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IWMW iShares Russell 2000 BuyWrite ETF

Covered call on IWM, paying monthly

Over the year to Sep 11, 2026, IWMW paid 19.1% in cash and still finished 5.8 points behind IWM.

iShares · Income ETFs · data as of

Key facts

19.1%Cash paid, 1 year, on its starting price
+15.4%Total return, 1 year
−5.8 ptsAgainst IWM
7.3%Latest payout, annualized

Method

ETFIQ Return Stability Score

42.5joint 106th of 161

IWMW paid 19.1% in cash. Its price fell 5.3%, so 28% of what you were paid came back out of your own capital.

Was the payout funded by returns, or by your own capital?

Against its benchmark
MLPD −38.1 ptsMDST −30.2 ptsSLTY −29.1 ptsBLOX −27.8 ptsEIPI −27.8 ptsYQQQ −27.6 ptsULTY −23.3 ptsGDXY −22.0 ptsHIGH −20.8 ptsTOPW −18.6 ptsTDVI −18.3 ptsYMAX −18.1 ptsHISF −17.3 ptsACKY −17.2 ptsWEEI −16.9 ptsNDIV −16.6 ptsLQDW −16.2 ptsOARK −15.8 ptsFDND −15.5 ptsTCAL −15.0 ptsQRMI −14.8 ptsSDVD −14.8 ptsLFGY −14.5 ptsSLJY −14.5 ptsSCLZ −14.1 ptsYFYA −13.9 ptsQUSA −13.5 ptsHYGW −13.0 ptsJULH −13.0 ptsXLRI −13.0 ptsMAGY −12.9 ptsYYY −12.7 ptsXLKI −12.6 ptsJULJ −12.4 ptsLJUL −12.4 ptsJANJ −12.3 ptsLJAN −12.3 ptsFGSI −12.2 ptsLOCT −12.1 ptsRNTY −12.1 ptsAIPI −12.0 ptsIWMY −12.0 ptsOCTJ −11.9 ptsHIPS −11.7 ptsJUCY −11.6 ptsXLEI −11.6 ptsAPRJ −11.3 ptsLAPR −11.3 ptsXISE −11.3 ptsXIJN −11.1 ptsCVRD −11.0 ptsJANH −11.0 ptsAPRH −10.9 ptsXBTY −10.7 ptsXIDE −10.7 ptsOCTH −10.6 ptsJEPI −10.3 ptsXIMR −10.1 ptsSRHR −9.7 ptsXRMI −8.7 ptsVEGA −8.3 ptsBUYW −8.2 ptsIAUI −7.9 ptsBAGY −7.7 ptsXV −7.5 ptsKHPI −7.3 ptsYBTC −7.3 ptsFTHI −7.0 ptsYLDE −6.8 ptsIGLD −6.1 ptsQQQI −6.1 ptsRDVI −6.0 ptsSPIN −5.9 ptsFEPI −5.8 ptsTYLG −5.7 ptsBITY −5.6 ptsSPUT −5.4 ptsWTPI −5.2 ptsPAPI −4.7 ptsXLVI −4.7 ptsETCO −4.3 ptsJEPQ −4.1 ptsCAIE −4.0 ptsFTKI −3.9 ptsGPTY −3.7 ptsIQQQ −3.7 ptsGIAX −3.4 ptsBIGY −3.3 ptsISPY −3.1 ptsRYLD −3.1 ptsWEEL −2.9 ptsYMAG −2.9 ptsRDTY −2.6 ptsXLBI −2.5 ptsNBOS −1.8 ptsRYLG −1.8 ptsSPYI −1.7 ptsFTQI −1.6 ptsKNG −1.6 ptsTSPY −1.6 ptsTHTA −1.5 ptsQQQY −1.3 ptsRDTE −1.3 ptsDIVO −1.2 ptsSIXH −1.2 ptsXYLD −1.2 ptsDFII −1.1 ptsGPIQ −1.1 ptsQDTY −1.1 ptsXYLG −1.1 ptsXDTE −0.9 ptsQDTE −0.7 ptsQYLD −0.7 ptsXLII −0.7 ptsXPAY −0.7 ptsEGGY −0.6 ptsJOYT −0.6 ptsSDTY −0.6 ptsWDTE −0.4 ptsBTCC −0.3 ptsQYLG −0.3 ptsGPIX 0.0 ptsDJIA +0.1 ptsDYLG +0.3 ptsIWMI +0.3 ptsKGLD +0.3 ptsXLFI +0.3 ptsIVVW +0.4 ptsLTTI +0.5 ptsLQTI +0.6 ptsPBP +0.6 ptsHYTI +0.9 ptsTDAQ +0.9 ptsCSHI +1.3 ptsBALI +1.4 ptsYETH +1.5 ptsHYBL +1.6 ptsXLUI +1.6 ptsCHPY +1.9 ptsBTCI +2.1 ptsSOXY +2.3 ptsITWO +2.5 ptsDOGG +2.7 ptsCEPI +2.9 ptsXLYI +2.9 ptsYBIT +2.9 ptsTLTP +3.4 ptsDUBS +4.0 ptsSEPI +4.7 ptsXLCI +5.2 ptsIDVO +5.4 ptsTLTW +5.4 ptsBCCC +6.3 ptsOMAH +6.5 ptsIDUB +6.9 ptsXLSI +8.8 ptsUSOY +10.5 ptsBUCK +10.9 ptsKLIP +20.9 ptsNVYY +24.6 ptsIWMW −5.8 ptsIWMW −5.8 pts−38.1 pts+24.6 pts

