EZM vs IWR: Grades, Fees and Holdings Compared

WisdomTree U.S. MidCap Fund

EZMCNYSE Arca

iShares Russell Mid-Cap ETF

IWRANYSE Arca

Overlap

17.9%by weight

Expense ratio

IWR −0.20pt a year

EZM0.38%IWR0.18%

Avg volume · 30D

IWR 99.7×the volume

EZM17.9KIWR1.79M

10Y return · a year

IWR +0.8pt

EZM+10.8%IWR+11.6%

EZM vs IWR Performance

Oct 29, 2021 – Oct 30, 2026

+47.9%EZM+42.1%IWR

Expense ratio: EZM 0.38%; IWR 0.18%, better
Fund size: EZM $940M; IWR $58.1B
1Y total return: EZM +17.1%, better; IWR +16.3%
Yield (12M): EZM 1.21%, better; IWR 1.16%
Holdings: EZM 506; IWR 827
Avg volume (30D): EZM 17.9K sh; IWR 1.79M sh, better
NAV per share: EZM $74.91; IWR $110.06
52W range

ETF.net Grade

Pillar letters and Scores for EZM, IWR, with each pillar’s weight
Pillar	EZM	IWR
Cost30% weight	D26	C43Higher
Mission25% weight	A96	A100Higher
Risk15% weight	C49	B68Higher
Tradability15% weight	D28	A93Higher
Holdings10% weight	B61	A83Higher
Durability5% weight	C47	A86Higher

Rank among US Mid-Cap funds

How we build Categories ›

Same Category. EZM and IWR are both graded against the same 13 US Mid-Cap funds, so their Grades compare head to head.

US Mid-Cap⁠

Category · 13 funds

See all 13 ›

IWR ranks 4th and EZM 9th of 13 funds in the US Mid-Cap Category.

Rank 1AIMCBiShares Morningstar Mid-Cap ETFScore 82
Rank 2ASCHMSchwab U.S. Mid-Cap ETFScore 80
Rank 3AVOVanguard Morningstar Mid-Cap ETFScore 79
Rank 4AIWRiShares Russell Mid-Cap ETFScore 74
Rank 5ABKMCBNY Mellon US Mid Cap Core Equity ETFScore 70
Rank 8BIQSMNYLI Candriam U.S. Mid Cap Equity ETFScore 58
Rank 9CEZMWisdomTree U.S. MidCap FundScore 51
Rank 9CFMDEFidelity Enhanced Mid Cap ETFScore 51

Our read on each fund

ETF.net Research

EZMCWisdomTree U.S. MidCap Fund

IWRAiShares Russell Mid-Cap ETF

In short

EZM A 2007-vintage twist on mid caps: EZM's index only takes U.S. companies that actually generate earnings, then holds roughly 600 of them. Profit screen first, size second.

IWR The Russell mid-cap standard: roughly 800 mid-sized US companies in one ticker, tracked since 2001. Big, heavily traded, and priced a notch above the index-fund floor.

Stated mandate

EZM The fund seeks to track earnings-generating mid-cap companies in the U.S. equity market.

IWR The fund seeks to track an index composed of mid-sized U.S. companies.

Why people hold it

EZM The index screens for earnings-generating U.S. mid caps, so unprofitable names don't ride in on size alone.wisdomtree.com
Roughly 600 holdings spread the exposure across the mid-cap field instead of leaning on a handful of names.
Live since 2007, through the financial crisis and everything after, and it pays quarterly.
Stays in its declared lane: U.S., equity, mid cap, tracking the published WisdomTree U.S. MidCap Index with tight fidelity to that mandate.wisdomtree.com

IWR Has tracked the Russell MidCap Index since 2001 and hews to it about as closely as anything in the mid-cap group.ishares.com
Roughly 800 mid-size US names, so no single stock carries the fund.
A multi-billion-dollar fund that trades actively, which tends to keep bid-ask spreads thin for small and large orders alike.
Plain 1940 Act fund paying quarterly distributions. No leverage, no exotic wrapper to babysit.

