ILCG vs IWP: Grades, Fees and Holdings Compared

iShares Morningstar Growth ETF

ILCGANYSE Arca

iShares Russell Mid-Cap Growth ETF

IWPBNYSE Arca

Overlap

9.6%by weight

Expense ratio

ILCG −0.19pt a year

ILCG0.04%IWP0.23%

Avg volume · 30D

IWP 11.1×the volume

ILCG70.4KIWP778K

10Y return · a year

ILCG +5.7pt

ILCG+17.3%IWP+11.6%

ILCG vs IWP Performance

Oct 29, 2021 – Oct 30, 2026

+59.5%ILCG+12.4%IWP

Expense ratio: ILCG 0.04%, better; IWP 0.23%
Fund size: ILCG $3B; IWP $18.5B
1Y total return: ILCG +3.2%, better; IWP −7.0%
Yield (12M): ILCG 0.44%, better; IWP 0.40%
Holdings: ILCG 328; IWP 275
Avg volume (30D): ILCG 70.4K sh; IWP 778K sh, better
NAV per share: ILCG $109.98; IWP $131.67
52W range

ETF.net Grade

Pillar letters and Scores for ILCG, IWP, with each pillar’s weight
Pillar	ILCG	IWP
Cost30% weight	A96Higher	D37
Mission25% weight	A100Higher	A96
Risk15% weight	C44Higher	D33
Tradability15% weight	B64	A76Higher
Holdings10% weight	C49	A71Higher
Durability5% weight	B64	B69Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. ILCG and IWP are both graded against the same 35 US Growth Index funds, so their Grades compare head to head.

US Growth Index⁠

Category · 35 funds

See all 35 ›

ILCG ranks 2nd and IWP 16th of 35 funds in the US Growth Index Category.

Rank 1ASPYGState Street SPDR Portfolio S&P 500 Growth ETFScore 84
Rank 2AILCGiShares Morningstar Growth ETFScore 78
Rank 2AIMCGiShares Morningstar Mid-Cap Growth ETFScore 78
Rank 14BVTWGVanguard Russell 2000 Growth ETFScore 66
Rank 16BIWPiShares Russell Mid-Cap Growth ETFScore 61
Rank 16BSTXGStrive 1000 Growth ETFScore 61

Our read on each fund

ETF.net Research

ILCGAiShares Morningstar Growth ETF

IWPBiShares Russell Mid-Cap Growth ETF

In short

ILCG Growth by Morningstar's rulebook. A 2004-vintage iShares fund that screens large and mid caps for above-average earnings, sales, cash-flow and book-value growth, and charges four basis points to do it.

IWP Mid-cap growth, undiluted: about 300 US companies too big to be startups, too small to be mega-caps, screened by Russell for growth traits. Trading since 2001, which makes it one of the elders of the style.

Stated mandate

ILCG The fund aims to follow an index of U.S. large- and mid-cap stocks chosen for above-average earnings, sales, cash-flow, and book-value growth.

IWP The fund seeks to follow an index of U.S. mid-cap stocks selected for growth characteristics, including measures such as growth forecasts and sales growth.

Why people hold it

ILCG 0.04% a year. The typical fund in its factor peer group charges roughly eight times that, so almost none of the return leaks out the fee door.
Uses Morningstar's growth definition (earnings, sales, cash flow, book value) rather than S&P's or Russell's, and reaches into mid caps, not just the S&P 500.ishares.com
Trading since 2004, a multi-billion-dollar fund holding roughly 300 stocks. Long-running plumbing, not a launch-week experiment.
Tracking has been tight, and the fund sits in the upper half of its factor cohort overall, with cost doing much of the heavy lifting.

IWP Does what the label says: follows the Russell MidCap Growth Index closely, holding roughly 300 stocks with no manager guesswork layered on top.
Open since 2001 and now a multi-billion-dollar fund that trades actively, so buying and selling rarely means wrestling with a wide spread.
Fills the gap the giants skip. The cheapest, best-known growth ETFs (VUG, SCHG, SPYG) are large-cap builds; this one stakes out the middle tier of the market.
Distributions land on a quarterly schedule, and the mandate stays entirely in US-listed equities.

