IWM ETF tracks the results of the Russell 2000 ETF Small Cap Stocks index. These are the options trading strategies I use for selling options for income. IWM ETF was created by iShares to follow the Russell 2000 Index Fund. IWM is highly liquid and used by day traders and investors to trade within small capital and medium capital stocks. IWM is the second most traded exchange traded fund in the world. It was started May 22 2000.