IWM vs WHLR: Correlation
Measured on weekly returns over the past three years, iShares Russell 2000 ETF (IWM) and Wheeler Real Estate Investment Trust, Inc. (WHLR) carry a correlation of -0.12, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IWM and WHLR?
Across a 3-year window, the weekly returns of IWM and WHLR correlate at -0.12, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.05) runs above the 3-year figure (-0.12). Stretching to 5 years gives -0.07, with an annualized covariance of -1314.0 %².
Among the 320 assets we track against IWM, WHLR ranks #312 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IWM ahead by 128.4 points (+28.4% versus -100.0%). Risk is not evenly split, since WHLR carries 27.5 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 WHLR: side by side
| IWM (iShares Russell 2000 ETF) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +28.4% | -100.0% |
| 5-year return | +41.5% | -100.0% |
| Volatility (ann.) | 19.8% | 545.0% |
| Beta vs S&P 500 | 1.06 | -5.84 |
| Max drawdown (3Y) | -27.5% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.91% | 0.00% |
| Expense ratio | 0.19% | – |
| Assets under management | $80.1B | – |
| Sector / category | ETF · US Small & Mid Cap | US Listed |
On the fund side, IWM sits in the Small Blend category at iShares, with $80.1B under management, 1757 holdings, a 0.19% expense ratio, a 0.91% trailing dividend yield.
Year-by-year returns
| Year | IWM | WHLR |
|---|---|---|
| 2022 | -20.5% | -28.0% |
| 2023 | +16.8% | -98.4% |
| 2024 | +11.4% | -98.4% |
| 2025 | +12.7% | -100.0% |
| 2026 | +22.3% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IWM and WHLR good diversifiers for each other?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between IWM and WHLR?
As of 2026-08-27, the correlation of weekly returns between IWM and WHLR is -0.12 over 3 years, 0.05 over 1 year and -0.07 over 5 years.
Is WHLR a good diversifier for IWM?
Yes: at -0.12, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.12 mean?
On the −1 to +1 scale, -0.12 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/iwm-vs-whlr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/iwm-vs-whlr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IWM correlations · WHLR correlations
