IMCB vs IWR: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap ETF

IMCBANYSE Arca

iShares Russell Mid-Cap ETF

IWRANYSE Arca

Overlap

66.5%by weight

Expense ratio

IMCB −0.14pt a year

IMCB0.04%IWR0.18%

Avg volume · 30D

IWR 50.0×the volume

IMCB35.8KIWR1.79M

10Y return · a year

IMCB +0.2pt

IMCB+11.8%IWR+11.6%

IMCB vs IWR Performance

Oct 29, 2021 – Oct 30, 2026

+49.4%IMCB+42.1%IWR

Expense ratio: IMCB 0.04%, better; IWR 0.18%
Fund size: IMCB $1.75B; IWR $58.1B
1Y total return: IMCB +20.1%, better; IWR +16.3%
Yield (12M): IMCB 1.22%, better; IWR 1.16%
Holdings: IMCB 396; IWR 827
Avg volume (30D): IMCB 35.8K sh; IWR 1.79M sh, better
NAV per share: IMCB $97.86; IWR $110.06
52W range

ETF.net Grade

Pillar letters and Scores for IMCB, IWR, with each pillar’s weight
Pillar	IMCB	IWR
Cost30% weight	A86Higher	C43
Mission25% weight	A100	A100
Risk15% weight	A76Higher	B68
Tradability15% weight	B60	A93Higher
Holdings10% weight	A72	A83Higher
Durability5% weight	A70	A86Higher

Rank among US Mid-Cap funds

How we build Categories ›

Same Category. IMCB 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 ›

IMCB ranks 1st and IWR 4th 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

Our read on each fund

ETF.net Research

IMCBAiShares Morningstar Mid-Cap ETF

IWRAiShares Russell Mid-Cap ETF

In short

IMCB Mid-cap America for four basis points, running since 2004. It samples Morningstar's US mid-cap index across roughly 400 stocks and hews to that benchmark about as closely as anything in its category.

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

IMCB The Fund seeks to track an index of mid-capitalization U.S. equities. It uses indexing and representative sampling rather than trying to outperform the index.

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

Why people hold it

IMCB Costs 0.04% a year, against roughly 0.15% typical for the mid-cap group.
Indexing, not opinions: representative sampling of the Morningstar US Mid Cap Index, with tracking among the tightest in its peer group.ishares.com
Trading since 2004 and now a multi-billion-dollar fund, so there is a long operating history here, not a launch-year story.
About 400 names covering both the growth and value sides of US mid caps, so no style tilt is baked in.

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

IMCB Thinly traded next to the category's household names, so spreads and order handling matter more at the moment of a trade.
All US, all stocks: mid caps move harder than mega caps, and nothing else in the portfolio cushions an equity selloff.
VO and SCHM cover similar ground at 0.03%, so the cost edge here is over the group average rather than over the cheapest rivals.

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 IMCB profile⁠

Full IWR profile⁠

IMCB vs IWR Holdings

How IMCB and IWR differ

Overlap by weight

66.5%

Shared holdings make up 71.3% of IWR and 66.6% of IMCB.

Level by level

Holdings327 in both66.5%
Sector11 Sectors93.3%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in IMCB and IWR, widest gap first
Sector	More in IMCBMore in IWR	IMCB	IWR
Real Estate	IWR +2.4 points	4.0%	6.4%
Health Care	IWR +2.3 points	10.5%	12.8%
Industrials	IMCB +2.2 points	19.1%	16.9%
Financials	IMCB +1.5 points	15.4%	13.9%
Energy	IMCB +1.2 points	8.3%	7.1%
Technology	IWR +1.1 points	14.9%	16.0%
Materials	IMCB +0.9 points	5.7%	4.8%
Communication	IWR +0.9 points	1.6%	2.5%
Consumer Staples	IMCB +0.5 points	5.7%	5.2%
Utilities	IMCB +0.3 points	6.0%	5.7%
Consumer Discretionary	Same weight	8.8%	8.8%

Country, concentration and asset class

Country by domicile

Country weights in IMCB and IWR, widest gap first
Country	More in IMCBMore in IWR	IMCB	IWR
United States	IMCB +0.1 points	98.5%	98.4%
United Kingdom	Same weight	0.4%	0.4%
China	IMCB +0.4 points	0.4%	0.0%
Switzerland	IWR +0.1 points	0.3%	0.4%
Mexico	Same weight	0.2%	0.2%
Canada	IWR +0.2 points	0.0%	0.2%
Ireland	Same weight	0.1%	0.2%
Brazil	IWR +0.1 points	0.0%	0.1%
Other countries (5)	IWR +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