Worth knowing

ILCG Pure growth means no value ballast, and the ride has been bumpier than most funds in its factor group. The style can sit out of favor for long stretches.
Concentration runs high for the cohort: cap-weighted growth screens funnel a big share of the fund into the same handful of mega-cap names.
Moderately traded, not a tape leader. Sibling IUSG applies S&P's growth definition at the same 0.04%, so the pick is which index rulebook you prefer.

IWP Price of admission: 0.23% a year, above the typical fund in its growth group, and well above large-cap growth rivals that charge a few basis points.
Growth-priced mid-caps are among the choppier corners of the US equity market, and this fund holds them straight, with no value ballast.
One style, one size band. Mid-cap value names and large-cap leaders sit outside the index, so this is a slice, not a core US holding.

Full ILCG profile⁠

Full IWP profile⁠

ILCG vs IWP Holdings

How ILCG and IWP differ

Overlap by weight

9.6%

Shared holdings make up 75.2% of IWP and 9.8% of ILCG.

Level by level

Holdings110 in both9.6%
Sector11 Sectors75.7%
Countryby domicile99.3%
Asset classEquity100%

Sector

Sector weights in ILCG and IWP, widest gap first
Sector	More in ILCGMore in IWP	ILCG	IWP
Technology	ILCG +20.4 points	53.5%	33.1%
Industrials	IWP +7.9 points	9.7%	17.6%
Health Care	IWP +7.8 points	6.5%	14.4%
Energy	IWP +4.3 points	0.8%	5.1%
Communication	ILCG +3.4 points	8.5%	5.1%
Consumer Discretionary	IWP +1.5 points	9.7%	11.2%
Utilities	IWP +1.5 points	0.9%	2.4%
Real Estate	IWP +0.7 points	1.6%	2.3%
Financials	ILCG +0.5 points	5.5%	5.0%
Materials	IWP +0.3 points	1.4%	1.7%
Consumer Staples	IWP +0.3 points	1.8%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in ILCG and IWP, widest gap first
Country	More in ILCGMore in IWP	ILCG	IWP
United States	ILCG +0.3 points	99.5%	99.2%
Canada	IWP +0.5 points	0.0%	0.5%
United Kingdom	IWP +0.2 points	0.1%	0.3%
China	ILCG +0.1 points	0.1%	0.0%
Brazil	ILCG +0.1 points	0.1%	0.0%
Mexico	ILCG +0.1 points	0.1%	0.0%
Switzerland	ILCG +0.1 points	0.1%	0.0%
Australia	Same weight	0.0%	0.0%
Other countries (2)	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

ILCG49.8%
IWP21.6%

Securities held

ILCG325
IWP272

Asset class

ILCG: Equity
IWP: Equity

Holdings

Only in ILCG215
In both110
Only in IWP162

Only in ILCG

215 securities, 90.2% of ILCG by weight

NVIDIA15.40%
Apple8.12%
Broadcom Inc4.92%
Amazon.com Inc4.21%
Eli Lilly3.66%
Microsoft3.08%
Alphabet Class A3.01%
Advanced Micro Devices2.66%
Alphabet Class C2.43%
Tesla Inc2.26%
Micron Technology1.77%
Meta Platforms Class A1.59%
Palantir Technologies Class A1.32%
Visa Class A1.14%
Ge Aerospace1.01%
Applied Material Inc1.00%
Intel Corporation0.99%
Lam Research0.97%
Palo Alto Networks0.96%
Mastercard Class A0.94%
Netflix0.84%
Crowdstrike Holdings Class A0.80%
Ge Vernova0.74%
Walmart0.69%
Kla0.67%
Costco Wholesale Corp0.63%
Amphenol Corp Class A0.63%
Arista Networks0.56%
Marvell Technology0.55%
Welltower0.55%
Caterpillar Inc0.51%
Intuitive Surgical0.49%
Seagate Technology Holdings PLC0.47%
Boeing0.44%
Western Digital Corp0.43%
Texas Instrument0.40%
Analog Devices0.35%
Servicenow0.35%
Oracle0.35%
Corning0.32%
Quanta Services Inc0.30%
Cadence Design Systems0.29%
Johnson Controls International PLC0.29%
Freeport Mcmoran Inc0.29%
Vertiv Holdings Class A0.28%
Dell Technologies Inc Class C0.28%
Fortinet0.27%
Motorola Solutions Inc0.26%
Howmet Aerospace0.26%
Deere0.25%

