# IWM ETF: fees, returns, drawdowns and holdings

> What IWM holds, its 0.19% yearly fee, returns by year, its worst drop, and which Tactfolio strategies hold it. Updated daily.

iShares Russell 2000 ETF (IWM) is an exchange-traded fund (ETF) run by iShares (BlackRock). This fund holds stocks of about 2,000 small US companies. It charges 0.19% a year. From May 2000 to October 2026 it returned about 8.4% a year, and its worst drop was −58.6%.

Written by [the Tactfolio research team](https://tactfolio.com/about/editorial-policy). Fund facts checked October 16, 2026. Prices through October 16, 2026.

## Key points

- Expense ratio: 0.19% a year (about $19 on $10,000).
- Started trading on May 22, 2000.
- Last close: $270.44 on October 16, 2026.
- Return over the last year: 11.5%.
- Worst drop since 2000: −58.6%.
- 9 Tactfolio classic strategies hold it.

## How has IWM done since 2000?

From May 2000 to October 2026, IWM returned about 8.4% a year. The S&P 500 returned about 8.6% a year over the same dates. Say you put in $10,000 at the start. It would have been worth about $83,198 at the end, with every dividend reinvested.

| Period | IWM | S&P 500 (SPY) |
| --- | --- | --- |
| 1 month | −4.8% | 1.5% |
| 3 months | −8.3% | 1.9% |
| 6 months | 0.7% | 9.3% |
| Year to date | 10.6% | 12.8% |
| 1 year | 11.5% | 16.8% |
| 3 years, per year | 17.3% | 22.0% |
| 5 years, per year | 5.0% | 12.8% |
| 10 years, per year | 9.8% | 15.4% |
| Since 2000, per year | 8.4% | 8.6% |

Periods longer than a year show the return per year (CAGR). Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

## IWM returns by month and year

IWM rose in 194 of its 318 months (61%). Its best month was November 2020, at 18.2%. Its worst was March 2020, at −21.5%.

| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Full year |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2026 (part) | 5.5% | 0.7% | −5.0% | 12.1% | 4.5% | 3.7% | −3.1% | 0.9% | −5.2% | −2.7% |  |  | 10.6% |
| 2025 | 2.5% | −5.2% | −6.9% | −2.3% | 5.2% | 5.5% | 1.7% | 7.2% | 3.2% | 1.8% | 1.0% | −0.7% | 12.7% |
| 2024 | −3.9% | 5.6% | 3.5% | −6.9% | 5.0% | −1.1% | 10.3% | −1.7% | 0.7% | −1.4% | 11.1% | −8.4% | 11.4% |
| 2023 | 9.8% | −1.7% | −4.9% | −1.8% | −0.8% | 8.1% | 6.1% | −5.1% | −5.9% | −6.9% | 9.2% | 12.1% | 16.8% |
| 2022 | −9.5% | 1.0% | 1.2% | −9.9% | 0.2% | −8.4% | 10.6% | −2.0% | −9.7% | 11.2% | 2.2% | −6.5% | −20.5% |
| 2021 | 4.9% | 6.2% | 1.4% | 1.8% | 0.3% | 1.9% | −3.6% | 2.2% | −2.9% | 4.3% | −4.3% | 2.3% | 14.5% |
| 2020 | −3.1% | −8.8% | −21.5% | 13.9% | 6.6% | 3.4% | 2.9% | 5.5% | −3.3% | 2.2% | 18.2% | 8.6% | 20.0% |
| 2019 | 11.3% | 5.2% | −2.1% | 3.4% | −7.8% | 7.0% | 0.7% | −4.9% | 2.0% | 2.7% | 4.1% | 2.8% | 25.4% |
| 2018 | 2.6% | −3.8% | 1.2% | 1.0% | 6.2% | 0.6% | 1.7% | 4.3% | −2.3% | −11.0% | 1.7% | −12.0% | −11.1% |
| 2017 | 0.3% | 1.9% | 0.0% | 1.1% | −2.0% | 3.4% | 0.9% | −1.3% | 6.3% | 0.7% | 2.9% | −0.4% | 14.6% |
| 2016 | −8.6% | −0.2% | 8.0% | 1.7% | 2.2% | 0.0% | 5.9% | 1.8% | 1.1% | −4.6% | 11.1% | 2.9% | 21.6% |
| 2015 | −3.3% | 5.9% | 1.8% | −2.6% | 2.2% | 0.8% | −1.1% | −6.3% | −4.9% | 5.6% | 3.3% | −5.0% | −4.5% |
| 2014 | −2.8% | 4.8% | −0.8% | −3.8% | 0.8% | 5.3% | −6.0% | 4.8% | −5.9% | 6.6% | 0.1% | 2.9% | 5.0% |
| 2013 | 6.2% | 1.0% | 4.7% | −0.4% | 3.9% | −0.8% | 7.3% | −3.2% | 6.5% | 2.4% | 4.0% | 2.0% | 38.7% |
| 2012 | 7.1% | 2.6% | 2.5% | −1.6% | −6.6% | 5.1% | −1.5% | 3.5% | 3.3% | −2.2% | 0.5% | 3.6% | 16.7% |
| 2011 | −0.4% | 5.5% | 2.5% | 2.6% | −1.8% | −2.4% | −3.4% | −8.9% | −11.2% | 15.1% | −0.4% | 0.5% | −4.4% |
| 2010 | −3.7% | 4.5% | 8.2% | 5.7% | −7.5% | −7.7% | 6.7% | −7.4% | 12.4% | 4.2% | 3.5% | 8.0% | 26.9% |
| 2009 | −9.7% | −12.0% | 7.8% | 15.4% | 3.4% | 1.8% | 9.2% | 2.9% | 5.6% | −6.5% | 3.1% | 7.9% | 28.5% |
| 2008 | −6.5% | −2.9% | −0.7% | 4.5% | 4.6% | −7.5% | 3.7% | 3.6% | −7.8% | −21.0% | −11.9% | 4.8% | −34.1% |
| 2007 | 1.7% | −0.7% | 1.0% | 1.6% | 4.4% | −1.4% | −7.0% | 2.1% | 1.9% | 2.9% | −6.9% | −0.6% | −1.8% |
| 2006 | 8.4% | 0.3% | 4.9% | 0.3% | −5.7% | 0.0% | −2.9% | 3.0% | 0.6% | 5.9% | 2.4% | 0.4% | 18.3% |
| 2005 | −4.1% | 1.6% | −2.8% | −5.7% | 6.5% | 4.1% | 6.6% | −2.0% | 0.1% | −3.9% | 5.8% | −0.7% | 4.5% |
| 2004 | 4.3% | 0.9% | 1.0% | −5.5% | 2.1% | 4.2% | −6.8% | −1.5% | 5.3% | 2.1% | 9.2% | 2.4% | 18.1% |
| 2003 | −2.1% | −3.0% | 0.2% | 10.3% | 10.9% | 1.1% | 6.5% | 4.8% | −1.9% | 8.7% | 3.7% | 1.8% | 47.9% |
| 2002 | −0.2% | −3.1% | 7.5% | 1.2% | −4.7% | −5.8% | −13.4% | −0.6% | −8.0% | 4.1% | 8.5% | −5.7% | −20.4% |
| 2001 | 5.4% | −6.7% | −4.6% | 8.3% | 2.2% | 3.1% | −5.6% | −2.4% | −14.6% | 6.5% | 7.6% | 5.5% | 1.8% |
| 2000 (part) |  |  |  |  | 4.1% | 8.7% | −2.8% | 7.0% | −3.3% | −4.5% | −10.0% | 7.9% | 5.6% |

Each month runs from the last close of the month before. The first month counts from the first close.

## How risky is IWM compared with the S&P 500?

Measured from October 2021 to October 2026, on the days both traded.

- **Beta 1.11.** When the S&P 500 moved 1% in a day, IWM tended to move about 1.11%.
- **Correlation 0.85.** IWM mostly moved with the S&P 500.
- **Up and down months.** In months the S&P 500 rose, IWM rose 97% as much on average. In months it fell, IWM fell 135% as much.

| Measure | IWM | S&P 500 (SPY) |
| --- | --- | --- |
| Return per year | 5.0% | 12.8% |
| Volatility | 22.4% | 17.1% |
| Worst drop | −31.9% | −24.5% |
| Sharpe ratio | 0.33 | 0.79 |
| Sortino ratio | 0.48 | 1.15 |
| Calmar ratio | 0.16 | 0.52 |

Volatility is how much the price swings in a year. The Sharpe ratio is return per unit of volatility, the Sortino ratio counts only the falls, and the Calmar ratio is the return per year over the worst drop. Higher ratios mean more return for the risk taken.

