Relative Intelligence · US Large-Cap Growth
How iShares Russell 1000 Growth ETF (IWF) compares with the whole market and its popular alternatives
Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on IWF alone. It places IWF (iShares Russell 1000 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 IWF stands in the market, and of the alternatives worth a closer look.
Period covered: IWF'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 buyingIWF charges 0.18% a year; VUG (Vanguard Morningstar Growth ETF) tracks the same thing for 0.03%. 55% of IWF sits in technology, against 38% for the S&P 500. Better options ↓
- Right nowIWF has trailed the market, rising 3.3% over the past 6 months against 9.1% for the S&P 500 and 11.2% for the Nasdaq 100. On the flip side, after a 23.4% loss from December 2024 to April 2025, IWF has bounced 23.6% off the low. At a glance ↓
- Fund or market?IWF rose 2.6% 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, IWF returned 17.8% a year against 15.5% a year for the S&P 500 (416% in total against 321%). That said, over 5 years IWF trailed the index: 74.1% against 81.7%. Growth of $10,000 ↓
- In a crashIn the 2022 bear market, IWF fell 31.2%, 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 VUG (Vanguard Morningstar Growth ETF, 33.7%). IWF fell further than the S&P 500 in two of the last three sell-offs, including the 2022 bear market (31.2% against 24.5%). Crash tests ↓
- DiversificationIWF is more of the same, not a cushion: a correlation of 0.94 with the S&P 500 over 5 years and 0.94 with the total US market, more closely than 90% of ETFs with at least $100 million in assets. When the S&P 500 had a down month, IWF usually fell with it (18 of 22 months). By year ↓
- Better options
- Nearby categories and themes
- MGC (Vanguard Morningstar Mega Cap ETF, US large-cap equity) and AVLV (Avantis U.S. Large Cap Value ETF, US large-cap value) earned more than IWF with less volatility over the past 5 years. MGC returned 13.4% a year at 17.4% volatility, against 11.7% a year at 21.8%.
- Versus the S&P 500
- The S&P 500 matched IWF's return over the past 5 years (12.7% a year against 11.7%) with 21% less volatility.
- Whole market
- 113 of the 3,633 stocks and funds worth at least $500 million earned more than IWF with less volatility over the past 5 years, among them VOO (Vanguard S&P 500 ETF), BRK-B (Berkshire Hathaway) and BRK-A (Berkshire Hathaway).
How much would $10,000 in IWF have grown?
This chart tracks a hypothetical $10,000 investment in IWF over the past 25 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of IWF over the same span and IWF'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 25 years rather than IWF's full 26 years, because most of its popular alternatives have not traded that long.
- $10,000 invested in IWF at the end of September 2001 would have grown to $147,031 by September 2026, more than the $114,557 it would have become in SPY, an S&P 500 fund.
- Five of the eight other investments on the chart ended ahead of IWF, and BNS finished highest, at $559,177.
Choose a period
From the end of September 2001 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. 465 of the 1,326 stocks and funds worth at least $500 million that traded the whole period ended ahead of IWF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- BNS$559,177+5,492% total · +17.5% a year
- RY$321,225+3,112% total · +14.9% a year
- QQQ$303,059+2,931% total · +14.6% a year
- XLK$273,782+2,638% total · +14.2% a year
- TD$253,189+2,432% total · +13.8% a year
- IWF$147,031+1,370% total · +11.4% a year
- IUSG$144,477+1,345% total · +11.3% a year
- SPYG$142,125+1,321% total · +11.2% a year
- SPY (S&P 500)$114,557+1,046% total · +10.2% a year
- IWD$83,566+736% 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. 927 of the 3,628 stocks and funds worth at least $500 million that traded the whole period ended ahead of IWF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.
- XLK$27,207+172% total · +22.2% a year
- SPMO$26,579+166% total · +21.6% 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
- SCHG$19,862+98.6% total · +14.7% a year
- MGC$19,755+97.5% total · +14.6% a year
- VUG$19,143+91.4% total · +13.9% a year
- SPY (S&P 500)$19,000+90.0% total · +13.7% a year
- IWF$18,822+88.2% total · +13.5% a year
IWF 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.
- IWF's deepest decline since it began trading in 2000 was 64.2%, 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, IWF's best was 2023, when it returned 42.6%, and its worst was 2008, when it lost 38.1%. It lost money in five of those years.
- IWF is 5.2% below its all-time high.
The fund
- Issuer
- IShares
- Began trading
- May 2000
- Expense ratio
- 0.18%per year
- Assets
- $125B
- Category
- Broad Market
Returns
- Past 1 year
- +4.0%total return
- Past 3 years
- +87.7%+23.3% a year
- Past 5 years
- +74.1%+11.7% a year
- Past 10 years
- +416%+17.8% a year
- Best calendar year
- +42.6%2023
- Worst calendar year
- −38.1%2008
- Losing years
- 5 of 25full calendar years
Risk
- Volatility
- 21.8%typical yearly swing, 5 years
- Sharpe ratio
- 0.62return per unit of risk, 5 years
- Worst decline ever
- −64.2%Jul 2000 to Mar 2009
- From its all-time high
- −5.3%below the peak
IWF against the whole market
Where IWF ranks among every stock and fund, and what across the market has done better.
How does IWF rank among all ETFs?
This section ranks IWF 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 IWF stacks up against its peers, these rankings show where it stands in the market as a whole.
- IWF'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.
- IWF is among the more volatile ETFs: its price swings rank in the bottom 20% 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 | IWF | Rank | Standing |
|---|---|---|---|
| 1-year return | +4.0% | 1,638 of 2,485 | bottom 35% |
| 3-year return | +87.7% | 404 of 1,949 | top 21% |
| 5-year return | +74.1% | 323 of 1,560 | top 21% |
| 10-year return | +416% | 36 of 958 | top 4% |
| Volatility, 5 years | 21.8% | 1,242 of 1,560 | bottom 21% |
| Sharpe ratio, 5 years | 0.62 | 679 of 1,560 | top 44% |
| Worst decline, past 10 years | −32.7% | 248 of 951 | top 26% |
What has beaten IWF 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). IWF sits where the dashed lines cross. Anything in the green box above and to the left earned more than IWF 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.