Only in IWP

162 securities, 24.8% of IWP by weight

Anglogold Ashanti PLC1.11%
Atlassian Corp Class A0.93%
Guardant Health0.62%
Roku Class A0.58%
Ftai Aviation0.58%
Sysco0.57%
Viking Holdings Ltd0.47%
Halozyme Therapeutics0.47%
Gartner0.45%
Godaddy Class A0.45%
Medpace Holdings0.45%
Samsara Class A0.45%
Manhattan Associates0.44%
Restaurants Brands International0.43%
Rubrik Class A0.39%
Ascendis Pharma0.38%
Neurocrine Biosciences0.38%
Penumbra0.37%
Bridgebio Pharma0.36%
Semtech0.36%
Kimberly Clark0.35%
Sterling Infrastructure0.32%
Insulet0.32%
Hubspot0.31%
Draftkings Class A0.30%
Sitime0.30%
Solstice Advanced Materials Inc0.29%
Rambus0.28%
Ralph Lauren Class A0.28%
Murphy Usa0.27%
Digitalocean Holdings0.27%
American Airlines Group0.25%
Advanced Energy Industries0.24%
Equitable Holdings0.24%
Tempus Ai Class A0.24%
Madrigal Pharmaceuticals0.23%
Corcept Therapeutics0.23%
On Holding AG Class A0.23%
Procore Technologies Inc0.23%
Viavi Solutions0.22%
Guidewire Software0.22%
Phillips 660.21%
Hyatt Hotels Corp Class A0.21%
Formfactor Inc0.21%
Ionis Pharmaceuticals0.21%
Modine Manufacturing0.21%
Axsome Therapeutics0.19%
Nvr0.18%
Cava Group0.18%
Sentinelone Inc Class A0.17%

Weight gaps

The 100 widest of 110 Holdings in both funds.