## Is IWM above its 200-day average?

IWM closed 2.2% below its 200-day average on October 16, 2026. A rule that holds IWM only above that average would be out of it today.

- Its 50-day average is 4.4% above its 200-day average.
- It closed 11.1% below its highest close of the last 52 weeks.

A moving average is the average close over the last so many days. Trend rules such as [the 10-month moving average strategy](https://tactfolio.com/strategies/faber-10-month-moving-average.md) hold a fund only while it is above one. You can [build that rule for IWM](https://tactfolio.com/builder) and backtest it in a minute.

## What was IWM's worst drop?

A drawdown is how far a fund falls from its last high point. IWM's worst fall was −58.6%, from July 13, 2007 to March 9, 2009. It got back to that high on February 8, 2011. On October 16, 2026 it was 11.1% below its highest close.

| Drop | Started | Bottom | Back to the high | Fall took | Recovery took |
| --- | --- | --- | --- | --- | --- |
| −58.6% | Jul 13, 2007 | Mar 9, 2009 | Feb 8, 2011 | 20 months | 23 months |
| −41.1% | Aug 31, 2018 | Mar 23, 2020 | Nov 9, 2020 | 19 months | 8 months |
| −38.7% | Jul 17, 2000 | Oct 9, 2002 | Oct 13, 2003 | 2.2 years | 12 months |
| −31.9% | Nov 8, 2021 | Jun 16, 2022 | Nov 6, 2024 | 7 months | 2.4 years |
| −28.9% | Apr 29, 2011 | Oct 3, 2011 | Sep 13, 2012 | 5 months | 11 months |

Big drops are normal for some funds. They matter because selling during a drop locks in the loss.

## What does IWM hold?

This fund holds stocks of about 2,000 small US companies. Small company stocks can grow faster than big ones, but their prices often move up and down more. One share gives you a small piece of many companies at once.

It tracks the Russell 2000 Index. It had 1,983 holdings as of October 15, 2026, according to iShares (BlackRock).

| Fact | IWM |
| --- | --- |
| Full name | iShares Russell 2000 ETF |
| Issuer | iShares (BlackRock) |
| Expense ratio | 0.19% a year |
| Started trading | May 22, 2000 |
| Tracks | Russell 2000 Index |
| Type | US stocks, ETF |
| Holdings | 1,983 holdings as of October 15, 2026 |
| Facts checked | October 16, 2026 on the [iShares (BlackRock) fund page](https://www.ishares.com/us/products/239710/ishares-russell-2000-etf) |

## What is the IWM expense ratio?

IWM charges 0.19% a year. An expense ratio is the yearly fee a fund takes to run itself. On $10,000, a 0.19% fee comes to about $19 a year. Of the 162 ETFs on Tactfolio, 33% charge more.

You never get a bill for it. The fund takes the fee out of its own value a little each day.

## Which Tactfolio strategies hold IWM?

9 classic strategies hold IWM at least some of the time. Each is a set of written rules you can open, test and copy.

- [Hybrid Asset Allocation (HAA)](https://tactfolio.com/strategies/hybrid-asset-allocation.md), by Wouter Keller and JW Keuning, 2023
- [Bold Asset Allocation (BAA)](https://tactfolio.com/strategies/bold-asset-allocation.md), by Wouter Keller, 2022
- [Defensive Asset Allocation (DAA)](https://tactfolio.com/strategies/defensive-asset-allocation.md), by Wouter Keller and JW Keuning, 2018
- [Protective Asset Allocation (PAA)](https://tactfolio.com/strategies/protective-asset-allocation.md), by Wouter Keller and JW Keuning, 2016
- [Vigilant Asset Allocation G12 (VAA-G12)](https://tactfolio.com/strategies/vigilant-asset-allocation-g12.md), by Wouter Keller and JW Keuning, 2017
- [GTAA 13: Faber’s 13-asset tactical allocation](https://tactfolio.com/strategies/gtaa-13.md), by Mebane Faber, 2013
- [GTAA Aggressive 3 (Faber GTAA AGG3)](https://tactfolio.com/strategies/gtaa-aggressive-3.md), by Mebane Faber, 2013
- [GTAA Aggressive 6 (Faber GTAA AGG6)](https://tactfolio.com/strategies/gtaa-aggressive-6.md), by Mebane Faber, 2013
- [US Risk Parity Trend-Following (The Trend is Our Friend)](https://tactfolio.com/strategies/us-risk-parity-trend-following.md), by Andrew Clare, James Seaton, Peter N. Smith, and Stephen Thomas, 2016