- 17 stocks and 96 ETFs worth at least $500 million sit in the green region: each earned more than IWF over the past 5 years with smaller price swings. That is 3% of the 3,633 screened.
- Among those with at least half IWF's swings, LVHI has the best return for its risk: 17.0% a year at 11.1% volatility, 49% less than IWF's 21.8%, and a Sharpe ratio (return above cash per unit of volatility) of 1.48 against 0.62 for IWF. DXJ earned the most, 26.6% a year, while still swinging less than IWF (19.1% against 21.8%).
- Among IWF's popular alternatives, DYNF is in the region. DYNF earned 14.7% a year against 11.7% a year for IWF, at 17.5% volatility, 20% less than IWF's 21.8%.
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 IWF; faint dots are 55 more of the 113 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 IWF?
Investments that beat IWF over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.
- Among IWF's popular alternatives, DYNF earned more than IWF with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 11.7% a year at 21.8%.
- 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, MGC (US large-cap equity) and AVLV (US large-cap value) earned more than IWF with less volatility over the past 5 years. MGC returned 13.4% a year at 17.4% volatility, against 11.7% a year at 21.8%.
How this works
The table below lists investments that beat IWF 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 IWF'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 IWF 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 IWF'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× IWF's volatility counts as better.
These figures cover the past 5 years. Green marks a better figure than IWF'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 IWF?lower diversifies more | Expenseper year | |||
| IWFiShares Russell 1000 Growth ETF · this page | +11.7% | 21.8% | 0.62 | −32.7% | +416% | 1.00 | 0.18% | ||
 SPYState Street SPDR S&P 500 ETF · S&P 500 | +12.7% | 17.1% | 0.79 | −33.7% | +321% | 0.94 | 0.09% | ||
| Popular alternativesbest 6 shownThe investments people most often weigh against IWF. 16 of 21 passed at least one test. | |||||||||
 DYNFiShares U.S. Equity Factor Rotation Active ETF · US Multifactor Equity | Higher return, lower volatilityHigher return in most periods | +14.7% | 17.5% | 0.87 | −34.7% | — | 0.95 | 0.26% | |
 VUGVanguard Morningstar Growth ETF · US Large-Cap Growth | Higher return in most periodsSame exposure, lower expense ratio | +12.3% | 22.5% | 0.63 | −35.6% | +419% | 0.99 | 0.03% | |
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% | 0.81 | 0.13% | |
 XLKState Street Technology Select Sector SPDR ETF · Technology Equity | Higher return in most periods | +19.4% | 26.0% | 0.82 | −33.6% | +767% | 0.94 | 0.08% | |
 IWDiShares Russell 1000 Value ETF · US Large-Cap Value | Similar return, lower volatility | +11.4% | 14.7% | 0.81 | −38.5% | +205% | 0.68 | 0.18% | |
 QUALiShares MSCI USA Quality Factor ETF · US Quality Equity | Similar return, lower volatility | +11.4% | 17.3% | 0.71 | −34.1% | +293% | 0.91 | 0.15% | |
| 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 IWF's specific themes. 44 of 66 passed at least one test. | |||||||||
MGCVanguard Morningstar Mega Cap ETF · US Large-Cap Equity | Higher return, lower volatilityHigher return in most periods | +13.4% | 17.4% | 0.81 | −33.1% | +353% | 0.97 | 0.05% | |
AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.72 | 0.15% | |
 DFACDimensional - US Core Equity 2 ETF · US Total Market | Similar return, lower volatilityHigher Sharpe, smaller worst decline | +11.4% | 17.0% | 0.72 | −23.1% | — | 0.86 | 0.21% | |
RWLInvesco S&P 500 Revenue ETF · US Large-Cap Equity | Higher return, lower volatility | +13.7% | 14.4% | 0.97 | −36.1% | +287% | 0.74 | 0.39% | |
JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Higher return, lower volatility | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.88 | 0.12% | |
MGVVanguard Morningstar Mega Cap Value ETF · US Large-Cap Value | Similar return, lower volatility | +12.6% | 13.4% | 0.95 | −35.4% | +244% | 0.62 | 0.05% | |
| The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 374 of 3,547 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% | 0.45 | — | |
 WMTWalmart Inc. · Discount Retail | Higher return, similar volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +20.8% | 22.6% | 0.96 | −25.7% | +508% | 0.39 | — | |
 MPLXMPLX Lp · Oil & Gas Midstream | On the frontierHigher return, lower volatilityHigher return in most periods | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.29 | — | |
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% | |
 JNJJohnson & Johnson · Pharmaceuticals | Higher return, lower volatilityHigher Sharpe, smaller worst decline | +12.7% | 17.9% | 0.76 | −27.4% | +196% | -0.01 | — | |
GSUSGoldman Sachs MarketBeta U.S. Equity ETF · Broad Market | Similar return, lower volatilityHigher Sharpe, smaller worst declineHigher return in most periods | +12.4% | 17.2% | 0.77 | −25.6% | — | 0.95 | 0.09% | |
