Relative Intelligence · US Large-Cap Growth
How iShares S&P 500 Growth ETF (IVW) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IVW alone. It places IVW (iShares S&P 500 Growth ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where IVW stands in the market, and of the alternatives worth a closer look.
Period covered: IVW's full trading record, from May 2000 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 20, 2026.
Data as of October 20, 2026. Full tables and charts read best on a larger screen.
On this page12 sections
Key findings
- What you're buyingIVW's 0.18% fee costs about $300 more than VUG's 0.03% on $10,000 over 20 years, for a fund that tracks the same thing. IVW is a technology bet first: 54% of assets, versus 38% in the S&P 500. Better options ↓
- Right nowAfter a 22.2% loss from February 2025 to April 2025, IVW has bounced 23.0% off the low. Both IVW and the S&P 500 are within a few percent of a record high. At a glance ↓
- Fund or market?IVW rose 4.0% over the past 3 months, in line with the US large-cap growth ETF VUG (Vanguard Morningstar Growth ETF), which rose 4.0%. The S&P 500 rose 3.9%.
- Long termOver the past decade, IVW returned 17.8% a year against 15.5% a year for the S&P 500 (413% in total against 321%). IVW's 10-year return of 413% puts it ahead of 96% of the ETFs with at least $100 million in assets with that much history. The S&P 500 returned 321%. Growth of $10,000 ↓
- In a crashThe 2022 bear market took 31.3% off IVW, against 24.5% for the S&P 500. That was more than DYNF (iShares U.S. Equity Factor Rotation Active ETF, 26.0%) but less than QQQ (Invesco QQQ Trust, Series 1, 33.4%). IVW fell further than the S&P 500 in two of the last three sell-offs, including the 2022 bear market (31.3% against 24.5%). Crash tests ↓
- DiversificationAgainst the S&P 500, IVW has a correlation of 0.95 over 5 years, more closely than 91% of ETFs with at least $100 million in assets. Next to an index fund it is more of the same, not a cushion. When the S&P 500 had a down month, IVW usually fell with it (18 of 22 months). By year ↓
- Better options
- Nearby categories and themes
- VLUE (iShares MSCI USA Value Factor ETF, US large-cap value) and PVAL (Putnam Focused Large Cap Value ETF, US large-cap value) earned more than IVW with less volatility over the past 5 years. VLUE returned 15.9% a year at 18.4% volatility, against 13.1% a year at 21.5%.
- Versus the S&P 500
- The S&P 500 matched IVW's return over the past 5 years (12.7% a year against 13.1%) with 20% less volatility.
- Whole market
- Few investments have done better on both counts: only 48 of the 3,633 stocks and funds worth at least $500 million earned more than IVW with less volatility over the past 5 years, among them KO (Coca-Cola), RY (Royal Bank of Canada) and TD (Toronto-Dominion Bank).
How much would $10,000 in IVW have grown?
This chart tracks a hypothetical $10,000 investment in IVW over the past 22 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IVW over the same span and IVW's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.
Note: The chart covers the past 22 years rather than IVW's full 26 years, because most of its popular alternatives have not traded that long.
- $10,000 invested in IVW at the end of September 2004 would have grown to $139,196 by September 2026, more than the $102,174 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of IVW, and QQQ finished highest, at $249,744.
Choose a period
From the end of September 2004 to the end of September 2026. The scale is logarithmic, so equal steps up the chart are equal percentage gains. Hover over a fund in the key to pick out its line. 321 of the 1,487 stocks and funds worth at least $500 million that traded the whole period ended ahead of IVW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- QQQ$249,744+2,397% total · +15.8% a year
- RY$189,945+1,799% total · +14.3% a year
- TD$150,409+1,404% total · +13.1% a year
- VUG$143,718+1,337% total · +12.9% a year
- SPYG$142,455+1,325% total · +12.8% a year
- IVW$139,196+1,292% total · +12.7% a year
- SPY (S&P 500)$102,174+922% total · +11.1% a year
- RSP$88,595+786% total · +10.4% a year
- VO$86,371+764% total · +10.3% a year
- IVE$65,276+553% total · +8.9% a year
From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 796 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of IVW; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- SPMO$26,579+166% total · +21.6% a year
- RY$23,646+136% total · +18.8% a year
- VLUE$22,395+124% total · +17.5% a year
- PVAL$21,761+118% total · +16.8% a year
- QQQ$21,295+113% total · +16.3% a year
- DYNF$21,051+111% total · +16.1% a year
- MGK$20,216+102% total · +15.1% a year
- IVW$19,882+98.8% total · +14.7% a year
- IWY$19,869+98.7% total · +14.7% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
IVW at a glance
This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.
- IVW's deepest decline since it began trading in 2000 was 57.4%, from July 2000 to March 2009. It took about four years from the low to climb back to its old high.
- Over 25 full calendar years, IVW's best was 2024, when it returned 35.8%, and its worst was 2008, when it lost 34.8%. It lost money in five of those years.
- IVW is 4.2% below its all-time high.
The fund
- Issuer
- IShares
- Began trading
- May 2000
- Expense ratio
- 0.18%per year
- Assets
- $77B
- Category
- Broad Market
Returns
- Past 1 year
- +15.7%total return
- Past 3 years
- +109%+27.9% a year
- Past 5 years
- +85.3%+13.1% a year
- Past 10 years
- +413%+17.8% a year
- Best calendar year
- +35.8%2024
- Worst calendar year
- −34.8%2008
- Losing years
- 5 of 25full calendar years
Risk
- Volatility
- 21.5%typical yearly swing, 5 years
- Sharpe ratio
- 0.68return per unit of risk, 5 years
- Worst decline ever
- −57.4%Jul 2000 to Mar 2009
- From its all-time high
- −4.2%below the peak
IVW against the whole market
Where IVW ranks among every stock and fund, and what across the market has done better.
How does IVW rank among all ETFs?
This section ranks IVW on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how IVW stacks up against its peers, these rankings show where it stands in the market as a whole.
- IVW's 10-year return ranks in the top 4% of the 958 ETFs with at least $100 million in assets with 10 years of history.
- IVW is among the more volatile ETFs: its price swings rank in the bottom 21% of the 1,560 ETFs with at least $100 million in assets, where the top is the calmest.
Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.
| Measure | IVW | Rank | Standing |
|---|---|---|---|
| 1-year return | +15.7% | 745 of 2,485 | top 30% |
| 3-year return | +109% | 158 of 1,949 | top 8% |
| 5-year return | +85.3% | 207 of 1,560 | top 13% |
| 10-year return | +413% | 38 of 958 | top 4% |
| Volatility, 5 years | 21.5% | 1,227 of 1,560 | bottom 22% |
| Sharpe ratio, 5 years | 0.68 | 566 of 1,560 | top 36% |
| Worst decline, past 10 years | −32.7% | 246 of 951 | top 26% |
What has beaten IVW on both return and risk?
Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). IVW sits where the dashed lines cross. Anything in the green box above and to the left earned more than IVW with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.
- Nine stocks and 39 ETFs worth at least $500 million sit in the green region: each earned more than IVW over the past 5 years with smaller price swings. That is 1% of the 3,633 screened. Few investments beat it on both counts.
- Among those with at least half IVW's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 49% less than IVW's 21.5%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.68 for IVW. DXJ earned the most, 26.6% a year, while still swinging less than IVW (19.1% against 21.5%).
- Among IVW's popular alternatives, DYNF is in the region. DYNF earned 14.7% a year against 13.1% a year for IVW, at 17.5% volatility, 18% less than IVW's 21.5%.
Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to IVW; faint dots are 25 more of the 48 in the green region (the strongest, one per fund family). 3,633 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.
- Popular alternatives
- Same and neighboring categories, and shared themes
- The whole market
- Others in the green region
Is there a better investment than IVW?
Investments that beat IVW over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among IVW's popular alternatives, DYNF earned more than IVW with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 13.1% a year at 21.5%.
- A cheaper fund that has kept up over the past decade is VUG (0.03% a year against 0.18%).
- Looking beyond its popular alternatives, VLUE (US large-cap value) and PVAL (US large-cap value) earned more than IVW with less volatility over the past 5 years. VLUE returned 15.9% a year at 18.4% volatility, against 13.1% a year at 21.5%.
How this works
The table below lists investments that beat IVW over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks IVW's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than IVW follows the table.
Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than IVW's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× IVW's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than IVW's.
| Investment | Why it is better | Past 5 years | Downside | Long run | Fit | ||||
|---|---|---|---|---|---|---|---|---|---|
| Annual return?higher is better | Volatility?lower is calmer | Sharpe?return per unit of risk | Worst decline?past 10 years | 10Y returntotal | Corr. with IVW?lower diversifies more | Expenseper year | |||
| IVWiShares S&P 500 Growth ETF · this page | +13.1% | 21.5% | 0.68 | −32.7% | +413% | 1.00 | 0.18% | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.95 | 0.09% | ||
| Popular alternativesbest 4 shownThe investments people most often weigh against IVW. 11 of 22 passed at least one test. | |||||||||
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity | Higher return, similar volatilityHigher return in most periods | +18.7% | 20.8% | 0.93 | −30.9% | +499% | 0.84 | 0.13% | |
 DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Higher return, lower volatility | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.95 | 0.26% | |
 VUGVanguard Morningstar Growth ETF · US Large-Cap Growth | Same exposure, lower expense ratio | +12.3% | 22.5% | 0.63 | −35.6% | +419% | 0.99 | 0.03% | |
| SPYState Street SPDR S&P 500 ETF · US Large-Cap Equity | Similar return, lower volatility | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.95 | 0.09% | |
| Same and neighboring categories, and shared themesbest 6 shownEverything else in US Large-Cap Growth and US Large-Cap Equity and the categories next to it (US Growth Equity, US Large-Cap Value, US Mid-Cap Equity, US Total Market, US Quality Equity), plus IVW's specific themes. 18 of 64 passed at least one test. | |||||||||
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Higher return, lower volatilityHigher return in most periods | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.72 | 0.15% | |
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.74 | 0.15% | |
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Higher return, lower volatility | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.72 | 0.56% | |
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Similar return, lower volatility | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.65 | 0.05% | |
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Similar return, lower volatility | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.76 | 0.39% | |
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Similar return, lower volatility | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.89 | 0.12% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 228 of 3,548 passed at least one test. | |||||||||
 RYRoyal Bank of Canada · Banks | On the frontierHigher return, lower volatilityHigher return in most periods | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.47 | — | |
DXJWisdomTree Japan Hedged Equity Fund · International Equity | On the frontierHigher return, lower volatilityHigher return in most periods | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.46 | 0.48% | |
 TDThe Toronto-Dominion Bank · Banks | Higher return, lower volatilityHigher return in most periods | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.44 | — | |
 GLDSPDR Gold Shares · Gold | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.08 | 0.40% | |
 ABBVAbbVie Inc. · Pharmaceuticals | Higher return, similar volatilityHigher return in most periods | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.07 | — | |
AVIVAvantis International Large Cap Value ETF · International | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +12.6% | 16.7% | 0.80 | −27.7% | — | 0.54 | 0.25% | |
ILCGiShares Morningstar Growth ETF · Broad Market | Same exposure, lower expense ratio | +11.2% | 22.4% | 0.59 | −35.4% | +403% | 0.99 | 0.04% | |
BFCBank First Corporation · Banks - Regional | Smaller losses in recent crashes | +19.0% | 27.3% | 0.78 | −39.8% | +496% | 0.21 | — | |
What these numbers mean for IVW
- Annual return
- IVW returned 13.1% a year over the past 5 years with dividends reinvested, against 12.7% a year for the S&P 500. At that pace, $10,000 became about $18,500. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
- Volatility
- IVW's volatility over the past 5 years was 21.5%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IVW's return lands within 21.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
- Sharpe ratio
- IVW's Sharpe ratio over the past 5 years was 0.68, against 0.79 for the S&P 500, so IVW earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
- Worst decline
- IVW's worst fall from a peak to a low over the past 10 years was 32.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 32.7% fall takes a 48.6% gain. Guide: Market crash risk and tail risk →
- Correlation
- Over the past 5 years, IVW's monthly returns had a correlation of 0.95 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IVW instead: the lower it is, the more that option would diversify a IVW holding. Guide: Correlation and diversification →
Show all 48 stocks and funds worth at least $500 million that earned more than IVW with less volatility
Out of 3,633 tested over 5 years. The strongest 32 are listed, best first, with funds that hold the same thing listed once.
