Which returned more over the last year, ESML or IWC?

In the year to Oct 28, 2026, with distributions reinvested, ESML returned +17.7% and IWC +16.5%.

Which is cheaper, ESML or IWC?

ESML is cheaper, by 0.43 percentage points a year. That is about $43 on $10,000 held for a year. Fees come from each fund's prospectus.

How much do ESML and IWC overlap with the S&P 500?

By their latest filed holdings, 12% of ESML and 92% of IWC by weight is stocks the S&P 500 already holds.

Data as of Oct 28, 2026.

Across categories

ESML vs IWC: Differences, Returns & Fees

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Over the year to Oct 28, 2026, ESML returned +17.7% to IWC's +16.5%; 2% of their weight is in the same names.

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Net assets on Oct 27, 2026: $2.7bn for iShares ESG Aware MSCI USA Small-Cap ETF and $1.2bn for iShares Micro-Cap ETF.

ESML on its own →IWC on its own →

At a glance

+17.7%

ESML total return, 1 year

+16.5%

IWC total return, 1 year

0.17%

ESML expense ratio

0.60%

IWC expense ratio

Pair scorecard

ESML costs 0.43 points a year less; their one-year returns differ by 1.2 points; ESML is 2.3 times larger.

ESML vs IWC: Differences, Returns & Fees
Measure	ESML	IWC
Return
Measure	ESML	IWC
Total return, 1 year	+17.7%	+16.5%
Drawdown
Measure	ESML	IWC
Below its high	5.3%, high on Aug 14, 2026	9.5%, high on Aug 14, 2026
Benchmark
Measure	ESML	IWC
What it tracks	MSCI USA Small Cap Extended ESG Focus Index	Russell Microcap Index
Cost and size
Measure	ESML	IWC
Expense ratio	0.17%	0.60%
Net assets, as of Oct 27, 2026	$2.7bn	$1.2bn
Holdings
Measure	ESML	IWC
Holdings in common	2%
Top ten holdings, share of the fund	5.2%	5.9%

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

Risk and return

Apr 20, 2018 to Oct 23, 2026 · 444 weekly returns

ESML IWC

Return

Total return edge ESML +126.6% +95.9%

Annualized edge ESML +10.1% +8.2%

Price return edge ESML +104.3% +78.1%

Risk

Volatility edge ESML 22.8% 25.7%

Max drawdown edge ESML −40.6% −45.2%

Downside capture 104.1% 111.7%

Beta 1.11 1.16

Risk-adjusted

Sharpe edge ESML 0.41 0.33

Sortino edge ESML 0.59 0.47

Treynor 0.085 0.070

Calmar edge ESML 0.25 0.18

Against the benchmark

Alpha −4.4% a year −3.6% a year

Alpha t-stat −1.14 −1.41

Information ratio −0.27 −0.16

Tracking error 11.3% 12.0%

Each against its own benchmark: ESML against PBUS, Apr 20, 2018 to Oct 23, 2026; IWC against IWV, Aug 26, 2005 to Oct 23, 2026.

Reading

ESML returned more: +126.6% to +95.9%. ESML swung less: 22.8% to 25.7%. ESML fell less at its worst: −40.6% to −45.2%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: ESML vs IWC: Differences, Returns & Fees
Measure	ESML	IWC	Edge	How it is measured
Return
Total return	+126.6%	+95.9%	ESML	Price change plus distributions, reinvested.
Annualized	+10.1%	+8.2%	ESML	Total return as a yearly rate.
Price return	+104.3%	+78.1%	ESML	Price change alone, distributions left out.
Risk
Volatility	22.8%	25.7%	ESML	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	16.0%	17.9%	ESML	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−40.6%	−45.2%	ESML	Deepest fall from a high to the low after it.
Upside capture	97.1%	118.0%		Share of its benchmark's rise caught in the weeks it rose.
Downside capture	104.1%	111.7%		Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.11	1.16	Not an edge	How far it moves for each 1% its benchmark moves.
R squared	0.76	0.76	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.41	0.33	ESML	Return above Treasury bills per unit of volatility.
Sortino	0.59	0.47	ESML	Return above Treasury bills per unit of downside deviation.
Treynor	0.085	0.070		Return above Treasury bills per unit of beta.
Calmar	0.25	0.18	ESML	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	PBUS	IWV		The ETF each fund is measured against.
Alpha	−4.4% a year	−3.6% a year	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.14	−1.41	Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−11.9% to +3.2%	−8.5% to +1.4%	Includes zero	The 95% range for the yearly alpha.
Information ratio	−0.27	−0.16		Return against its benchmark per unit of tracking error.
Tracking error	11.3%	12.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 444 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, ESML and IWC hold 2% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

