Overview
The benchmark small-cap ETF tracking 2,000 smaller US companies. Most liquid small-cap ETF, highly sensitive to domestic economic conditions.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| FTAI | FTAI Aviation | 0.5% |
| SFM | Sprouts Farmers | 0.5% |
| CRS | Carpenter Tech. | 0.4% |
| ONTO | Onto Innovation | 0.4% |
| WNS | WNS Holdings | 0.4% |
| CLFD | Clearfield Inc. | 0.4% |
| ENOV | Enovis Corp. | 0.3% |
| KNSL | Kinsale Capital | 0.3% |
| HIMS | Hims & Hers Health | 0.3% |
| POWL | Powell Industries | 0.3% |
Fund Details
Investment Thesis
Small-cap stocks have historically outperformed large-caps over long periods while providing genuine diversification benefits. IWM tracks 2,000 smaller US companies that collectively represent the domestic-facing US economy, more sensitive to US GDP growth and consumer spending than multinational mega-caps. Small-cap valuations are most attractive following periods of large-cap outperformance.
Who It's For
Investors bullish on US domestic economic growth and those seeking portfolio diversification beyond mega-cap technology. IWM is a popular vehicle for tactical small-cap rotation when valuations favor smaller companies relative to large-caps. Suitable for long-term investors as a diversifying complement to S&P 500 core holdings and for active traders seeking domestically-sensitive equity exposure.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $135.35 | -- |
| 2017 | $152.73 | +12.8% |
| 2018 | $134.73 | -11.8% |
| 2019 | $152.63 | +13.3% |
| 2020 | $196.32 | +28.6% |
| 2021 | $222.14 | +13.2% |
| 2022 | $176.96 | -20.3% |
| 2023 | $200.56 | +13.3% |
| 2024 | $218.81 | +9.1% |
| 2025 | $213.42 | -2.5% |
| Year | Yield |
|---|---|
| 2016 | 1.12% |
| 2017 | 0.97% |
| 2018 | 1.18% |
| 2019 | 1.09% |
| 2020 | 0.94% |
| 2021 | 0.78% |
| 2022 | 1.08% |
| 2023 | 1.01% |
| 2024 | 0.88% |
| 2025 | 0.90% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $35B | -- |
| 2017 | $41B | +17.1% |
| 2018 | $40B | -2.4% |
| 2019 | $46B | +15.0% |
| 2020 | $75B | +63.0% |
| 2021 | $79B | +5.3% |
| 2022 | $57B | -27.8% |
| 2023 | $60B | +5.3% |
| 2024 | $72B | +20.0% |
| 2025 | $68B | -5.6% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
Related US Broad Market ETFs
Markets. Intelligence. Daily.
Full briefs on 251 ETFs, curated daily ETF news, and a free weekly deep-dive newsletter — all on ETFHub.
Get the Free Weekly Brief Explore the ETF Portal Official Fund Page →