 0.18%
- Volatility (5 years): 21.8%; Sharpe ratio: 0.62
- Worst decline ever: −64.2%, from July 17, 2000 to March 9, 2009; back at its high by September 18, 2013

| Period | IWF total return |
| --- | --- |
| 1 month | −3.0% |
| 3 months | +2.6% |
| 6 months | +3.3% |
| year to date | +4.1% |
| 1 year | +4.0% |
| 3 years | +87.7% |
| 5 years | +74.1% |
| 10 years | +416% |

## IWF against the whole market

Where IWF ranks among every stock and fund, and what across the market has done better.

### How does IWF rank among all ETFs?

This section ranks IWF on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history.

- IWF's 10-year return ranks in the top 4% of the 958 ETFs with at least $100 million in assets with 10 years of history.
- IWF is among the more volatile ETFs: its price swings rank in the bottom 20% of the 1,560 ETFs with at least $100 million in assets, where the top is the calmest.

| Measure | IWF | Rank |
| --- | --- | --- |
| 1-year return | +4.0% | 1,638 of 2,485 (top 66%) |
| 3-year return | +87.7% | 404 of 1,949 (top 21%) |
| 5-year return | +74.1% | 323 of 1,560 (top 21%) |
| 10-year return | +416% | 36 of 958 (top 4%) |
| Volatility, 5 years | 21.8% | 1,242 of 1,560 (top 80%) |
| Sharpe ratio, 5 years | 0.62 | 679 of 1,560 (top 44%) |
| Worst decline, past 10 years | −32.7% | 248 of 951 (top 27%) |

### What has beaten IWF 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).

- 17 stocks and 96 ETFs worth at least $500 million sit in the green region: each earned more than IWF over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half IWF's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 49% less than IWF's 21.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.62 for IWF. DXJ earned the most, 26.6% a year, while still swinging less than IWF (19.1% against 21.8%).
- Among IWF's popular alternatives, DYNF is in the region. DYNF earned 14.7% a year against 11.7% a year for IWF, at 17.5% volatility, 20% less than IWF's 21.8%.

### Is there a better investment than IWF?

The table below lists investments that beat IWF 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.

- Among IWF's popular alternatives, DYNF earned more than IWF with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 11.7% a year at 21.8%.
- A cheaper fund that has kept up over the past decade is VUG (0.03% a year against 0.18%).
- Looking beyond its popular alternatives, MGC (US large-cap equity) and AVLV (US large-cap value) earned more than IWF with less volatility over the past 5 years. MGC returned 13.4% a year at 17.4% volatility, against 11.7% a year at 21.8%.

The 15 strongest of 113 investments that beat IWF over the past 5 years, out of 3,633 stocks and funds worth at least $500 million.

| Investment | Group | Annual return (5 years) | Volatility | Sharpe | Worst decline (10 years) | 10Y return | Correlation with IWF | Better on |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| IWF: iShares Russell 1000 Growth ETF (this page) |  | +11.7% | 21.8% | 0.62 | −32.7% | +416% |  |  |
| [RY](https://easycompare.io/research/ry): Royal Bank of Canada | Banks | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.45 | Higher return, lower volatility; Higher return in most periods |
| [MPLX](https://easycompare.io/research/mplx): MPLX Lp | Oil & Gas Midstream | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.29 | Higher return, lower volatility; Higher return in most periods |
| BKLC: BNY Mellon US Large Cap Core Equity ETF | US Large-Cap Equity | +13.8% | 17.3% | 0.84 | −26.2% | — | 0.96 | Higher return, lower volatility; Higher Sharpe, smaller worst decline; Higher return in most periods |
| DXJ: WisdomTree Japan Hedged Equity Fund | International Equity | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.46 | Higher return, lower volatility; Higher return in most periods |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | International Equity | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.32 | Higher return, lower volatility; Higher return in most periods |
| [TD](https://easycompare.io/research/td): The Toronto-Dominion Bank | Banks | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.41 | Higher return, lower volatility; Higher return in most periods |
| [JNJ](https://easycompare.io/research/jnj): Johnson & Johnson | Pharmaceuticals | +12.7% | 17.9% | 0.76 | −27.4% | +196% | -0.01 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [BNS](https://easycompare.io/research/bns): The Bank of Nova Scotia | Banks | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.63 | Higher return, lower volatility; Higher return in most periods |
| [RSG](https://easycompare.io/research/rsg): Republic Services, Inc. | Environmental Services | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.26 | Higher return, lower volatility; Higher return in most periods |
| [NVS](https://easycompare.io/research/nvs): Novartis AG | Pharmaceuticals | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.15 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | Gold | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.09 | Higher return, lower volatility; Higher Sharpe, smaller worst decline |
| EFV: iShares MSCI EAFE Value ETF | International Equity | +13.6% | 15.9% | 0.88 | −43.2% | +157% | 0.43 | Higher return, lower volatility; Higher return in most periods |
| FNDF: Schwab Fundamental International Large Company Index ETF | International Equity | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.53 | Higher return, lower volatility; Higher return in most periods |
| AVDV: Avantis International Small Cap Value ETF | International Equity | +13.9% | 17.4% | 0.84 | −43.0% | — | 0.55 | Higher return, lower volatility; Higher return in most periods |
| IOO: iShares Global 100 ETF | Global Equity | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.91 | Higher return, lower volatility; Higher return in most periods |