Holding weights in ILCG and IWP, widest gap first
Holding	More in ILCGMore in IWP	ILCG	IWP
SnowflakeSNOW	IWP +2.79 points	0.33%	3.12%
Cloudflare Class ANET	IWP +2.44 points	0.29%	2.73%
Datadog Inc Class ADDOG	IWP +2.10 points	0.25%	2.35%
Simon Property Group Reit IncSPG	IWP +2.01 points	0.11%	2.12%
Targa ResourcesTRGP	IWP +1.94 points	0.10%	2.04%
Marathon PetroleumMPC	IWP +1.83 points	0.20%	2.03%
Lumentum HoldingsLITE	IWP +1.74 points	0.24%	1.98%
CencoraCOR	IWP +1.68 points	0.20%	1.88%
NateraNTRA	IWP +1.54 points	0.18%	1.72%
AutodeskADSK	IWP +1.43 points	0.17%	1.60%
Robinhood Markets Class AHOOD	IWP +1.44 points	0.21%	1.65%
Ww Grainger IncGWW	IWP +1.35 points	0.19%	1.54%
FastenalFAST	IWP +1.29 points	0.19%	1.48%
VistraVST	IWP +1.27 points	0.15%	1.42%
Comfort Systems UsaFIX	IWP +1.17 points	0.14%	1.31%
TeradyneTER	IWP +1.17 points	0.14%	1.31%
Microchip Technology IncMCHP	IWP +1.11 points	0.14%	1.25%
Chipotle Mexican GrillCMG	IWP +1.10 points	0.13%	1.23%
Royal Caribbean GroupRCL	IWP +1.08 points	0.25%	1.33%
Astera LabsALAB	IWP +1.08 points	0.13%	1.21%
Rockwell Automation IncROK	IWP +1.07 points	0.16%	1.23%
Revolution MedicinesRVMD	IWP +1.06 points	0.05%	1.11%
Idexx LaboratoriesIDXX	IWP +0.98 points	0.13%	1.11%
Take Two Interactive SoftwareTTWO	IWP +0.95 points	0.11%	1.06%
Expedia GroupEXPE	IWP +0.93 points	0.06%	0.99%
Everpure Inc Class AP	IWP +0.91 points	0.13%	1.04%
Axon EnterpriseAXON	IWP +0.90 points	0.11%	1.01%
Dexcom IncDXCM	IWP +0.84 points	0.10%	0.94%
Rocket Lab CorpRKLB	IWP +0.83 points	0.10%	0.93%
Emcor GroupEME	IWP +0.82 points	0.09%	0.91%
Live Nation EntertainmentLYV	IWP +0.79 points	0.08%	0.87%
JabilJBL	IWP +0.78 points	0.09%	0.87%
Zoetis Inc Class AZTS	IWP +0.76 points	0.04%	0.80%
Roblox Class ARBLX	IWP +0.74 points	0.09%	0.83%
Keysight TechnologiesKEYS	IWP +0.74 points	0.17%	0.91%
Darden Restaurants IncDRI	IWP +0.73 points	0.04%	0.77%
Cardinal HealthCAH	IWP +0.72 points	0.10%	0.82%
Credo Technology Group Holding LtdCRDO	IWP +0.69 points	0.08%	0.77%
Ares Management Class AARES	IWP +0.68 points	0.09%	0.77%
ZscalerZS	IWP +0.68 points	0.08%	0.76%
Mongodb Class AMDB	IWP +0.67 points	0.09%	0.76%
TapestryTPR	IWP +0.67 points	0.05%	0.72%
InsmedINSM	IWP +0.66 points	0.08%	0.74%
AtiATI	IWP +0.61 points	0.07%	0.68%
Alnylam PharmaceuticalsALNY	IWP +0.60 points	0.07%	0.67%
Caseys General Stores IncCASY	IWP +0.60 points	0.08%	0.68%
XpoXPO	IWP +0.59 points	0.07%	0.66%
Nrg Energy IncNRG	IWP +0.57 points	0.03%	0.59%
Affirm Holdings Class AAFRM	IWP +0.56 points	0.07%	0.63%
Texas Pacific LandTPL	IWP +0.53 points	0.06%	0.59%
WoodwardWWD	IWP +0.49 points	0.06%	0.55%
Heico Class AHEI.A	IWP +0.49 points	0.06%	0.55%
Coupang Class ACPNG	IWP +0.49 points	0.06%	0.55%
Coreweave Class ACRWV	IWP +0.48 points	0.04%	0.52%
Macom Technology SolutionsMTSI	IWP +0.44 points	0.05%	0.49%
Toast Class ATOST	IWP +0.41 points	0.05%	0.46%
Burlington StoresBURL	IWP +0.40 points	0.05%	0.45%
Netapp IncNTAP	IWP +0.38 points	0.04%	0.42%
HeicoHEI	IWP +0.38 points	0.04%	0.42%
Carpenter TechnologyCRS	IWP +0.38 points	0.04%	0.42%
Ch Robinson WorldwideCHRW	IWP +0.36 points	0.05%	0.41%
Lattice SemiconductorLSCC	IWP +0.36 points	0.04%	0.40%
United RentalsURI	IWP +0.35 points	0.16%	0.51%
Reddit Class ARDDT	IWP +0.34 points	0.04%	0.38%
Fair IsaacFICO	IWP +0.32 points	0.05%	0.37%
Mastec IncMTZ	IWP +0.32 points	0.04%	0.36%
FabrinetFN	IWP +0.32 points	0.04%	0.36%
Echostar Class AECHO	IWP +0.31 points	0.04%	0.35%
Bwx Technologies IncBWXT	IWP +0.31 points	0.04%	0.35%
Yum BrandsYUM	IWP +0.30 points	0.09%	0.39%
Talen EnergyTLN	IWP +0.31 points	0.02%	0.33%
Las Vegas SandsLVS	IWP +0.28 points	0.02%	0.30%
Rollins IncROL	IWP +0.27 points	0.04%	0.31%
Technipfmc PLCFTI	IWP +0.26 points	0.06%	0.32%
Ast Spacemobile Class AASTS	IWP +0.26 points	0.04%	0.30%
EbayEBAY	IWP +0.25 points	0.07%	0.32%
CorpayCPAY	IWP +0.24 points	0.04%	0.28%
Curtiss WrightCW	IWP +0.21 points	0.06%	0.27%
Ttm Technologies IncTTMI	IWP +0.19 points	0.03%	0.22%
Nvent Electric PLCNVT	IWP +0.18 points	0.07%	0.25%
Lpl Financial HoldingsLPLA	IWP +0.18 points	0.07%	0.25%
Ulta Beauty IncULTA	IWP +0.13 points	0.05%	0.18%
CoherentCOHR	IWP +0.12 points	0.13%	0.25%
Tko Group Holdings Inc Class ATKO	IWP +0.11 points	0.02%	0.13%
Old Dominion Freight LineODFL	IWP +0.10 points	0.10%	0.20%
MsciMSCI	ILCG +0.07 points	0.14%	0.07%
Williams Sonoma IncWSM	IWP +0.07 points	0.04%	0.11%
Lennox InternationalLII	IWP +0.06 points	0.04%	0.10%
Summit TherapeuticsSMMT	IWP +0.06 points	<0.01%	0.07%
Estee Lauder Inc Class AEL	IWP +0.06 points	0.09%	0.15%
Cbre Group Class ACBRE	IWP +0.06 points	0.05%	0.11%
Ameriprise Finance IncAMP	IWP +0.05 points	0.06%	0.11%
On Semiconductor CorpON	ILCG +0.05 points	0.09%	0.04%
Twilio Class ATWLO	IWP +0.04 points	0.10%	0.14%
Clean Harbors IncCLH	IWP +0.04 points	0.05%	0.09%
Rbc BearingsRBC	IWP +0.03 points	0.05%	0.08%
Rivian Automotive Class ARIVN	IWP +0.03 points	0.02%	0.05%
Centene CorpCNC	IWP +0.02 points	0.06%	0.08%
Entegris IncENTG	IWP +0.02 points	0.08%	0.10%
Hershey FoodsHSY	IWP +0.03 points	0.05%	0.08%

