IWM vs NSCS
iShares Russell 2000 ETF vs Nuveen Small Cap Select ETF
Which is better, IWM or NSCS?
Nearly the same fund. IWM costs less.
IWM has a lower expense ratio. IWM led over 1Y, NSCS over the full window. The two have moved almost in lockstep, correlation 0.98.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IWM | NSCS |
|---|---|---|
| Expense Ratio | 0.19%Best | 0.86% |
| AUM | $76.0B | $7M |
| Dividend Yield | 0.98% | 0.31% |
| Holdings | 1,972 | 82 |
| Volatility (annualized) | 22.1% | 20.8%Best |
| Max Drawdown | -31.9% | -30.6%Best |
| $10,000 over 3.9 years | $10,047 | $10,688Best |
| Fund Family | iShares by BlackRock (US) | Nuveen |
| Category | Equity | Equity |
| Style | Small Cap Blend | Small Cap Blend |
| Inception | May 22, 2000 | Aug 4, 2021 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 479 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. IWM has data through Oct 15, 2026 and NSCS through Jun 23, 2025.
Volatility and max drawdown, and the $10,000 over 3.9 years row, are measured over the window both funds cover: Aug 5, 2021 to Jun 23, 2025 (3.9 years).
Risk: Volatility and Drawdowns
IWM has been the more volatile fund, with annualized monthly volatility of 22.1% compared with 20.8% for NSCS. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -31.9% for IWM and -30.6% for NSCS. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IWM charges 0.19% per year while NSCS charges 0.86%. On a $10,000 position that is $19 vs $86 annually, a gap of $67 per year that compounds over a long holding period. On income, IWM currently yields 0.98% against 0.31% for NSCS.
You are not choosing between two funds in isolation.
Whichever of IWM and NSCS you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IWM or NSCS?
IWM has an expense ratio of 0.19% while NSCS charges 0.86%. IWM is the cheaper option, by $67 a year on a $10,000 investment.
Which is riskier, IWM or NSCS?
IWM has been the more volatile fund at 22.1% annualized versus 20.8% for NSCS. Worst drawdown: IWM -31.9% vs NSCS -30.6%.
Should I hold both IWM and NSCS?
IWM and NSCS have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, IWM or NSCS?
IWM yields 0.98% while NSCS yields 0.31%, so IWM currently pays the higher dividend yield.
Is NSCS better than IWM?
IWM has a lower expense ratio. IWM led over 1Y, NSCS over the full window. The two have moved almost in lockstep, correlation 0.98. Which one suits a particular account depends on what it is for. This is information, not a recommendation.