## IWF against its popular alternatives

The investments people most often weigh against IWF, compared period by period and year by year.

### How do IWF'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.

- Five of the 19 popular alternatives, led by SPMO, DYNF and SPYG, were both more rewarding and calmer than IWF over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, IWF returned 11.7% a year, less than the S&P 500's 12.7%, with higher volatility (21.8% against 17.1%).

### Has IWF consistently beaten its popular alternatives?

This section compares IWF with the investments people most often weigh against it, checking each one over eight periods from one month to ten years.

- 13 of the 23 popular alternatives, led by SCHG, XLK and QQQ, outperformed IWF in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SCHG, XLK and QQQ outperformed IWF in every long-term period and in all but one short-term period, the most consistent record in the group.
- SPMO, SPYG and IVW earned more for the risk they took than IWF (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.

| Investment | 1Y return | 3Y return | 5Y return | 10Y return | Periods ahead of IWF | Verdict | Sharpe |
| --- | --- | --- | --- | --- | --- | --- | --- |
| IWF: iShares Russell 1000 Growth ETF (this page) | +4.0% | +87.7% | +74.1% | +416% |  |  | 0.62 |
| [SCHG](https://easycompare.io/research/schg): Schwab U.S. Large-Cap Growth ETF | +10.4% | +99.2% | +85.4% | +451% | 5/5 short-term, 3/3 long-term | all-weather | 0.67 |
| [XLK](https://easycompare.io/research/xlk): State Street Technology Select Sector SPDR ETF | +29.3% | +131% | +143% | +767% | 4/5 short-term, 3/3 long-term | all-weather | 0.82 |
| [QQQ](https://easycompare.io/research/qqq): Invesco QQQ Trust, Series 1 | +17.9% | +106% | +97.2% | +553% | 4/5 short-term, 3/3 long-term | all-weather | 0.71 |
| MGK: Vanguard Morningstar Mega Cap Growth ETF | +11.9% | +104% | +88.2% | +464% | 4/5 short-term, 3/3 long-term | all-weather | 0.67 |
| SPMO: Invesco S&P 500 Momentum ETF | +18.1% | +156% | +136% | +499% | 3/5 short-term, 3/3 long-term | consistent | 0.93 |
| [VUG](https://easycompare.io/research/vug): Vanguard Morningstar Growth ETF | +10.2% | +100% | +78.6% | +419% | 5/5 short-term, 2/3 long-term | consistent | 0.63 |
| [SPYG](https://easycompare.io/research/spyg): State Street SPDR Portfolio S&P 500 Growth ETF | +15.8% | +110% | +86.5% | +418% | 5/5 short-term, 2/3 long-term | consistent | 0.69 |
| VOOG: Vanguard S&P 500 Growth ETF | +15.8% | +110% | +86.0% | +416% | 5/5 short-term, 2/3 long-term | consistent | 0.69 |
| [IVW](https://easycompare.io/research/ivw): iShares S&P 500 Growth ETF | +15.7% | +109% | +85.3% | +413% | 5/5 short-term, 2/3 long-term | consistent | 0.68 |
