IWM Fund Description

The iShares Russell 2000 ETF tracks a market-cap-weighted index of US small-cap stocks. The index selects stocks ranked 1,001-3,000 by market cap.

IWM ETF.com Insight

IWM is among the best in the crowded US small-cap field. The fund has billions in assets—roughly double that of its nearest competitor. The reason? The fund tracks the widely knownone of the best choices for broad-based, diversified small-cap exposure Russell 2000 index at a reasonable price with excellent liquidity. IWM’s broad basket makes it one of the most diversified funds in the entire segment, but also means the fund delves into micro-cap territory. This aspect of its portfolio shows up as high beta to our benchmark, which errs to the midcap side. IWM has rightly earned its huge asset base—its observed holding costs are lower than its headline fee, and it trades with phenomenally well, making it one of the best choices for broad-based, diversified small-cap exposure. (Insight updated 05/16/2014)

  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 09/18/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

IWM
0.34% -1.60% 0.71% 9.19% 19.27% 14.97% 8.74%

IWM (NAV)
0.21% -1.68% 0.53% 9.06% 19.22% 14.95% 8.73%

Russell 2000 Index
0.19% -1.71% 0.52% 9.04% 19.19% 14.96% 8.74%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IWM Top 10 Countries View All

IWM Top 10 Sectors

IWM Top 10 Holdings View All

IWM Summary Data

BlackRock

A company that produces and manages ETFs.

05/22/00

The first date of a fund's operations, as documented by the issuer.

Open-Ended Fund

The organizational structure of the fund or ETN.

0.24%

The net total annual fee a fund holder pays to the issuer.

$23.93 B

The market value of total assets that a fund has accumulated and now manages on behalf of investors.

$3.92 B

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

IWM Portfolio Data

$1.82 B

Describes the average of each stock's market cap (share price x shares outstanding) scaled by its weight in the portfolio.

104.40

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.25

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.28%

The ratio of distributions paid by the fund over the past 12 months, divided by the fund’s NAV.

09/24/14

The date on which a security's price excludes an upcoming dividend.

1,958

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

IWM Index Data

Russell 2000 Index

This is the benchmark an ETF is desigend to track or replicate.

Market Cap

A set of rules that the underlying index provider follows to weight its constituent securities.

Market Cap

A set of rules that the underlying index provider follows to select its constituent securities.

MSCI USA Small Cap

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

Related ETFs to IWM

VTWO, EWRS, IJR, VB, SCHA

ETFs from within the same segment or closely related segments with similar investment objectives or market exposures.

IWM Commentary & News

19 September 2014
ETF League Tables | ETF.com
18 September 2014
Weekly ETF Flows | ETF.com
18 September 2014
Daily ETF Flows | ETF.com

IWM ETF.com Efficiency Insight

Segment giant IWM is cheaper to hold than it looks. While the fund’s nominal fee is undercut significantly by a handful of funds, its actual holding costs as reflected in our tracking difference stats are among the cheapest in the segment. Better yet, we see little variability in tracking too. Launched in 2000 and with billions in AUM, the fund is a picture of stability. (Insight updated 05/16/2014)


Total Return - 09/18/2014
  • 1 Month

  • 3 Months

  • YTD

  • 1 Year

  • 3 Years

  • 5 Years

  • Max

Performance [as of 09/18/14] 1 Month 3 Month YTD 1 Year 3 Years 5 Years 10 Years

IWM
0.34% -1.60% 0.71% 9.19% 19.27% 14.97% 8.74%

IWM (NAV)
0.21% -1.68% 0.53% 9.06% 19.22% 14.95% 8.73%

Russell 2000 Index
0.19% -1.71% 0.52% 9.04% 19.19% 14.96% 8.74%

MSCI USA Small Cap
0.74% -0.15% 4.70% 13.17% 20.45% 16.55% --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IWM Portfolio Management

0.24%

The net annual fee a fund holder pays to the issuer.

0.01%

Compares returns of the fund's NAV to its underlying index for a daily series of overlapping 12 month periods. The median is the middle value of the results.

0.04%

Largest deviation in a positive direction of a fund's returns vs. its underlying index over the past 12 months.

-0.01%

Largest deviation in a negative direction of a fund's returns vs. its underlying index over the past 12 months.

IWM Tax Exposures

20.00% / 39.60%

The maximum long-term and short-term U.S. tax rates applicable to a realized capital gain.

0.00%

The average capital gains paid out to shareholders in the past 36 months, measured as a percent of net asset value (NAV) at the time.

Qualified dividends

IRS treatment of the majority of the fund's distributions.

No

ETFs that are structured as commodities pools and classified as limited partnerships by the IRS will issue K-1 forms to holders.

IWM Fund Structure

Open-Ended Fund

The organizational structure of the fund or ETN.

No

An indicator of whether a fund uses over-the-counter derivatives such as swaps or forwards to achieve its objectives.

Yes

An indicator of whether or not a fund actively lends its portfolio holdings.

70% / 30%

The division of securities lending revenue between the fund and the issuer.

N/A

The institution responsible for providing the return of the stated index and whose credit is the sole backing of the ETN.

N/A

The risk of default by the ETN counterparty.

Low

The likelihood that an issuer will shut down a fund for business or regulatory reasons.

Daily

The frequency of an issuer's disclosure of all fund holdings.

