ILCG vs IWY: Grades, Fees and Holdings Compared

iShares Morningstar Growth ETF

ILCGANYSE Arca

iShares Russell Top 200 Growth ETF

IWYBNYSE Arca

Overlap

71.2%by weight

Expense ratio

ILCG −0.16pt a year

ILCG0.04%IWY0.20%

Avg volume · 30D

IWY 5.2×the volume

ILCG70.4KIWY368K

10Y return · a year

IWY +1.2pt

ILCG+17.3%IWY+18.5%

ILCG vs IWY Performance

Oct 29, 2021 – Oct 30, 2026

+59.5%ILCG+71.1%IWY

Expense ratio: ILCG 0.04%, better; IWY 0.20%
Fund size: ILCG $3B; IWY $15.1B
1Y total return: ILCG +3.2%, better; IWY −2.3%
Yield (12M): ILCG 0.44%, better; IWY 0.35%
Holdings: ILCG 328; IWY 103
Avg volume (30D): ILCG 70.4K sh; IWY 368K sh, better
NAV per share: ILCG $109.98; IWY $276.89
52W range

ETF.net Grade

Pillar letters and Scores for ILCG, IWY, with each pillar’s weight
Pillar	ILCG	IWY
Cost30% weight	A96Higher	C41
Mission25% weight	A100	A100
Risk15% weight	C44Higher	D28
Tradability15% weight	B64	A76Higher
Holdings10% weight	C49Higher	D35
Durability5% weight	B64	B69Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. ILCG and IWY 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 IWY 19th 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 19BIWOiShares Russell 2000 Growth ETFScore 59
Rank 19BIWYiShares Russell Top 200 Growth ETFScore 59
Rank 19BSNPGXtrackers S&P 500 Growth Scored & Screened ETFScore 59

Our read on each fund

ETF.net Research

ILCGAiShares Morningstar Growth ETF

IWYBiShares Russell Top 200 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.

IWY IWY takes the growth half of America's largest companies: about 100 stocks from the Russell Top 200 Growth Index, screened on growth forecasts and sales growth. Big-company growth, and only big-company growth.

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.

IWY The fund seeks to track an index of large-capitalization U.S. equities selected for growth characteristics, including growth forecasts and sales growth. It provides targeted exposure to U.S. large-cap growth stocks.

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.

IWY The mandate is literal. An index of large-cap US names selected on growth forecasts and sales growth, and a portfolio that stays tightly matched to it.ishares.com
About 100 holdings, so you get concentrated growth exposure rather than a diluted slice of the whole market wearing a growth label.
Live since 2009 and a multi-billion-dollar fund under the iShares roof, with the operational track record that implies.

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.

IWY At 0.20% a year it costs more than the cheapest large-cap growth trackers: VUG charges 0.03% and SCHG 0.04%.
A roughly 100-stock big-cap growth roster concentrates the outcome in a handful of household names. It rides with them in both directions.
Distributions arrive quarterly, but a growth screen leans toward companies that reinvest rather than pay out. Income is a byproduct here.

Full ILCG profile⁠

Full IWY profile⁠

ILCG vs IWY Holdings

How ILCG and IWY differ

Overlap by weight

71.2%

Shared holdings make up 95.0% of IWY and 78.2% of ILCG.

Level by level

Holdings79 in both71.2%
Sector11 Sectors90.0%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in ILCG and IWY, widest gap first
Sector	More in ILCGMore in IWY	ILCG	IWY
Communication	IWY +6.4 points	8.5%	14.9%
Technology	IWY +3.5 points	53.5%	57.0%
Industrials	ILCG +3.0 points	9.7%	6.7%
Consumer Discretionary	ILCG +1.4 points	9.7%	8.3%
Real Estate	ILCG +1.4 points	1.6%	0.2%
Materials	ILCG +1.3 points	1.4%	0.1%
Utilities	ILCG +0.9 points	0.9%	0.0%
Health Care	ILCG +0.8 points	6.5%	5.8%
Energy	ILCG +0.7 points	0.8%	0.1%
Consumer Staples	ILCG +0.4 points	1.8%	1.4%
Financials	IWY +0.2 points	5.5%	5.7%

