At a glance
IWM charges 0.19% a year, the same as the average of the 8 funds most like it (the 7th cheapest of 9). It has $82.97B in assets, the 2nd largest of that group; it paid 0.98% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +14.5% with distributions reinvested (S&P 500: +11.5%), 6th of those 9 funds; over three years it returned +19.3% a year. At its worst it fell 40.8% in the 2020 crash (S&P 500: 33.7%) and 26.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 25 months after the lows. Its ten largest positions make up 3.4% of the fund, out of 2,014 in all.
The short version
iShares Russell 2000 ETF (IWM) is a BlackRock index fund that tracks the Russell 2000. That index holds the roughly 1,933 smallest companies in the Russell 3000 Index, so the fund gives owners a broad slice of U.S. small-company stocks in one fund. With about $83.0 billion in net assets as of June 30, 2026, it is far larger than Vanguard's VTWO, which follows the same index. The trade-off is cost: IWM charges 0.19% a year, against 0.07% for VTWO.
Price history
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IWM +14.5% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IWM official prospectus, to Dec 31, 2025 | — | +12.69% | — | +5.96% | +9.54% | — |
| Russell 3000 Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| IWM price data to Nov 2, 2026 | +14.2% | +14.5% | +19.3% | +4.8% | +10.6% | +8.5% |
- Over the year to Nov 2, 2026, IWM returned +14.5%, 6th of 9 among similar funds.
- Its 5-year annualized return was +4.8% and its 10-year +10.6%.
- In the 2020 COVID crash it fell 40.8% and regained its old high 7.6 months after the low.
- Its worst full calendar year was 2008 (-34.1%); its best was 2013 (+38.7%).
- The deepest fall in its price history was 59% (Jul 9, 2007 to Mar 9, 2009), recovered by Feb 11, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +14.2% | — |
| 2025 | +12.7% | +12.69% |
| 2024 | +11.4% | +11.35% |
| 2023 | +16.8% | +16.80% |
| 2022 | -20.5% | -20.48% |
| 2021 | +14.5% | +14.62% |
| 2020 | +20.0% | +19.89% |
| 2019 | +25.4% | +25.42% |
| 2018 | -11.1% | -11.02% |
| 2017 | +14.6% | +14.66% |
| 2016 | +21.6% | +21.36% |
| 2015 | -4.5% | — |
| 2014 | +5.0% | — |
| 2013 | +38.7% | — |
| 2012 | +16.7% | — |
| 2011 | -4.4% | — |
| 2010 | +26.9% | — |
| 2009 | +28.5% | — |
| 2008 | -34.1% | — |
| 2007 | -1.8% | — |
| 2006 | +18.3% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 58.4% over that stretch · deepest drop along the way 58.4%, back to its old high 22.2 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.7% over that stretch · deepest drop along the way 40.8%, back to its old high 7.6 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 25% over that stretch · deepest drop along the way 26.9%, back to its old high 25 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.8900 | |
| 2025 | $2.5600 | +1.6% |
| 2024 | $2.5200 | -6.7% |
| 2023 | $2.7000 | +4.7% |
| 2022 | $2.5800 | +22.9% |
| 2021 | $2.1000 | +2.4% |
| 2020 | $2.0500 | -1.4% |
| 2019 | $2.0800 | +10.6% |
| 2018 | $1.8800 | -2.6% |
| 2017 | $1.9300 | +4.3% |
| 2016 | $1.8500 | +6.9% |
| 2015 | $1.7300 | +14.6% |
| 2014 | $1.5100 | +7.1% |
| 2013 | $1.4100 | -16.6% |
| 2012 | $1.6900 | +64.1% |
| 2011 | $1.0300 | +14.4% |
| 2010 | $0.9000 | +25.0% |
| 2009 | $0.7200 | -18.2% |
| 2008 | $0.8800 | +13.1% |
| 2007 | $0.7780 | -6.7% |
| 2006 | $0.8340 |
What's inside
As of Jun 30, 2026, the fund held 2,014 securities; the ten largest made up 3.42% of assets. It also reported 17.02% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.
