IWM vs VWO — 20-Year Performance Comparison
US Small-Cap vs Emerging Markets — backtested 2005–2024
IWM wins$44,676 vs $29,877 on $10,000 over 20 years
IWMUS Small-Cap
Final value$44,676
CAGR+7.8%
Max drawdown-35.3%
Best year+39% (2013)
Years won13 of 20
VWOEmerging Markets
Final value$29,877
CAGR+5.6%
Max drawdown-52.5%
Best year+76% (2009)
Years won7 of 20
Growth of $10,000
2005–2024IWMVWO
IWM$44,676
VWO$29,877
50/50 mix$39,354
50/50 blend: $39,354 (+7.1%/yr CAGR)
Splitting equally between IWM and VWO would have landed between the two — slightly lower CAGR than IWM but less volatility. Try a custom split →
Year-by-year: IWM vs VWO
| Year | IWM | VWO | Winner |
|---|---|---|---|
| 2024 | +11.4% | +10.6% | IWM |
| 2023 | +16.8% | +9.3% | IWM |
| 2022 | -20.5% | -18.0% | VWO |
| 2021 | +14.5% | +1.3% | IWM |
| 2020 | +20.0% | +15.2% | IWM |
| 2019 | +25.4% | +20.8% | IWM |
| 2018 | -11.1% | -14.8% | IWM |
| 2017 | +14.6% | +31.5% | VWO |
| 2016 | +21.6% | +12.2% | IWM |
| 2015 | -4.5% | -15.8% | IWM |
| 2014 | +5.0% | -0.0% | IWM |
| 2013 | +38.7% | -4.9% | IWM |
| 2012 | +16.7% | +19.2% | VWO |
| 2011 | -4.4% | -18.7% | IWM |
| 2010 | +26.9% | +19.5% | IWM |
| 2009 | +28.5% | +76.3% | VWO |
| 2008 | -34.2% | -52.5% | IWM |
| 2007 | -1.8% | +37.3% | VWO |
| 2006 | +18.3% | +29.4% | VWO |
| 2005 | +4.5% | +23.5% | VWO |
More comparisons
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