IWM vs SCHA: Grades, Fees and Holdings Compared

iShares Russell 2000 ETF

IWMBNYSE Arca

Schwab U.S. Small-Cap ETF

SCHAANYSE Arca

Overlap

66.5%by weight

Expense ratio

SCHA −0.16pt a year

IWM0.19%SCHA0.03%

Avg volume · 30D

IWM 7.2×the volume

IWM21.9MSCHA3.06M

10Y return · a year

SCHA +0.3pt

IWM+10.3%SCHA+10.6%

IWM vs SCHA Performance

Oct 29, 2021 – Oct 30, 2026

+30.3%IWM+35.3%SCHA

Expense ratio: IWM 0.19%; SCHA 0.03%, better
Fund size: IWM $75.5B; SCHA $22B
1Y total return: IWM +14.6%; SCHA +18.9%, better
Yield (12M): IWM 0.98%; SCHA 1.12%, better
Holdings: IWM 1974; SCHA 1743
Avg volume (30D): IWM 21.9M sh, better; SCHA 3.06M sh
NAV per share: IWM $279.44; SCHA $33.00
52W range

ETF.net Grade

Pillar letters and Scores for IWM, SCHA, with each pillar’s weight
Pillar	IWM	SCHA
Cost30% weight	C47	A91Higher
Mission25% weight	A100Higher	A95
Risk15% weight	D34	C40Higher
Tradability15% weight	A91Higher	A86
Holdings10% weight	A70	A81Higher
Durability5% weight	A83Higher	A77

Rank among US Small-Cap funds

How we build Categories ›

Same Category. IWM and SCHA are both graded against the same 16 US Small-Cap funds, so their Grades compare head to head.

US Small-Cap⁠

Category · 16 funds

See all 16 ›

SCHA ranks 1st and IWM 6th of 16 funds in the US Small-Cap Category.

Rank 1ASCHASchwab U.S. Small-Cap ETFScore 81
Rank 2AVBVanguard Morningstar Small-Cap ETFScore 77
Rank 5ASMMDiShares Russell 2500 ETFScore 69
Rank 6BIWMiShares Russell 2000 ETFScore 68
Rank 7BDFASDimensional US Small Cap ETFScore 66

Our read on each fund

ETF.net Research

IWMBiShares Russell 2000 ETF

SCHAASchwab U.S. Small-Cap ETF

In short

IWM The Russell 2000's default trading vehicle. Live since 2000, it packs the small-cap end of the US market into one heavily traded ticker with a deep options market around it. Cheaper funds track the same index; this is the liquid one.

SCHA Schwab's small-cap workhorse: three basis points, roughly 1,700 companies, and a mandate to hold the slice of the US market that sits below the large and mid caps. Running since 2009.

Stated mandate

IWM The Fund seeks to track the Russell 2000 Index, which represents small-capitalization U.S. equities.

SCHA The fund seeks to closely track, before fees and expenses, the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index. It generally invests in that index’s small-cap stocks and normally places at least 90% of net assets in them.

Why people hold it

IWM Roughly 2,000 small US companies in one ticker, weighted by size, no stock picking. iShares has run it since 2000.
The job is to mirror the Russell 2000, and it has tracked that index with very little drift.
Among the most heavily traded funds in US small caps, with a listed options market on top: Cboe options on IWM settle into actual fund shares.cboe.com
0.19% a year, below the median fee in its small-cap index peer group.

SCHA At 0.03% a year, it is tied for the cheapest fund in its small-cap peer group and a fraction of the 0.25% category median. The fee is the one variable you know in advance.
Roughly 1,700 stocks, weighted by size. That is the whole small-cap tail rather than a curated shortlist, and no single name gets to steer the portfolio.
The contract is plain: at least 90% of net assets in the Dow Jones U.S. Small-Cap Total Stock Market Index, and it has tracked that benchmark closely.
Sixteen years old, multi-billion-dollar, actively traded, and pays quarterly. One of the sturdier implementations among the broad small-cap index funds we cover.

Worth knowing

IWM VTWO tracks the same Russell 2000 index for 0.06%. The extra you pay here buys trading depth, not different exposure.
Small caps swing harder than the large-cap market, and this fund holds the full index through those swings rather than sidestepping them.
Income shows up quarterly, and small-cap payouts are a side note, not the point of the fund.