| # | Investment | Found in | Annual return | Volatility | Sharpe | Worst decline | 10Y return | Corr. with IVW | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.47 | — |
| 2 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.46 | 0.48% |
| 3 | TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.44 | — |
| 4 | GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.08 | 0.40% |
| 5 | DFIVDimensional - International Value ETF · International Equity | Whole market | +14.8% | 16.4% | 0.93 | −25.4% | — | 0.48 | 0.27% |
| 6 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Same or nearby category | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.72 | 0.15% |
| 7 |  MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.29 | — |
| 8 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.80 | 0.70% |
| 9 | GVALCambria Global Value ETF · International | Whole market | +14.4% | 18.7% | 0.82 | −46.8% | +173% | 0.43 | 0.68% |
| 10 | FFLCFidelity Fundamental Large Cap Core ETF · Broad Market | Whole market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.84 | 0.38% |
| 11 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.34 | 0.40% |
| 12 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.14 | — |
| 13 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.08 | — |
| 14 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.4% | 17.1% | 0.98 | −58.1% | +178% | 0.25 | — |
| 15 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds | Whole market | +20.6% | 18.4% | 1.12 | −45.7% | — | 0.02 | 0.80% |
| 16 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.30 | — |
| 17 | LLoews Corporation · Property & Casualty Insurance | Whole market | +14.3% | 19.2% | 0.80 | −48.5% | +180% | 0.25 | — |
| 18 | NINiSource Inc · Gas Utilities | Whole market | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.33 | — |
| 19 | AMLPAlerian MLP ETF · Energy Equity | Whole market | +16.1% | 18.9% | 0.89 | −72.9% | +91.0% | 0.29 | 1.01% |
| 20 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.93 | 0.40% |
| 21 | ITAiShares U.S. Aerospace & Defense ETF · Aerospace & Defense | Whole market | +14.6% | 20.4% | 0.78 | −51.0% | +258% | 0.46 | 0.37% |
| 22 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure | Whole market | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.43 | 0.95% |
| 23 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.72 | 0.56% |
| 24 | OEFiShares S&P 100 ETF · US Large-Cap Equity | Same or nearby category | +14.3% | 17.8% | 0.84 | −31.4% | +367% | 0.98 | 0.20% |
| 25 | MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy | Whole market | +18.6% | 19.7% | 0.97 | −64.6% | +186% | 0.34 | 0.45% |
| 26 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.98 | 0.45% |
| 27 | EWPiShares MSCI Spain ETF · Broad Market | Whole market | +19.2% | 20.3% | 0.97 | −46.4% | +196% | 0.38 | 0.50% |
| 28 | IUSInvesco RAFI Strategic US ETF · Broad Market | Whole market | +14.7% | 14.9% | 1.00 | −34.7% | — | 0.81 | 0.19% |
| 29 | VFMFVanguard U.S. Multifactor ETF · Broad Market | Whole market | +14.3% | 17.6% | 0.85 | −41.3% | — | 0.68 | 0.18% |
| 30 | DBJPXtrackers MSCI Japan Hedged Equity ETF · International | Whole market | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.60 | 0.45% |
| 31 | EWJViShares MSCI Japan Value ETF · International | Whole market | +14.9% | 18.2% | 0.86 | −30.1% | — | 0.43 | 0.15% |
| 32 | IDOGALPS International Sector Dividend Dogs ETF · International | Whole market | +14.1% | 15.6% | 0.93 | −37.3% | +180% | 0.41 | 0.50% |
IVW against its popular alternatives
The investments people most often weigh against IVW, compared period by period and year by year.
How do IVW's risk and return compare with its alternatives?
This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at IVW, which divides the map into what did better or worse on each measure.
- Only SPMO and DYNF were both more rewarding and calmer than IVW over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, IVW returned 13.1% a year, more than the S&P 500's 12.7%, with higher volatility (21.5% against 17.1%).
Green points earned more than IVW with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.
All figures
| Investment | Annual return | Volatility |
|---|---|---|
| SPMO Invesco S&P 500 Momentum ETF | +18.7% | 20.8% |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | +14.7% | 17.5% |
| QQQ Invesco QQQ Trust, Series 1 | +14.5% | 23.0% |
| MGK Vanguard Morningstar Mega Cap Growth ETF | +13.5% | 23.0% |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | +13.3% | 21.5% |
| SCHG Schwab U.S. Large-Cap Growth ETF | +13.2% | 22.4% |
| IVW This pageiShares S&P 500 Growth ETF | +13.1% | 21.5% |
| IWY iShares Russell Top 200 Growth ETF | +13.0% | 21.9% |
| IUSG iShares Core S&P U.S. Growth ETF | +12.9% | 21.2% |
| SPY S&P 500State Street SPDR S&P 500 ETF | +12.7% | 17.1% |
| FBCG Fidelity Blue Chip Growth ETF | +12.3% | 26.1% |
| VUG Vanguard Morningstar Growth ETF | +12.3% | 22.5% |
| VONG Vanguard Russell 1000 Growth ETF | +11.9% | 21.7% |
| IVE iShares S&P 500 Value ETF | +11.2% | 14.2% |
| FDG American Century Focused Dynamic Growth ETF | +8.8% | 25.2% |
| TCHP T. Rowe Price Blue Chip Growth ETF | +8.4% | 23.7% |
| RSP Invesco S&P 500 Equal Weight ETF | +8.2% | 16.1% |
| RPG Invesco S&P 500 Pure Growth ETF | +7.0% | 24.6% |
| VO Vanguard Morningstar Mid-Cap ETF | +6.8% | 17.6% |
| VBK Vanguard Morningstar Small-Cap Growth ETF | +3.2% | 23.7% |
Has IVW consistently beaten its popular alternatives?
This section compares IVW with the investments people most often weigh against it, checking each one over eight periods from one month to ten years. Counting how often an alternative earned more than IVW helps separate lasting outperformance from a single strong stretch.