 ABBVAbbVie Inc. · Pharmaceuticals | Higher return, similar volatilityHigher return in most periods | +26.1% | 23.4% | 1.11 | −45.1% | +603% | 0.04 | — | |
BFCBank First Corporation · Banks - Regional | Higher return in most periodsSmaller losses in recent crashes | +19.0% | 27.3% | 0.78 | −39.8% | +496% | 0.19 | — | |
What these numbers mean for IWF
- Annual return
- IWF returned 11.7% 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 $17,400. 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
- IWF's volatility over the past 5 years was 21.8%, 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, IWF's return lands within 21.8% 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
- IWF's Sharpe ratio over the past 5 years was 0.62, against 0.79 for the S&P 500, so IWF 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
- IWF'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, IWF's monthly returns had a correlation of 0.94 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 IWF instead: the lower it is, the more that option would diversify a IWF holding. Guide: Correlation and diversification →
Show all 113 stocks and funds worth at least $500 million that earned more than IWF with less volatility
Out of 3,633 tested over 5 years. The strongest 62 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 IWF | Expense |
|---|---|---|---|---|---|---|---|---|---|
| 1 | RYRoyal Bank of Canada · Banks | Whole market | +17.3% | 18.2% | 0.97 | −40.0% | +352% | 0.45 | — |
| 2 | MPLXMPLX Lp · Oil & Gas Midstream | Whole market | +23.5% | 18.8% | 1.22 | −75.2% | +350% | 0.29 | — |
| 3 | BKLCBNY Mellon US Large Cap Core Equity ETF · US Large-Cap Equity | Same or nearby category | +13.8% | 17.3% | 0.84 | −26.2% | — | 0.96 | 0.00% |
| 4 | DXJWisdomTree Japan Hedged Equity Fund · International Equity | Whole market | +26.6% | 19.1% | 1.34 | −39.1% | +428% | 0.46 | 0.48% |
| 5 | LVHIFranklin International Low Volatility High Dividend Index ETF · International Equity | Whole market | +17.0% | 11.1% | 1.48 | −32.4% | +194% | 0.32 | 0.40% |
| 6 |  TDThe Toronto-Dominion Bank · Banks | Whole market | +15.8% | 20.0% | 0.84 | −42.0% | +310% | 0.41 | — |
| 7 | JNJJohnson & Johnson · Pharmaceuticals | Whole market | +12.7% | 17.9% | 0.76 | −27.4% | +196% | -0.01 | — |
| 8 |  BNSThe Bank of Nova Scotia · Banks | Whole market | +12.9% | 19.9% | 0.71 | −46.9% | +187% | 0.63 | — |
| 9 |  RSGRepublic Services, Inc. · Environmental Services | Whole market | +13.9% | 18.5% | 0.80 | −34.0% | +446% | 0.26 | — |
| 10 |  NVSNovartis AG · Pharmaceuticals | Whole market | +17.1% | 20.7% | 0.87 | −26.8% | +226% | 0.15 | — |
| 11 |  GLDSPDR Gold Shares · Gold | Whole market | +17.7% | 18.9% | 0.96 | −26.4% | +213% | 0.09 | 0.40% |
| 12 | EFViShares MSCI EAFE Value ETF · International Equity | Whole market | +13.6% | 15.9% | 0.88 | −43.2% | +157% | 0.43 | 0.31% |
| 13 | FNDFSchwab Fundamental International Large Company Index ETF · International Equity | Whole market | +13.6% | 16.3% | 0.87 | −40.2% | +194% | 0.53 | 0.25% |
| 14 | AVDVAvantis International Small Cap Value ETF · International Equity | Whole market | +13.9% | 17.4% | 0.84 | −43.0% | — | 0.55 | 0.36% |
| 15 | IOOiShares Global 100 ETF · Global Equity | Whole market | +15.7% | 17.2% | 0.94 | −31.4% | +361% | 0.91 | 0.40% |
| 16 | PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +16.1% | 15.1% | 1.07 | −41.3% | — | 0.70 | 0.56% |
| 17 | MLPXGlobal X - MLP & Energy Infrastructure ETF · Energy | Whole market | +18.6% | 19.7% | 0.97 | −64.6% | +186% | 0.33 | 0.45% |
| 18 | VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value | Same or nearby category | +15.9% | 18.4% | 0.90 | −39.5% | +286% | 0.70 | 0.15% |
| 19 | SPUSSP Funds S&P 500 Sharia Industry Exclusions ETF · Technology | Whole market | +15.0% | 19.5% | 0.82 | −30.8% | — | 0.98 | 0.45% |
| 20 | XLGInvesco S&P 500 Top 50 ETF · US Large-Cap Equity | Same or nearby category | +13.8% | 18.9% | 0.78 | −30.5% | +379% | 0.98 | 0.20% |
| 21 | DIVBiShares Core Dividend ETF · Dividend & Income | Whole market | +13.9% | 15.4% | 0.93 | −36.9% | — | 0.67 | 0.05% |
| 22 | JMOMJPMorgan U.S. Momentum Factor ETF · Broad Market | Whole market | +12.9% | 19.1% | 0.73 | −34.3% | — | 0.91 | 0.12% |
| 23 | USXFiShares ESG Advanced MSCI USA ETF · Broad Market | Whole market | +13.1% | 20.2% | 0.71 | −29.6% | — | 0.94 | 0.10% |
| 24 | VFMFVanguard U.S. Multifactor ETF · Broad Market | Whole market | +14.3% | 17.6% | 0.85 | −41.3% | — | 0.67 | 0.18% |
| 25 | DBJPXtrackers MSCI Japan Hedged Equity ETF · International | Whole market | +20.9% | 19.2% | 1.09 | −31.3% | +348% | 0.62 | 0.45% |
| 26 | AVLVAvantis U.S. Large Cap Value ETF · US Large-Cap Value | Same or nearby category | +14.0% | 16.9% | 0.86 | −19.5% | — | 0.72 | 0.15% |
| 27 | EWJViShares MSCI Japan Value ETF · International | Whole market | +14.9% | 18.2% | 0.86 | −30.1% | — | 0.40 | 0.15% |
| 28 | DGTState Street SPDR Global Dow ETF · International | Whole market | +13.8% | 15.1% | 0.94 | −34.4% | +261% | 0.68 | 0.50% |
