Are AIRR and IWM in the same category?

AIRR is a thematic ETF and IWM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which returned more over the last year, AIRR or IWM?

In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and IWM +14.1%.

Which is cheaper, AIRR or IWM?

IWM is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do AIRR and IWM overlap with the S&P 500?

By their latest filed holdings, 15% of AIRR and 0% of IWM by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

AIRR vs IWM: Differences, Returns & Fees

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Over the year to Oct 28, 2026, AIRR returned −0.2% to IWM's +14.1%, and IWM charges 0.19% to AIRR's 0.69%.

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Net assets on Oct 27, 2026: $8.4bn for First Trust RBA American Industrial Renaissance ETF and $75.5bn for iShares Russell 2000 ETF.

AIRR on its own →IWM on its own →

At a glance

−0.2%

AIRR total return, 1 year

+14.1%

IWM total return, 1 year

0.69%

AIRR expense ratio

0.19%

IWM expense ratio

Pair scorecard

IWM costs 0.50 points a year less; their one-year returns differ by 14.3 points; IWM is 9.0 times larger.

AIRR vs IWM: Differences, Returns & Fees
Measure	AIRR	IWM
Return
Measure	AIRR	IWM
Total return, 1 year	−0.2%	+14.1%
Drawdown
Measure	AIRR	IWM
Below its all-time high	25.5%, high on Jun 22, 2026
Below its high		7.6%, high on Aug 14, 2026
Against its benchmark
Measure	AIRR	IWM
What it tracks	Reshoring and manufacturing	Russell 2000 Index
Against the S&P 500, 1 year	behind by 13.9 pts
Against its benchmark, 1 year	behind by 13.9 pts
Cost and size
Measure	AIRR	IWM
Expense ratio	0.69%	0.19%
Net assets, as of Oct 27, 2026	$8.4bn	$75.5bn
Active share vs the S&P 500	100%
Holdings
Measure	AIRR	IWM
Holdings in common	3%
Top ten holdings, share of the fund	33%	3.3%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

By the books each fund has filed, AIRR and IWM hold 3% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

3% in common

Positions both hold · largest shared weight first AIRR IWM

Old National Bancorp 2.44% 0.29%

Zurn Elkay Water Solutions Corp. 0.94% 0.25%

Federal Signal Corporation 1.09% 0.24%

Herc Holdings, Inc. 3.30% 0.18%

Associated Banc-Corp 1.51% 0.17%

Xometry, Inc. (Class A) 1.58% 0.17%

Argan, Inc. 2.97% 0.16%

CSW Industrials, Inc. 0.87% 0.16%

Granite Construction Incorporated 1.41% 0.16%

Fulton Financial Corporation 0.94% 0.15%

Mercury Systems, Inc. 1.30% 0.15%

Construction Partners, Inc. (Class A) 1.17% 0.14%

Only in one fund ↓

Only in AIRR

C.H. Robinson Worldwide, Inc. 3.83%

Karman Holdings Inc. 3.51%

Kratos Defense & Security Solutions, Inc. 3.47%

BWX Technologies, Inc. 3.33%

Owens Corning 3.20%

RBC Bearings Incorporated 3.19%

Dycom Industries, Inc. 3.13%

Huntington Ingalls Industries, Inc. 3.13%

Only in IWM

JFROG 0.37%

GLAUKOS 0.35%

TWIST BIOSCIENCE 0.35%

MOOG INC CLASS A 0.34%

BRIGHTSPRING HEALTH SERVICES INC 0.33%

UMB FINANCIAL 0.33%

SM ENERGY 0.32%

10X GENOMICS CLASS A 0.31%

Check overlap with more funds →

Side by side

AIRR First Trust RBA American Industrial Renaissance ETF IWM iShares Russell 2000 ETF

Where it sits Thematic ETF Stock ETF

Issuer First Trust iShares

What it is Reshoring and manufacturing Tracks the Russell 2000

Total return, 1 year −0.2% +14.1%

Its benchmark over the same days +13.7% (VOO) +14.3% (VTWO)

Gap to its benchmark −13.9 pts vs VOO −0.2 pts vs VTWO

Expense ratio 0.69% 0.19%

Already in the S&P 500 14.7% 0.0%

Holdings 55 1977

Net assets, as of Oct 27, 2026 $8.4bn $75.5bn

AIRR and IWM on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Alert

About each fund

AIRR

By weight, 15% of AIRR's portfolio is stocks that are also in the S&P 500, from its filing for Jun 30, 2026; its active share against the S&P 500 is 100%.

The top ten holdings are 33% of the fund across 55 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −0.2% with distributions reinvested against +13.7% for its benchmark, the S&P 500 Index, so a holder was behind by 13.9 pts. It sits 25.5% below its all-time high of Jun 22, 2026.

IWM

IWM tracks the Russell 2000. Over the year to Oct 28, 2026 it returned +14.1% with distributions reinvested, against +14.3% for its benchmark, the Russell 2000 Index. The prospectus expense ratio is 0.19% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,977 positions, with the top ten at 3.3%. It sat 7.6% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Are AIRR and IWM in the same category?: AIRR is a thematic ETF and IWM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, AIRR or IWM?: In the year to Oct 28, 2026, with distributions reinvested, AIRR returned −0.2% and IWM +14.1%.
Which is cheaper, AIRR or IWM?: IWM is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do AIRR and IWM overlap with the S&P 500?: By their latest filed holdings, 15% of AIRR and 0% of IWM by weight is stocks the S&P 500 already holds.

Other comparisons

AIRR vs IJR AIRR vs VB AIRR vs AVUV AIRR vs COWZ IWM vs XBI IBB vs IWM GDX vs IWM IWM vs REMX

Where to next

AIRR on its own →IWM on its own →Hold both: look the portfolio through →Rankings →AIRR dividend history →AIRR holdings →IWM dividend history →IWM holdings →Standards and sources →

Sources and dates

AIRR filings on SEC EDGAR ↗

AIRR prospectus with the expense ratio (SEC) ↗

First Trust page for AIRR ↗

IWM filings on SEC EDGAR ↗

IWM prospectus with the expense ratio (SEC) ↗

iShares page for IWM ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, AIRR against IWM, data as of Oct 28, 2026. https://etfiq.com/compare/any/airr-vs-iwm

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.