- Two of the 23 popular alternatives, SPMO and QQQ, outperformed IVW in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SPMO and SPYG earned more for the risk they took than IVW (a higher Sharpe ratio) and fell less in their worst decline of the past 10 years.
A green cell means the alternative earned more than IVW over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 3 long-term periods.
| Investment | Periods outperformed | Short term | Long term | Risk · 5 years | Fund | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1M | 3M | 6M | YTD | 1Y | 3Y | 5Y | 10Y | Volatilitylower is calmer | Sharpehigher is better | Worst declinepast 10 years | Expense | Assets | Overlapsame sectors | ||
| IVW iShares S&P 500 Growth ETF (this page) | — | −2.4% | +4.0% | +9.8% | +13.8% | +15.7% | +109% | +85.3% | +413% | 21.5% | 0.68 | −32.7% | 0.18% | $77B | — |
| SPMO QualifiedInvesco S&P 500 Momentum ETF | 3/5 short3/3 long | −6.7% | −1.6% | +11.6% | +19.3% | +18.1% | +156% | +136% | +499% | 20.8% | 0.93 | −30.9% | 0.13% | $22B | 84% |
| QQQ QualifiedInvesco QQQ Trust, Series 1 | 3/5 short2/3 long | −3.2% | +3.2% | +11.2% | +17.4% | +17.9% | +106% | +97.2% | +553% | 23.0% | 0.71 | −35.1% | 0.18% | $492B | 86% |
| MGK TechnologyVanguard Morningstar Mega Cap Growth ETF | 1/5 short2/3 long | −2.6% | +4.7% | +9.8% | +10.8% | +11.9% | +104% | +88.2% | +464% | 23.0% | 0.67 | −36.0% | 0.05% | $35B | 89% |
| QQQM Broad MarketInvesco NASDAQ 100 ETF | 3/5 short1/3 long | −3.2% | +3.3% | +11.2% | +17.5% | +18.0% | +106% | +98.0% | — | 22.9% | 0.71 | −35.0% | 0.15% | $110B | 86% |
| DYNF Broad MarketiShares U.S. Equity Factor Rotation Active ETF | 1/5 short1/3 long | −1.9% | +3.4% | +9.1% | +14.1% | +17.1% | +106% | +98.5% | — | 17.5% | 0.87 | −34.7% | 0.26% | $42B | 80% |
| IWY Broad MarketiShares Russell Top 200 Growth ETF | 0/5 short1/3 long | −3.1% | +3.1% | +4.0% | +4.7% | +4.7% | +90.1% | +83.8% | +466% | 21.9% | 0.67 | −32.7% | 0.20% | $16B | 94% |
| SCHG Broad MarketSchwab U.S. Large-Cap Growth ETF | 0/5 short1/3 long | −1.9% | +4.2% | +9.4% | +9.7% | +10.4% | +99.2% | +85.4% | +451% | 22.4% | 0.67 | −34.5% | 0.04% | $63B | 95% |
| FBCG Broad MarketFidelity Blue Chip Growth ETF | 0/5 short1/3 long | −4.2% | +1.7% | +6.0% | +11.1% | +14.0% | +114% | +78.6% | — | 26.1% | 0.58 | −43.5% | 0.57% | $7.6B | 92% |
| FDG Broad MarketAmerican Century Focused Dynamic Growth ETF | 0/5 short1/3 long | −3.5% | +2.0% | +0.8% | +3.2% | +5.4% | +113% | +52.4% | — | 25.2% | 0.46 | −43.7% | 0.45% | $457M | 78% |
| SPY Broad MarketState Street SPDR S&P 500 ETF | 1/5 short0/3 long | −0.6% | +3.9% | +9.1% | +13.5% | +15.8% | +89.3% | +81.7% | +321% | 17.1% | 0.79 | −33.7% | 0.09% | $823B | 79% |
| RPG Broad MarketInvesco S&P 500 Pure Growth ETF | 1/5 short0/3 long | −6.2% | −2.9% | +2.1% | +16.2% | +15.6% | +85.3% | +40.0% | +250% | 24.6% | 0.40 | −36.6% | 0.35% | $1.8B | 82% |
| IVE Broad MarketiShares S&P 500 Value ETF | 1/5 short0/3 long | +1.6% | +3.7% | +8.1% | +12.8% | +15.7% | +66.3% | +70.3% | +212% | 14.2% | 0.82 | −37.0% | 0.18% | $50B | 54% |
| RSP Broad MarketInvesco S&P 500 Equal Weight ETF | 1/5 short0/3 long | +1.5% | +2.0% | +6.7% | +13.3% | +15.5% | +65.4% | +48.6% | +211% | 16.1% | 0.57 | −39.0% | 0.20% | $98B | 53% |
| VO Broad MarketVanguard Morningstar Mid-Cap ETF | 1/5 short0/3 long | +0.8% | +1.6% | +5.7% | +11.8% | +12.4% | +68.9% | +39.1% | +198% | 17.6% | 0.47 | −39.4% | 0.03% | $217B | 50% |
| VONG Broad MarketVanguard Russell 1000 Growth ETF | 0/5 short0/3 long | −3.0% | +2.6% | +3.4% | +4.2% | +4.1% | +88.3% | +75.1% | +422% | 21.7% | 0.63 | −32.7% | 0.06% | $56B | 95% |
| VUG Broad MarketVanguard Morningstar Growth ETF | 0/5 short0/3 long | −2.5% | +4.0% | +8.2% | +9.8% | +10.2% | +100% | +78.6% | +419% | 22.5% | 0.63 | −35.6% | 0.03% | $392B | 92% |
| SPYG Broad MarketState Street SPDR Portfolio S&P 500 Growth ETF | 0/5 short0/3 long | −2.4% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.5% | +418% | 21.5% | 0.69 | −32.7% | 0.04% | $57B | 99% |
| IWF Broad MarketiShares Russell 1000 Growth ETF | 0/5 short0/3 long | −3.0% | +2.6% | +3.3% | +4.1% | +4.0% | +87.7% | +74.1% | +416% | 21.8% | 0.62 | −32.7% | 0.18% | $125B | 95% |
| VOOG Broad MarketVanguard S&P 500 Growth ETF | 0/5 short0/3 long | −2.3% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.0% | +416% | 21.6% | 0.69 | −32.7% | 0.07% | $28B | 99% |
| IUSG Broad MarketiShares Core S&P U.S. Growth ETF | 0/5 short0/3 long | −2.3% | +3.8% | +9.4% | +13.9% | +15.9% | +107% | +83.7% | +405% | 21.2% | 0.68 | −32.4% | 0.04% | $33B | 98% |
| VBK Broad MarketVanguard Morningstar Small-Cap Growth ETF | 0/5 short0/3 long | −2.6% | −3.0% | −1.5% | +8.7% | +9.7% | +66.3% | +17.3% | +177% | 23.7% | 0.25 | −38.7% | 0.05% | $43B | 60% |
| CGGR Broad MarketCapital Group Growth ETF | 0/5 short0/3 long | −2.2% | +3.9% | +5.7% | +5.7% | +5.8% | +97.0% | — | — | — | — | −28.9% | 0.39% | $26B | 84% |
| TCHP Broad MarketT. Rowe Price Blue Chip Growth ETF | 0/5 short0/3 long | −2.8% | +2.7% | +1.3% | +1.5% | +2.4% | +86.0% | +49.8% | — | 23.7% | 0.46 | −42.3% | 0.57% | $2.1B | 94% |
How did IVW do year by year?