IMCB7.4%
IWR6.5%

Securities held

IMCB394
IWR823

Asset class

IMCB: Equity
IWR: Equity

Holdings

Only in IMCB67
In both327
Only in IWR496

Only in IMCB

67 securities, 33.4% of IMCB by weight

Dell Technologies Inc Class C0.83%
Automatic Data Processing Inc0.80%
Valero Energy Corp0.79%
Bank of New York Mellon Corp0.69%
Csx0.66%
Marsh0.66%
Us Bancorp0.64%
Emerson Electric0.63%
Regeneron Pharmaceuticals0.63%
Pnc Financial Services Group0.63%
Williams0.62%
Johnson Controls International PLC0.62%
3M0.62%
Freeport Mcmoran Inc0.62%
Elevance Health Inc0.60%
Eog Resources0.60%
Fortinet0.58%
Mondelez International Class A0.57%
Travelers Companies0.57%
Motorola Solutions Inc0.56%
United Parcel Service Inc Class B0.56%
Slb0.55%
Illinois Tool Inc0.55%
Northrop Grumman Corp0.54%
Hilton Worldwide Holdings0.54%
Norfolk Southern Corp0.53%
General Motors0.53%
Ecolab0.53%
Colgate-Palmolive0.53%
Cigna0.52%
Sherwin Williams0.52%
Cintas0.52%
Moodys Corp0.51%
Ross Stores Inc0.50%
Oreilly Automotive Inc0.49%
American Electric Power Inc0.49%
Air Products and Chemicals0.48%
Arthur J Gallagher0.48%
Target Corp0.48%
Cummins Inc0.47%
Aon PLC Class A0.47%
Doordash Class A0.47%
Airbnb Class A0.46%
Monster Beverage0.45%
Transdigm Group0.43%
Nxp Semiconductors NV0.43%
Te Connectivity PLC0.43%
Crh Public Limited PLC0.42%
Truist Financial0.41%
Bloom Energy Class A0.40%

Only in IWR

496 securities, 28.6% of IWR by weight

Anglogold Ashanti PLC0.30%
Cboe Global Markets0.26%
Okta Class A0.25%
Atlassian Corp Class A0.22%
Restaurants Brands International0.18%
Guardant Health0.17%
Roku Class A0.15%
Skyworks Solutions0.15%
Rubrik Class A0.14%
Ftai Aviation0.14%
Best Buy0.14%
Apa0.14%
Nutanix Class A0.13%
Hf Sinclair0.13%
Revvity0.13%
Sharkninja0.13%
Reinsurance Group of America0.13%
Idex0.13%
Fedex Freight Holding Company Inc0.13%
Charles River Laboratories Interna0.13%
Host Hotels & Resorts Reit0.13%
Exelixis Inc0.13%
Zebra Technologies Corp Class A0.12%
Nordson0.12%
Hasbro0.12%
Rb Global0.12%
Dynatrace Inc0.12%
Jones Lang Lasalle0.12%
Docusign0.12%
Masco0.12%
Everest Group0.12%
Gfl Environmental Subordinate Voti0.12%
Allegion PLC0.12%
Stanley Black & Decker0.11%
Gen Digital0.11%
Viking Holdings Ltd0.11%
Halozyme Therapeutics0.11%
Pinnacle Financial Partners0.11%
Gartner0.11%
Carlisle Companies0.11%
Transunion0.11%
Caci International Inc Class A0.11%
Godaddy Class A0.11%
Lincoln Electric Holdings0.11%
Medpace Holdings0.11%
Samsara Class A0.11%
Equitable Holdings0.11%
Neurocrine Biosciences0.11%
Unum0.11%
Manhattan Associates0.10%

Weight gaps

The 100 widest of 327 Holdings in both funds.