SCHA Small caps move harder than large caps in both directions. This fund takes the full ride with no hedge, buffer, or volatility damper in the design.
The index sorts by size, not quality. Unprofitable and lightly covered companies come along with everything else, since no earnings screen sits in front of the portfolio.
It follows a Dow Jones small-cap index, not the Russell 2000 that IWM and VTWO track, so its returns and headlines about that benchmark will not line up exactly.

Full IWM profile⁠

Full SCHA profile⁠

IWM vs SCHA Holdings

How IWM and SCHA differ

Overlap by weight

66.5%

Shared holdings make up 92.1% of IWM and 66.7% of SCHA.

Level by level

Holdings1,429 in both66.5%
Sector11 Sectors92.2%
Countryby domicile99.1%
Asset classEquity100%

Sector

Sector weights in IWM and SCHA, widest gap first
Sector	More in IWMMore in SCHA	IWM	SCHA
Health Care	IWM +4.1 points	21.1%	17.0%
Financials	IWM +2.1 points	19.3%	17.2%
Consumer Discretionary	SCHA +2.0 points	9.1%	11.1%
Technology	SCHA +2.0 points	13.5%	15.5%
Energy	IWM +1.3 points	7.0%	5.7%
Real Estate	SCHA +1.3 points	5.7%	7.0%
Consumer Staples	SCHA +1.1 points	2.0%	3.0%
Industrials	SCHA +0.9 points	13.2%	14.1%
Communication	SCHA +0.6 points	2.3%	2.9%
Utilities	IWM +0.3 points	2.8%	2.5%
Materials	SCHA +0.1 points	4.1%	4.2%

Country, concentration and asset class

Country by domicile

Country weights in IWM and SCHA, widest gap first
Country	More in IWMMore in SCHA	IWM	SCHA
United States	SCHA +0.5 points	98.4%	98.9%
Other countries (15)	IWM +0.5 points	1.6%	1.1%

Concentration

Weight in the 10 largest Holdings

IWM3.5%
SCHA2.9%

Securities held

IWM1,970
SCHA1,743

Asset class

IWM: Equity
SCHA: Equity

Holdings

Only in IWM541
In both1,429
Only in SCHA314

Only in IWM

541 securities, 7.7% of IWM by weight

Jfrog0.35%
Moog Inc Class A0.34%
Ssr Mining0.19%
Brookfield Infrastructure Corp Cla0.16%
Golar Lng0.15%
Kiniksa Pharmaceuticals Internatio0.14%
Scorpio Tankers0.14%
Marex Group Ltd0.14%
Dht Holdings0.12%
Xenon Pharmaceuticals0.12%
Joby Aviation Class A0.11%
Constellium SE Class A0.10%
Teekay Tankers Ltd Class A0.08%
Bank of Nt Butterfield & Son Ltd0.08%
Imax0.08%
Globant0.07%
Energy Fuels0.07%
Aurinia Pharmaceuticals0.07%
Brookfield Business Corp Class A0.07%
Novagold Resources Inc0.06%
Stoneco Class A0.06%
Super Group0.06%
Webull Corp Class A0.06%
Establishment Labs0.06%
Hamilton Insurance Group Class B0.06%
Nordic American Tankers0.05%
Sfl0.05%
Genius Sports Ltd0.05%
Pelagos Insurance Capital Ltd0.05%
Bladex Inc Class E0.05%
Pagseguro Digital Ltd Class A0.05%
Perpetua Resources0.05%
Urogen Pharma0.05%
Zymeworks0.04%
Dlocal Class A0.04%
Accelerant Holdings Class A0.04%
Dole PLC0.04%
Brightstar Lottery PLC0.03%
Borr Drilling0.03%
Bitdeer Technologies Group Class A0.03%
Critical Metals Corp0.03%
Flex Lng0.03%
Teekay Corporation Corp Ltd0.03%
Under Armour Inc Class C0.03%
Verastem Inc0.03%
Rush Enterprises Class B0.03%
Compass Diversified0.03%
Navigator Holdings0.03%
Ardmore Shipping Corp0.03%
Shore Bancshares Inc0.03%