This table shows each investment's total return in every full calendar year since 2001, along with where IVW ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IVW and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- IVW finished ahead of the S&P 500 in 13 of its 25 full calendar years, and ahead of it in each of the last three.
- Ranked against its popular alternatives each year, IVW finished in the top quarter in eight of 25 years and in the bottom quarter in four. In 2025, it ranked 4 of 20.
- Among its popular alternatives, VBK came out ahead of IVW most often, in 11 of the 21 years both traded.
Newest year first. Green marks a year in which the fund came out ahead of IVW; gray means the two finished within a fraction of a point. The rank row places IVW among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of IVW | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IVW This pageiShares S&P 500 Growth ETF | — | +21.9% | +35.8% | +29.8% | −29.5% | +31.8% | +33.2% | +30.8% | −0.2% | +27.3% | +6.8% | +5.4% | +14.7% | +32.5% | +14.3% | +4.4% | +14.9% | +31.2% | −34.8% | +8.5% | +11.0% | +4.0% | +5.7% | +25.3% | −23.5% | −12.4% |
| Rank among alternatives | Top quarter in 8 of 25 | 4 of 20 | 6 of 20 | 13 of 20 | 11 of 19 | 2 of 19 | 9 of 16 | 11 of 15 | 3 of 15 | 9 of 15 | 12 of 15 | 4 of 14 | 5 of 14 | 11 of 14 | 13 of 14 | 3 of 14 | 11 of 13 | 10 of 11 | 1 of 11 | 6 of 10 | 5 of 9 | 7 of 9 | 5 of 6 | 5 of 5 | 2 of 5 | 2 of 5 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 9 of 25 | +17.7% | +24.9% | +26.2% | −18.2% | +28.7% | +18.3% | +31.2% | −4.6% | +21.7% | +12.0% | +1.2% | +13.5% | +32.3% | +16.0% | +1.9% | +15.1% | +26.4% | −36.8% | +5.1% | +15.9% | +4.8% | +10.7% | +28.2% | −21.6% | −11.7% |
| SPMO Invesco S&P 500 Momentum ETF | 4 of 10 | +26.6% | +45.8% | +17.6% | −10.4% | +22.7% | +28.2% | +25.9% | −0.9% | +27.8% | +7.4% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| QQQ Invesco QQQ Trust, Series 1 | 13 of 25 | +20.8% | +25.6% | +54.9% | −32.6% | +27.4% | +48.6% | +39.0% | −0.1% | +32.7% | +7.1% | +9.4% | +19.2% | +36.6% | +18.1% | +3.4% | +19.9% | +54.7% | −41.7% | +19.0% | +7.2% | +1.6% | +10.5% | +49.7% | −37.4% | −33.4% |
| MGK Vanguard Morningstar Mega Cap Growth ETF | 6 of 18 | +20.7% | +32.9% | +51.7% | −33.6% | +28.6% | +40.9% | +37.4% | −2.9% | +29.6% | +6.6% | +3.7% | +13.6% | +32.6% | +17.3% | +3.2% | +14.6% | +34.8% | −36.3% | — | — | — | — | — | — | — |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | 2 of 6 | +20.0% | +30.3% | +36.2% | −20.3% | +24.9% | +13.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| IWY iShares Russell Top 200 Growth ETF | 5 of 16 | +18.2% | +34.9% | +46.5% | −29.9% | +31.1% | +39.0% | +36.2% | −0.7% | +31.7% | +6.9% | +7.9% | +13.4% | +32.4% | +14.6% | +4.6% | +11.9% | — | — | — | — | — | — | — | — | — |
| SCHG Schwab U.S. Large-Cap Growth ETF | 8 of 16 | +17.4% | +34.9% | +50.1% | −31.8% | +28.1% | +39.1% | +35.9% | −1.3% | +27.4% | +8.9% | +3.4% | +15.9% | +34.4% | +16.5% | −0.6% | +16.6% | — | — | — | — | — | — | — | — | — |
| FBCG Fidelity Blue Chip Growth ETF | 2 of 5 | +18.6% | +39.0% | +58.0% | −39.1% | +21.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| FDG American Century Focused Dynamic Growth ETF | 2 of 5 | +22.1% | +45.9% | +37.2% | −35.7% | +8.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| RPG Invesco S&P 500 Pure Growth ETF | 5 of 19 | +13.4% | +28.2% | +8.0% | −27.6% | +29.4% | +29.3% | +28.3% | −4.5% | +26.3% | +4.1% | +2.2% | +13.9% | +43.6% | +14.9% | +0.4% | +26.9% | +49.5% | −38.8% | +6.4% | — | — | — | — | — | — |
| IVE iShares S&P 500 Value ETF | 9 of 25 | +13.0% | +12.0% | +22.1% | −5.4% | +24.7% | +1.2% | +31.6% | −9.2% | +15.2% | +17.3% | −3.3% | +12.2% | +31.6% | +17.6% | −0.7% | +15.0% | +20.9% | −38.9% | +1.5% | +20.6% | +5.7% | +15.6% | +31.0% | −20.8% | −11.5% |
