IMCG vs IWF: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Growth ETF

IMCGANYSE Arca

iShares Russell 1000 Growth ETF

IWFBNYSE Arca

Overlap

10.7%by weight

Expense ratio

IMCG −0.12pt a year

IMCG0.06%IWF0.18%

Avg volume · 30D

IWF 34.1×the volume

IMCG132KIWF4.51M

10Y return · a year

IWF +3.2pt

IMCG+14.3%IWF+17.5%

IMCG vs IWF Performance

Oct 29, 2021 – Oct 30, 2026

+30.8%IMCG+62.2%IWF

Expense ratio: IMCG 0.06%, better; IWF 0.18%
Fund size: IMCG $4.04B; IWF $120B
1Y total return: IMCG +14.0%, better; IWF −2.8%
Yield (12M): IMCG 0.67%, better; IWF 0.37%
Holdings: IMCG 262; IWF 375
Avg volume (30D): IMCG 132K sh; IWF 4.51M sh, better
NAV per share: IMCG $93.24; IWF $117.59
52W range

ETF.net Grade

Pillar letters and Scores for IMCG, IWF, with each pillar’s weight
Pillar	IMCG	IWF
Cost30% weight	A78Higher	C49
Mission25% weight	A95	A100Higher
Risk15% weight	A78Higher	D29
Tradability15% weight	B61	A96Higher
Holdings10% weight	A75Higher	C43
Durability5% weight	B66	A86Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IMCG and IWF 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 ›

IMCG ranks 2nd and IWF 14th 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 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 12BVOOGVanguard S&P 500 Growth ETFScore 67
Rank 14BIWFiShares Russell 1000 Growth ETFScore 66
Rank 14BVTWGVanguard Russell 2000 Growth ETFScore 66

Our read on each fund

ETF.net Research

IMCGAiShares Morningstar Mid-Cap Growth ETF

IWFBiShares Russell 1000 Growth ETF

In short

IMCG Growth investing usually means megacaps. IMCG works the middle of the market instead: roughly 300 mid-cap growth names, indexed since 2004, for six basis points a year.

IWF Trading since 2000, IWF is the heavyweight way to own the Russell 1000 Growth Index: roughly 400 US large- and mid-cap growth names, in one of the biggest and busiest funds in its group. Cheaper clones of the same index exist.

Stated mandate

IMCG The Fund seeks to track an index of U.S. mid-capitalization equities with growth characteristics. Its strategy uses representative sampling and generally invests at least 80% of assets in securities from the Underlying Index.

IWF The Fund seeks to follow the Russell 1000 Growth Index, representing U.S. large- and mid-capitalization equities selected for growth characteristics. It generally invests at least 80% of assets in index components.

Why people hold it

IMCG 0.06% a year, one third of the 0.18% median for its growth-fund peer group. Mid-cap indexing at large-cap-index prices.
The growth leaderboard is stacked with large-cap funds (VUG, SCHG, SPYG, VONG). IMCG covers the middle instead, holding about 300 mid-cap growth names.
Sticks close to the Morningstar mid-cap growth index it follows, one of the tighter tracking jobs in its peer group.
Running since 2004 under the iShares roof, with a multi-billion-dollar asset base behind it.

IWF Running since 2000 and now among the largest and most actively traded growth ETFs, so getting in and out rarely means fighting a wide spread.
The mandate is plain: follow the Russell 1000 Growth Index, at least 80% in index components. Its index tracking measures among the tightest in its peer group.ishares.com
One ticker buys about 400 US large- and mid-cap stocks selected for growth characteristics, with cash paid out quarterly.

Worth knowing

IMCG Moderately traded rather than heavily traded, so bid-ask spreads can run wider than the megacap growth ETFs sitting beside it in the category.
This is a size-and-style bet. Mid-cap growth companies tend to move more sharply than the broad market, in both directions.
Distributions land quarterly, but a growth screen is not built around income.

IWF The 0.18% fee sits mid-pack for growth ETFs, and VONG follows the identical Russell 1000 Growth Index for a fraction of it. Same index, different sticker.
A growth screen keeps only part of the Russell 1000, so the ride depends on whichever names the index currently counts as fast growers.