## How does IWM compare with similar ETFs?

Funds that can stand in for IWM:

- [SCHA](https://tactfolio.com/etf/SCHA.md): Schwab U.S. Small-Cap ETF, 0.03% a year
- [VB](https://tactfolio.com/etf/VB.md): Vanguard Morningstar Small-Cap ETF, 0.03% a year
- [IJR](https://tactfolio.com/etf/IJR.md): iShares Core S&P Small-Cap ETF, 0.06% a year
- [VBR](https://tactfolio.com/etf/VBR.md): Vanguard Morningstar Small-Cap Value ETF, 0.05% a year

See [all 8 IWM alternatives](https://tactfolio.com/alternatives/IWM.md), compared on the same dates as IWM.

## Test IWM in your own rules

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the [builder](https://tactfolio.com/builder), add IWM, and see how a rule such as "hold it only above its 200-day average" would have done. Strategies run on daily prices and hold US stocks and ETFs only.

## The details

Prices come from Tactfolio's stored daily prices for IWM and SPY. Each close is adjusted for splits, and dividends are reinvested on the day the fund pays them out. CAGR is the steady yearly return that turns the starting value into the ending value. Volatility is the yearly standard deviation of daily returns. Beta and correlation compare daily returns with the S&P 500 over the same dates.

Fund facts come from iShares (BlackRock). We checked them on October 16, 2026. Read [what a backtest simulates](https://tactfolio.com/docs/backtests.md) and [how to read drawdown and CAGR](https://tactfolio.com/docs/concepts/reading-a-backtest.md) for more on these measures.

## Research and test it

- [S&P 500 index](https://tactfolio.com/learn/sp500-index): The S&P 500 tracks about 500 large US companies. Learn how stocks get in, how the index is weighted, how to invest in it, and how far it has fallen before.
- [What is an ETF](https://tactfolio.com/learn/what-is-an-etf): An ETF is a fund that trades like a stock. Learn how ETFs work, what they cost, the main types, and the risks, with SEC sources.
- [ETF screener](https://tactfolio.com/screener.md): A free ETF screener for 162 US-listed funds. Filter by type, issuer and fee, sort by returns or worst drop, and compare funds side by side.
- [ETF expense ratio](https://tactfolio.com/learn/etf-expense-ratio): What an ETF expense ratio is, how the fund charges it, and how 0.03% vs 1% adds up over 10 and 30 years, with real fund examples.
- [Backtest a portfolio](https://tactfolio.com/trading-tools/backtest-portfolio): Backtest a portfolio of US stocks and ETFs. Enter tickers and shares, pick when to rebalance, and get the results with a link to share.
- [Backtesting](https://tactfolio.com/backtesting): Free backtesting software for stocks, ETFs, and crypto perps.

## Common questions

### What is the expense ratio of IWM?

IWM charges 0.19% a year, according to iShares (BlackRock) as of October 16, 2026. That is about $19 a year for every $10,000 you hold.

### When did IWM start trading?

IWM started trading on May 22, 2000. It is run by iShares (BlackRock).

### What does IWM track?

IWM tracks the Russell 2000 Index. This fund holds stocks of about 2,000 small US companies.

### How much has IWM returned per year?

From May 2000 to October 2026, IWM returned about 8.4% a year with dividends reinvested. Its worst drop was −58.6%. Past returns do not tell you what it will do next.

### Is IWM above its 200-day moving average?

On October 16, 2026, IWM closed 2.2% below its 200-day moving average. This page updates after each US market close.

### Which strategies use IWM?

9 of Tactfolio's classic strategies hold IWM, including Hybrid Asset Allocation (HAA), Bold Asset Allocation (BAA), Defensive Asset Allocation (DAA).

## Sources

- [iShares (BlackRock): iShares Russell 2000 ETF fund page](https://www.ishares.com/us/products/239710/ishares-russell-2000-etf)

> Not financial advice. Tactfolio is a research and automation tool. It is not a broker or a financial adviser. This page is for education only. Backtests are hypothetical. They show how rules would have done on past prices, not how they will do. All investing involves risk, including losing the money you put in.