| RSP Invesco S&P 500 Equal Weight ETF | 9 of 22 | +11.2% | +12.8% | +13.7% | −11.6% | +29.4% | +12.7% | +28.9% | −7.8% | +18.5% | +14.5% | −1.7% | +15.1% | +36.7% | +18.6% | +0.2% | +21.5% | +44.7% | −40.0% | +0.9% | +15.5% | +7.4% | +16.5% | — | — | — |
| VO Vanguard Morningstar Mid-Cap ETF | 8 of 21 | +11.6% | +15.3% | +16.0% | −18.8% | +24.7% | +18.1% | +30.9% | −9.2% | +19.3% | +11.2% | −1.3% | +13.8% | +35.1% | +16.2% | −2.0% | +25.5% | +40.6% | −41.6% | +5.5% | +14.0% | +13.9% | — | — | — | — |
| VONG Vanguard Russell 1000 Growth ETF | 5 of 15 | +18.4% | +33.2% | +42.7% | −29.2% | +27.6% | +38.3% | +36.0% | −1.6% | +30.1% | +7.0% | +5.6% | +12.9% | +33.2% | +15.2% | +2.4% | — | — | — | — | — | — | — | — | — | — |
| VUG Vanguard Morningstar Growth ETF | 8 of 21 | +19.4% | +32.7% | +46.8% | −33.1% | +27.4% | +40.2% | +37.0% | −3.3% | +27.8% | +6.2% | +3.3% | +13.6% | +32.6% | +17.1% | +1.8% | +17.1% | +36.3% | −38.0% | +12.8% | +9.0% | +4.8% | — | — | — | — |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 4 of 25 | +22.1% | +36.0% | +30.0% | −29.4% | +32.0% | +33.4% | +30.8% | −0.1% | +27.3% | +6.9% | +5.1% | +14.8% | +32.5% | +14.3% | +4.6% | +16.3% | +37.0% | −37.4% | +10.9% | +9.0% | +2.8% | +5.4% | +28.4% | −32.1% | −25.9% |
| IUSG iShares Core S&P U.S. Growth ETF | 9 of 25 | +21.2% | +34.7% | +29.3% | −28.8% | +31.3% | +32.6% | +30.6% | −0.8% | +27.0% | +7.3% | +5.0% | +12.4% | +34.0% | +14.9% | +1.9% | +17.3% | +36.8% | −38.6% | +11.3% | +9.3% | +5.1% | +6.4% | +30.3% | −28.0% | −20.7% |
| VBK Vanguard Morningstar Small-Cap Growth ETF | 11 of 21 | +8.5% | +16.5% | +21.4% | −28.4% | +5.7% | +35.4% | +32.7% | −5.7% | +21.9% | +10.9% | −2.6% | +4.0% | +38.3% | +17.8% | −1.6% | +31.0% | +42.8% | −40.3% | +9.9% | +12.2% | +8.6% | — | — | — | — |
| CGGR Capital Group Growth ETF | 1 of 3 | +19.8% | +32.1% | +42.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| TCHP T. Rowe Price Blue Chip Growth ETF | 1 of 5 | +18.4% | +36.1% | +50.1% | −37.8% | +18.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How IVW has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.
What were IVW's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents IVW's five deepest drawdowns since it began trading in 2000, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.
- In four of IVW's five worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after IVW fell 57.4% from July 2000 to March 2009; it did not regain that peak until February 2013, four years later.
Green means IVW fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | IVW fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −57.4% | −47.7% | Jul 2000 | Mar 2009 | 8.7 years | Feb 2013 | 3.9 years |
| 2022 bear market | −32.7% | −24.2% | Dec 2021 | Oct 2022 | 10 months | Mar 2024 | 17 months |
| Covid crash | −31.4% | −33.7% | Feb 2020 | Mar 2020 | 1 month | Jun 2020 | 3 months |
| No named crash | −22.2% | −18.8% | Feb 2025 | Apr 2025 | 2 months | Jun 2025 | 2 months |
| Late-2018 sell-off | −20.6% | −19.2% | Oct 2018 | Dec 2018 | 2 months | Apr 2019 | 4 months |
How did IVW do in stock market crashes?
This section measures how far IVW, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.
Note: IVW began trading on May 26, 2000, so its row reads "Not yet trading" for the dot-com bust. The older alternatives and the S&P 500 show how those crashes played out.
- None of its popular alternatives fell less than IVW in most of the crashes they both traded through.
- IVW fell less than the S&P 500 in three of the nine crashes it has traded through. The clearest case was the 2008 financial crisis, when IVW fell 49.4% and the S&P 500 fell 55.2%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than IVW.