Country, concentration and asset class

Country by domicile

Country weights in ILCG and IWY, widest gap first
Country	More in ILCGMore in IWY	ILCG	IWY
United States	IWY +0.3 points	99.5%	99.8%
Brazil	IWY +0.1 points	0.1%	0.2%
China	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%
United Kingdom	ILCG +0.1 points	0.1%	0.0%
Canada	IWY +0.1 points	0.0%	0.1%

Concentration

Weight in the 10 largest Holdings

ILCG49.8%
IWY60.5%

Securities held

ILCG325
IWY101

Asset class

ILCG: Equity
IWY: Equity

Holdings

Only in ILCG246
In both79
Only in IWY22

Only in ILCG

246 securities, 21.7% of ILCG by weight

Intel Corporation0.99%
Welltower0.55%
Seagate Technology Holdings PLC0.47%
Snowflake0.33%
Cloudflare Class A0.29%
Freeport Mcmoran Inc0.29%
Deere0.25%
Datadog Inc Class A0.25%
Royal Caribbean Group0.25%
Ecolab0.25%
Lumentum Holdings0.24%
Oreilly Automotive Inc0.23%
Aon PLC Class A0.22%
Robinhood Markets Class A0.21%
Csx0.21%
Cencora0.20%
Marathon Petroleum0.20%
Ww Grainger Inc0.19%
Fastenal0.19%
Equinix Reit0.18%
Natera0.18%
Emerson Electric0.18%
Ametek Inc0.18%
Baker Hughes Class A0.18%
Synopsys0.18%
Autodesk0.17%
Keysight Technologies0.17%
Edwards Lifesciences0.17%
United Rentals0.16%
Rockwell Automation Inc0.16%
Westinghouse Air Brake Technologie0.15%
Veeva Systems Class A0.15%
Nasdaq Inc0.15%
Vistra0.15%
Msci0.14%
S&P Global0.14%
Parker-Hannifin0.14%
Ventas Reit0.14%
Nxp Semiconductors NV0.14%
Teradyne0.14%
Digital Realty Trust Reit0.14%
Arthur J Gallagher0.14%
Comfort Systems Usa0.14%
Vertex Pharmaceuticals0.14%
Microchip Technology Inc0.14%
Idexx Laboratories0.13%
Block Class A0.13%
Astera Labs0.13%
Everpure Inc Class A0.13%
Chipotle Mexican Grill0.13%

Only in IWY

22 securities, 5.0% of IWY by weight

Home Depot0.93%
Amgen Inc0.68%
Lockheed Martin0.49%
Booking Holdings0.44%
Spotify Technology0.36%
Space Exploration Technologies Cor0.29%
Adobe Inc0.26%
American Tower Reit0.22%
Automatic Data Processing Inc0.17%
Coca-Cola0.16%
AbbVie0.16%
Nu Holdings Class A0.15%
Citigroup0.12%
Intuit0.11%
Waste Management Inc0.09%
Pepsico0.08%
Bank of America0.08%
Brookfield Asset Management Voting0.06%
Valero Energy Corp0.05%
3M0.05%
Union Pacific0.05%
Southern Copper Corp0.01%

Weight gaps

All 79 Holdings in both funds, largest gap first.