Worth knowing

EZM The screen costs money: 0.38% a year against a 0.15% category median, while plain cap-weighted rivals VO and SCHM run 0.03%.
It trades thinly next to the category's giants, so spreads can be wider when you go to buy or sell.
An earnings screen builds a different basket than a standard cap-weighted mid-cap index, so results will diverge from that benchmark in both directions.

IWR 0.18% a year, versus 0.03% for mid-cap rivals like VO and SCHM. Same aisle, different sticker.
Different yardstick than several rivals: Russell MidCap rather than a Morningstar mid-cap index, so the holdings and the size cutoffs differ.
All equity, all US. Nothing here (bonds, cash, foreign stocks) cushions a domestic stock selloff.

Full EZM profile⁠

Full IWR profile⁠

EZM vs IWR Holdings

How EZM and IWR differ

Overlap by weight

17.9%

Shared holdings make up 74.9% of EZM and 17.9% of IWR.

Level by level

Holdings310 in both17.9%
Sector11 Sectors88.6%
Countryby domicile98.5%
Asset classEquity100%

Sector

Sector weights in EZM and IWR, widest gap first
Sector	More in EZMMore in IWR	EZM	IWR
Consumer Discretionary	EZM +6.1 points	14.9%	8.8%
Financials	EZM +5.3 points	19.2%	13.9%
Utilities	IWR +2.5 points	3.2%	5.7%
Technology	IWR +2.1 points	13.9%	16.0%
Industrials	IWR +1.6 points	15.3%	16.9%
Real Estate	IWR +1.5 points	4.9%	6.4%
Health Care	IWR +1.4 points	11.4%	12.8%
Materials	IWR +0.8 points	4.0%	4.8%
Communication	IWR +0.7 points	1.8%	2.5%
Consumer Staples	IWR +0.6 points	4.6%	5.2%
Energy	IWR +0.4 points	6.7%	7.1%

Country, concentration and asset class

Country by domicile

Country weights in EZM and IWR, widest gap first
Country	More in EZMMore in IWR	EZM	IWR
United States	EZM +0.7 points	99.1%	98.4%
Other countries (12)	IWR +0.7 points	0.9%	1.6%

Concentration

Weight in the 10 largest Holdings

EZM9.0%
IWR6.5%

Securities held

EZM504
IWR823

Asset class

EZM: Equity
IWR: Equity

Holdings

Only in EZM194
In both310
Only in IWR513

Only in EZM

194 securities, 25.0% of EZM by weight

Jackson Financial Inc-A W/I0.70%
Tg Therapeutics Inc0.39%
Abercrombie & Fitch Co0.37%
Autoliv Inc0.33%
Lantheus Holdings Inc0.32%
Valaris Ltd0.32%
Gap Inc/The0.31%
Alkermes Inc0.31%
Brinker International Inc0.31%
Graham Holdings Co0.30%
UMB Financial Corp0.30%
Old National Bancorp/IN0.29%
Enact Holdings Inc0.29%
Healthsouth Corp0.28%
Warner Music Group Corp-Cl A0.28%
Essent Group Ltd0.27%
Bank of the Ozarks Inc0.27%
Ptc Therapeutics Inc0.26%
Signet Jewelers Ltd0.25%
Southwest Gas Holdings Inc0.24%
Cal-Maine Foods Inc0.24%
Urban Outfitters Inc0.24%
frontdoor Inc0.24%
Springleaf Holdings Inc0.23%
Life Time Group Holdings Inc0.22%
California Resources Corp0.21%
Asbury Automotive Group Inc0.21%
EnerSys0.21%
Meritage Homes Corp0.21%
Radian Group Inc0.21%
Victory Capital Holding - A0.21%
InterDigital Inc/PA0.20%
Amneal Pharmaceuticals Inc0.20%
M/I Homes Inc0.20%
Pacs Group Inc0.20%
Moog Inc0.19%
CNO Financial Group Inc0.19%
Fluor Corp0.19%
U-Store-It Trust0.19%
Brightspring Health Services0.18%
Qualys Inc0.18%
Hancock Whitney Corp0.18%
Marathon Digital Holdings Inc0.18%
Magnolia Oil & Gas Corp0.18%
Valley National Bancorp0.17%
New Jersey Resources Corp0.17%
KB Home0.17%
Haemonetics Corp/Mass0.16%
Gaylord Entertainment Co0.16%
United Bankshares Inc0.16%