Only in SCHA

314 securities, 33.3% of SCHA by weight

Halozyme Therapeutics0.35%
Wayfair Class A0.33%
Bitmine Immersion Technologies0.31%
American Healthcare Reit0.27%
Ensign Group0.26%
Ryder System0.26%
Wintrust Financial0.25%
Affiliated Managers Group0.25%
Southstate Bank Corp0.24%
Littelfuse0.24%
Flowserve0.24%
Popular0.24%
New York Times Class A0.24%
Solstice Advanced Materials Inc0.24%
Rambus0.23%
Hecla Mining0.23%
Watts Water Technologies Class A0.23%
Globus Medical Class A0.22%
Sanmina0.22%
Viper Energy Inc Class A0.22%
Allison Transmission Holdings0.22%
Brixmor Property Group Reit Inc0.21%
Columbia Banking System Inc0.21%
Primerica0.21%
Prosperity Bancshares0.21%
Darling Ingredients0.21%
Sentinelone Inc Class A0.21%
Madrigal Pharmaceuticals0.20%
Gitlab Class A0.20%
Arrowhead Pharmaceuticals0.20%
Chord Energy0.20%
Agree Realty Reit0.20%
Spx Technologies Inc0.20%
Oshkosh Corp0.20%
Valmont Inds0.20%
Idacorp0.20%
Ugi0.20%
Viavi Solutions0.20%
Hanover Insurance Group0.19%
Cleveland Cliffs Inc0.19%
Element Solutions Inc0.19%
Simpson Manufacturing0.19%
Venture Global Class A0.19%
Ralliant0.19%
Kirby Corp0.18%
Hyatt Hotels Corp Class A0.18%
Formfactor Inc0.18%
Avnet0.18%
National Fuel Gas0.18%
Axis Capital Holdings0.18%

Weight gaps

The 100 widest of 1,429 Holdings in both funds.

