Dividend comparison
IWM vs IWMI: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Russell 2000 ETF and NEOS Russell 2000 High Income ETF, side by side. Updated October 21, 2026.
IWM vs IWMI: key differences
The short answer, from the latest data on this page.
- Fees. IWM is cheaper at 0.19% a year versus 0.76% for IWMI. On $10,000 that is $57 a year less in fees.
- Income. IWMI pays more income, yielding 14.86% over the last twelve months versus 0.99% for IWM. That is about $1,387 more a year on $10,000. IWM pays quarterly, IWMI pays monthly.
- Performance. Over the last 1 year, IWM returned 12.3% versus 0.8% for IWMI, with dividends reinvested. $10,000 would have grown to $11,226 in IWM and $10,080 in IWMI.
- Risk. IWM has been the bumpier ride. Its worst peak-to-trough decline over the last 1 year was -31.9%, against -23.9% for IWMI.
- Diversification. IWM holds 1,981 positions and IWMI holds 3. The ten largest positions make up 3.3% of IWM and 98.2% of IWMI.
- Size. IWM is the larger fund with $74.9 billion in assets, against $1.3 billion for IWMI.
Bottom line: IWM fits better if you care most about lower fees, stronger 1-year returns and broader diversification. IWMI fits better if you care most about more income today and smaller drawdowns.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | IWM iShares Russell 2000 ETF | IWMI NEOS Russell 2000 High Income ETF |
|---|---|---|
| Dividend yield (TTM) | 0.99% | 14.86% |
| Dividend / share (TTM) | $2.73 | $7.26 |
| Payout frequency | Quarterly | Monthly |
| Last dividend | $0.7504 on Sep 18, 2026 | $0.6075 on Sep 18, 2026 |
| Ex-dividend date | Sep 15, 2026 | Sep 16, 2026 |
| Dividend growth (CAGR) | 5.1% over 4 yrs | — |
| Price | $275.78 | $48.84 |
| Dividend growth streak | 1 year | — |
| Beta | 1.14 | 0.95 |
| Max drawdown (5Y) | -31.9% | -23.9% |
| Market cap | $77.59B | $255.6M |
| Exchange | AMEX | CBOE |
| Expense ratio | 0.19% | 0.76% |
| Assets under management | $74.85B | $1.28B |
| Number of holdings | 1981 | 3 |
| Top 10 concentration | 3.3% | 98.2% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
IWM
$8.25/mo
$99 /yr at 0.99% yield
IWMI
$123.83/mo
$1486 /yr at 14.86% yield
Dividend history
Total dividends paid per share in each calendar year. IWM pays quarterly; IWMI pays monthly.
| Year | IWM | IWMI |
|---|---|---|
| 2025 | $2.5547 | $6.8416 |
| 2024 | $2.5305 | — |
| 2023 | $2.7021 | — |
| 2022 | $2.5850 | — |
| 2021 | $2.0900 | — |
Strategy: Small and mid cap
Funds that hold companies below the large-cap tier, where there is more room for growth and less coverage by analysts. Small-cap indexes differ meaningfully: some screen for profitability, some include every listed company, and value-tilted funds lean toward the cheapest names. Those rules drive more of the difference between funds than fees do.
Smaller companies are more sensitive to recessions and borrowing costs, so drawdowns run deeper than in large-cap funds.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Jun 25, 2024 would now be worth $14,054 in IWM and $12,146 in IWMI.
| Period | IWM | IWMI |
|---|---|---|
| 1 month | -2.93% | -2.32% |
| 3 months | -5.41% | -7.62% |
| Year to date | 12.79% | 0.33% |
| 1 year | 12.26% | 0.80% |
| 3 years | 70.87% | — |
| 5 years | 28.69% | — |
- IWM
- IWMI
Both series indexed to 100 on 2024-06-25 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- IWM
- IWMI
IWM vs IWMI holdings overlap
At least 0% overlap by weight, with 0 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Top 10 holdings
Largest positions by portfolio weight.
IWM1981 holdings total
IWMI3 holdings total
| Name | Weight |
|---|---|
| VTWOVanguard Russell 2000 ETF | 99.68% |
| Cash&OtherCash & Other | 0.68% |
| RUT 260821C03160000RUT US 08/21/26 C3160 | -0.01% |
| RUT 260821C03105000RUT US 08/21/26 C3105 | -0.05% |
| RUT 261120C02925000RUT US 11/20/26 C2925 | -0.18% |
| RUT 261016C03050000RUT US 10/16/26 C3050 | -0.24% |
| RUT 261120C02875000RUT US 11/20/26 C2875 | -0.32% |
| RUT 260918C03045000RUT US 09/18/26 C3045 | -0.33% |
| RUT 261016C03005000RUT US 10/16/26 C3005 | -0.40% |
| RUT 260918C02995000RUT US 09/18/26 C2995 | -0.61% |
Quick verdict
IWM fits better if you care most about lower fees, stronger 1-year returns and broader diversification. IWMI fits better if you care most about more income today and smaller drawdowns. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is IWM or IWMI better for dividend income?
It depends on your goals. IWM currently yields 0.99% Trailing Twelve Months (TTM) while IWMI yields 14.86%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between IWM and IWMI?
iShares Russell 2000 ETF (IWM) is an ETF listed on AMEX. NEOS Russell 2000 High Income ETF (IWMI) is an ETF listed on CBOE. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, IWM or IWMI?
IWM has the lower expense ratio. IWM charges 0.19% a year and IWMI charges 0.76%, a difference of $57 a year on a $10,000 investment.
Which has performed better, IWM or IWMI?
Over the last 1 year, IWM has the higher total return with dividends reinvested: IWM returned 12.3% and IWMI returned 0.8%. Past performance does not predict future returns.
Which is riskier, IWM or IWMI?
Measured by the worst peak-to-trough decline over the last five years, IWM has been riskier: IWM fell as much as 31.9% and IWMI as much as 23.9%. Their betas are 1.14 and 0.95.
How often do IWM and IWMI pay dividends?
IWM pays quarterly and IWMI pays monthly.
How much income does $10,000 in IWM vs IWMI generate?
At current TTM yields, $10,000 in IWM would generate roughly $8.25 per month ($99 annually). The same amount in IWMI would produce about $123.83 per month ($1486 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both IWM and IWMI?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare IWM vs IWMI with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IWM and IWMI fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.