| 29 | FYLDCambria Foreign Shareholder Yield ETF · Dividend & Income | Whole market | +13.1% | 16.0% | 0.85 | −44.6% | +203% | 0.39 | 0.59% |
| 30 | FIVAFidelity International Value Factor ETF · International | Whole market | +13.1% | 16.4% | 0.84 | −39.7% | — | 0.53 | 0.18% |
| 31 | NXTGFirst Trust Indxx NextG ETF · Technology | Whole market | +16.2% | 19.1% | 0.89 | −33.6% | +330% | 0.78 | 0.70% |
| 32 | GVALCambria Global Value ETF · International | Whole market | +14.4% | 18.7% | 0.82 | −46.8% | +173% | 0.40 | 0.68% |
| 33 |  BRK-BBerkshire Hathaway Inc. · Insurance | Whole market | +13.4% | 17.1% | 0.82 | −29.6% | +274% | 0.33 | — |
| 34 | FFLCFidelity Fundamental Large Cap Core ETF · Broad Market | Whole market | +15.7% | 16.8% | 0.95 | −19.7% | — | 0.83 | 0.38% |
| 35 | SIXAETC 6 Meridian Mega Cap Equity ETF · Broad Market | Whole market | +12.8% | 12.7% | 1.01 | −18.4% | — | 0.63 | 0.31% |
| 36 |  KOThe Coca-Cola Company · Food & Beverages | Whole market | +14.7% | 16.8% | 0.91 | −37.0% | +204% | 0.09 | — |
| 37 |  CBChubb Limited · Property & Casualty Insurance | Whole market | +15.7% | 20.4% | 0.82 | −42.6% | +248% | 0.07 | — |
| 38 |  EPDEnterprise Products Partners L.P. · Oil & Gas Midstream | Whole market | +16.4% | 17.1% | 0.98 | −58.1% | +178% | 0.24 | — |
| 39 | SDCIUSCF SummerHaven Dynamic Commodity Strategy No K-1 Fund · Bonds | Whole market | +20.6% | 18.4% | 1.12 | −45.7% | — | -0.03 | 0.80% |
| 40 | ATOAtmos Energy Corporation · Gas Utilities | Whole market | +14.9% | 18.4% | 0.85 | −32.9% | +194% | 0.30 | — |
| 41 | LLoews Corporation · Property & Casualty Insurance | Whole market | +14.3% | 19.2% | 0.80 | −48.5% | +180% | 0.24 | — |
| 42 | HDViShares Core High Dividend ETF · US Dividend Equity | Whole market | +12.9% | 13.0% | 1.00 | −37.0% | +172% | 0.33 | 0.08% |
| 43 | NINiSource Inc · Gas Utilities | Whole market | +15.1% | 20.3% | 0.80 | −30.9% | +158% | 0.31 | — |
| 44 | AMLPAlerian MLP ETF · Energy Equity | Whole market | +16.1% | 18.9% | 0.89 | −72.9% | +91.0% | 0.28 | 1.01% |
| 45 | FDVVFidelity High Dividend ETF · US Dividend Equity | Whole market | +13.2% | 14.6% | 0.92 | −40.2% | +253% | 0.74 | 0.15% |
| 46 | DBEFXtrackers MSCI EAFE Hedged Equity ETF · International Equity | Whole market | +13.1% | 13.8% | 0.96 | −32.5% | +206% | 0.69 | 0.35% |
| 47 | ITAiShares U.S. Aerospace & Defense ETF · Aerospace & Defense | Whole market | +14.6% | 20.4% | 0.78 | −51.0% | +258% | 0.47 | 0.37% |
| 48 | PNWPinnacle West Capital Corporation · Electric Utilities | Whole market | +13.4% | 19.9% | 0.73 | −39.3% | +103% | 0.17 | — |
| 49 | FDLFirst Trust Morningstar Dividend Leaders Index Fund · US Dividend Equity | Whole market | +13.9% | 14.4% | 0.98 | −41.4% | +199% | 0.31 | 0.43% |
| 50 | EMLPFirst Trust North American Energy Infrastructure Fund · Energy Infrastructure | Whole market | +14.9% | 14.5% | 1.04 | −43.6% | +150% | 0.41 | 0.95% |
| 51 | GCOWPacer Global Cash Cows Dividend ETF · International | Whole market | +14.1% | 13.6% | 1.04 | −37.6% | +168% | 0.28 | 0.60% |
| 52 | IDMOInvesco S&P International Developed Momentum ETF · International Equity | Whole market | +13.3% | 18.2% | 0.78 | −31.3% | +229% | 0.68 | 0.25% |
| 53 | FTGCFirst Trust Global Tactical Commodity Strategy Fund · Alternatives | Whole market | +12.9% | 15.6% | 0.86 | −35.9% | +139% | 0.03 | 0.98% |
| 54 | JQUAJPMorgan U.S. Quality Factor ETF · US Quality Equity | Same or nearby category | +13.6% | 15.7% | 0.89 | −32.9% | — | 0.88 | 0.12% |
| 55 | WTVWisdomTree U.S. Value Fund · Broad Market | Whole market | +13.4% | 17.0% | 0.83 | −42.2% | +303% | 0.68 | 0.12% |
| 56 | PWVInvesco Large Cap Value ETF · Broad Market | Whole market | +13.5% | 14.2% | 0.97 | −37.6% | +223% | 0.53 | 0.55% |
| 57 | AUSFGlobal X - Adaptive U.S. Factor ETF · International | Whole market | +13.2% | 13.6% | 0.99 | −44.2% | — | 0.53 | 0.27% |
| 58 | HLALWahed FTSE USA Shariah ETF · Broad Market | Whole market | +14.0% | 18.0% | 0.82 | −33.6% | — | 0.95 | 0.50% |
| 59 | EQLALPS Equal Sector Weight ETF · Broad Market | Whole market | +13.5% | 14.5% | 0.94 | −34.2% | +387% | 0.76 | 0.19% |
| 60 | DTHWisdomTree International High Dividend Fund · International | Whole market | +13.0% | 15.1% | 0.89 | −40.8% | +131% | 0.37 | 0.58% |
| 61 | IDOGALPS International Sector Dividend Dogs ETF · International | Whole market | +14.1% | 15.6% | 0.93 | −37.3% | +180% | 0.40 | 0.50% |
| 62 | FDUSFidus Investment Corporation · Asset Management | Whole market | +13.5% | 20.4% | 0.72 | −68.7% | +260% | 0.50 | — |
IWF against its popular alternatives
The investments people most often weigh against IWF, compared period by period and year by year.
How do IWF'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 IWF, which divides the map into what did better or worse on each measure.
- Five of the 19 popular alternatives, led by SPMO, DYNF and SPYG, were both more rewarding and calmer than IWF over the past 5 years, earning a higher annual return with lower volatility.
- Over the past 5 years, IWF returned 11.7% a year, less than the S&P 500's 12.7%, with higher volatility (21.8% against 17.1%).