| IUSG: iShares Core S&P U.S. Growth ETF | +15.9% | +107% | +83.7% | +405% | 5/5 short-term, 2/3 long-term | consistent | 0.68 |
| [DYNF](https://easycompare.io/research/dynf): iShares U.S. Equity Factor Rotation Active ETF | +17.1% | +106% | +98.5% | — | 5/5 short-term, 2/3 long-term | consistent | 0.87 |
| IWY: iShares Russell Top 200 Growth ETF | +4.7% | +90.1% | +83.8% | +466% | 4/5 short-term, 2/3 long-term | consistent | 0.67 |
| FBCG: Fidelity Blue Chip Growth ETF | +14.0% | +114% | +78.6% | — | 3/5 short-term, 2/3 long-term | consistent | 0.58 |
| CGGR: Capital Group Growth ETF | +5.8% | +97.0% | — | — | 5/5 short-term, 1/3 long-term |  | — |
| ILCG: iShares Morningstar Growth ETF | +9.1% | +96.5% | +69.7% | +403% | 3/5 short-term, 1/3 long-term |  | 0.59 |
| FFLG: Fidelity Fundamental Large Cap Growth ETF | +11.3% | +107% | +55.5% | — | 2/5 short-term, 1/3 long-term |  | 0.47 |
| FDG: American Century Focused Dynamic Growth ETF | +5.4% | +113% | +52.4% | — | 1/5 short-term, 1/3 long-term |  | 0.46 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | +16.4% | +76.9% | +71.5% | +293% | 5/5 short-term, 0/3 long-term |  | 0.71 |
| [IWD](https://easycompare.io/research/iwd): iShares Russell 1000 Value ETF | +27.7% | +84.4% | +71.7% | +205% | 5/5 short-term, 0/3 long-term |  | 0.81 |
| GRNY: Tidal Trust III - Fundstrat Granny Shots US Large Cap ETF | +7.7% | — | — | — | 3/5 short-term, 0/3 long-term |  | — |
| [VONG](https://easycompare.io/research/vong): Vanguard Russell 1000 Growth ETF | +4.1% | +88.3% | +75.1% | +422% | 0/5 short-term, 0/3 long-term |  | 0.63 |
| IWP: iShares Russell Mid-Cap Growth ETF | −4.5% | +55.0% | +17.4% | +204% | 0/5 short-term, 0/3 long-term |  | 0.26 |
| TCHP: T. Rowe Price Blue Chip Growth ETF | +2.4% | +86.0% | +49.8% | — | 0/5 short-term, 0/3 long-term |  | 0.46 |

### How did IWF do year by year?

This table shows each investment's total return in every full calendar year since 2001, along with where IWF ranked among its popular alternatives each year.

- IWF finished ahead of the S&P 500 in 12 of its 25 full calendar years, and ahead of it in each of the last three.
- Among its popular alternatives, QQQ came out ahead of IWF most often, in 16 of the 25 years both traded.
- Ranked against its popular alternatives each year, IWF finished in the top quarter in no of 25 years and in the bottom quarter in no. In 2025, it ranked 16 of 22.

| Year | IWF | SPY |
| --- | --- | --- |
| 2025 | +18.3% | +17.7% |
| 2024 | +33.1% | +24.9% |
| 2023 | +42.6% | +26.2% |
| 2022 | −29.3% | −18.2% |
| 2021 | +27.4% | +28.7% |
| 2020 | +38.3% | +18.3% |
| 2019 | +35.9% | +31.2% |
| 2018 | −1.7% | −4.6% |
| 2017 | +29.9% | +21.7% |
| 2016 | +7.0% | +12.0% |

## Risk and diversification

How IWF 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 IWF's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high.

