SPSMvsIWMWETF Comparison
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State Street SPDR Portfolio S&P 600 Small Cap ETF (SPSM) belongs to the US Multi-Factor segment. iShares Russell 2000 BuyWrite ETF (IWMW) is part of the Options Strategies segment. SPSM's top 3 sector exposures are Finance, Technology and Industrials. In contrast, IWMW's top sector exposures are Finance, Healthcare and Technology. SPSM is less expensive with a Total Expense Ratio (TER) of 0.03%, versus 0.39% for IWMW. SPSM is up 18.88% year-to-date (YTD) with +$832M in YTD flows. IWMW performs worse with 13.7% YTD performance, and +$24M in YTD flows. Run a side-by-side ETF comparison of SPSM 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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SPSM vs IWMW performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/11/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | SPSM IWMW | -4.12%-2.56% | +0.24%+4.23% | +18.88%+13.70% | +20.06%+16.20% | +53.22%n/a | +40.38%n/a |
| Flows | SPSM IWMW | -$226M-$821K | +$289M+$7M | +$832M+$24M | +$1.01B+$33M | +$3.80B- | +$8.25B- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | SPSM IWMW | +13.02%+9.84% | +16.60%+12.34% | +20.23%n/a | +21.25%n/a |
| Max drawdown | SPSM IWMW | -5.96%-3.79% | -8.68%-6.92% | -27.91%n/a | -27.91%n/a |
| Max drawdown duration | SPSM IWMW | 26d26d | 59d62d | 380dn/a | 380dn/a |
Trading data
SPSM | IWMW | |
Last sale 9/11/2026 at 1:30 PM | $55.31 | $38.48 |
| Previous close 09/10/2026 | $55.01 | $38.52 |
| Consolidated volume 09/10/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of August 31, 2026
1-year trailing difference
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SPSM | 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 9/11/2026 at 1:30 PM
Live
Closed
SPSM | IWMW | |
|---|---|---|
| Last price | $55.31 | $38.48 |
| 1D performance | +0.55% | -0.10% |
| AuM | $16.32 B | $58.07 M |
| E/R | 0.03% | 0.39% |
Characteristics
SPSM | IWMW | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | iShares |
| Benchmark | S&P SmallCap 600 GARP Index | Cboe FTSE Russell IWM 2% OTM BuyWrite Index |
| N° of holdings | 600 | 1945 |
| Asset class | Equities | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 8, 2013 | March 14, 2024 |
| ESG | No | No |
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Exposure
Countries
SPSM
USA
97.23%
Other
2.77%
IWMW
USA
96.06%
Other
3.94%
Sectors
SPSM
Finance
26.65%
Technology
12.84%
Industrials
12.29%
Healthcare
10.65%
Consumer Cyclical.
8.02%
Other
29.55%
IWMW
Finance
26.88%
Healthcare
20.29%
Technology
11.87%
Industrials
10.58%
Other
30.37%
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Diversification
SPSM
Total weight of top 15 holdings out of 15
7.34%
IWMW
Total weight of top 15 holdings out of 15
5.1%
Top 15 holdings
Data as of July 31, 2026
SPSM
Corcept Therapeutics, Inc.
0.61%
ViaSat, Inc.
0.58%
Glaukos Corp.
0.54%
Match Group, Inc.
0.51%
Brinker International, Inc.
0.51%
Jackson Financial, Inc.
0.48%
Ryman Hospitality Properties, Inc.
0.47%
Element Solutions, Inc.
0.47%
FormFactor, Inc.
0.46%
Protagonist Therapeutics, Inc.
0.46%
ESCO Technologies, Inc.
0.45%
Alkermes Plc
0.45%
CarMax, Inc.
0.45%
StoneX Group, Inc.
0.45%
Eastman Chemical Co.
0.44%
IWMW
BlackRock Cash Funds - Treasury
0.61%
Moog, Inc.
0.39%
BrightSpring Health Services, Inc.
0.38%
Hut 8 Corp.
0.36%
UMB Financial Corp.
0.35%
Cytokinetics, Inc.
0.34%
ViaSat, Inc.
0.32%
Glaukos Corp.
0.31%
Krystal Biotech, Inc.
0.31%
CareTrust REIT, Inc.
0.30%
Old National Bancorp
0.30%
Brinker International, Inc.
0.29%
Crinetics Pharmaceuticals, Inc.
0.28%
HealthEquity, Inc.
0.28%
JFrog Ltd.
0.28%
Frequently asked questions about SPSM and IWMW
How have the SPSM and IWMW ETFs performed in 2026?
As of September 11, 2026, SPSM is up 18.88% year-to-date (YTD), while IWMW has returned 13.7%. That puts SPSM better performer ahead so far this year.
Which ETF is attracting more investor money: SPSM or IWMW?
Year-to-date, the SPSM ETF saw +$832M in flows, compared to +$24M for IWMW.
Which ETF is more volatile: SPSM or IWMW?
Over the past year, SPSM had a volatility of 16.6%, while IWMW experienced 12.34%.
Which ETF is bigger: SPSM or IWMW?
As of September 11, 2026, SPSM holds $16.32 B in assets under management (AUM), while IWMW manages $58.07 M.
What sectors do the SPSM and IWMW ETFs invest in?
SPSM leans toward sectors like Finance, Technology and Industrials. Meanwhile, IWMW focuses on Finance, Healthcare and Technology.
What are the top holdings of the SPSM ETF and IWMW ETF?
SPSM top holdings include Corcept Therapeutics, Inc., ViaSat, Inc. and Glaukos Corp.. IWMW holds in its top three: BlackRock Cash Funds - Treasury, Moog, Inc. and BrightSpring Health Services, Inc..
Which ETF is more diversified: SPSM or IWMW?
SPSM holds 602 securities with 7.34% of its assets in the top 15. IWMW has 1957 securities and a top 15 weight of 5.1%.
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Latest news about SPSM & IWMW
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