Green points earned more than IWF 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 |
|---|---|---|
| XLK State Street Technology Select Sector SPDR ETF | +19.4% | 26.0% |
| 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% |
| 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% |
| VUG Vanguard Morningstar Growth ETF | +12.3% | 22.5% |
| FBCG Fidelity Blue Chip Growth ETF | +12.3% | 26.1% |
| VONG Vanguard Russell 1000 Growth ETF | +11.9% | 21.7% |
| IWF This pageiShares Russell 1000 Growth ETF | +11.7% | 21.8% |
| IWD iShares Russell 1000 Value ETF | +11.4% | 14.7% |
| QUAL iShares MSCI USA Quality Factor ETF | +11.4% | 17.3% |
| ILCG iShares Morningstar Growth ETF | +11.2% | 22.4% |
| FFLG Fidelity Fundamental Large Cap Growth ETF | +9.2% | 25.8% |
| FDG American Century Focused Dynamic Growth ETF | +8.8% | 25.2% |
| TCHP T. Rowe Price Blue Chip Growth ETF | +8.4% | 23.7% |
| IWP iShares Russell Mid-Cap Growth ETF | +3.3% | 22.6% |
Has IWF consistently beaten its popular alternatives?
This section compares IWF 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 IWF helps separate lasting outperformance from a single strong stretch.
- 13 of the 23 popular alternatives, led by SCHG, XLK and QQQ, outperformed IWF in at least 3 of 5 short-term and 2 of 3 long-term timeframes.
- SCHG, XLK and QQQ outperformed IWF in every long-term period and in all but one short-term period, the most consistent record in the group.
- SPMO, SPYG and IVW earned more for the risk they took than IWF (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 IWF 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 | ||
| IWF iShares Russell 1000 Growth ETF (this page) | — | −3.0% | +2.6% | +3.3% | +4.1% | +4.0% | +87.7% | +74.1% | +416% | 21.8% | 0.62 | −32.7% | 0.18% | $125B | — |
| SCHG QualifiedSchwab U.S. Large-Cap Growth ETF | 5/5 short3/3 longAll-weather | −1.9% | +4.2% | +9.4% | +9.7% | +10.4% | +99.2% | +85.4% | +451% | 22.4% | 0.67 | −34.5% | 0.04% | $63B | 96% |
| XLK QualifiedState Street Technology Select Sector SPDR ETF | 4/5 short3/3 longAll-weather | −4.8% | +5.7% | +20.3% | +29.0% | +29.3% | +131% | +143% | +767% | 26.0% | 0.82 | −33.6% | 0.08% | $125B | 55% |
| QQQ QualifiedInvesco QQQ Trust, Series 1 | 4/5 short3/3 longAll-weather | −3.2% | +3.2% | +11.2% | +17.4% | +17.9% | +106% | +97.2% | +553% | 23.0% | 0.71 | −35.1% | 0.18% | $492B | 87% |
| MGK QualifiedVanguard Morningstar Mega Cap Growth ETF | 4/5 short3/3 longAll-weather | −2.6% | +4.7% | +9.8% | +10.8% | +11.9% | +104% | +88.2% | +464% | 23.0% | 0.67 | −36.0% | 0.05% | $35B | 89% |
| 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% |
| VUG QualifiedVanguard Morningstar Growth ETF | 5/5 short2/3 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 QualifiedState Street SPDR Portfolio S&P 500 Growth ETF | 5/5 short2/3 long | −2.4% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.5% | +418% | 21.5% | 0.69 | −32.7% | 0.04% | $57B | 95% |
| VOOG QualifiedVanguard S&P 500 Growth ETF | 5/5 short2/3 long | −2.3% | +4.0% | +9.9% | +13.9% | +15.8% | +110% | +86.0% | +416% | 21.6% | 0.69 | −32.7% | 0.07% | $28B | 96% |
| IVW QualifiediShares S&P 500 Growth ETF | 5/5 short2/3 long | −2.4% | +4.0% | +9.8% | +13.8% | +15.7% | +109% | +85.3% | +413% | 21.5% | 0.68 | −32.7% | 0.18% | $77B | 95% |
| IUSG QualifiediShares Core S&P U.S. Growth ETF | 5/5 short2/3 long | −2.3% | +3.8% | +9.4% | +13.9% | +15.9% | +107% | +83.7% | +405% | 21.2% | 0.68 | −32.4% | 0.04% | $33B | 94% |
| DYNF QualifiediShares U.S. Equity Factor Rotation Active ETF | 5/5 short2/3 long | −1.9% | +3.4% | +9.1% | +14.1% | +17.1% | +106% | +98.5% | — | 17.5% | 0.87 | −34.7% | 0.26% | $42B | 78% |
| IWY QualifiediShares Russell Top 200 Growth ETF | 4/5 short2/3 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 | 97% |
| FBCG QualifiedFidelity Blue Chip Growth ETF | 3/5 short2/3 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% |
| CGGR Broad MarketCapital Group Growth ETF | 5/5 short1/3 long | −2.2% | +3.9% | +5.7% | +5.7% | +5.8% | +97.0% | — | — | — | — | −28.9% | 0.39% | $26B | 85% |
| ILCG Broad MarketiShares Morningstar Growth ETF | 3/5 short1/3 long | −3.3% | +1.5% | +5.4% | +9.7% | +9.1% | +96.5% | +69.7% | +403% | 22.4% | 0.59 | −35.4% | 0.04% | $3.1B | 92% |
| FFLG Broad MarketFidelity Fundamental Large Cap Growth ETF | 2/5 short1/3 long | −4.3% | +2.0% | +3.4% | +9.3% | +11.3% | +107% | +55.5% | — | 25.8% | 0.47 | −44.5% | 0.38% | $635M | 95% |
| FDG Broad MarketAmerican Century Focused Dynamic Growth ETF | 1/5 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 | 80% |
| QUAL Broad MarketiShares MSCI USA Quality Factor ETF | 5/5 short0/3 long | +1.2% | +4.3% | +9.7% | +14.0% | +16.4% | +76.9% | +71.5% | +293% | 17.3% | 0.71 | −34.1% | 0.15% | $48B | 76% |
| IWD Broad MarketiShares Russell 1000 Value ETF | 5/5 short0/3 long | +1.7% | +4.7% | +14.2% | +22.7% | +27.7% | +84.4% | +71.7% | +205% | 14.7% | 0.81 | −38.5% | 0.18% | $84B | 52% |
| GRNY Broad MarketTidal Trust III - Fundstrat Granny Shots US Large Cap ETF | 3/5 short0/3 long | −3.8% | +0.6% | +4.3% | +9.6% | +7.7% | — | — | — | — | — | −24.2% | 0.75% | $4.4B | — |
| 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 | 98% |
| IWP Broad MarketiShares Russell Mid-Cap Growth ETF | 0/5 short0/3 long | −2.7% | −1.3% | −1.8% | −1.6% | −4.5% | +55.0% | +17.4% | +204% | 22.6% | 0.26 | −38.6% | 0.23% | $19B | 66% |
| 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 IWF do year by year?