Only in IWR

513 securities, 81.9% of IWR by weight

Marathon Petroleum0.96%
Phillips 660.83%
Snowflake0.75%
Cloudflare Class A0.66%
Moderna0.59%
Datadog Inc Class A0.57%
Royal Caribbean Group0.57%
United Rentals0.53%
Hewlett Packard Enterprise0.53%
Simon Property Group Reit Inc0.51%
Cheniere Energy0.51%
Digital Realty Trust Reit0.49%
Targa Resources0.49%
Allstate Corp0.49%
Robinhood Markets Class A0.48%
Kinder Morgan0.48%
Lumentum Holdings0.48%
Cencora0.45%
Oneok0.44%
Nucor0.44%
Fastenal0.44%
Ww Grainger Inc0.43%
Devon Energy0.43%
Cardinal Health0.43%
Natera0.41%
Ametek Inc0.40%
Baker Hughes Class A0.40%
Becton Dickinson0.40%
Realty Income Reit0.39%
Autodesk0.39%
Keysight Technologies0.38%
Edwards Lifesciences0.38%
L3HARRIS Technologies0.38%
Entergy Corp0.38%
Xcel Energy Inc0.36%
Humana0.36%
Agilent Technologies Inc0.36%
Delta Air Lines0.36%
Rockwell Automation Inc0.36%
Ebay0.36%
Fifth Third Bancorp0.36%
Vylor0.36%
PayPal Holdings0.36%
Ford Motor Co0.35%
Exelon Corp0.35%
Westinghouse Air Brake Technologie0.35%
Vivmark Residential0.34%
Nasdaq Inc0.34%
Veeva Systems Class A0.34%
Vistra0.34%

Weight gaps

The 100 widest of 310 Holdings in both funds.