Holding weights in ILCG and IWY, widest gap first
Holding	More in ILCGMore in IWY	ILCG	IWY
Amazon.com IncAMZN	ILCG +3.47 points	4.21%	0.74%
MicrosoftMSFT	IWY +3.39 points	3.08%	6.47%
Meta Platforms Class AMETA	IWY +2.36 points	1.59%	3.95%
Alphabet Class AGOOGL	IWY +2.13 points	3.01%	5.14%
Tesla IncTSLA	IWY +2.02 points	2.26%	4.28%
Micron TechnologyMU	IWY +1.83 points	1.77%	3.60%
Alphabet Class CGOOG	IWY +1.74 points	2.43%	4.17%
Visa Class AV	IWY +1.54 points	1.14%	2.68%
Mastercard Class AMA	IWY +1.03 points	0.94%	1.97%
NVIDIANVDA	ILCG +0.65 points	15.40%	14.75%
Texas InstrumentTXN	IWY +0.65 points	0.40%	1.05%
AppleAAPL	IWY +0.59 points	8.12%	8.71%
Caterpillar IncCAT	IWY +0.57 points	0.51%	1.08%
Eli LillyLLY	IWY +0.57 points	3.66%	4.23%
WalmartWMT	ILCG +0.51 points	0.69%	0.18%
OracleORCL	IWY +0.51 points	0.35%	0.86%
SandiskSNDK	IWY +0.39 points	0.25%	0.64%
Advanced Micro DevicesAMD	IWY +0.37 points	2.66%	3.03%
Mckesson CorpMCK	IWY +0.32 points	0.10%	0.42%
Analog DevicesADI	ILCG +0.29 points	0.35%	0.06%
Johnson Controls International PLCJCI	ILCG +0.27 points	0.29%	0.02%
Palantir Technologies Class APLTR	IWY +0.24 points	1.32%	1.56%
Broadcom IncAVGO	IWY +0.24 points	4.92%	5.16%
Dell Technologies Inc Class CDELL	ILCG +0.22 points	0.28%	0.06%
Trane Technologies PLCTT	IWY +0.20 points	0.15%	0.35%
Applied Material IncAMAT	IWY +0.18 points	1.00%	1.18%
Ge AerospaceGE	IWY +0.18 points	1.01%	1.19%
BlackstoneBX	IWY +0.18 points	0.09%	0.27%
Lam ResearchLRCX	IWY +0.17 points	0.97%	1.14%
Bank of New York Mellon CorpBNY	ILCG +0.18 points	0.20%	0.02%
Palo Alto NetworksPANW	IWY +0.17 points	0.96%	1.13%
Crowdstrike Holdings Class ACRWD	IWY +0.16 points	0.80%	0.96%
Constellation Energy CorpCEG	ILCG +0.15 points	0.17%	0.02%
NetflixNFLX	IWY +0.14 points	0.84%	0.98%
Motorola Solutions IncMSI	ILCG +0.14 points	0.26%	0.12%
Ge VernovaGEV	IWY +0.14 points	0.74%	0.88%
Marriott International Class AMAR	IWY +0.14 points	0.11%	0.25%
AutozoneAZO	ILCG +0.14 points	0.17%	0.03%
KlaKLAC	IWY +0.12 points	0.67%	0.79%
Amphenol Corp Class AAPH	IWY +0.11 points	0.63%	0.74%
Charles SchwabSCHW	ILCG +0.12 points	0.16%	0.04%
Costco Wholesale CorpCOST	IWY +0.12 points	0.63%	0.75%
BoeingBA	ILCG +0.12 points	0.44%	0.32%
Arista NetworksANET	IWY +0.11 points	0.56%	0.67%
Moodys CorpMCO	ILCG +0.11 points	0.24%	0.13%
Cummins IncCMI	ILCG +0.10 points	0.22%	0.12%
Marvell TechnologyMRVL	IWY +0.10 points	0.55%	0.65%
Eaton PLCETN	ILCG +0.10 points	0.18%	0.08%
Monster BeverageMNST	ILCG +0.09 points	0.21%	0.12%
Intuitive SurgicalISRG	IWY +0.09 points	0.49%	0.58%
TjxTJX	IWY +0.08 points	0.19%	0.27%
Sherwin WilliamsSHW	ILCG +0.08 points	0.16%	0.08%
Transdigm GroupTDG	ILCG +0.08 points	0.20%	0.12%
Ross Stores IncROST	IWY +0.07 points	0.17%	0.24%
ServicenowNOW	IWY +0.06 points	0.35%	0.41%
Interactive Brokers Group Inc ClasIBKR	ILCG +0.06 points	0.11%	0.05%
Uber TechnologiesUBER	ILCG +0.06 points	0.11%	0.05%
CorningGLW	IWY +0.05 points	0.32%	0.37%
Vertiv Holdings Class AVRT	IWY +0.06 points	0.28%	0.34%
Quanta Services IncPWR	IWY +0.05 points	0.30%	0.35%
Western Digital CorpWDC	IWY +0.05 points	0.43%	0.48%
Cadence Design SystemsCDNS	IWY +0.06 points	0.29%	0.35%
Starbucks CorpSBUX	IWY +0.05 points	0.20%	0.25%
Howmet AerospaceHWM	IWY +0.04 points	0.26%	0.30%
Hilton Worldwide HoldingsHLT	IWY +0.05 points	0.25%	0.30%
Illinois Tool IncITW	ILCG +0.04 points	0.13%	0.09%
Airbnb Class AABNB	IWY +0.05 points	0.21%	0.26%
Kkr and Co IncKKR	ILCG +0.05 points	0.10%	0.05%
Public Storage ReitPSA	ILCG +0.05 points	0.07%	0.02%
FortinetFTNT	IWY +0.05 points	0.27%	0.32%
CintasCTAS	IWY +0.05 points	0.24%	0.29%
Colgate-PalmoliveCL	IWY +0.04 points	0.08%	0.12%
Doordash Class ADASH	IWY +0.04 points	0.22%	0.26%
Monolithic Power Systems IncMPWR	IWY +0.04 points	0.18%	0.22%
American ExpressAXP	IWY +0.04 points	0.15%	0.19%
Bloom Energy Class ABE	IWY +0.03 points	0.19%	0.22%
CienaCIEN	IWY +0.02 points	0.15%	0.17%
Carvana Class ACVNA	IWY +0.02 points	0.16%	0.18%
Applovin Class AAPP	IWY +0.01 points	0.20%	0.21%