- In four of IWF's five worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after IWF fell 64.2% from July 2000 to March 2009; it did not regain that peak until September 2013, four years later.

| Decline | Peak | Low | Back at the high | SPY over the same dates | Market event |
| --- | --- | --- | --- | --- | --- |
| −64.2% | July 17, 2000 | March 9, 2009 | September 18, 2013 | −47.7% | dot-com bust |
| −32.7% | December 27, 2021 | October 14, 2022 | January 10, 2024 | −24.2% | 2022 bear market |
| −31.5% | February 19, 2020 | March 23, 2020 | June 8, 2020 | −33.7% | Covid crash |
| −23.4% | December 16, 2024 | April 8, 2025 | June 26, 2025 | −17.7% |  |
| −21.9% | October 1, 2018 | December 24, 2018 | April 12, 2019 | −19.2% | late-2018 sell-off |

### How did IWF do in stock market crashes?

This section measures how far IWF, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000.

- Among its popular alternatives, SPMO held up best, falling less than IWF in three of the five crashes they both traded through.
- IWF began trading after the dot-com bust, but two of its popular alternatives lived through it. The mildest fall among them was XLK's 82.0%, against 47.5% for the S&P 500.
- IWF fell further than the S&P 500 in three of the nine crashes it has traded through. The clearest case was the 2022 bear market, when IWF fell 31.2% and the S&P 500 fell 24.5%.

| Crash | Dates | IWF fall | SPY fall |
| --- | --- | --- | --- |
| Dot-com bust | March 10, 2000 to October 9, 2002 | not trading | −47.5% |
| Global financial crisis | October 9, 2007 to March 9, 2009 | −51.2% | −55.2% |
| Flash crash | May 6, 2010 to May 7, 2010 | −2.0% | −1.5% |
| Euro debt crisis | July 22, 2011 to October 3, 2011 | −18.2% | −17.9% |
| China devaluation & oil rout | August 10, 2015 to February 11, 2016 | −13.4% | −12.8% |
| Volmageddon | February 2, 2018 to February 9, 2018 | −6.4% | −6.5% |
| Q4 2018 selloff | September 21, 2018 to December 24, 2018 | −21.9% | −19.3% |
| COVID crash | February 19, 2020 to March 23, 2020 | −31.5% | −33.7% |
| 2022 bear market | January 4, 2022 to October 12, 2022 | −31.2% | −24.5% |
| SVB / regional bank stress | March 8, 2023 to March 13, 2023 | −3.4% | −3.4% |

### How closely does IWF 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.

- Seven of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than IWF's 1.06, led by SPMO, XLK and QQQ.
- SPMO took just 76% of the S&P 500's losses, against 104% for IWF, while still keeping 102% of its gains.
- Over the past 10 years, IWF captured 110% of the S&P 500's gains in rising months and 104% of its losses in falling months, with a beta of 1.10. It amplified the market's moves in both directions.

Measured over the past 10 years of monthly returns against SPY.

| Investment | Upside capture | Downside capture | Beta |
| --- | --- | --- | --- |
| IWF: iShares Russell 1000 Growth ETF (this page) | 110% | 104% | 1.10 |
| [SCHG](https://easycompare.io/research/schg): Schwab U.S. Large-Cap Growth ETF | 114% | 107% | 1.12 |
| [XLK](https://easycompare.io/research/xlk): State Street Technology Select Sector SPDR ETF | 128% | 100% | 1.19 |
| [QQQ](https://easycompare.io/research/qqq): Invesco QQQ Trust, Series 1 | 118% | 102% | 1.13 |
| MGK: Vanguard Morningstar Mega Cap Growth ETF | 115% | 107% | 1.14 |
| SPMO: Invesco S&P 500 Momentum ETF | 102% | 76.0% | 0.99 |
| [VUG](https://easycompare.io/research/vug): Vanguard Morningstar Growth ETF | 113% | 108% | 1.13 |
| [SPYG](https://easycompare.io/research/spyg): State Street SPDR Portfolio S&P 500 Growth ETF | 109% | 102% | 1.08 |
| IUSG: iShares Core S&P U.S. Growth ETF | 109% | 103% | 1.08 |
| IWY: iShares Russell Top 200 Growth ETF | 113% | 102% | 1.09 |
| ILCG: iShares Morningstar Growth ETF | 109% | 104% | 1.12 |
| [QUAL](https://easycompare.io/research/qual): iShares MSCI USA Quality Factor ETF | 98.0% | 102% | 1.00 |
| [IWD](https://easycompare.io/research/iwd): iShares Russell 1000 Value ETF | 87.0% | 99.0% | 0.93 |
| [VONG](https://easycompare.io/research/vong): Vanguard Russell 1000 Growth ETF | 111% | 104% | 1.10 |
| IWP: iShares Russell Mid-Cap Growth ETF | 94.0% | 110% | 1.11 |