Holding weights in EZM and IWR, widest gap first
Holding	More in EZMMore in IWR	EZM	IWR
Viatris IncVTRS	EZM +1.52 points	1.68%	0.16%
APA CorpAPA	EZM +0.98 points	1.12%	0.14%
CF Industries Holdings IncCF	EZM +0.81 points	0.95%	0.14%
Ovintiv IncOVV	EZM +0.78 points	0.93%	0.15%
Renaissancere Holdings LtdRNR	EZM +0.72 points	0.82%	0.10%
AES Corp/TheAES	EZM +0.61 points	0.69%	0.08%
Skyworks Solutions IncSWKS	EZM +0.60 points	0.75%	0.15%
Sirius Xm Holdings IncSIRI	EZM +0.56 points	0.60%	0.04%
TD Synnex CorpSNX	EZM +0.56 points	0.69%	0.13%
Franklin Resources IncBEN	EZM +0.54 points	0.60%	0.06%
Halozyme Therapeutics IncHALO	EZM +0.52 points	0.63%	0.11%
Lincoln National CorpLNC	EZM +0.51 points	0.54%	0.03%
Penske Auto Group IncPAG	EZM +0.50 points	0.53%	0.03%
DaVita Inc.DVA	EZM +0.48 points	0.53%	0.05%
Permian Resources CorpPR	EZM +0.48 points	0.63%	0.15%
Crocs IncCROX	EZM +0.48 points	0.53%	0.05%
Globe Life IncGL	EZM +0.46 points	0.55%	0.09%
Matador Resources CoMTDR	EZM +0.46 points	0.51%	0.05%
Entegris IncENTG	EZM +0.44 points	0.61%	0.17%
Chord Energy CorpCHRD	EZM +0.43 points	0.50%	0.07%
BorgWarner IncBWA	EZM +0.43 points	0.51%	0.08%
JM Smucker Co/TheSJM	EZM +0.44 points	0.54%	0.10%
Pilgrim's Pride CorpPPC	EZM +0.43 points	0.44%	<0.01%
Pinnacle Financial PartnersPNFP	EZM +0.42 points	0.53%	0.11%
HF Sinclair CorpDINO	EZM +0.40 points	0.53%	0.13%
Dropbox Inc-Class ADBX	EZM +0.40 points	0.44%	0.04%
Exelixis IncEXEL	EZM +0.39 points	0.52%	0.13%
ADT IncADT	EZM +0.38 points	0.42%	0.04%
Crown Holdings IncCCK	EZM +0.38 points	0.47%	0.09%
Ingram Micro Holding CorpINGM	EZM +0.37 points	0.38%	0.01%
Albertsons Cos Inc - Class AACI	EZM +0.37 points	0.40%	0.03%
Science Applications International CorpSAIC	EZM +0.35 points	0.40%	0.05%
Assurant IncAIZ	EZM +0.35 points	0.45%	0.10%
Axis Capital Holdings LtdAXS	EZM +0.35 points	0.40%	0.05%
Norwegian Cruise Line HoldingsNCLH	EZM +0.35 points	0.41%	0.06%
Stanley Black & Decker Inc.SWK	EZM +0.35 points	0.46%	0.11%
Voya Financial IncVOYA	EZM +0.34 points	0.41%	0.07%
Brown-Forman CorpBF.A	EZM +0.34 points	0.35%	<0.01%
Host Hotels & Resorts IncHST	EZM +0.33 points	0.46%	0.13%
Avantor IncAVTR	EZM +0.33 points	0.41%	0.08%
Charles River Laboratories IntlCRL	EZM +0.33 points	0.46%	0.13%
Range Resources CorpRRC	EZM +0.33 points	0.42%	0.09%
Lithia Motors IncLAD	EZM +0.32 points	0.37%	0.05%
Smithfield Foods IncSFD	EZM +0.32 points	0.33%	<0.01%
Affiliated Managers Group IncAMG	EZM +0.32 points	0.39%	0.07%
Vornado Realty TrustVNO	EZM +0.31 points	0.35%	0.04%
Ryder System IncR	EZM +0.30 points	0.38%	0.08%
Eastman Chemical CoEMN	EZM +0.30 points	0.36%	0.06%
Allison Transmission HoldingsALSN	EZM +0.30 points	0.37%	0.07%
Bath & Body Works IncBBWI	EZM +0.30 points	0.33%	0.03%
Coca-Cola Consolidated IncCOKE	EZM +0.29 points	0.38%	0.09%
Paycom Software IncPAYC	EZM +0.29 points	0.37%	0.08%
H&R Block IncHRB	EZM +0.29 points	0.34%	0.05%
Popular IncBPOP	EZM +0.30 points	0.37%	0.07%
Invesco LtdIVZ	EZM +0.29 points	0.36%	0.07%
Zions BancorporationZION	EZM +0.28 points	0.35%	0.07%
Alcoa IncAA	EZM +0.28 points	0.36%	0.08%
Booz Allen Hamilton Holding CoBAH	EZM +0.28 points	0.36%	0.08%
Hasbro IncHAS	EZM +0.29 points	0.41%	0.12%
Oshkosh CorpOSK	EZM +0.29 points	0.35%	0.06%
Lattice Semiconductor CorpLSCC	EZM +0.28 points	0.38%	0.10%
Macy's IncM	EZM +0.27 points	0.32%	0.05%
First Horizon CorpFHN	EZM +0.27 points	0.35%	0.08%
Carmax IncKMX	EZM +0.27 points	0.33%	0.06%
Lear CorpLEA	EZM +0.28 points	0.32%	0.04%
American Financial Group IncAFG	EZM +0.27 points	0.34%	0.07%
UGI CorpUGI	EZM +0.27 points	0.33%	0.06%
Sonoco Products CoSON	EZM +0.26 points	0.30%	0.04%
Sitime CorpSITM	EZM +0.26 points	0.33%	0.07%
Revvity IncRVTY	EZM +0.26 points	0.39%	0.13%
Autonation IncAN	EZM +0.26 points	0.29%	0.03%
Hanover Insurance Group Inc/TheTHG	EZM +0.26 points	0.32%	0.06%
Campbell Soup CoCPB	EZM +0.25 points	0.28%	0.03%
Ingredion IncINGR	EZM +0.25 points	0.29%	0.04%
Henry Schein IncHSIC	EZM +0.25 points	0.31%	0.06%
Match Group IncMTCH	EZM +0.24 points	0.31%	0.07%
Regal Rexnord CorpRRX	EZM +0.24 points	0.32%	0.08%
Essential Utilities IncWTRG	EZM +0.24 points	0.33%	0.09%
Mohawk Industries IncMHK	EZM +0.24 points	0.30%	0.06%
PVH CorpPVH	EZM +0.24 points	0.27%	0.03%
Maplebear IncCART	EZM +0.24 points	0.30%	0.06%
Rambus IncRMBS	EZM +0.23 points	0.30%	0.07%
Murphy USA IncMUSA	EZM +0.23 points	0.30%	0.07%
Western Alliance BancorpWAL	EZM +0.23 points	0.29%	0.06%
Align Technology IncALGN	EZM +0.23 points	0.30%	0.07%
Sterling Construction Co IncSTRL	EZM +0.22 points	0.30%	0.08%
Sensata Technologies HoldingST	EZM +0.23 points	0.27%	0.04%
Mueller Industries IncMLI	EZM +0.22 points	0.31%	0.09%
Axalta Coating Systems LtdAXTA	EZM +0.23 points	0.28%	0.05%
American Airlines Group IncAAL	EZM +0.22 points	0.28%	0.06%
Gaming & Leisure Porperties IncGLPI	EZM +0.22 points	0.30%	0.08%
MGIC Investment CorpMTG	EZM +0.23 points	0.27%	0.04%
Toro CoTTC	EZM +0.23 points	0.30%	0.07%
Mosaic Co/TheMOS	EZM +0.22 points	0.26%	0.04%
Pinnacle West Capital CorpPNW	EZM +0.22 points	0.31%	0.09%
Wintrust Financial CorpWTFC	EZM +0.22 points	0.29%	0.07%
Dillard's IncDDS	EZM +0.21 points	0.23%	0.02%
Primerica IncPRI	EZM +0.22 points	0.28%	0.06%
National Fuel Gas CoNFG	EZM +0.22 points	0.27%	0.05%
Antero Resources CorpAR	EZM +0.21 points	0.30%	0.09%