All 325 ILCG holdings⁠All 272 IWP 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.

ILCG vs IWP Cost

Overpaying IWP vs ILCG

$3,910

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

ILCG 0.04%
$849
IWP 0.23%
$4,759

Amount$10,000

Years30 years

Cost over time

ILCG 0.04%
IWP 0.23%
Overpaying

Year by year

Year	ILCG	IWP	Overpaying
10	$73	$419	$346
20	$288	$1,630	$1,342
30	$849	$4,759	$3,910

Expense ratio

0.04%ILCG, cheaper
0.23%IWP

ILCG0.04%IWP0.23%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

ILCG 2nd cheapest of 35 funds

IWP 22nd cheapest of 35 funds

ILCG vs IWP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCG 0.44%, better; IWP 0.40%
Payout (12M): ILCG $0.48; IWP $0.53
Last payment: ILCG $0.14; IWP $0.15
Ex-dividend: ILCG Sep 15, 2026; IWP Sep 15, 2026
Paid on: ILCG Sep 18, 2026; IWP Sep 18, 2026
Frequency: ILCG Quarterly; IWP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCGQuarterly · 40 paymentsAll ILCG payments⁠

IWPQuarterly · 40 paymentsAll IWP payments⁠

ILCG vs IWP Risk

Fall from peak · 5 years

ILCG
IWP

Risk facts

VolatilityStd dev, 3 years: ILCG 17.8%IWP 17.8%
Return per unit of riskSharpe ratio, 3 years: ILCG 1.06, betterIWP 0.65
Worst fallMax drawdown, 5 years: ILCG −35.4%, betterIWP −38.6%
Market sensitivityBeta, 5 years: ILCG 1.23IWP 1.13; Market = 1

ILCG and IWP in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026ILCG
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026IWP

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ILCG vs IWP

In short

Stated mandate

Why people hold it

Worth knowing

How ILCG and IWP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

Only in IWP

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best growth ETF is the cheap one on the index you want

GMO's ETF share class costs more than the fund's $35 million Class III shares

How ILCG and IWP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

Only in IWP

Weight gaps