This table shows each investment's total return in every full calendar year since 2001, along with where IWF ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with IWF and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.
- IWF finished ahead of the S&P 500 in 12 of its 25 full calendar years, and ahead of it in each of the last three.
- Among its popular alternatives, QQQ came out ahead of IWF most often, in 16 of the 25 years both traded.
- Ranked against its popular alternatives each year, IWF finished in the top quarter in no of 25 years and in the bottom quarter in no. In 2025, it ranked 16 of 22.
Newest year first. Green marks a year in which the fund came out ahead of IWF; gray means the two finished within a fraction of a point. The rank row places IWF among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.
| Investment | Years ahead of IWF | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| IWF This pageiShares Russell 1000 Growth ETF | — | +18.3% | +33.1% | +42.6% | −29.3% | +27.4% | +38.3% | +35.9% | −1.7% | +29.9% | +7.0% | +5.5% | +12.7% | +33.2% | +15.2% | +2.3% | +16.6% | +36.5% | −38.1% | +11.5% | +8.8% | +4.7% | +6.1% | +30.3% | −28.1% | −20.9% |
| Rank among alternatives | Top quarter in 0 of 25 | 16 of 22 | 10 of 21 | 11 of 21 | 9 of 20 | 8 of 19 | 9 of 16 | 8 of 15 | 9 of 15 | 6 of 15 | 9 of 15 | 5 of 14 | 11 of 14 | 6 of 13 | 9 of 13 | 7 of 13 | 5 of 12 | 7 of 10 | 5 of 10 | 5 of 9 | 7 of 9 | 5 of 9 | 5 of 7 | 4 of 7 | 4 of 7 | 3 of 6 |
| SPY S&P 500State Street SPDR S&P 500 ETF | 10 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% |
| SCHG Schwab U.S. Large-Cap Growth ETF | 6 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% | — | — | — | — | — | — | — | — | — |
| XLK State Street Technology Select Sector SPDR ETF | 13 of 25 | +24.6% | +21.6% | +56.0% | −27.7% | +34.8% | +43.6% | +49.9% | −1.7% | +34.3% | +15.0% | +5.5% | +17.9% | +26.2% | +15.4% | +2.5% | +11.5% | +51.1% | −41.5% | +15.5% | +12.2% | −0.4% | +5.6% | +38.7% | −38.2% | −23.4% |
| QQQ Invesco QQQ Trust, Series 1 | 16 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 | 9 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% | — | — | — | — | — | — | — |
| 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% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| 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 | 6 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 | 5 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% |
| 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 | 8 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% | — | — | — | — | — | — | — | — | — |
| FBCG Fidelity Blue Chip Growth ETF | 2 of 5 | +18.6% | +39.0% | +58.0% | −39.1% | +21.3% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| CGGR Capital Group Growth ETF | 1 of 3 | +19.8% | +32.1% | +42.2% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| ILCG iShares Morningstar Growth ETF | 6 of 21 | +16.7% | +32.8% | +40.4% | −31.8% | +24.3% | +38.5% | +33.2% | +2.1% | +30.6% | +1.6% | +7.5% | +14.5% | +31.8% | +17.4% | +1.6% | +12.7% | +43.7% | −41.9% | +12.1% | +5.5% | +3.0% | — | — | — | — |
| FFLG Fidelity Fundamental Large Cap Growth ETF | 2 of 4 | +19.6% | +32.3% | +51.0% | −37.8% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| FDG American Century Focused Dynamic Growth ETF | 2 of 5 | +22.1% | +45.9% | +37.2% | −35.7% | +8.5% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| QUAL iShares MSCI USA Quality Factor ETF | 2 of 12 | +12.7% | +22.3% | +30.9% | −20.5% | +26.9% | +17.0% | +33.9% | −5.7% | +22.3% | +9.2% | +5.4% | +11.7% | — | — | — | — | — | — | — | — | — | — | — | — | — |
| IWD iShares Russell 1000 Value ETF | 9 of 25 | +15.7% | +14.2% | +11.3% | −7.7% | +24.9% | +2.7% | +26.1% | −8.4% | +13.4% | +17.3% | −4.0% | +13.2% | +32.1% | +17.4% | +0.1% | +15.5% | +19.1% | −36.5% | −0.7% | +22.5% | +6.7% | +16.1% | +30.1% | −15.6% | −6.2% |
| GRNY Tidal Trust III - Fundstrat Granny Shots US Large Cap ETF | 1 of 1 | +24.0% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| VONG Vanguard Russell 1000 Growth ETF | 0 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% | — | — | — | — | — | — | — | — | — | — |
| IWP iShares Russell Mid-Cap Growth ETF | 8 of 24 | +8.5% | +21.9% | +25.7% | −26.9% | +12.6% | +35.2% | +35.0% | −4.9% | +25.0% | +7.2% | −0.4% | +11.7% | +35.5% | +15.6% | −1.9% | +26.1% | +46.5% | −44.6% | +11.2% | +10.5% | +11.8% | +14.9% | +43.0% | −28.0% | — |
| TCHP T. Rowe Price Blue Chip Growth ETF | 2 of 5 | +18.4% | +36.1% | +50.1% | −37.8% | +18.1% | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
Risk and diversification
How IWF 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 IWF's worst declines?
A drawdown is the decline from a peak to the lowest point before a new high. This section presents IWF'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 IWF's five worst declines, the S&P 500 held up better over the same dates.
- The slowest recovery came after IWF fell 64.2% from July 2000 to March 2009; it did not regain that peak until September 2013, four years later.