All 325 ILCG holdings⁠All 101 IWY 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 IWY Cost

Overpaying IWY vs ILCG

$3,306

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

ILCG 0.04%
$849
IWY 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

ILCG 0.04%
IWY 0.20%
Overpaying

Year by year

Year	ILCG	IWY	Overpaying
10	$73	$365	$292
20	$288	$1,421	$1,133
30	$849	$4,155	$3,306

Expense ratio

0.04%ILCG, cheaper
0.20%IWY

ILCG0.04%IWY0.20%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

ILCG 2nd cheapest of 35 funds

IWY 21st cheapest of 35 funds

ILCG vs IWY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ILCG 0.44%, better; IWY 0.35%
Payout (12M): ILCG $0.48; IWY $0.97
Last payment: ILCG $0.14; IWY $0.23
Ex-dividend: ILCG Sep 15, 2026; IWY Sep 15, 2026
Paid on: ILCG Sep 18, 2026; IWY Sep 18, 2026
Frequency: ILCG Quarterly; IWY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ILCGQuarterly · 40 paymentsAll ILCG payments⁠

IWYQuarterly · 40 paymentsAll IWY payments⁠

ILCG vs IWY Risk

Fall from peak · 5 years

ILCG
IWY

Risk facts

VolatilityStd dev, 3 years: ILCG 17.8%IWY 16.9%, better
Return per unit of riskSharpe ratio, 3 years: ILCG 1.06, betterIWY 1.03
Worst fallMax drawdown, 5 years: ILCG −35.4%IWY −32.7%, better
Market sensitivityBeta, 5 years: ILCG 1.23IWY 1.17; Market = 1

ILCG and IWY in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026ILCG

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ILCG vs IWY

In short

Stated mandate

Why people hold it

Worth knowing

How ILCG and IWY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

Only in IWY

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

How ILCG and IWY differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in ILCG

Only in IWY

Weight gaps