All 556 EZM holdings⁠All 823 IWR holdings⁠

How we measure overlap

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

EZM vs IWR Cost

Overpaying EZM vs IWR

$3,957

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

EZM 0.38%
$7,706
IWR 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

EZM 0.38%
IWR 0.18%
Overpaying

Year by year

Year	EZM	IWR	Overpaying
10	$688	$328	$360
20	$2,658	$1,281	$1,377
30	$7,706	$3,749	$3,957

Expense ratio

0.38%EZM
0.18%IWR, cheaper

IWR0.18%EZM0.38%

0.03%0.79%

Middle half of US Mid-Cap funds
Median 0.15%

IWR 8th cheapest of 13 funds

EZM 10th cheapest of 13 funds

EZM vs IWR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): EZM 1.21%, better; IWR 1.16%
Payout (12M): EZM $0.90; IWR $1.27
Last payment: EZM $0.22; IWR $0.33
Ex-dividend: EZM Sep 25, 2026; IWR Sep 15, 2026
Paid on: EZM Sep 29, 2026; IWR Sep 18, 2026
Frequency: EZM Quarterly; IWR Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

EZMQuarterly · 40 paymentsAll EZM payments⁠

IWRQuarterly · 36 paymentsAll IWR payments⁠

EZM vs IWR Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: EZM 16.0%IWR 14.1%, better
Return per unit of riskSharpe ratio, 3 years: EZM 0.83IWR 1.08, better
Worst fallMax drawdown, 5 years: EZM −23.5%, betterIWR −26.2%
Market sensitivityBeta, 5 years: EZM 1.02IWR 1.01; Market = 1

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