Full IMCG profile⁠

Full IWF profile⁠

IMCG vs IWF Holdings

How IMCG and IWF differ

Overlap by weight

10.7%

Shared holdings make up 62.4% of IMCG and 10.7% of IWF.

Level by level

Holdings134 in both10.7%
Sector11 Sectors54.2%
Countryby domicile98.2%
Asset classEquity100%

Sector

Sector weights in IMCG and IWF, widest gap first
Sector	More in IMCGMore in IWF	IMCG	IWF
Technology	IWF +32.4 points	23.3%	55.7%
Industrials	IMCG +15.8 points	23.0%	7.2%
Communication	IWF +13.3 points	2.2%	15.5%
Financials	IMCG +7.6 points	12.5%	4.9%
Materials	IMCG +6.1 points	6.4%	0.3%
Real Estate	IMCG +3.2 points	3.6%	0.4%
Health Care	IMCG +2.9 points	8.9%	6.0%
Energy	IMCG +2.9 points	3.5%	0.6%
Utilities	IMCG +2.8 points	3.1%	0.3%
Consumer Discretionary	IMCG +2.7 points	10.6%	7.9%
Consumer Staples	IMCG +1.6 points	2.9%	1.3%

Country, concentration and asset class

Country by domicile

Country weights in IMCG and IWF, widest gap first
Country	More in IMCGMore in IWF	IMCG	IWF
United States	IWF +1.5 points	98.2%	99.7%
China	IMCG +0.6 points	0.6%	0.0%
Other countries (5)	IMCG +1.0 points	1.3%	0.3%

Concentration

Weight in the 10 largest Holdings

IMCG12.4%
IWF56.9%

Securities held

IMCG259
IWF373

Asset class

IMCG: Equity
IWF: Equity

Holdings

Only in IMCG125
In both134
Only in IWF239

Only in IMCG

125 securities, 37.6% of IMCG by weight

Freeport Mcmoran Inc1.29%
Ecolab1.03%
Oreilly Automotive Inc0.97%
Aon PLC Class A0.92%
Csx0.89%
Ametek Inc0.79%
Emerson Electric0.79%
Baker Hughes Class A0.73%
Edwards Lifesciences0.71%
Westinghouse Air Brake Technologie0.65%
Veeva Systems Class A0.63%
Nasdaq Inc0.63%
Nxp Semiconductors NV0.60%
Digital Realty Trust Reit0.59%
Ventas Reit0.58%
Arthur J Gallagher0.56%
Block Class A0.56%
Te Connectivity PLC0.55%
Nucor0.53%
Williams0.52%
Marsh0.48%
Coinbase Global Class A0.48%
Vulcan Materials0.48%
Norfolk Southern Corp0.47%
Apollo Global Management0.45%
Waters Corp0.45%
L3HARRIS Technologies0.44%
Flex Ltd0.44%
Northrop Grumman Corp0.44%
Martin Marietta Materials0.44%
Air Products and Chemicals0.43%
Allstate Corp0.43%
Garmin0.41%
American Electric Power Inc0.40%
West Pharmaceutical Services0.40%
Illumina Inc0.39%
Republic Services Inc0.38%
Vylor0.38%
Entergy Corp0.37%
Qnity Electronics0.35%
Agilent Technologies Inc0.35%
Verisign0.34%
Iron Mountain Inc0.34%
Carrier Global0.32%
Hubbell Inc0.30%
Crh Public Limited PLC0.29%
State Street0.28%
Humana0.28%
Resmed0.27%
Royal Gold0.27%