### What diversifies IWF?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions).

- Moving a fifth of the money in IWF into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+13.5% for IWF alone, +15.0% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of IWF over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, MCK and MPC have moved largely independently of IWF over the past 5 years, with correlations of 0.20 or lower, and each still earned a positive 5-year return.

| Investment | Correlation with IWF | 5Y return | Volatility | Sharpe | Rose in IWF's 5 down years |
| --- | --- | --- | --- | --- | --- |
| LVHI: Franklin International Low Volatility High Dividend Index ETF | 0.32 | +119% | 11.1% | 1.48 | 1 of 5 |
| DXJ: WisdomTree Japan Hedged Equity Fund | 0.46 | +225% | 19.1% | 1.34 | 1 of 5 |
| EMLP: First Trust North American Energy Infrastructure Fund | 0.41 | +101% | 14.5% | 1.04 | 1 of 5 |
| EWP: iShares MSCI Spain ETF | 0.38 | +140% | 20.3% | 0.97 | 0 of 5 |
| [GLD](https://easycompare.io/research/gld): SPDR Gold Shares | 0.09 | +126% | 18.9% | 0.96 | 1 of 5 |
| [XLE](https://easycompare.io/research/xle): State Street Energy Select Sector SPDR ETF | 0.07 | +177% | 25.5% | 0.93 | 1 of 5 |
| AMLP: Alerian MLP ETF | 0.28 | +111% | 18.9% | 0.89 | 1 of 5 |
| EFV: iShares MSCI EAFE Value ETF | 0.43 | +89.0% | 15.9% | 0.88 | 0 of 5 |

## Common questions

### What was IWF's worst drawdown?

IWF's deepest decline since it began trading in 2000 was 64.2%, from July 2000 to March 2009. It took about four years from the low to climb back to its old high.

### What were IWF's best and worst years?

Over 25 full calendar years, IWF's best year was 2023, when it returned 42.6%. Its worst was 2008, with a return of -38.1%.

### Is there a better investment than IWF?

Among IWF's popular alternatives, DYNF earned more than IWF with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 11.7% a year at 21.8%. A cheaper fund that has kept up over the past decade is VUG (0.03% a year against 0.18%).

### Is IWF more volatile than the S&P 500?

Yes. IWF's volatility over the past 5 years was 21.8%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IWF's return lands within 21.8% 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 IWF's Sharpe ratio?

IWF's Sharpe ratio over the past 5 years was 0.62, against 0.79 for the S&P 500, so IWF earned less 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 IWF with the S&P 500?

Over the past 5 years, IWF's monthly returns had a correlation of 0.94 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 IWF instead: the lower it is, the more that option would diversify a IWF holding.

### What are the best alternatives to IWF?

Of the 23 popular alternatives we compared, 13 outperformed IWF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SCHG, XLK and QQQ.

### Did IWF outperform the S&P 500?

IWF finished ahead of the S&P 500 (SPY) in 12 of 25 full calendar years. In 2025, it returned +18.3%, against +17.7% for the index.

### How did IWF do in stock market crashes?

IWF fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in three. The clearest case was the 2022 bear market, when IWF fell 31.2% and the S&P 500 fell 24.5%.

### What diversifies IWF?

These had a low correlation with IWF over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), DXJ (correlation 0.46) and EMLP (correlation 0.41); among large stocks, CAH (correlation 0.20), MCK (correlation 0.06) and MPC (correlation 0.12). A correlation near zero means the two have moved largely independently.

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## Explore further

- Full page with charts: https://easycompare.io/research/iwf
- All research pages: https://easycompare.io/llms.txt
- Compare the entire market against IWF live: https://betterthanspy.com/?b=IWF&utm_source=easycompare&utm_medium=research