AFSMvsIWMWETF Comparison
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First Trust Active Factor Small Cap ETF (AFSM) belongs to the US Multi-Factor segment. iShares Russell 2000 BuyWrite ETF (IWMW) is part of the Options Strategies segment. AFSM's top 3 sector exposures are Technology, Finance and Healthcare. In contrast, IWMW's top sector exposures are Finance, Healthcare and Technology. AFSM is more expensive with a Total Expense Ratio (TER) of 0.75%, versus 0.39% for IWMW. AFSM is up 21.04% year-to-date (YTD) with +$37M in YTD flows. IWMW performs worse with 13.15% YTD performance, and +$21M in YTD flows. Run a side-by-side ETF comparison of AFSM and IWMW below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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AFSM vs IWMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | AFSM IWMW | -0.12%+1.03% | +8.29%+8.19% | +21.04%+13.15% | +31.97%+23.54% | +57.49%n/a | +60.59%n/a |
| Flows | AFSM IWMW | +$14M+$5M | +$21M+$6M | +$37M+$21M | +$60M+$33M | +$95M- | +$98M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | AFSM IWMW | +17.48%+10.38% | +17.97%+12.54% | +19.73%n/a | +21.09%n/a |
| Max drawdown | AFSM IWMW | -4.08%-2.57% | -9.36%-6.92% | -24.90%n/a | -28.44%n/a |
| Max drawdown duration | AFSM IWMW | 19d7d | 46d62d | 303dn/a | 815dn/a |
Trading data
AFSM | IWMW | |
Last sale 7/27/2026 at 1:30 PM | $39.86 | $39.52 |
| Previous close 07/24/2026 | $39.68 | $39.29 |
| Consolidated volume 07/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of June 30, 2026
1-year trailing difference
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AFSM
is actively managed and doesn’t replicate an indexAFSM | IWMW | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/27/2026 at 1:30 PM
Live
Closed
AFSM | IWMW | |
|---|---|---|
| Last price | $39.86 | $39.52 |
| 1D performance | +0.45% | +0.57% |
| AuM | $118.94 M | $56.59 M |
| E/R | 0.75% | 0.39% |
Characteristics
AFSM | IWMW | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Trust | iShares |
| Benchmark | - | Cboe FTSE Russell IWM 2% OTM BuyWrite Index |
| N° of holdings | 331 | 1962 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 3, 2019 | March 14, 2024 |
| ESG | No | No |
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Exposure
Countries
AFSM
USA
90.5%
Other
9.5%
IWMW
USA
96.99%
Other
3.01%
Sectors
AFSM
Technology
20.19%
Finance
19.34%
Healthcare
18.63%
Industrials
10.53%
Consumer Non-Cycl.
7.31%
Other
24%
IWMW
Finance
26%
Healthcare
20.42%
Technology
13.14%
Industrials
11.71%
Other
28.73%
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Diversification
AFSM
Total weight of top 15 holdings out of 15
11.65%
IWMW
Total weight of top 15 holdings out of 15
4.94%
Top 15 holdings
Data as of June 30, 2026
AFSM
National HealthCare Corp.
0.94%
Blue Bird Corp.
0.94%
Penguin Solutions, Inc.
0.91%
Kulicke & Soffa Industries, Inc.
0.87%
Par Pacific Holdings, Inc.
0.80%
Ames National Corp.
0.78%
Matson, Inc.
0.77%
Sphere Entertainment Co.
0.74%
Liquidia Corp.
0.74%
TrustCo Bank Corp. NY
0.71%
Axcelis Technologies, Inc.
0.70%
Lincoln Educational Services Corp.
0.69%
Carpenter Technology Corp.
0.69%
Bloom Energy Corp.
0.69%
Bel Fuse, Inc.
0.68%
IWMW
Moog, Inc.
0.38%
Hut 8 Corp.
0.38%
ViaSat, Inc.
0.36%
BrightSpring Health Services, Inc.
0.36%
Cytokinetics, Inc.
0.36%
MaxLinear, Inc.
0.35%
Argan, Inc.
0.35%
UMB Financial Corp.
0.33%
JFrog Ltd.
0.31%
Riot Platforms, Inc.
0.31%
Krystal Biotech, Inc.
0.31%
ESCO Technologies, Inc.
0.29%
CareTrust REIT, Inc.
0.29%
Old National Bancorp
0.29%
FirstCash Holdings, Inc.
0.28%
Frequently asked questions about AFSM and IWMW
How have the AFSM and IWMW ETFs performed in 2026?
As of July 24, 2026, AFSM is up 21.04% year-to-date (YTD), while IWMW has returned 13.15%. That puts AFSM better performer ahead so far this year.
Which ETF is attracting more investor money: AFSM or IWMW?
Year-to-date, the AFSM ETF saw +$37M in flows, compared to +$21M for IWMW.
Which ETF is more volatile: AFSM or IWMW?
Over the past year, AFSM had a volatility of 17.97%, while IWMW experienced 12.54%.
Which ETF is bigger: AFSM or IWMW?
As of July 24, 2026, AFSM holds $118.94 M in assets under management (AUM), while IWMW manages $56.59 M.
What sectors do the AFSM and IWMW ETFs invest in?
AFSM leans toward sectors like Technology, Finance and Healthcare. Meanwhile, IWMW focuses on Finance, Healthcare and Technology.
What are the top holdings of the AFSM ETF and IWMW ETF?
AFSM top holdings include National HealthCare Corp., Blue Bird Corp. and Penguin Solutions, Inc.. IWMW holds in its top three: Moog, Inc., Hut 8 Corp. and ViaSat, Inc..
Which ETF is more diversified: AFSM or IWMW?
AFSM holds 332 securities with 11.65% of its assets in the top 15. IWMW has 1993 securities and a top 15 weight of 4.94%.
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