IWM vs SPY — 25-Year Performance Comparison
US Small-Cap vs S&P 500 — backtested 2000–2024
IWM wins$66,766 vs $62,946 on $10,000 over 25 years
IWMUS Small-Cap
Final value$66,766
CAGR+7.9%
Max drawdown-35.3%
Best year+48% (2003)
Years won13 of 25
SPYS&P 500
Final value$62,946
CAGR+7.6%
Max drawdown-37.6%
Best year+32% (2013)
Years won12 of 25
Growth of $10,000
2000–2024IWMSPY
IWM$66,766
SPY$62,946
50/50 mix$66,055
50/50 blend: $66,055 (+7.8%/yr CAGR)
Splitting equally between IWM and SPY would have landed between the two — slightly lower CAGR than IWM but less volatility. Try a custom split →
Year-by-year: IWM vs SPY
| Year | IWM | SPY | Winner |
|---|---|---|---|
| 2024 | +11.4% | +23.3% | SPY |
| 2023 | +16.8% | +26.3% | SPY |
| 2022 | -20.5% | -18.2% | SPY |
| 2021 | +14.5% | +28.7% | SPY |
| 2020 | +20.0% | +18.4% | IWM |
| 2019 | +25.4% | +31.5% | SPY |
| 2018 | -11.1% | -4.4% | SPY |
| 2017 | +14.6% | +21.8% | SPY |
| 2016 | +21.6% | +12.0% | IWM |
| 2015 | -4.5% | +1.4% | SPY |
| 2014 | +5.0% | +13.7% | SPY |
| 2013 | +38.7% | +32.4% | IWM |
| 2012 | +16.7% | +16.0% | IWM |
| 2011 | -4.4% | +2.1% | SPY |
| 2010 | +26.9% | +15.1% | IWM |
| 2009 | +28.5% | +26.5% | IWM |
| 2008 | -34.2% | -37.0% | IWM |
| 2007 | -1.8% | +5.5% | SPY |
| 2006 | +18.3% | +15.8% | IWM |
| 2005 | +4.5% | +4.9% | SPY |
| 2004 | +18.1% | +10.9% | IWM |
| 2003 | +47.9% | +28.7% | IWM |
| 2002 | -20.4% | -22.1% | IWM |
| 2001 | +1.8% | -11.9% | IWM |
| 2000 | +5.6% | -9.1% | IWM |
More comparisons
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