| Holding | Weight | |
|---|---|---|
| Moog, Inc. | 0.38% | |
| Hut 8 Corp. | 0.37% | |
| Viasat, Inc. | 0.35% | |
| BrightSpring Health Services, Inc. | 0.35% | |
| Cytokinetics, Inc. | 0.35% | |
| MaxLinear, Inc. | 0.34% | |
| Argan, Inc. | 0.34% | |
| UMB Financial Corp. | 0.33% | |
| JFrog Ltd. | 0.31% | |
| Riot Platforms, Inc. | 0.30% | |
| Krystal Biotech, Inc. | 0.30% | |
| ESCO Technologies, Inc. | 0.29% | |
| CareTrust REIT, Inc. | 0.28% | |
| Old National Bancorp | 0.28% | |
| FirstCash Holdings, Inc. | 0.28% |
By country
United States 92.48%Canada 1.63%Bermuda 1.34%Cayman Islands 0.85%United Kingdom 0.58%By asset type
Stocks 99.79%Preferred stock 0%Other 0%What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $3.47B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +12.20%, +4.37%, +3.71%.
How it works
IWM tracks the Russell 2000 Index from FTSE Russell, part of the London Stock Exchange Group. The index starts with the Russell 3000, which measures the broad U.S. stock market, and keeps its roughly 1,933 smallest companies. As of March 31, 2026, those companies made up about 5% of the Russell 3000's value. Each stock is weighted by market value. Only shares available for public trading count, which is called "float-adjusted" weighting. Bigger companies count for more. Russell, not BlackRock, picks the stocks and their weights, and both change over time.
BlackRock uses "representative sampling." The fund holds a mix of stocks chosen to match the index's size, industry weights, yield and volatility, and it may not own every stock in the index. Normally, at least 80% of net assets is in index stocks. The fund may also use derivatives (contracts whose value follows an asset or index), such as Russell 2000 futures. As of June 30, 2026, it had 2,014 holdings. Turnover, the share of the portfolio traded in a year, was 18%.
The fund may lend out securities worth up to one-third of its total assets in exchange for collateral. That likely explains why holdings reports as of June 30, 2026, showed cash-like positions of about 17% even though stocks made up about 99.8%. The collateral must be handed back to borrowers, so it is not spare cash. The fund uses no leverage or options.
What it really costs
- IWM charges 0.19% a year, versus an average of 0.19% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $19 in the first year and $243 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IWM | $19 | $61 | $107 | $243 |
In a retirement portfolio
Its small companies add something a large-company core lacks, but its 59% peak-to-trough drop and bigger swings than the broad market suit a smaller slice of a portfolio.
IWM tracks the Russell 2000 Index of small U.S. companies, adding exposure large-company funds lack, but it swings harder than the broad market. It fell 58.4% in the 2008 financial crisis, 40.8% in the 2020 COVID crash and 26.9% in 2022. Its worst calendar year was 2008, down 34.1%. After its deepest drop, 59%, it took 23 months from the March 2009 low to regain its peak; after 2022, it took 25 months, until July 2024. Anyone who must sell shares in such a slump could lock in losses.
Income is small: a 0.97% yield over the 12 months to October 27, 2026, paid quarterly. Its expense ratio (annual fee) is 0.19%, or $19 in the first year on $10,000 in the SEC's standard example; Vanguard Russell 2000 ETF (VTWO) charges 0.07%. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting broad U.S. small-company exposure: 2,014 holdings as of June 30, 2026, with the 10 largest totaling just 3.42%.
- Investors adding small companies to a broad-market core holding. As of March 31, 2026, the Russell 2000 was only about 5% of the Russell 3000.