Holding weights in IWM and SCHA, widest gap first
Holding	More in IWMMore in SCHA	IWM	SCHA
Brightspring Health Services IncBTSG	IWM +0.14 points	0.38%	0.24%
GlaukosGKOS	IWM +0.12 points	0.46%	0.34%
Sm EnergySM	IWM +0.11 points	0.33%	0.22%
Tg TherapeuticsTGTX	IWM +0.10 points	0.30%	0.20%
Umb FinancialUMBF	IWM +0.10 points	0.33%	0.23%
Old National BancorpONB	IWM +0.10 points	0.30%	0.20%
Jackson Financial Class AJXN	IWM +0.10 points	0.30%	0.20%
Caretrust ReitCTRE	IWM +0.09 points	0.29%	0.20%
HealthequityHQY	IWM +0.09 points	0.29%	0.20%
Krystal BiotechKRYS	IWM +0.08 points	0.29%	0.20%
Brinker International IncEAT	IWM +0.09 points	0.31%	0.22%
Ryman Hospitality Properties ReitRHP	IWM +0.08 points	0.30%	0.22%
VaxcytePCVX	IWM +0.09 points	0.29%	0.20%
Pbf Energy Class APBF	IWM +0.08 points	0.26%	0.18%
QualysQLYS	IWM +0.08 points	0.27%	0.19%
Viasat IncVSAT	IWM +0.08 points	0.33%	0.25%
Protagonist TherapeuticsPTGX	IWM +0.08 points	0.30%	0.22%
Txnm Energy IncTXNM	IWM +0.08 points	0.22%	0.14%
CytokineticsCYTK	IWM +0.08 points	0.29%	0.21%
Macerich ReitMAC	IWM +0.08 points	0.24%	0.16%
AlkermesALKS	IWM +0.08 points	0.26%	0.18%
Valley NationalVLY	IWM +0.07 points	0.23%	0.16%
Southwest Gas HoldingsSWX	IWM +0.07 points	0.23%	0.16%
Silicon LaboratoriesSLAB	IWM +0.07 points	0.25%	0.18%
Firstcash Holdings IncFCFS	IWM +0.07 points	0.25%	0.18%
Abercrombie and Fitch Class AANF	IWM +0.08 points	0.25%	0.17%
Fluor CorpFLR	IWM +0.07 points	0.22%	0.15%
Commercial MetalsCMC	IWM +0.07 points	0.24%	0.17%
Zurn Elkay Water Solutions CorpZWS	IWM +0.07 points	0.23%	0.16%
TransoceanRIG	IWM +0.07 points	0.23%	0.16%
Interdigital IncIDCC	IWM +0.07 points	0.27%	0.20%
Murphy OilMUR	IWM +0.07 points	0.21%	0.14%
Glacier Bancorp IncGBCI	IWM +0.07 points	0.22%	0.15%
Black Hills CorpBKH	IWM +0.07 points	0.22%	0.15%
Noble Corporation PLCNE	IWM +0.07 points	0.21%	0.14%
Frontdoor IncFTDR	IWM +0.07 points	0.21%	0.14%
Matson IncMATX	IWM +0.07 points	0.23%	0.16%
Ligand PharmaceuticalsLGND	IWM +0.07 points	0.22%	0.15%
Twist BioscienceTWST	IWM +0.07 points	0.34%	0.27%
GatxGATX	IWM +0.07 points	0.22%	0.15%
Terreno Realty ReitTRNO	IWM +0.07 points	0.24%	0.17%
Commvault SystemsCVLT	IWM +0.06 points	0.23%	0.17%
Lantheus HoldingsLNTH	IWM +0.06 points	0.22%	0.16%
Casella Waste Systems Class ACWST	IWM +0.07 points	0.20%	0.13%
Magnolia Oil Gas Corp Class AMGY	IWM +0.06 points	0.21%	0.15%
TerexTEX	IWM +0.07 points	0.22%	0.15%
Hancock WhitneyHWC	IWM +0.06 points	0.20%	0.14%
Cavco IndustriesCVCO	IWM +0.06 points	0.16%	0.10%
Aci WorldwideACIW	IWM +0.07 points	0.20%	0.13%
Praxis Precision MedicinesPRAX	IWM +0.06 points	0.24%	0.18%
Federal Signal CorpFSS	IWM +0.06 points	0.23%	0.17%
CaredxCDNA	IWM +0.06 points	0.15%	0.09%
Cno Financial GroupCNO	IWM +0.06 points	0.18%	0.12%
Essential Properties Realty TrustEPRT	IWM +0.06 points	0.20%	0.14%
Selective Insurance GroupSIGI	IWM +0.06 points	0.20%	0.14%
United BanksharesUBSI	IWM +0.06 points	0.22%	0.16%
Zeta Global Holdings Class AZETA	IWM +0.06 points	0.24%	0.18%
Esco TechnologiesESE	IWM +0.06 points	0.21%	0.15%
Oscar Health Class AOSCR	IWM +0.06 points	0.25%	0.19%
LIFE360LIF	SCHA +0.06 points	0.03%	0.09%
Servicetitan Class ATTAN	IWM +0.06 points	0.17%	0.11%
Herc HoldingsHRI	IWM +0.06 points	0.19%	0.13%
Ameris BancorpABCB	IWM +0.06 points	0.18%	0.12%
Atlantic Union BanksharesAUB	IWM +0.06 points	0.19%	0.13%
Box Inc Class ABOX	IWM +0.06 points	0.20%	0.14%
Jbt MarelJBTM	IWM +0.05 points	0.19%	0.14%
Granite ConstructionGVA	IWM +0.05 points	0.18%	0.13%
Adaptive BiotechnologiesADPT	IWM +0.06 points	0.14%	0.08%
Scholar Rock HoldingSRRK	IWM +0.06 points	0.17%	0.11%
BalchemBCPC	IWM +0.06 points	0.19%	0.13%
Option Care Health IncOPCH	IWM +0.06 points	0.17%	0.11%
Installed Building ProductsIBP	IWM +0.06 points	0.17%	0.11%
Cheesecake Factory IncCAKE	IWM +0.06 points	0.18%	0.12%
New Jersey Resources CorpNJR	IWM +0.05 points	0.18%	0.13%
Haemonetics CorpHAE	IWM +0.06 points	0.19%	0.13%
Heartflow IncHTFL	IWM +0.05 points	0.15%	0.10%
MaxlinearMXL	IWM +0.06 points	0.20%	0.14%
Kite Realty Group Trust ReitKRG	IWM +0.05 points	0.17%	0.12%
Home Bancshares IncHOMB	IWM +0.06 points	0.19%	0.13%
Varonis SystemsVRNS	IWM +0.06 points	0.19%	0.13%
Ormat Tech IncORA	IWM +0.06 points	0.19%	0.13%
Portland General ElectricPOR	IWM +0.06 points	0.18%	0.12%
Champion Homes IncSKY	IWM +0.06 points	0.16%	0.10%
Compass Inc Class ACOMP	IWM +0.05 points	0.22%	0.17%
Cnx ResourcesCNX	IWM +0.05 points	0.18%	0.13%
Essent GroupESNT	IWM +0.06 points	0.20%	0.14%
Associated BancorpASB	IWM +0.05 points	0.17%	0.12%
Phillips Edison and CompanyPECO	IWM +0.05 points	0.17%	0.12%
EnproNPO	IWM +0.06 points	0.20%	0.14%
Kymera TherapeuticsKYMR	IWM +0.06 points	0.27%	0.21%
Tenable Holdings IncTENB	IWM +0.05 points	0.19%	0.14%
One GasOGS	IWM +0.05 points	0.17%	0.12%
Spyre Therapeutics IncSYRE	IWM +0.06 points	0.25%	0.19%
TidewaterTDW	IWM +0.06 points	0.15%	0.09%
Insight Enterprises IncNSIT	IWM +0.06 points	0.18%	0.12%
Spire IncSR	IWM +0.05 points	0.17%	0.12%
Plexus CorpPLXS	IWM +0.05 points	0.19%	0.14%
RadnetRDNT	IWM +0.06 points	0.18%	0.12%
Patterson Uti Energy IncPTEN	IWM +0.06 points	0.17%	0.11%
Northwestern Energy GroupNWE	IWM +0.05 points	0.17%	0.12%