| Investment | Held up better | 2023 regional bank crisisMar 2023 | 2022 bear marketJan 2022 | Covid crashFeb 2020 | Late-2018 sell-offSep 2018 | February 2018 volatility shockFeb 2018 | 2015 China and oil sell-offAug 2015 | 2011 euro debt crisisJul 2011 | 2010 flash crashMay 2010 | 2008 financial crisisOct 2007 | Dot-com bustMar 2000 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IVW This pageiShares S&P 500 Growth ETF | — | −3.0% | −31.3% | −31.4% | −20.6% | −6.5% | −13.3% | −16.4% | −1.9% | −49.4% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 2 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| SPMO Invesco S&P 500 Momentum ETF | 2 of 5 | −2.4% | −22.7% | −30.9% | −23.4% | −6.7% | — | — | — | — | — |
| QQQ Invesco QQQ Trust, Series 1 | 1 of 9 | −3.1% | −33.4% | −28.6% | −22.7% | −6.8% | −16.1% | −16.1% | −2.5% | −53.4% | −83.0% |
| MGK Vanguard Morningstar Mega Cap Growth ETF | 0 of 8 | −3.3% | −33.9% | −31.2% | −22.6% | −6.3% | −15.0% | −16.8% | −2.0% | — | — |
| DYNF iShares U.S. Equity Factor Rotation Active ETF | 1 of 3 | −3.6% | −26.0% | −34.7% | — | — | — | — | — | — | — |
| IWY iShares Russell Top 200 Growth ETF | 3 of 8 | −3.1% | −31.5% | −30.8% | −22.2% | −6.5% | −12.3% | −15.8% | −2.3% | — | — |
| SCHG Schwab U.S. Large-Cap Growth ETF | 0 of 8 | −3.6% | −32.2% | −32.3% | −21.6% | −6.4% | −16.2% | −20.2% | −1.8% | — | — |
| FBCG Fidelity Blue Chip Growth ETF | 0 of 2 | −4.6% | −38.8% | — | — | — | — | — | — | — | — |
| FDG American Century Focused Dynamic Growth ETF | 0 of 2 | −4.4% | −37.3% | — | — | — | — | — | — | — | — |
| RPG Invesco S&P 500 Pure Growth ETF | 0 of 9 | −4.7% | −31.3% | −36.6% | −22.4% | −6.9% | −18.9% | −21.4% | −2.7% | −53.3% | — |
| IVE iShares S&P 500 Value ETF | 3 of 9 | −4.3% | −18.0% | −36.8% | −18.5% | −6.4% | −12.8% | −19.5% | −1.2% | −61.3% | — |
| RSP Invesco S&P 500 Equal Weight ETF | 2 of 9 | −5.4% | −21.4% | −39.0% | −19.8% | −6.1% | −14.8% | −21.3% | −1.6% | −59.1% | — |
| VO Vanguard Morningstar Mid-Cap ETF | 2 of 9 | −5.8% | −25.0% | −39.4% | −21.2% | −5.8% | −18.8% | −23.4% | −2.4% | −58.3% | — |
| VONG Vanguard Russell 1000 Growth ETF | 0 of 7 | −3.5% | −31.2% | −31.7% | −22.0% | −6.4% | −13.4% | −17.8% | — | — | — |
| VUG Vanguard Morningstar Growth ETF | 0 of 9 | −3.5% | −33.7% | −31.8% | −22.3% | −6.2% | −15.2% | −18.3% | −2.0% | −50.7% | — |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0 of 9 | −3.0% | −31.3% | −31.3% | −20.6% | −6.4% | −13.4% | −16.3% | −2.6% | −51.3% | — |
| IUSG iShares Core S&P U.S. Growth ETF | 0 of 9 | −3.0% | −30.8% | −32.4% | −20.7% | −6.5% | −14.1% | −18.9% | −2.1% | −51.8% | — |
| VBK Vanguard Morningstar Small-Cap Growth ETF | 1 of 9 | −6.1% | −32.8% | −38.7% | −25.2% | −6.0% | −24.1% | −27.7% | −2.7% | −58.7% | — |
| CGGR Capital Group Growth ETF | 0 of 1 | −4.6% | — | — | — | — | — | — | — | — | — |
| TCHP T. Rowe Price Blue Chip Growth ETF | 0 of 2 | −3.8% | −37.2% | — | — | — | — | — | — | — | — |
How closely does IVW move with the S&P 500?
Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares IVW with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- SPMO took just 76% of the S&P 500's losses, against 102% for IVW, while still keeping 102% of its gains.
- Over the past 10 years, IVW captured 109% of the S&P 500's gains in rising months and 102% of its losses in falling months, with a beta of 1.08. It amplified the market's moves in both directions.
- Six of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than IVW's 1.06, led by SPMO, QQQ and IWY.
Monthly total returns over the past 10 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than IVW's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| IVW This pageiShares S&P 500 Growth ETF | 109% | 102% | 1.06 | 1.08 |
| SPMO Invesco S&P 500 Momentum ETF | 102% | 76% | 1.35 | 0.99 |
| QQQ Invesco QQQ Trust, Series 1 | 118% | 102% | 1.16 | 1.13 |
| IWY iShares Russell Top 200 Growth ETF | 113% | 102% | 1.10 | 1.09 |
| MGK Vanguard Morningstar Mega Cap Growth ETF | 115% | 107% | 1.07 | 1.14 |
| VONG Vanguard Russell 1000 Growth ETF | 111% | 104% | 1.07 | 1.10 |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 109% | 102% | 1.07 | 1.08 |
| SCHG Schwab U.S. Large-Cap Growth ETF | 114% | 107% | 1.06 | 1.12 |
| IUSG iShares Core S&P U.S. Growth ETF | 109% | 103% | 1.05 | 1.08 |
| VUG Vanguard Morningstar Growth ETF | 113% | 108% | 1.04 | 1.13 |
| RPG Invesco S&P 500 Pure Growth ETF | 100% | 108% | 0.93 | 1.15 |
| IVE iShares S&P 500 Value ETF | 88% | 100% | 0.89 | 0.92 |
| RSP Invesco S&P 500 Equal Weight ETF | 92% | 107% | 0.86 | 1.01 |
| VO Vanguard Morningstar Mid-Cap ETF | 91% | 109% | 0.84 | 1.05 |
| VBK Vanguard Morningstar Small-Cap Growth ETF | 99% | 125% | 0.79 | 1.17 |
What diversifies IVW?
Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with IVW's. Because such investments tend not to fall at the same time, pairing IVW with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in IVW into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+14.7% for IVW alone, +16.0% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of IVW over the past 5 years, with correlations of 0.46 or lower, and each still earned a positive 5-year return.
- Among large stocks, CAH, MCK and MPC have moved largely independently of IVW over the past 5 years, with correlations of 0.18 or lower, and each still earned a positive 5-year return.
Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which IVW lost money. The last two columns show a portfolio that is 80% IVW and 20% the other investment, rebalanced monthly.
