IWCvsAFSMETF Comparison
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iShares Micro-Cap ETF (IWC) belongs to the US Small Cap segment. First Trust Active Factor Small Cap ETF (AFSM) is part of the US Multi-Factor segment. IWC's top 3 sector exposures are Health Care, Financials and Information Technology. In contrast, AFSM's top sector exposures are Health Care, Industrials and Information Technology. IWC is less expensive with a Total Expense Ratio (TER) of 0.6%, versus 0.75% for AFSM. IWC is up 14.21% year-to-date (YTD) with +$130M in YTD flows. AFSM performs worse with 11.76% YTD performance, and +$16M in YTD flows. Run a side-by-side ETF comparison of IWC and AFSM 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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IWC vs AFSM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | IWC AFSM | +11.89%+10.79% | +5.92%+5.99% | +14.21%+11.76% | +65.21%+34.48% | +79.54%+61.16% | +27.94%+45.12% |
| Flows | IWC AFSM | +$19M+$3M | +$30M+$11M | +$130M+$16M | +$147M+$45M | -$43M+$74M | -$148M+$75M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | IWC AFSM | +27.90%+21.30% | +23.51%+17.70% | +24.14%+19.79% | +24.46%+21.24% |
| Max drawdown | IWC AFSM | -11.16%-9.36% | -12.28%-9.36% | -29.17%-24.90% | -40.56%-28.44% |
| Max drawdown duration | IWC AFSM | 76d46d | 82d46d | 233d303d | 1562d815d |
Trading data
IWC | AFSM | |
Last sale 4/27/2026 at 3:21 PM | $179.88 | $36.66 |
| Previous close 04/24/2026 | $179.69 | $36.32 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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AFSM
is actively managed and doesn’t replicate an indexIWC | AFSM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/27/2026 at 3:21 PM
Live
Closed
IWC | AFSM | |
|---|---|---|
| Last price | $179.88 | $36.66 |
| 1D performance | +0.11% | +0.93% |
| AuM | $1.38 B | $89.87 M |
| E/R | 0.6% | 0.75% |
Characteristics
IWC | AFSM | |
|---|---|---|
| Management strategy | Passive | Active |
| Provider | iShares | First Trust |
| Benchmark | Russell Microcap Index | - |
| N° of holdings | 964 | 282 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | August 12, 2005 | December 3, 2019 |
| ESG | No | No |
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Exposure
Countries
IWC
USA
93.58%
Other
6.42%
AFSM
USA
86.31%
Other
13.69%
Sectors
IWC
Health Care
20.7%
Financials
17.02%
Information Techn.
15.6%
Industrials
10.16%
Other
36.52%
AFSM
Health Care
16.38%
Industrials
16.23%
Information Techn.
15.86%
Financials
14.41%
Consumer Discreti.
9.12%
Other
28%
Diversification
IWC
Total weight of top 15 holdings out of 15
13.84%
AFSM
Total weight of top 15 holdings out of 15
13.65%
Top 15 holdings
Data as of March 31, 2026
IWC
US74006W2070
1.73%
APPLIED BLOCKCHAIN
1.17%
APPLIED OPTOEL/D
1.16%
COGENT BIOSCIENCES
1.15%
TERNS PHARMACEUTICALS
1.05%
TERAWULF INC
0.93%
ENERGY FUELS
0.89%
CIPHER MINING INC
0.87%
CELCUITY INC
0.83%
COMMSCOPE HOLDING
0.83%
TUTOR PERINI
0.71%
ERASCA
0.64%
COMPOSECURE INC
0.63%
US2528281080
0.63%
AXT
0.62%
AFSM
TTM TECHNOLOGIES
1.37%
VIAVI SOLUTIONS INC
1.06%
AMES NATIONAL
1.05%
BLOOM ENERGY CORP
1.01%
PEABODY ENERGY
0.98%
KYG386441037
0.97%
US71385M1071
0.91%
PHOTRONICS
0.90%
NLIGHT INC
0.81%
PAR PACIFIC HOLDINGS INC
0.80%
NATIONAL HEALTHCARE
0.78%
VICOR
0.77%
INTERFACE
0.76%
SCORPIO TANKERS
0.75%
MATSON
0.73%
Frequently asked questions about IWC and AFSM
How have the IWC and AFSM ETFs performed in 2026?
As of April 24, 2026, IWC is up 14.21% year-to-date (YTD), while AFSM has returned 11.76%. That puts IWC better performer ahead so far this year.
Which ETF is attracting more investor money: IWC or AFSM?
Year-to-date, the IWC ETF saw +$130M in flows, compared to +$16M for AFSM.
Which ETF is more volatile: IWC or AFSM?
Over the past year, IWC had a volatility of 23.51%, while AFSM experienced 17.7%.
Which ETF is bigger: IWC or AFSM?
As of April 24, 2026, IWC holds $1.38 B in assets under management (AUM), while AFSM manages $89.87 M.
What sectors do the IWC and AFSM ETFs invest in?
IWC leans toward sectors like Health Care, Financials and Information Technology. Meanwhile, AFSM focuses on Health Care, Industrials and Information Technology.
What are the top holdings of the IWC ETF and AFSM ETF?
IWC top holdings include US74006W2070, APPLIED BLOCKCHAIN and APPLIED OPTOEL/D. AFSM holds in its top three: TTM TECHNOLOGIES, VIAVI SOLUTIONS INC and AMES NATIONAL.
Which ETF is more diversified: IWC or AFSM?
IWC holds 1296 securities with 13.84% of its assets in the top 15. AFSM has 310 securities and a top 15 weight of 13.65%.
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