Only in IWF

239 securities, 89.2% of IWF by weight

NVIDIA15.14%
Apple8.30%
Microsoft5.98%
Alphabet Class A5.02%
Broadcom Inc4.88%
Alphabet Class C4.08%
Tesla Inc3.58%
Meta Platforms Class A3.41%
Eli Lilly3.33%
Micron Technology3.20%
Advanced Micro Devices2.80%
Visa Class A2.11%
Mastercard Class A1.56%
Palantir Technologies Class A1.33%
Applied Material Inc1.02%
Ge Aerospace0.98%
Lam Research0.97%
Palo Alto Networks0.93%
Caterpillar Inc0.89%
Texas Instrument0.86%
Crowdstrike Holdings Class A0.80%
Netflix0.78%
Home Depot0.74%
Oracle0.73%
Ge Vernova0.73%
Kla0.67%
Amphenol Corp Class A0.61%
Amazon.com Inc0.60%
Sandisk0.59%
Costco Wholesale Corp0.59%
Arista Networks0.58%
Marvell Technology0.58%
Amgen Inc0.53%
Intuitive Surgical0.48%
Western Digital Corp0.41%
Lockheed Martin0.40%
Booking Holdings0.35%
Servicenow0.34%
Mckesson Corp0.33%
Corning0.31%
Trane Technologies PLC0.29%
Quanta Services Inc0.29%
Cadence Design Systems0.29%
Vertiv Holdings Class A0.29%
Spotify Technology0.27%
Boeing0.26%
Howmet Aerospace0.25%
Space Exploration Technologies Cor0.24%
Tjx0.22%
Blackstone0.22%

Weight gaps

The 100 widest of 134 Holdings in both funds.