ETFs
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2008 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| IVW iShares S&P 500 Growth ETF (this page) | 1.00 | +85.3% | 0.68 | −29.5% | −0.2% | −34.8% | −23.5% | −12.4% | 19.2% | +14.7% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.34 | +119% | 1.48 | +3.8% | −5.2% | — | — | — | 16.1% | +15.4% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.46 | +225% | 1.34 | +6.0% | −19.8% | −20.8% | — | — | 16.7% | +17.4% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.43 | +101% | 1.04 | +10.4% | −8.7% | — | — | — | 16.8% | +15.2% |
| EWP Broad MarketiShares MSCI Spain ETF | 0.38 | +140% | 0.97 | −5.2% | −15.3% | −36.8% | −13.6% | −9.2% | 17.1% | +16.3% |
| GLD CommoditiesSPDR Gold Shares | 0.08 | +126% | 0.96 | −0.8% | −1.9% | +4.9% | — | — | 16.0% | +16.0% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.10 | +177% | 0.93 | +64.4% | −18.2% | −39.0% | −14.8% | −18.2% | 16.7% | +17.2% |
| AMLP EnergyAlerian MLP ETF | 0.29 | +111% | 0.89 | +25.5% | −12.6% | — | — | — | 16.8% | +15.9% |
| EFV InternationaliShares MSCI EAFE Value ETF | 0.46 | +89.0% | 0.88 | −5.2% | −14.7% | −41.7% | — | — | 17.0% | +14.9% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2008 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| IVW iShares S&P 500 Growth ETF (this page) | 1.00 | +85.3% | 0.68 | −29.5% | −0.2% | −34.8% | −23.5% | −12.4% | 19.2% | +14.7% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.18 | +479% | 1.55 | +54.1% | −24.5% | −39.6% | −8.3% | −2.5% | 17.1% | +19.8% |
| MCK Medical - DistributionMcKesson Corporation | 0.06 | +413% | 1.44 | +51.8% | −28.4% | −40.4% | −27.2% | +4.9% | 16.4% | +19.3% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.14 | +690% | 1.41 | +86.6% | −8.2% | — | — | — | 17.5% | +22.0% |
| HWM Aerospace & DefenseHowmet Aerospace Inc. | 0.43 | +594% | 1.36 | +24.2% | −37.5% | −67.4% | −33.1% | +9.8% | 19.3% | +21.8% |
| ATI Manufacturing - Metal FabricationATI Inc. | 0.22 | +1,008% | 1.34 | +87.5% | −9.8% | −70.0% | −60.8% | +10.3% | 19.7% | +25.1% |
Common questions
What was IVW's worst drawdown?
IVW's deepest decline since it began trading in 2000 was 57.4%, from July 2000 to March 2009. It took about four years from the low to climb back to its old high.
What were IVW's best and worst years?
Over 25 full calendar years, IVW's best year was 2024, when it returned 35.8%. Its worst was 2008, with a return of -34.8%.
Is there a better investment than IVW?
Among IVW's popular alternatives, DYNF earned more than IVW with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 13.1% a year at 21.5%. A cheaper fund that has kept up over the past decade is VUG (0.03% a year against 0.18%).
Is IVW more volatile than the S&P 500?
Yes. IVW's volatility over the past 5 years was 21.5%, 1.3 times the S&P 500's 17.1%. Volatility measures how widely returns swing around their average: in roughly two years out of three, IVW's return lands within 21.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.
What is IVW's Sharpe ratio?
IVW's Sharpe ratio over the past 5 years was 0.68, against 0.79 for the S&P 500, so IVW earned less for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.
How correlated is IVW with the S&P 500?
Over the past 5 years, IVW's monthly returns had a correlation of 0.95 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against IVW instead: the lower it is, the more that option would diversify a IVW holding.
What are the best alternatives to IVW?
Of the 23 popular alternatives we compared, two outperformed IVW in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SPMO and QQQ.
Did IVW outperform the S&P 500?
IVW finished ahead of the S&P 500 (SPY) in 13 of 25 full calendar years. In 2025, it returned +22.0%, against +17.7% for the index.
How did IVW do in stock market crashes?
IVW fell less than the S&P 500 (SPY) in three of the nine major crashes it has traded through, and further in two. The clearest case was the 2008 financial crisis, when IVW fell 49.4% and the S&P 500 fell 55.2%.
What diversifies IVW?
These had a low correlation with IVW over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.34), DXJ (correlation 0.46) and EMLP (correlation 0.43); among large stocks, CAH (correlation 0.18), MCK (correlation 0.06) and MPC (correlation 0.14). A correlation near zero means the two have moved largely independently.
How we measure
- Short-term periods are 1M, 3M, 6M, YTD, 1Y; long-term periods are 3Y, 5Y, 10Y. An investment outperformed in a period when its total return, with dividends reinvested, was higher than IVW's. Returns within 0.5 points or 3% of IVW's, whichever is larger, count as a tie.
- "Qualified" means outperforming in at least 3 of 5 short-term periods and 2 of 3 long-term periods. "All-weather" means outperforming in every long-term period and all but one short-term period.
- Popular alternatives are the funds and stocks most often compared with this one. We include only those that trade today, are not leveraged or inverse, and hold at least $200 million.
- Volatility is the annualized standard deviation of daily returns over 5 years, a measure of how much the price typically swings in a year. The Sharpe ratio is the return above cash for each unit of that volatility.
- A decline, or drawdown, runs from a peak to the lowest close before the next high. The worst decline ever uses all the price history we have; comparisons between funds use the past 10 years so that younger funds are judged on the same stretch.
- Sector overlap is the share of assets two funds hold in the same sectors. Correlation and the mixed-portfolio figures use monthly returns.
- Upside and downside capture follow Morningstar's definition: the compound monthly return in the months the S&P 500 rose (or fell), divided by the S&P 500's compound return in those months. Beta measures how strongly monthly returns have moved with the S&P 500. All three use the same window for every investment.
- Figures are computed from daily adjusted prices and update after each trading day. Past performance does not predict future results.
More research
Popular alternatives to IVW
QQQInvesco QQQ Trust, Series 1
QQQMInvesco NASDAQ 100 ETF- DYNFiShares U.S. Equity Factor Rotation Active ETF
SCHGSchwab U.S. Large-Cap Growth ETF- SPYState Street SPDR S&P 500 ETF
IVEiShares S&P 500 Value ETF
RSPInvesco S&P 500 Equal Weight ETF
VOVanguard Morningstar Mid-Cap ETF
VONGVanguard Russell 1000 Growth ETF- VUGVanguard Morningstar Growth ETF
SPYGState Street SPDR Portfolio S&P 500 Growth ETF
IWFiShares Russell 1000 Growth ETF