46.3% of the 161 sit at or below IWMW on this measure.

What happened to the principal
ETCO −75.0%XBTY −74.7%YETH −67.4%YBTC −61.4%BTCC −59.9%YBIT −58.9%BAGY −58.0%SLTY −54.4%ULTY −53.3%NVYY −52.4%BITY −51.9%BCCC −49.4%BTCI −46.9%DFII −44.8%LFGY −43.0%YMAX −41.0%BLOX −38.8%TOPW −36.6%OARK −33.3%KLIP −32.8%GDXY −32.5%YMAG −27.1%YQQQ −26.3%MAGY −25.8%IWMY −23.1%CEPI −21.0%RDTY −19.9%RDTE −19.4%QDTE −18.5%EGGY −15.1%TLTP −14.5%XLYI −14.1%LTTI −13.8%ACKY −13.7%WDTE −13.7%QQQY −13.0%QDTY −12.8%XDTE −12.8%AIPI −12.2%QUSA −11.8%LQTI −10.4%TLTW −10.3%SDTY −9.9%GIAX −9.8%XLUI −9.5%HIGH −9.3%LQDW −9.3%TCAL −9.0%FEPI −8.5%XV −8.4%IGLD −8.1%XLRI −8.0%XLCI −7.9%FDND −7.6%YYY −7.5%XLSI −7.3%RNTY −6.5%HYTI −6.3%GPTY −6.0%OMAH −6.0%XLBI −5.7%HYGW −5.6%HIPS −5.2%XPAY −4.9%HISF −4.7%QRMI −4.2%USOY −4.0%XLFI −3.8%FGSI −3.2%BUCK −2.5%HYBL −2.5%JUCY −2.3%XRMI −2.3%MLPD −1.7%CAIE −1.6%IAUI −1.6%YFYA −1.6%IVVW −1.4%CVRD −1.3%JEPI −1.1%KNG −0.9%XIJN −0.7%JULJ −0.6%WTPI −0.5%CSHI −0.4%JULH −0.3%LJUL −0.2%XISE 0.0%JANH +0.1%JANJ +0.1%LAPR +0.1%LOCT +0.1%LJAN +0.2%OCTJ +0.2%XLII +0.2%APRJ +0.3%OCTH +0.3%XIDE +0.3%XIMR +0.4%APRH +0.5%TSPY +0.6%KHPI +0.7%BIGY +0.8%WEEL +0.9%SRHR +1.0%FTHI +1.1%QQQI +1.5%XLVI +2.1%SPYI +2.6%QYLG +2.8%YLDE +2.8%BUYW +2.9%SDVD +3.0%XYLG +3.4%KGLD +3.8%THTA +3.9%DJIA +4.2%FTKI +4.3%SCLZ +4.4%PAPI +4.5%RYLD +4.7%XLKI +5.0%PBP +5.1%IWMI +5.3%DYLG +5.4%TDAQ +5.9%XYLD +5.9%JEPQ +6.0%SPIN +6.1%NBOS +6.5%SPUT +6.5%RYLG +7.1%GPIX +7.9%FTQI +8.0%DOGG +8.2%ISPY +8.4%QYLD +8.4%DIVO +8.9%MDST +9.3%VEGA +9.4%BALI +9.5%GPIQ +9.8%SLJY +11.0%RDVI +11.7%TDVI +11.7%IQQQ +12.3%SEPI +13.8%XLEI +13.8%SIXH +14.1%ITWO +14.3%EIPI +14.6%JOYT +16.1%IDVO +16.4%DUBS +18.9%WEEI +18.9%IDUB +19.0%TYLG +21.2%NDIV +22.9%CHPY +24.9%SOXY +68.6%IWMW −5.3%IWMW −5.3%−75.0%+68.6%

