IWM vs JETS: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and US Global Jets ETF (JETS) carry a correlation of 0.68, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and JETS?
Across a 3-year window, the weekly returns of IWM and JETS correlate at 0.68, strong. The relationship has been stable: the 1-year correlation (0.74) sits close to the 3-year figure. Stretching to 5 years gives 0.72, with an annualized covariance of 395.8 %².
By 3-year correlation, JETS places #53 of the 320 assets tracked against IWM. Their recent paths diverged sharply: over the last 12 months IWM outperformed by 15.2 percentage points (+28.4% for IWM against +13.2% for JETS). On a rolling one-year basis the correlation drifted between 0.45 and 0.83, a moderate band.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
IWM vs JETS: side by side
| IWM (iShares Russell 2000 ETF) | JETS (US Global Jets ETF) | |
|---|---|---|
| 1-year return | +28.4% | +13.2% |
| 5-year return | +41.5% | +30.9% |
| Volatility (ann.) | 19.8% | 29.2% |
| Beta vs S&P 500 | 1.06 | 1.16 |
| Max drawdown (3Y) | -27.5% | -35.2% |
| Dividend yield | 0.91% | – |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | ETF · Thematic |
IWM is a Small Blend fund from iShares: $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | JETS |
|---|---|---|
| 2022 | -20.5% | -19.0% |
| 2023 | +16.8% | +11.4% |
| 2024 | +11.4% | +33.2% |
| 2025 | +12.7% | +11.6% |
| 2026 | +22.3% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and JETS good diversifiers for each other?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between IWM and JETS?
As of 2026-08-27, the correlation of weekly returns between IWM and JETS is 0.68 over 3 years, 0.74 over 1 year and 0.72 over 5 years.
Is JETS a good diversifier for IWM?
Somewhat, no more. With 0.68 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.68 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-jets.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iwm-vs-jets/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: IWM correlations · JETS correlations