Holding weights in IMCG and IWF, widest gap first
Holding	More in IMCGMore in IWF	IMCG	IWF
Johnson Controls International PLCJCI	IMCG +1.28 points	1.30%	0.02%
Dell Technologies Inc Class CDELL	IMCG +1.25 points	1.30%	0.05%
SnowflakeSNOW	IMCG +1.18 points	1.52%	0.34%
Cloudflare Class ANET	IMCG +1.05 points	1.35%	0.30%
Motorola Solutions IncMSI	IMCG +1.02 points	1.11%	0.09%
Datadog Inc Class ADDOG	IMCG +0.93 points	1.20%	0.27%
FortinetFTNT	IMCG +0.92 points	1.18%	0.26%
Royal Caribbean GroupRCL	IMCG +0.92 points	1.05%	0.13%
Moodys CorpMCO	IMCG +0.90 points	1.00%	0.10%
Lumentum HoldingsLITE	IMCG +0.88 points	1.10%	0.22%
Cummins IncCMI	IMCG +0.87 points	0.97%	0.10%
Hilton Worldwide HoldingsHLT	IMCG +0.83 points	1.07%	0.24%
Bank of New York Mellon CorpBNY	IMCG +0.83 points	0.85%	0.02%
CintasCTAS	IMCG +0.79 points	1.02%	0.23%
Robinhood Markets Class AHOOD	IMCG +0.79 points	0.97%	0.18%
Transdigm GroupTDG	IMCG +0.78 points	0.88%	0.10%
Monster BeverageMNST	IMCG +0.77 points	0.86%	0.09%
Doordash Class ADASH	IMCG +0.72 points	0.92%	0.20%
Airbnb Class AABNB	IMCG +0.70 points	0.91%	0.21%
Bloom Energy Class ABE	IMCG +0.68 points	0.87%	0.19%
AutozoneAZO	IMCG +0.68 points	0.70%	0.02%
Ww Grainger IncGWW	IMCG +0.67 points	0.82%	0.16%
CencoraCOR	IMCG +0.66 points	0.85%	0.19%
Keysight TechnologiesKEYS	IMCG +0.66 points	0.76%	0.10%
United RentalsURI	IMCG +0.64 points	0.69%	0.05%
FastenalFAST	IMCG +0.64 points	0.79%	0.15%
NateraNTRA	IMCG +0.63 points	0.81%	0.18%
Marathon PetroleumMPC	IMCG +0.60 points	0.80%	0.20%
Sherwin WilliamsSHW	IMCG +0.60 points	0.66%	0.06%
Monolithic Power Systems IncMPWR	IMCG +0.59 points	0.76%	0.17%
MsciMSCI	IMCG +0.59 points	0.60%	<0.01%
CoherentCOHR	IMCG +0.56 points	0.59%	0.03%
Rockwell Automation IncROK	IMCG +0.55 points	0.68%	0.13%
AutodeskADSK	IMCG +0.54 points	0.70%	0.16%
Ross Stores IncROST	IMCG +0.53 points	0.72%	0.19%
CienaCIEN	IMCG +0.52 points	0.67%	0.15%
Carvana Class ACVNA	IMCG +0.52 points	0.66%	0.14%
Illinois Tool IncITW	IMCG +0.50 points	0.57%	0.07%
VistraVST	IMCG +0.50 points	0.64%	0.14%
TeradyneTER	IMCG +0.49 points	0.63%	0.14%
Everpure Inc Class AP	IMCG +0.48 points	0.59%	0.11%
Astera LabsALAB	IMCG +0.48 points	0.61%	0.14%
Idexx LaboratoriesIDXX	IMCG +0.47 points	0.59%	0.12%
Comfort Systems UsaFIX	IMCG +0.47 points	0.61%	0.14%
Microchip Technology IncMCHP	IMCG +0.47 points	0.60%	0.13%
Twilio Class ATWLO	IMCG +0.45 points	0.47%	0.02%
Interactive Brokers Group Inc ClasIBKR	IMCG +0.45 points	0.49%	0.04%
Old Dominion Freight LineODFL	IMCG +0.42 points	0.44%	0.02%
Chipotle Mexican GrillCMG	IMCG +0.41 points	0.53%	0.12%
On Semiconductor CorpON	IMCG +0.40 points	0.40%	<0.01%
Ferguson EnterprisesFERG	IMCG +0.36 points	0.37%	<0.01%
Cardinal HealthCAH	IMCG +0.36 points	0.44%	0.08%
Roblox Class ARBLX	IMCG +0.36 points	0.46%	0.10%
Axon EnterpriseAXON	IMCG +0.36 points	0.46%	0.10%
Estee Lauder Inc Class AEL	IMCG +0.36 points	0.37%	0.01%
Rocket Lab CorpRKLB	IMCG +0.35 points	0.45%	0.10%
Take Two Interactive SoftwareTTWO	IMCG +0.35 points	0.46%	0.11%
Mongodb Class AMDB	IMCG +0.33 points	0.41%	0.08%
Yum BrandsYUM	IMCG +0.32 points	0.36%	0.04%
Entegris IncENTG	IMCG +0.32 points	0.33%	0.01%
Dexcom IncDXCM	IMCG +0.32 points	0.41%	0.09%
JabilJBL	IMCG +0.32 points	0.41%	0.09%
Steel Dynamics IncSTLD	IMCG +0.31 points	0.32%	<0.01%
Emcor GroupEME	IMCG +0.31 points	0.40%	0.09%
Credo Technology Group Holding LtdCRDO	IMCG +0.30 points	0.38%	0.08%
Sofi TechnologiesSOFI	IMCG +0.29 points	0.30%	<0.01%
Ares Management Class AARES	IMCG +0.28 points	0.36%	0.08%
Nvent Electric PLCNVT	IMCG +0.27 points	0.30%	0.03%
Caseys General Stores IncCASY	IMCG +0.27 points	0.34%	0.07%
Lpl Financial HoldingsLPLA	IMCG +0.27 points	0.29%	0.02%
ZscalerZS	IMCG +0.27 points	0.35%	0.08%
Live Nation EntertainmentLYV	IMCG +0.26 points	0.35%	0.09%
Super Micro Computer IncSMCI	IMCG +0.25 points	0.26%	<0.01%
InsmedINSM	IMCG +0.25 points	0.32%	0.07%
Public Storage ReitPSA	IMCG +0.25 points	0.27%	0.02%
Colgate-PalmoliveCL	IMCG +0.25 points	0.35%	0.10%
EbayEBAY	IMCG +0.25 points	0.28%	0.03%
Ameriprise Finance IncAMP	IMCG +0.25 points	0.26%	0.01%
Simon Property Group Reit IncSPG	IMCG +0.25 points	0.46%	0.21%
AtiATI	IMCG +0.25 points	0.32%	0.07%
Alnylam PharmaceuticalsALNY	IMCG +0.24 points	0.31%	0.07%
Targa ResourcesTRGP	IMCG +0.23 points	0.43%	0.20%
XpoXPO	IMCG +0.23 points	0.29%	0.06%
Centene CorpCNC	IMCG +0.23 points	0.24%	<0.01%
Affirm Holdings Class AAFRM	IMCG +0.23 points	0.29%	0.06%
Curtiss WrightCW	IMCG +0.22 points	0.25%	0.03%
Northern TrustNTRS	IMCG +0.22 points	0.22%	<0.01%
Hershey FoodsHSY	IMCG +0.20 points	0.21%	<0.01%
Ulta Beauty IncULTA	IMCG +0.20 points	0.22%	0.02%
Heico Class AHEI.A	IMCG +0.20 points	0.26%	0.06%
Clean Harbors IncCLH	IMCG +0.20 points	0.21%	<0.01%
Rbc BearingsRBC	IMCG +0.20 points	0.21%	<0.01%
Coupang Class ACPNG	IMCG +0.19 points	0.25%	0.06%
Reddit Class ARDDT	IMCG +0.20 points	0.25%	0.05%
Texas Pacific LandTPL	IMCG +0.20 points	0.26%	0.06%
Technipfmc PLCFTI	IMCG +0.20 points	0.23%	0.03%
WoodwardWWD	IMCG +0.19 points	0.25%	0.06%
Cbre Group Class ACBRE	IMCG +0.20 points	0.21%	0.01%
MksMKSI	IMCG +0.20 points	0.20%	<0.01%
Macom Technology SolutionsMTSI	IMCG +0.19 points	0.24%	0.05%