38.8% of the 161 sit at or below IWMW on this measure.

Weighted evenly, those two positions are what the score combines, across the 161 income ETFs writing on an index or proxy. Neither spread above is the score: a fund can sit further right on one and score lower. A position in this set, not a rating: it moves when the set moves, and it is not a figure to average against another desk's.

What the score is computed from
What it measuresThis fundIts percentileWeight
against its benchmark−5.8 pts46.350%
what happened to the principal−5.3%38.850%

All income ETFs ranked by this score · How it is computed

8th of 9 income ETFs writing on IWM, by return against it

What a holder got

IWMW against IWMIWMW returned +15.4% with distributions reinvested against +21.2% for Russell 2000 (IWM), a gap of −5.8 pts. Of that, 19.1% arrived as cash rather than price.+15.4%IWMW total return+21.2%Russell 2000 (IWM)19.1% of it arrived as cash

Over the year to Sep 11, 2026, IWMW returned +15.4% with distributions reinvested and Russell 2000 (IWM) returned +21.2%, so a holder came out behind it by 5.8 points. The lighter segment is the 19.1% that arrived as cash rather than as price.

Method

Period by period

IWMW over each window to Sep 11, 2026. Every figure is an ETFIQ calculation. Source: ETFIQ.
WindowCash paidPriceTotal returnIWMAhead or behind
3 months3.6%−0.8%+2.8%−1.1%+4.0 pts
6 months9.6%+4.2%+14.2%+17.6%−3.5 pts
1 year19.1%−5.3%+15.4%+21.2%−5.8 pts
Since launch42.5%−21.7%+29.0%+46.6%−17.6 pts

Method

When IWMW pays

IWMW pays monthly. The last distribution was $0.2356 a share, which went ex on Sep 2, 2026, with payment about 2 days later. The next has not been declared. On its own cadence of about 30 days the ex-date falls near Oct 2, 2026; that date is an ETFIQ projection, not the issuer’s.

Expected distributions for IWMW. Where the basis is a projection, ETFIQ has carried the fund’s own spacing forward from its last ex-date and held the amount at the last one paid; neither is an issuer statement. Source: ETFIQ.
Ex-datePay dateAmountBasis
Oct 2, 2026Oct 5, 2026$0.2356ETFIQ projection from the fund’s own cadence
Every distribution ETFIQ holds for IWMW (13, most recent first)
Cash distributions per share for IWMW. Source: ETFIQ from Tiingo end-of-day distributions.
Ex-dateAmount
Sep 2, 2026$0.2356
Aug 4, 2026$0.5556
Jul 2, 2026$0.6247
Jun 2, 2026$0.7829
May 4, 2026$0.6164
Apr 2, 2026$0.7475
Mar 3, 2026$0.6934
Feb 3, 2026$0.722
Dec 23, 2025$0.6856
Dec 2, 2025$0.5612
Nov 4, 2025$0.7054
Oct 2, 2025$0.8172
Sep 3, 2025$0.5409