Holding weights in IMCB and IWR, widest gap first
Holding	More in IMCBMore in IWR	IMCB	IWR
Vivmark ResidentialVMRK	IWR +0.28 points	0.06%	0.34%
Marathon PetroleumMPC	IWR +0.10 points	0.86%	0.96%
Diamondback EnergyFANG	IWR +0.06 points	0.26%	0.32%
Phillips 66PSX	IWR +0.05 points	0.78%	0.83%
ModernaMRNA	IWR +0.05 points	0.54%	0.59%
FastenalFAST	IWR +0.04 points	0.40%	0.44%
Simon Property Group Reit IncSPG	IWR +0.04 points	0.47%	0.51%
American International GroupAIG	IWR +0.04 points	0.28%	0.32%
Devon EnergyDVN	IWR +0.04 points	0.39%	0.43%
KenvueKVUE	IWR +0.04 points	0.23%	0.27%
SnowflakeSNOW	IWR +0.04 points	0.71%	0.75%
Royal Caribbean GroupRCL	IWR +0.04 points	0.53%	0.57%
Cheniere EnergyLNG	IWR +0.04 points	0.47%	0.51%
Cloudflare Class ANET	IWR +0.04 points	0.62%	0.66%
Allstate CorpALL	IWR +0.04 points	0.45%	0.49%
Lumentum HoldingsLITE	IMCB +0.03 points	0.51%	0.48%
Royalty Pharma PLC Class ARPRX	IWR +0.03 points	0.17%	0.20%
Edwards LifesciencesEW	IWR +0.03 points	0.35%	0.38%
Live Nation EntertainmentLYV	IWR +0.03 points	0.18%	0.21%
Yum BrandsYUM	IWR +0.03 points	0.28%	0.31%
Idexx LaboratoriesIDXX	IWR +0.03 points	0.29%	0.32%
Archer Daniels MidlandADM	IWR +0.03 points	0.24%	0.27%
Realty Income ReitO	IWR +0.03 points	0.36%	0.39%
United RentalsURI	IWR +0.03 points	0.50%	0.53%
Hewlett Packard EnterpriseHPE	IWR +0.03 points	0.50%	0.53%
Digital Realty Trust ReitDLR	IWR +0.03 points	0.46%	0.49%
Ferguson EnterprisesFERG	IWR +0.02 points	0.31%	0.33%
Zoom Communications Class AZM	IWR +0.03 points	0.16%	0.19%
Datadog Inc Class ADDOG	IWR +0.03 points	0.54%	0.57%
Targa ResourcesTRGP	IWR +0.03 points	0.46%	0.49%
Take Two Interactive SoftwareTTWO	IWR +0.03 points	0.23%	0.26%
Becton DickinsonBDX	IWR +0.03 points	0.37%	0.40%
Cardinal HealthCAH	IWR +0.03 points	0.40%	0.43%
Netapp IncNTAP	IWR +0.03 points	0.26%	0.29%
United TherapeuticsUTHR	IWR +0.02 points	0.16%	0.18%
Baker Hughes Class ABKR	IWR +0.02 points	0.38%	0.40%
NateraNTRA	IWR +0.02 points	0.39%	0.41%
Comfort Systems UsaFIX	IWR +0.02 points	0.29%	0.31%
Vulcan MaterialsVMC	IWR +0.03 points	0.24%	0.27%
OneokOKE	IWR +0.02 points	0.42%	0.44%
Wr BerkleyWRB	IMCB +0.02 points	0.14%	0.12%
Flex LtdFLEX	IWR +0.02 points	0.21%	0.23%
Rockwell Automation IncROK	IWR +0.02 points	0.34%	0.36%
VistraVST	IWR +0.02 points	0.32%	0.34%
GarminGRMN	IWR +0.03 points	0.30%	0.33%
Keysight TechnologiesKEYS	IWR +0.02 points	0.36%	0.38%
Nasdaq IncNDAQ	IWR +0.02 points	0.32%	0.34%
Robinhood Markets Class AHOOD	IWR +0.02 points	0.46%	0.48%
Fifth Third BancorpFITB	IWR +0.03 points	0.33%	0.36%
L3HARRIS TechnologiesLHX	IWR +0.02 points	0.36%	0.38%
Xcel Energy IncXEL	IWR +0.02 points	0.34%	0.36%
VylorVYLR	IWR +0.03 points	0.33%	0.36%
CoherentCOHR	IWR +0.02 points	0.27%	0.29%
Ametek IncAME	IWR +0.02 points	0.38%	0.40%
HumanaHUM	IWR +0.02 points	0.34%	0.36%
Exelon CorpEXC	IWR +0.02 points	0.33%	0.35%
Roper TechnologiesROP	IWR +0.02 points	0.32%	0.34%
Westinghouse Air Brake TechnologieWAB	IWR +0.03 points	0.32%	0.35%
Waters CorpWAT	IWR +0.02 points	0.31%	0.33%
Prudential Financial IncPRU	IWR +0.02 points	0.28%	0.30%
AutodeskADSK	IWR +0.02 points	0.37%	0.39%
Emcor GroupEME	IWR +0.02 points	0.20%	0.22%
Invitation HomesINVH	IWR +0.02 points	0.10%	0.12%
PayPal HoldingsPYPL	IWR +0.02 points	0.34%	0.36%
Huntington Bancshares IncHBAN	IWR +0.02 points	0.21%	0.23%
Ameriprise Finance IncAMP	IWR +0.02 points	0.30%	0.32%
Dollar Tree IncDLTR	IWR +0.02 points	0.17%	0.19%
Ppl CorpPPL	IWR +0.02 points	0.18%	0.20%
Ventas ReitVTR	IWR +0.02 points	0.30%	0.32%
Ford Motor CoF	IWR +0.02 points	0.33%	0.35%
Iqvia Holdings IncIQV	IWR +0.02 points	0.30%	0.32%
Extra Space Storage ReitEXR	IWR +0.02 points	0.21%	0.23%
Occidental Petroleum CorpOXY	IWR +0.02 points	0.32%	0.34%
Zoetis Inc Class AZTS	IWR +0.02 points	0.23%	0.25%
Chipotle Mexican GrillCMG	IWR +0.01 points	0.28%	0.29%
Workday Class AWDAY	IWR +0.01 points	0.27%	0.28%
Kinder MorganKMI	IWR +0.02 points	0.46%	0.48%
Ww Grainger IncGWW	IWR +0.02 points	0.41%	0.43%
Agilent Technologies IncA	IWR +0.02 points	0.34%	0.36%
Carlyle Group IncCG	IWR +0.02 points	0.06%	0.08%
Veeva Systems Class AVEEV	IWR +0.02 points	0.32%	0.34%
VeraltoVLTO	IWR +0.02 points	0.18%	0.20%
CencoraCOR	IWR +0.02 points	0.43%	0.45%
Twilio Class ATWLO	IWR +0.02 points	0.20%	0.22%
TeradyneTER	IWR +0.01 points	0.30%	0.31%
Raymond JamesRJF	IWR +0.02 points	0.18%	0.20%
Consolidated EdisonED	IWR +0.01 points	0.30%	0.31%
Arch Capital GroupACGL	IWR +0.02 points	0.24%	0.26%
Hubbell IncHUBB	IWR +0.01 points	0.15%	0.16%
Technipfmc PLCFTI	IWR +0.02 points	0.18%	0.20%
Wec Energy GroupWEC	IWR +0.02 points	0.26%	0.28%
BiogenBIIB	IWR +0.01 points	0.26%	0.27%
PaychexPAYX	IWR +0.01 points	0.25%	0.26%
Tractor SupplyTSCO	IWR +0.02 points	0.11%	0.13%
Regions FinancialRF	IWR +0.02 points	0.16%	0.18%
Public Service Enterprise GroupPEG	IWR +0.02 points	0.25%	0.27%
Sun Communities Reit IncSUI	IWR +0.02 points	0.08%	0.10%
SyscoSYY	IWR +0.02 points	0.27%	0.29%
Medline Class AMDLN	IWR +0.02 points	0.09%	0.11%
Cbre Group Class ACBRE	IWR +0.02 points	0.26%	0.28%