- Long-term holders who can sit through deep falls, such as the 59% drop from 2007 to 2009 and the roughly 41% plunge in early 2020.
Look elsewhere if
- Cost-focused investors: IWM's 0.19% expense ratio (annual fee) ranks 7th cheapest of 9 similar funds. Vanguard's VTWO charges 0.07% and SPSM charges 0.03%.
- Retirees needing income: IWM's yield over the 12 months to October 30, 2026, was 0.98%, paid quarterly.
- Anyone expecting small companies to lead: IWM averaged 9.54% a year in the decade to December 31, 2025, against 14.29% for the Russell 3000.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IWM this fund | — | 0.19% | $82.97B | +14.5% | +19.3% |
| RSSL Global X Russell 2000 ETF | 67% | 0.08% | $1.49B | +13.2% | — |
| VTWO Vanguard Russell 2000 ETF | 65% | 0.07% | $17.95B | +15.4% | +21.2% |
| BKSE BNY Mellon US Small Cap Core Equity ETF | 51% | 0.04% | $87.3M | +14.9% | +21.3% |
| IWO iShares Russell 2000 Growth ETF | 44% | 0.24% | $15.43B | +6.0% | +18.8% |
| RFLR Innovator U.S. Small Cap Managed Floor ETF | 41% | 0.89% | $92.0M | +11.9% | — |
| SPSM SPDR Portfolio S&P 600 Small Cap ETF | 40% | 0.03% | $16.92B | +21.7% | +17.4% |
| VIOO Vanguard S&P Small-Cap 600 ETF | 40% | 0.07% | $6.45B | +16.7% | +18.6% |
Questions investors ask
What stocks are in IWM?
As of June 30, 2026, IWM's largest holdings were Moog (0.38% of the fund), Hut 8 (0.37%), Viasat (0.35%), BrightSpring Health Services (0.35%) and Cytokinetics (0.35%). No single company matters much: the 10 largest of its 2,014 holdings added up to just 3.42%. About 92% of the portfolio was in U.S. companies, with small stakes in companies based in Canada and Bermuda. As of March 31, 2026, financials, healthcare and industrials made up a large share of its index.
What's the difference between IWM and VTWO?
The main difference is cost. Both follow the Russell 2000, but IWM's expense ratio (its annual fee) is 0.19%, against 0.07% for Vanguard Russell 2000 ETF (VTWO). The SEC's standard example assumes $10,000 invested and a 5% yearly return. On that basis, IWM's costs total $243 over 10 years. One-year returns were close: 15.2% for IWM and 15.4% for VTWO as of October 30, 2026. IWM is far larger, with about $83.0 billion in net assets as of June 30, 2026. VTWO had about $17.9 billion as of August 31, 2026.
Does IWM pay dividends?
Yes. IWM pays dividends quarterly, but the income is small. Its yield over the 12 months to October 30, 2026, was 0.98%, with payouts totaling $2.73 per share. The yield is low partly because many smaller companies reinvest their profits instead of paying them out, and some are not profitable at all. For investors focused on income, most of IWM's return depends on changes in its share price, not on its payouts.
Has IWM beaten the overall stock market?
No, not over the periods shown in its prospectus. Over one, five and 10 years to December 31, 2025, IWM averaged 12.69%, 5.96% and 9.54% a year. Over the same periods, the broad Russell 3000 Index, which includes large companies, averaged 17.15%, 13.15% and 14.29%. IWM has had strong years, such as a 25.42% gain in 2019. It has also had deep losses, including a 20.48% drop in 2022.
Is IWM good for retirement?
IWM can play a supporting role, but its price swings a lot and it pays little income. It may suit retirees who want a slice of small U.S. companies in a diversified portfolio and can sit through deep falls. It dropped 59% from its 2007 peak to its March 2009 low, then took about 23 months to recover. It also fell about 41% in the 2020 COVID crash. Its yield was 0.98% over the 12 months to October 30, 2026.