iShares Russell 2000 BuyWrite ETF (IWMW) Performance
IWMW total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.3% since Dec 31, 2025
- 1 year
- +9.2% total return
- Since first price
- +26.1% since 2024
IWMW trailing returns vs SPY, QQQ, AGG
| Period | IWMW total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −1.3% | −2.8% | −1.0% | −5.0% | +0.9% |
| 3 months | −2.5% | −5.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.9% | −3.0% | +7.8% | +8.4% | −1.5% |
| YTD | +10.3% | −4.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.2% | −9.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionMar 15, 2024 | +26.1% | −24.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: IWMW vs SPY
From Mar 15, 2024: IWMW grew to $12,613, SPY to $15,346.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
IWMW returns by calendar year
1 of 1 full years positive. Best 2025 (+7.8%), worst 2025 (+7.8%). 2026 is year to date.
IWMW annual returns table
| Year | IWMW | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.3% | −7.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.8% | −21.4% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
IWMW largest drawdowns
Now 6.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 4, 2024 | −21.8% | Apr 8, 2025 | Sep 18, 2025 | 4 months | 9 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
IWMW risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +8.7% |
| Volatility (annualized) | 12.6% |
| Sharpe ratio | 0.39 |
| Sortino ratio | 0.60 |
| Best month | +9.3% |
| Worst month | −5.8% |
| Best 12 months | +26.0% |
| Worst 12 months | −2.7% |
| Positive months | 67% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
IWMW rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 20 | −2.7% | +9.4% | +26.0% | 85% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
IWMW performance overview
iShares Russell 2000 BuyWrite ETF (IWMW) returned +9.2% over the past year, with distributions reinvested. Since its first recorded price on Mar 15, 2024 it has returned +26.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −21.8%, from Dec 4, 2024 to Apr 8, 2025, and it took 5 months to get back to the old high. Volatility has been 12.6% a year.
Related: IWMW chart, IWMW holdings, IWMW dividends. See the IWMW overview for the latest quote and fund facts.
IWMW performance FAQ
What is the IWMW return over the past year?
IWMW returned +9.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 9.9%.
How much would $10,000 invested in IWMW be worth?
$10,000 invested in IWMW at its first recorded close on March 15, 2024 would be worth about $12,613 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of IWMW?
The largest peak-to-trough decline was −21.8% between December 4, 2024 and April 8, 2025. It recovered to the old high on September 18, 2025, 5 months after the bottom.
How volatile is IWMW?
Over the past history IWMW had an annualized volatility of 12.6% and a Sharpe ratio of 0.39 (excess return over 1–3 month T-bills per unit of risk).