A head-to-head comparison of iShares Russell 2000 ETF and Defiance R2000 Enchanced Options Income ETF covering yield, cost, risk, and income potential.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
BlackRock is one of the world's largest asset managers and a major provider of ETFs across multiple investment strategies. The company's dividend-focused lineup emphasizes income-generating investments, with funds designed to deliver regular distributions to investors seeking yield. Their portfolio includes eight notable ETFs such as BALI (emerging markets income), DIVB (dividend equity), and DGRO (dividend growth), alongside complementary funds that span income, growth, and fixed-income strategies.
See our curated list of related YouTube videos on IWM.
ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.
Defiance ETFs is known for creating thematic and yield-focused investment products that target specific sectors and income strategies. The issuer operates a lineup of 18 funds concentrated primarily on income generation and leveraged income approaches, with holdings spanning commodities, technology, emerging markets, and specialized themes like ethical investing and covered call strategies. Notable tickers include QQQY (leveraged Nasdaq income), SPYT (S&P 500 yield), and GLDY (gold-focused), reflecting the firm's emphasis on combining growth exposure with dividend and options-based income enhancement.
See our curated list of related YouTube videos on IWMY.
Provide exposure to the fund's underlying index or strategy per issuer materials.
Seeks current income while maintaining exposure to the performance of the Russell 2000 Index. The fund is actively managed and designed to generate weekly cash distributions primarily from options premiums by selling daily credit call spreads on the Russell 2000 Index.
Asset class
Equity
Equity
Inception date
05/22/2000
06/26/2024
Beta
1.3
—
Last dividend
$0.44
$0.11
Ex-dividend date
03/17/2026
05/21/2026
Most used
Income calculator
See how much monthly income a hypothetical investment would generate in each ETF at current yields.
Want to go deeper?
Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — no signup required.
Projections assume the current yield and share price remain constant. Actual results will vary.
Quick verdict
IWM (iShares Russell 2000 ETF) and IWMY (Defiance R2000 Enchanced Options Income ETF) are both dividend ETFs, but they take different approaches.
IWMY offers the higher yield at 30.50% vs 0.89% for IWM. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.
IWM is cheaper with an expense ratio of 0.19% compared to 1.05%.
They track different benchmarks: IWM is linked to Russell 2000 Index while IWMY tracks IWM, which means their performance drivers differ.
IWM is the larger fund by assets ($76.9B), which generally means tighter spreads and better liquidity.
Deep dive
Yield & income
On a $10,000 investment, IWM would generate roughly $7.42/month, while IWMY would produce $254.17/month, at current distribution rates.
IWM yield0.89%
IWMY yield30.50%
Monthly diff on $10K$246.75
Cost & efficiency
Over 10 years on $10,000, IWM would cost approximately $190 in fees vs $1,050 for IWMY (simplified, not compounded). The $860.00 difference may be offset by yield or performance.
IWM ER0.19%
IWMY ER1.05%
Strategy & risk
IWM tracks Russell 2000 Index with an index approach, while IWMY tracks IWM using an options strategy.
IWM beta1.3
IWMY beta—
Fund details
IWM is managed by BlackRock (launched 05/22/2000) with $76.9B in assets. IWMY is managed by Defiance ETFs (launched 06/26/2024) with $99M in assets.
Do us a favor — if you found this comparison useful, please share it with a friend researching dividend ETFs.
Frequently asked questions
Is IWM or IWMY better for dividend income?
It depends on your goals. IWMY currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.
What is the difference between IWM and IWMY?
IWM (iShares Russell 2000 ETF) tracks Russell 2000 Index with an index strategy, while IWMY (Defiance R2000 Enchanced Options Income ETF) tracks IWM with an options approach. They are issued by BlackRock and Defiance ETFs respectively.
Can I hold both IWM and IWMY?
Yes. Many income investors hold both to diversify across different strategies and underlying indexes. This can reduce concentration risk while maintaining a strong income stream.
Which has lower fees, IWM or IWMY?
IWM has an expense ratio of 0.19% while IWMY charges 1.05%. Lower fees mean more of your investment returns stay in your pocket over time.
How much income does $10,000 in IWM vs IWMY generate?
At current rates, $10,000 in IWM would generate roughly $7.42 per month ($89.00 annually). The same in IWMY would produce about $254.17 per month ($3,050.00 annually).
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
Start a free Dividend Vision account to project monthly income, track overlap across holdings, and compare these funds against anything else in your portfolio.