All 259 IMCG holdings⁠All 373 IWF 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.

IMCG vs IWF Cost

Overpaying IWF vs IMCG

$2,479

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

IMCG 0.06%
$1,270
IWF 0.18%
$3,749

Amount$10,000

Years30 years

Cost over time

IMCG 0.06%
IWF 0.18%
Overpaying

Year by year

Year	IMCG	IWF	Overpaying
10	$110	$328	$218
20	$432	$1,281	$849
30	$1,270	$3,749	$2,479

Expense ratio

0.06%IMCG, cheaper
0.18%IWF

IMCG0.06%IWF0.18%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

IMCG 9th cheapest of 35 funds

IWF 17th cheapest of 35 funds

IMCG vs IWF Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCG 0.67%, better; IWF 0.37%
Payout (12M): IMCG $0.62; IWF $0.43
Last payment: IMCG $0.19; IWF $0.11
Ex-dividend: IMCG Sep 15, 2026; IWF Sep 15, 2026
Paid on: IMCG Sep 18, 2026; IWF Sep 18, 2026
Frequency: IMCG Quarterly; IWF Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCGQuarterly · 39 paymentsAll IMCG payments⁠

IWFQuarterly · 39 paymentsAll IWF payments⁠

IMCG vs IWF Risk

Fall from peak · 5 years

IMCG
IWF

Risk facts

VolatilityStd dev, 3 years: IMCG 16.6%, betterIWF 16.8%
Return per unit of riskSharpe ratio, 3 years: IMCG 0.97IWF 1.01, better
Worst fallMax drawdown, 5 years: IMCG −35.1%IWF −32.7%, better
Market sensitivityBeta, 5 years: IMCG 1.14IWF 1.17; Market = 1

IMCG and IWF in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026IMCGIWF
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026IMCGIWF
Head-to-Head
SPYM leads IWF by 9.4 percentage points in 2026. They are not the same bet
Oct 21, 2026IWF
New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026IWF
First-Year Review
Polen Focus Growth ETF lags the Russell 1000 Growth in its first year
Sep 30, 2026IWF
ETF Filings
BlackRock files to convert Advantage Large Cap Growth into a 0.22% ETF
Sep 29, 2026IWF

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IMCG vs IWF

In short

Stated mandate

Why people hold it