50%

0 half 100%

half

2% in common

Positions both hold · largest shared weight first ESML IWC

CAMDEN NATIONAL CORP 0.18% 0.24%

CAREDX 0.18% 0.88%

CENTRAL PACIFIC FINANCIAL CORP 0.13% 0.19%

FRANKLIN BSP REALTY TRUST 0.11% 0.13%

FIRST BANCORP 0.32% 0.10%

MARINEMAX INC 0.10% 0.26%

AMALGAMATED FINANCIAL CORP 0.09% 0.23%

CASTLE BIOSCIENCES 0.09% 0.25%

INDEPENDENT BANK CORP 0.08% 0.18%

PENNANT GROUP 0.08% 0.35%

PURSUIT ATTRACTIONS AND HOSPITALIT 0.08% 0.27%

HORIZON BANCORP INC 0.07% 0.26%

Only in one fund ↓

Only in ESML

MODERNA 1.13%

ASSURANT INC 0.66%

US FOODS HOLDING 0.58%

OVINTIV 0.51%

ONE GAS 0.40%

REVVITY 0.39%

DYNATRACE INC 0.38%

GUARDANT HEALTH 0.38%

Only in IWC

NURIX THERAPEUTICS 0.63%

STRIVE INC CLASS A 0.50%

HYPERLIQUID STRATEGIES INC 0.46%

PORCH GROUP 0.44%

XERIS BIOPHARMA HOLDINGS 0.44%

DIME COMMERCIAL BANCSHARES 0.43%

LINDBLAD EXPEDITIONS HOLDINGS 0.43%

QCR HOLDINGS INC 0.41%

Check overlap with more funds →

Side by side

ESML iShares ESG Aware MSCI USA Small-Cap ETF IWC iShares Micro-Cap ETF

Where it sits Stock ETF Stock ETF

Issuer iShares iShares

What it is Tracks an index Tracks the Russell Microcap

Total return, 1 year +17.7% +16.5%

Its benchmark over the same days +13.3% (PBUS) +13.3% (IWV)

Gap to its benchmark +4.4 pts vs PBUS +3.2 pts vs IWV

Expense ratio 0.17% 0.60%

Already in the S&P 500 12.3% 91.7%

Holdings 903 1365

Net assets, as of Oct 27, 2026 $2.7bn $1.2bn

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

Client brief · page 1 of 2 Report BR-1948D3F6A5

ESML and IWC are built for the same job. How do they differ in cost, holdings and results?

What each follows. ESML follows MSCI USA Small Cap Extended ESG Focus Index and IWC follows Russell Microcap Index.
Holdings in common. 2% of the weight is in the same securities (holdings dated Oct 27, 2026).
Cost. ESML charges 0.17% of assets a year and IWC 0.60%, a gap of 0.43 points.

Data as of Oct 28, 2026.

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About each fund

ESML

ESML tracks an index. Over the year to Oct 28, 2026 it returned +17.7% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.17% a year. By its holdings published by its issuer for Oct 27, 2026, 12% of the fund by weight is stocks the S&P 500 also holds, across 903 positions, with the top ten at 5.2%. It sat 5.3% below its high of Aug 14, 2026 on Oct 28, 2026.

IWC

Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.

IWC tracks the Russell Microcap. The prospectus expense ratio is 0.60% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,365 positions, with the top ten at 5.9%. It sat 9.5% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, ESML or IWC?: In the year to Oct 28, 2026, with distributions reinvested, ESML returned +17.7% and IWC +16.5%.
Which is cheaper, ESML or IWC?: ESML is cheaper, by 0.43 percentage points a year. That is about $43 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do ESML and IWC overlap with the S&P 500?: By their latest filed holdings, 12% of ESML and 92% of IWC by weight is stocks the S&P 500 already holds.

Other comparisons

ESML vs GSSC ESML vs XSMO ESML vs VIOO ESML vs SMLF IWC vs SMLF IWC vs SLYG FESM vs IWC IWC vs VIOG

Where to next

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

Sources and dates

ESML and IWC filings on SEC EDGAR ↗

ESML prospectus with the expense ratio (SEC) ↗

iShares page for ESML ↗

IWC prospectus with the expense ratio (SEC) ↗

iShares page for IWC ↗

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, ESML against IWC, data as of Oct 28, 2026. https://etfiq.com/compare/any/esml-vs-iwc

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