IWM vs VVX: Correlation
iShares Russell 2000 ETF (IWM) and V2X, Inc. (VVX) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and VVX?
Over the past 3 years, IWM and VVX moved with a correlation of 0.46, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.28 versus 0.46 over 3 years. Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 403.0 %².
Among the 320 assets we track against IWM, VVX ranks #274 by 3-year correlation. The trailing year gives VVX the advantage: +28.4% versus +34.3%, a 5.9-point spread. Risk is not evenly split, since VVX carries 2.2 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 VVX: side by side
| IWM (iShares Russell 2000 ETF) | VVX (V2X, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | +34.3% |
| 5-year return | +41.5% | +58.1% |
| Volatility (ann.) | 19.8% | 43.9% |
| Beta vs S&P 500 | 1.06 | 0.98 |
| Max drawdown (3Y) | -27.5% | -38.9% |
| Market cap | – | $2.5B |
| P/E (trailing) | – | 26.9 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
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 | VVX |
|---|---|---|
| 2022 | -20.5% | -9.8% |
| 2023 | +16.8% | +12.5% |
| 2024 | +11.4% | +3.0% |
| 2025 | +12.7% | +14.0% |
| 2026 | +22.3% | +43.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Fund exposure
A structural note: 0.07% of IWM is VVX itself, so the fund partly moves with the stock by construction.
Are IWM and VVX good diversifiers for each other?
Reasonably. At 0.46, IWM and VVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IWM and VVX?
The IWM/VVX correlation stands at 0.46 on a 3-year window (1 year: 0.28, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is VVX a good diversifier for IWM?
Reasonably. At 0.46, IWM and VVX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: IWM correlations · VVX correlations