IWM ETF.com Tradability Insight

IWM trades exceptionally well. The fund earns nearly perfect marks in Tradability because it is about as liquid as ETFs get. It regularly trades billions of dollars a day, and spreads are consistently just 1 basis point. Block trading should pose little problem for larger investors in part because of the fund’s awesome on-screen liquidity. All in all, IWM trades exceptionally well for large and small orders alike. (Insight updated 05/16/2014)

Average Spread

Premium/Discount

Volume

IWM ETF.com/ Block LiquidityAs of 09/19/2014

5
4
3
2
1

This measurement shows how easy it is to trade 25,000 shares of IWM. IWM is rated a 5 out of 5.

IWM Tradability

34,353,067

It is the daily number of shares traded, averaged over the past 45 trading days.

$3.92 B

It is the daily dollar value of shares traded, averaged over the past 45 trading days.

32,667,219

Median number of shares traded over the past 45 trading days.

$3.67 B

Median dollar value of shares traded over the past 45 trading days.

0.01%

The difference between the highest price a market participant is willing to pay to buy an ETF and the lowest price at which a market participant is willing to sell an ETF, averaged over the past 45 days, as a percent.

$0.01

The difference between the highest and lowest posted prices for an ETF, averaged over the past 45 days, in dollars.

-0.01%

The middle value in the ranked set of all premium/discount values over a maximum 12-month period.

0.18% / -0.20%

The greatest amount that the market price exceeded (premium) and fell below (discount) its fair value/net asset value (NAV) over a maximum 12-month period.

None

This flags whether there is currently a systemic issue that has restricted the ability to create or redeem shares of the fund. This may be imposed by the fund's issuer, or by external circumstances.

100.00%

The percent of time that the underlying securities of an ETF are open to trading while US exchanges are open.

50,000

The smallest block of ETF shares that an Authorized Participant can either create or redeem at net asset value (NAV) with the issuer in exchange for the underlying shares of the fund.

653.34

The median 45 day share volume divided by the creation unit size of the fund. The higher the number, the more likely that liquidity providers will trade the fund in size, or in odd lots.

0.05%

The standard fee to create or redeem 1 creation unit of an ETF as a percentage of the dollar value of 1 creation unit.

0.07%

This metric serves as a way of understanding the impact of executing 1 creation unit worth of an ETF in terms of the volume of its underlying components.

5,800,426

The total number of net outstanding options contracts for an ETF.

$115.31

The total market value of the assets that an ETF holds less fund expenses.

5

An estimate of liquidity for the underlying baskets of securities, scaled 1 to 5.

IWM ETF.com Fit Insight

While IWM does not align perfectly with our benchmark, it does an excellent job capturing the US small-cap space. IWM tracks the marquee index for small-caps, the Russell 2000, and consequently holds an extremely broad basket of stocks that includes just about everything reasonably liquid below the midcap line. Perhaps the only concern is tilting toward micro-caps where the waters get choppier, explaining the high beta to our midcap-leaning benchmark. Still, IWM unquestionably provides great exposure to the space. (Insight updated 05/16/2014)

IWM Sector/Industry BreakdownView All

IWM Segment Benchmark
22.62% 23.70%
15.93% 15.53%
13.65% 14.86%
15.17% 13.36%
11.28% 12.92%
6.22% 5.95%
6.54% 5.28%
3.56% 3.13%

IWM Geographic ExposureView All

IWM Segment Benchmark
99.18% 99.03%
0.01% 0.25%
0.09% 0.21%
0.05% 0.11%
0.48% 0.07%
-- 0.07%
-- 0.06%
-- 0.06%
-- 0.05%
0.19% 0.07%

IWM Segment Benchmark
99.19% 99.28%
0.62% 0.58%
0.12% 0.06%
0.07% 0.05%
-- 0.01%
99.86% / 0.14% 99.91% / 0.07%

IWM Performance Statistics

0.98

The degree to which the fund and its segment benchmark move up and down in unison.

1.11

The sensitivity of the returns of the fund to the movement of the ETF.com segment benchmark. Beta of 1.0 means magnitude of fund returns equals that of IU benchmark returns.

-4.97%

The excess return of fund relative to ETF.com segment benchmark on a risk adjusted basis. Only reported if statistically significant.

1.15

The comparison of a fund's return to our benchmark's for days when the benchmark is up. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

1.04

The comparison of a fund's return to our benchmark's for days when the benchmark is down. Ideally down beta is less than up beta while beta of 1.0 means they're equal.

0.18%

A measure of the variability between the fund's returns and the ETF.com segment benchmark returns on days when the fund underperforms the benchmark.

MSCI USA Small Cap

This is the index that we have chosen as the best-in-class gauge for each segment's broad market.

IWM Benchmark Comparison

IWM
1958 Holdings
Segment Benchmark
1854 Constituents
Shared Holdings
1441 (Count)
 
49.26% (Weight)
IWMSegment Benchmark
$3.48 B$1.82 B

The average market capitalization of the firms in the portfolio based on each firm’s weighting in the portfolio.

The breakdown of the portfolio’s holdings into each market capitalization bucket based on each firm’s weighting in the portfolio.

0%0%
58%21%
37%66%
4%13%
45.17104.40

Weighted average ratio of prices of a fund’s stocks to trailing earnings of underlying stocks.

2.442.25

Weighted average ratio of prices of a fund’s stocks to the book value of underlying equity.

1.27%1.19%

The weighted average of the current yield on the portfolio’s holdings.

18541958

The number of securities held in the fund as of ETF.com’s analysis date, based on issuer portfolios or the creation basket. If an ETF holds other ETFs, we count every constituent, looking through the ETF wrapper.

LowLow

The level of return contribution attributable to the average portfolio constituent.