What is IWC?

IWC tracks a market-cap-weighted index of U.S. micro-cap stocks. The index selects the smallest 1000 stocks in the Russell 2000 Index.

PERFORMANCE [as of 03/20/23] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
IWC -13.63% -2.82% -5.09% -20.91% 21.34% 1.69% 6.93%
IWC (NAV) -13.55% -3.06% -5.04% -21.02% 21.09% 1.68% 6.94%
Russell Microcap -13.54% -3.10% -5.09% -20.97% 21.32% 1.85% 7.05%
MSCI USA Micro Cap Index -15.08% -1.78% -4.82% -23.30% 23.93% 2.74% 7.17%
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

IWC Factset Analytics Insight

IWC takes a plain vanilla, market-cap-weighted view of the micro-cap segment. The underlying index selects 1000 of the smallest from the Russell 2000 Index. From our perspective, however, it skews large, putting a lot of weight in companies we consider small-caps. Its beta indicates that the fund is relatively volatile compared with the broad US micro-cap market. Still, it provides decent coverage of the space overall. Holdings costs are likely to be lower than the stated expense ratio, thanks to smart portfolio management that tends to recover a sizeable chunk. A solid choice for this hard to reach area of the market.

IWC Summary Data

Blackrock
08/12/05
0.60%
$878.56M
Russell Microcap
MSCI USA Micro Cap Index
Open-Ended Fund

Peers

MSCI USA Micro Cap Index

Fund Flows

$0.00B 5 Days
+$0.04B 30 Days
+$0.06B 90 Days

IWC Portfolio Data

$809.09M
-23.11
1.73
1.24%
03/23/23
1,740

IWC Index Data

Russell Microcap
Market Cap
Market Cap
MSCI USA Micro Cap Index

IWC Portfolio Management

0.60%
-0.17%
-0.03%
-0.44%

IWC Tax Exposures

20.00% / 39.60%
--
Qualified dividends
No

IWC Fund Structure

Open-Ended Fund
No
Yes
-- / --
N/A
N/A
Low
Daily

Factset Analytics Block Liquidity

As of 03/21/23

This measurement shows how easy it is to trade a $1 million USD block of IWC. IWC is rated a 5 out of 5.

IWC Tradability

39,117
$4.54M
25,558
$2.84M
0.30%
$0.35
-0.01%
0.28% / -0.29%
None
99.72%
50,000
0.51
0.04%
0.30%
314
$102.25
5

IWC Sector/Industry Breakdown

IWC Segment
Benchmark
25.57% --
22.77% --
6.99% --
6.42% --
5.42% --
4.61% --
3.81% --
3.15% --
2.85% --
2.84% --

IWC Performance Statistics

0.96
1.11
1.16
1.10
0.37%
MSCI USA Micro Cap Index

IWC Countries

IWC Segment
Benchmark
99.26% 100.00%
0.47% --
0.26% --

IWC Regions

IWC Segment
Benchmark
99.73% 100.00%
0.26% --

IWC Economic Development

IWC Segment
Benchmark
99.99% 100.00%
0.00% 0.00%

IWC Benchmark Comparison Holdings

1,740
1160
983
27.05%

IWC Benchmark Comparison Summary

IWC Segment
Benchmark
1,740 1160
$809.09M $298.84M
-23.11 -7.14
1.73 1.36
1.09% 1.16%
Low Low

IWC Benchmark Comparison Market Cap Size

IWC Segment
Benchmark
0.00% 0.00%
2.29% 0.16%
51.61% 3.88%
45.84% 95.96%

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