Every income ETF going ex-dividend in the next fortnight

Method

In plain words

Since it launched on Mar 15, 2024, IWMW has returned +29.0% with distributions reinvested, against +46.6% for Russell 2000 (IWM), and has paid out 42.5% of its starting value in cash along the way. It pays monthly, and at its current price the latest distribution annualizes to 7.3%. No Rule 19a-1 notice has been published for this fund, so there is no issuer estimate of how much of its distributions was a return of capital.

IWMW (iShares Russell 2000 BuyWrite ETF), income ETFs fields as of Sep 11, 2026. Source: ETFIQ.
Strategycovered call
BenchmarkRussell 2000 (IWM)
Paysmonthly
Net assets (the issuer own daily fund list, as of Sep 11, 2026)$58m
Latest payout, annualized (ETFIQ)7.3%
Expense ratio (485BPOS XBRL, Feb 23, 2026)0.39%
Cash paid, last 12 months, over today’s price (ETFIQ)20.1%
LaunchedMar 15, 2024
Paysmonthly
Typical gap between ex-dates30 days
Typical wait from ex-date to payment2 days
Last paid, per share$0.2356 ex Sep 2, 2026
Sum of the last 12 distributions$7.7475

Every figure is an ETFIQ calculation from exchange prices and cash distributions (Tiingo end-of-day), total return with distributions reinvested. Return of capital is the issuer’s estimate. How these figures are computed

Questions people ask

How much has IWMW paid over the last year?
Over the year to Sep 11, 2026, IWMW paid 19.1% of its starting price in cash distributions, while the price fell 5.3%.
Is IWMW ahead of IWM?
Over the year to Sep 11, 2026, with every distribution reinvested, IWMW returned +15.4% against +21.2% for Russell 2000 (IWM), so a holder was behind it by 5.8 points.
How often does IWMW pay, and how much?
IWMW pays monthly. The latest distribution annualizes to 7.3% at its price on Sep 11, 2026, which is not a promise; the next one can differ.
When does IWMW next pay a distribution?
IWMW pays monthly. The last distribution went ex on Sep 2, 2026 at $0.2356 a share. The next is not declared; on a cadence of about 30 days the ex-date falls near Oct 2, 2026, which is an ETFIQ projection. Payment usually follows the ex-date by 2 days.
What does IWMW cost?
The prospectus expense ratio is 0.39% a year.

The words on this page

Total return
What a holder actually ended up with: price change plus every distribution, reinvested. The only figure that answers whether you came out ahead.
Cash paid
Distributions over the window as a share of what the fund cost at the start. A measure of cash delivered, not of return: a fund can pay a great deal and still lose money.
Ahead or behind
The fund’s total return minus the benchmark’s over exactly the same days, in percentage points. Both sides reinvest.
Return of capital
The issuer’s own estimate, in a Rule 19a-1 notice, of how much of a distribution was your own money returned. An estimate and a tax characterization, not a measure of erosion.
Covered call
Selling call options on shares the fund holds. It collects a premium and gives up the gains above the strike, which is why these funds pay well and lag a rising market.

Every term used here, defined in full on the income ETFs vocabulary page.

Where these figures came from

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.

Funds near this one

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IWMW payout bar, ETFIQ

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Where IWMW is written about

IWMW, Income ETFs, ETFIQ, data as of Sep 11, 2026. Every figure is arithmetic on a named public source; the method is at etfiq.com/methodology. ETFIQ is an independent publisher, is not a fund issuer, broker-dealer or investment adviser, and makes no recommendations.
Use this data, or open the live card

Open IWMW live on ETFIQ, where the figures refresh with the data.

Cite this page. ETFIQ, IWMW, income ETFs, data as of Sep 11, 2026. https://etfiq.com/funds/iwmw Free to use with attribution; the underlying files are at Open data.

How these figures are computed · Standards and sources