Green means IWF fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.
| During | IWF fell | S&P 500, same dates | Peak | Low | Time to the low | Back at the peak | Time to recover |
|---|---|---|---|---|---|---|---|
| Dot-com bust | −64.2% | −47.7% | Jul 2000 | Mar 2009 | 8.7 years | Sep 2013 | 4.5 years |
| 2022 bear market | −32.7% | −24.2% | Dec 2021 | Oct 2022 | 10 months | Jan 2024 | 15 months |
| Covid crash | −31.5% | −33.7% | Feb 2020 | Mar 2020 | 1 month | Jun 2020 | 3 months |
| No named crash | −23.4% | −17.7% | Dec 2024 | Apr 2025 | 4 months | Jun 2025 | 2 months |
| Late-2018 sell-off | −21.9% | −19.2% | Oct 2018 | Dec 2018 | 2 months | Apr 2019 | 4 months |
How did IWF do in stock market crashes?
This section measures how far IWF, 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: IWF 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.
- Among its popular alternatives, SPMO held up best, falling less than IWF in three of the five crashes they both traded through.
- IWF began trading after the dot-com bust, but two of its popular alternatives lived through it. The mildest fall among them was XLK's 82.0%, against 47.5% for the S&P 500.
- IWF fell further than the S&P 500 in three of the nine crashes it has traded through. The clearest case was the 2022 bear market, when IWF fell 31.2% and the S&P 500 fell 24.5%.
Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than IWF.
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IWF This pageiShares Russell 1000 Growth ETF | — | −3.4% | −31.2% | −31.5% | −21.9% | −6.4% | −13.4% | −18.2% | −2.0% | −51.2% | Not yet trading |
| SPY S&P 500State Street SPDR S&P 500 ETF | 3 of 9 | −3.4% | −24.5% | −33.7% | −19.3% | −6.5% | −12.8% | −17.9% | −1.5% | −55.2% | −47.5% |
| 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% | — | — |
| XLK State Street Technology Select Sector SPDR ETF | 2 of 9 | −3.2% | −32.4% | −31.1% | −23.8% | −6.7% | −12.7% | −15.9% | −2.1% | −53.0% | −82.0% |
| QQQ Invesco QQQ Trust, Series 1 | 2 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 | 1 of 8 | −3.3% | −33.9% | −31.2% | −22.6% | −6.3% | −15.0% | −16.8% | −2.0% | — | — |
| SPMO Invesco S&P 500 Momentum ETF | 3 of 5 | −2.4% | −22.7% | −30.9% | −23.4% | −6.7% | — | — | — | — | — |
| VUG Vanguard Morningstar Growth ETF | 1 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 | 2 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 | 1 of 9 | −3.0% | −30.8% | −32.4% | −20.7% | −6.5% | −14.1% | −18.9% | −2.1% | −51.8% | — |
| 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% | — | — |
| FBCG Fidelity Blue Chip Growth ETF | 0 of 2 | −4.6% | −38.8% | — | — | — | — | — | — | — | — |
| CGGR Capital Group Growth ETF | 0 of 1 | −4.6% | — | — | — | — | — | — | — | — | — |
| ILCG iShares Morningstar Growth ETF | 2 of 9 | −3.7% | −33.2% | −31.6% | −20.7% | −6.6% | −16.1% | −17.6% | −1.8% | −53.0% | — |
| FFLG Fidelity Fundamental Large Cap Growth ETF | 0 of 2 | −4.7% | −38.1% | — | — | — | — | — | — | — | — |
| FDG American Century Focused Dynamic Growth ETF | 0 of 2 | −4.4% | −37.3% | — | — | — | — | — | — | — | — |
| QUAL iShares MSCI USA Quality Factor ETF | 3 of 6 | −3.3% | −27.5% | −34.1% | −20.5% | −6.1% | −11.2% | — | — | — | — |
| IWD iShares Russell 1000 Value ETF | 2 of 9 | −4.6% | −19.0% | −38.4% | −18.0% | −6.4% | −14.3% | −19.5% | −1.6% | −59.9% | — |
| VONG Vanguard Russell 1000 Growth ETF | 0 of 7 | −3.5% | −31.2% | −31.7% | −22.0% | −6.4% | −13.4% | −17.8% | — | — | — |
| IWP iShares Russell Mid-Cap Growth ETF | 0 of 9 | −5.1% | −32.7% | −35.9% | −21.8% | −6.0% | −19.0% | −23.6% | −2.3% | −56.9% | — |
| TCHP T. Rowe Price Blue Chip Growth ETF | 0 of 2 | −3.8% | −37.2% | — | — | — | — | — | — | — | — |
How closely does IWF 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 IWF with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 10 years.
- Seven of the 14 popular alternatives had a higher capture ratio (upside capture divided by downside capture) than IWF's 1.06, led by SPMO, XLK and QQQ.
- SPMO took just 76% of the S&P 500's losses, against 104% for IWF, while still keeping 102% of its gains.
- Over the past 10 years, IWF captured 110% of the S&P 500's gains in rising months and 104% of its losses in falling months, with a beta of 1.10. It amplified the market's moves in both directions.
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 IWF's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.
| Investment | Upside capture | Downside capture | Capture ratio | Beta |
|---|---|---|---|---|
| IWF This pageiShares Russell 1000 Growth ETF | 110% | 104% | 1.06 | 1.10 |
| SPMO Invesco S&P 500 Momentum ETF | 102% | 76% | 1.35 | 0.99 |
| XLK State Street Technology Select Sector SPDR ETF | 128% | 100% | 1.28 | 1.19 |
| 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 |
| SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 109% | 102% | 1.07 | 1.08 |
| VONG Vanguard Russell 1000 Growth ETF | 111% | 104% | 1.07 | 1.10 |
| 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 |
| ILCG iShares Morningstar Growth ETF | 109% | 104% | 1.05 | 1.12 |
| VUG Vanguard Morningstar Growth ETF | 113% | 108% | 1.04 | 1.13 |
| QUAL iShares MSCI USA Quality Factor ETF | 98% | 102% | 0.96 | 1.00 |
| IWD iShares Russell 1000 Value ETF | 87% | 99% | 0.88 | 0.93 |
| IWP iShares Russell Mid-Cap Growth ETF | 94% | 110% | 0.85 | 1.11 |
What diversifies IWF?
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 IWF's. Because such investments tend not to fall at the same time, pairing IWF with them can reduce a portfolio's overall swings.
- Moving a fifth of the money in IWF into GLD would have cut the portfolio's volatility by 17% over the past 5 years and raised its annual return (+13.5% for IWF alone, +15.0% for the mix).