All 1,977 IWM holdings⁠All 1,748 SCHA holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IWM vs SCHA Cost

Overpaying IWM vs SCHA

$3,314

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IWM 0.19%
$3,952
SCHA 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IWM 0.19%
SCHA 0.03%
Overpaying

Year by year

Year	IWM	SCHA	Overpaying
10	$347	$55	$292
20	$1,351	$216	$1,135
30	$3,952	$638	$3,314

Expense ratio

0.19%IWM
0.03%SCHA, cheaper

SCHA0.03%IWM0.19%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

SCHA cheapest of 16 funds

IWM 8th cheapest of 16 funds

IWM vs SCHA Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWM 0.98%; SCHA 1.12%, better
Payout (12M): IWM $2.73; SCHA $0.37
Last payment: IWM $0.75; SCHA $0.10
Ex-dividend: IWM Sep 15, 2026; SCHA Sep 23, 2026
Paid on: IWM Sep 18, 2026; SCHA Sep 28, 2026
Frequency: IWM Quarterly; SCHA Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWMQuarterly · 39 paymentsAll IWM payments⁠

SCHAQuarterly · 40 paymentsAll SCHA payments⁠

IWM vs SCHA Risk

Fall from peak · 5 years

IWM
SCHA

Risk facts

VolatilityStd dev, 3 years: IWM 19.0%SCHA 18.6%, better
Return per unit of riskSharpe ratio, 3 years: IWM 0.85SCHA 0.88, better
Worst fallMax drawdown, 5 years: IWM −31.9%SCHA −30.8%, better
Market sensitivityBeta, 5 years: IWM 1.14SCHA 1.12; Market = 1

IWM and SCHA in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026IWMSCHA
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026IWMSCHA
Top Movers
Brazil small-cap fund falls 37% in the week Lula won again
Oct 30, 2026IWM
Head-to-Head
Hold VB over IWM for a small-cap stake
Oct 30, 2026IWM
Top Movers
Alphabet fell 12.6%, but the average stock rose
Oct 29, 2026IWM
Closing Bell
Alphabet falls 12.6% - dragging SPY into negative territory for the day
Oct 29, 2026IWM

Popular comparisons

IWMBvsVBA
iShares Russell 2000 ETF · Vanguard Morningstar Small-Cap ETF
Expense ratio
0.19% · 0.03%
Category
SCHAAvsVBA
Schwab U.S. Small-Cap ETF · Vanguard Morningstar Small-Cap ETF
Expense ratio
0.03% · 0.03%
Category
IWMBvsBKSEA
iShares Russell 2000 ETF · BNY Mellon US Small Cap Core Equity ETF
Expense ratio
0.19% · 0.04%
Category
SCHAAvsBKSEA
Schwab U.S. Small-Cap ETF · BNY Mellon US Small Cap Core Equity ETF
Expense ratio
0.03% · 0.04%
Category
IWMBvsVTWOA
iShares Russell 2000 ETF · Vanguard Russell 2000 ETF
Expense ratio
0.19% · 0.06%
Category
SCHAAvsVTWOA
Schwab U.S. Small-Cap ETF · Vanguard Russell 2000 ETF
Expense ratio
0.03% · 0.06%
Category