All 394 IMCB 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.

IMCB vs IWR Cost

Overpaying IWR vs IMCB

$2,900

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

IMCB 0.04%
$849
IWR 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

IMCB 0.04%
IWR 0.18%
Overpaying

Year by year

Year	IMCB	IWR	Overpaying
10	$73	$328	$255
20	$288	$1,281	$993
30	$849	$3,749	$2,900

Expense ratio

0.04%IMCB, cheaper
0.18%IWR

IMCB0.04%IWR0.18%

0.03%0.79%

Middle half of US Mid-Cap funds
Median 0.15%

IMCB 3rd cheapest of 13 funds

IWR 8th cheapest of 13 funds

IMCB vs IWR Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCB 1.22%, better; IWR 1.16%
Payout (12M): IMCB $1.20; IWR $1.27
Last payment: IMCB $0.32; IWR $0.33
Ex-dividend: IMCB Sep 15, 2026; IWR Sep 15, 2026
Paid on: IMCB Sep 18, 2026; IWR Sep 18, 2026
Frequency: IMCB Quarterly; IWR Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCBQuarterly · 40 paymentsAll IMCB payments⁠

IWRQuarterly · 36 paymentsAll IWR payments⁠

IMCB vs IWR Risk

Fall from peak · 5 years

IMCB
IWR

Risk facts

VolatilityStd dev, 3 years: IMCB 13.9%, betterIWR 14.1%
Return per unit of riskSharpe ratio, 3 years: IMCB 1.16, betterIWR 1.08
Worst fallMax drawdown, 5 years: IMCB −25.1%, betterIWR −26.2%
Market sensitivityBeta, 5 years: IMCB 1.00IWR 1.01; Market = 1

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