IWM vs VTRS: Correlation
iShares Russell 2000 ETF (IWM) and Viatris (VTRS) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and VTRS?
Over the past 3 years, IWM and VTRS moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 314.8 %².
By 3-year correlation, VTRS places #261 of the 320 assets tracked against IWM. Correlation aside, the last 12 months split them widely, with VTRS ahead by 39.4 points (+28.4% versus +67.8%). On a rolling one-year basis the correlation drifted between 0.28 and 0.65, a moderate band. Risk is not evenly split, since VTRS carries 1.7 times the volatility of the other side.
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 VTRS: side by side
| IWM (iShares Russell 2000 ETF) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | +28.4% | +67.8% |
| 5-year return | +41.5% | +44.6% |
| Volatility (ann.) | 19.8% | 32.8% |
| Beta vs S&P 500 | 1.06 | 0.79 |
| Max drawdown (3Y) | -27.5% | -45.0% |
| Market cap | – | $19.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.91% | 2.85% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | Health Care |
IWM, iShares's Small Blend fund, carries $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | VTRS |
|---|---|---|
| 2022 | -20.5% | -14.3% |
| 2023 | +16.8% | +2.1% |
| 2024 | +11.4% | +19.7% |
| 2025 | +12.7% | +5.1% |
| 2026 | +22.3% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and VTRS good diversifiers for each other?
Reasonably. At 0.48, IWM and VTRS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and VTRS?
The IWM/VTRS correlation stands at 0.48 on a 3-year window (1 year: 0.39, 5 years: 0.47), computed from weekly returns as of 2026-08-27.
Is VTRS a good diversifier for IWM?
Reasonably. At 0.48, IWM and VTRS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-vtrs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-vtrs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · VTRS correlations