- Among large ETFs, LVHI, DXJ and EMLP have moved largely independently of IWF 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 IWF over the past 5 years, with correlations of 0.20 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 IWF lost money. The last two columns show a portfolio that is 80% IWF 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| IWF iShares Russell 1000 Growth ETF (this page) | 1.00 | +74.1% | 0.62 | −29.3% | −1.7% | −38.1% | −28.1% | −20.9% | 19.3% | +13.5% |
| LVHI InternationalFranklin International Low Volatility High Dividend Index ETF | 0.32 | +119% | 1.48 | +3.8% | −5.2% | — | — | — | 16.1% | +14.5% |
| DXJ InternationalWisdomTree Japan Hedged Equity Fund | 0.46 | +225% | 1.34 | +6.0% | −19.8% | −20.8% | — | — | 16.8% | +16.3% |
| EMLP Broad MarketFirst Trust North American Energy Infrastructure Fund | 0.41 | +101% | 1.04 | +10.4% | −8.7% | — | — | — | 16.8% | +14.2% |
| EWP Broad MarketiShares MSCI Spain ETF | 0.38 | +140% | 0.97 | −5.2% | −15.3% | −36.8% | −13.6% | −9.2% | 17.2% | +15.3% |
| GLD CommoditiesSPDR Gold Shares | 0.09 | +126% | 0.96 | −0.8% | −1.9% | +4.9% | — | — | 16.1% | +15.0% |
| XLE EnergyState Street Energy Select Sector SPDR ETF | 0.07 | +177% | 0.93 | +64.4% | −18.2% | −39.0% | −14.8% | −18.2% | 16.6% | +16.2% |
| AMLP EnergyAlerian MLP ETF | 0.28 | +111% | 0.89 | +25.5% | −12.6% | — | — | — | 16.8% | +14.9% |
| EFV InternationaliShares MSCI EAFE Value ETF | 0.43 | +89.0% | 0.88 | −5.2% | −14.7% | −41.7% | — | — | 17.0% | +14.0% |
Stocks
| Investment | Correlation | 5Y return | Sharpe | 2022 | 2018 | 2008 | 2002 | 2001 | 80/20 mix volatility | 80/20 mix annual return |
|---|---|---|---|---|---|---|---|---|---|---|
| IWF iShares Russell 1000 Growth ETF (this page) | 1.00 | +74.1% | 0.62 | −29.3% | −1.7% | −38.1% | −28.1% | −20.9% | 19.3% | +13.5% |
| CAH Medical - DistributionCardinal Health, Inc. | 0.20 | +479% | 1.55 | +54.1% | −24.5% | −39.6% | −8.3% | −2.5% | 17.3% | +18.8% |
| MCK Medical - DistributionMcKesson Corporation | 0.06 | +413% | 1.44 | +51.8% | −28.4% | −40.4% | −27.2% | +4.9% | 16.5% | +18.3% |
| MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation | 0.12 | +690% | 1.41 | +86.6% | −8.2% | — | — | — | 17.4% | +20.9% |
| HWM Aerospace & DefenseHowmet Aerospace Inc. | 0.42 | +594% | 1.36 | +24.2% | −37.5% | −67.4% | −33.1% | +9.8% | 19.3% | +20.8% |
| ATI Manufacturing - Metal FabricationATI Inc. | 0.23 | +1,008% | 1.34 | +87.5% | −9.8% | −70.0% | −60.8% | +10.3% | 19.9% | +24.0% |
Common questions
What was IWF's worst drawdown?
IWF's deepest decline since it began trading in 2000 was 64.2%, from July 2000 to March 2009. It took about four years from the low to climb back to its old high.
What were IWF's best and worst years?
Over 25 full calendar years, IWF's best year was 2023, when it returned 42.6%. Its worst was 2008, with a return of -38.1%.
Is there a better investment than IWF?
Among IWF's popular alternatives, DYNF earned more than IWF with less volatility over the past 5 years: 14.7% a year at 17.5% volatility, against 11.7% a year at 21.8%. A cheaper fund that has kept up over the past decade is VUG (0.03% a year against 0.18%).
Is IWF more volatile than the S&P 500?
Yes. IWF's volatility over the past 5 years was 21.8%, 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, IWF's return lands within 21.8% 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 IWF's Sharpe ratio?
IWF's Sharpe ratio over the past 5 years was 0.62, against 0.79 for the S&P 500, so IWF 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 IWF with the S&P 500?
Over the past 5 years, IWF's monthly returns had a correlation of 0.94 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 IWF instead: the lower it is, the more that option would diversify a IWF holding.
What are the best alternatives to IWF?
Of the 23 popular alternatives we compared, 13 outperformed IWF in at least 3 of 5 short-term and 2 of 3 long-term timeframes, with dividends reinvested: SCHG, XLK and QQQ.
Did IWF outperform the S&P 500?
IWF finished ahead of the S&P 500 (SPY) in 12 of 25 full calendar years. In 2025, it returned +18.3%, against +17.7% for the index.
How did IWF do in stock market crashes?
IWF fell less than the S&P 500 (SPY) in two of the nine major crashes it has traded through, and further in three. The clearest case was the 2022 bear market, when IWF fell 31.2% and the S&P 500 fell 24.5%.
What diversifies IWF?
These had a low correlation with IWF over the past 5 years and still earned a positive 5-year return: among large ETFs, LVHI (correlation 0.32), DXJ (correlation 0.46) and EMLP (correlation 0.41); among large stocks, CAH (correlation 0.20), MCK (correlation 0.06) and MPC (correlation 0.12). 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 IWF's. Returns within 0.5 points or 3% of IWF'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 IWF
SCHGSchwab U.S. Large-Cap Growth ETF- XLKState Street Technology Select Sector SPDR ETF
QQQInvesco QQQ Trust, Series 1- VUGVanguard Morningstar Growth ETF
SPYGState Street SPDR Portfolio S&P 500 Growth ETF
IVWiShares S&P 500 Growth ETF- DYNFiShares U.S. Equity Factor Rotation Active ETF
- QUALiShares MSCI USA Quality Factor ETF
- IWDiShares Russell 1000 Value ETF
VONGVanguard Russell 1000 Growth ETF
SCHD
NVDA