IMCG vs IWP: Grades, Fees and Holdings Compared

iShares Morningstar Mid-Cap Growth ETF

IMCGANYSE Arca

iShares Russell Mid-Cap Growth ETF

IWPBNYSE Arca

Overlap

37.0%by weight

Expense ratio

IMCG −0.17pt a year

IMCG0.06%IWP0.23%

Avg volume · 30D

IWP 5.9×the volume

IMCG132KIWP778K

10Y return · a year

IMCG +2.7pt

IMCG+14.3%IWP+11.6%

IMCG vs IWP Performance

Oct 29, 2021 – Oct 30, 2026

+30.8%IMCG+12.4%IWP

Expense ratio: IMCG 0.06%, better; IWP 0.23%
Fund size: IMCG $4.04B; IWP $18.5B
1Y total return: IMCG +14.0%, better; IWP −7.0%
Yield (12M): IMCG 0.67%, better; IWP 0.40%
Holdings: IMCG 262; IWP 275
Avg volume (30D): IMCG 132K sh; IWP 778K sh, better
NAV per share: IMCG $93.24; IWP $131.67
52W range

ETF.net Grade

Pillar letters and Scores for IMCG, IWP, with each pillar’s weight
Pillar	IMCG	IWP
Cost30% weight	A78Higher	D37
Mission25% weight	A95	A96Higher
Risk15% weight	A78Higher	D33
Tradability15% weight	B61	A76Higher
Holdings10% weight	A75Higher	A71
Durability5% weight	B66	B69Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IMCG 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 ›

IMCG 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 2ASCHGSchwab U.S. Large-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

IMCGAiShares Morningstar Mid-Cap Growth ETF

IWPBiShares Russell Mid-Cap 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.

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

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.

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

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.

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

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.

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 IMCG profile⁠

Full IWP profile⁠

IMCG vs IWP Holdings

How IMCG and IWP differ

Overlap by weight

37.0%

Shared holdings make up 75.2% of IWP and 42.3% of IMCG.

Level by level

Holdings110 in both37.0%
Sector11 Sectors79.5%
Countryby domicile98.5%
Asset classEquity100%

Sector

Sector weights in IMCG and IWP, widest gap first
Sector	More in IMCGMore in IWP	IMCG	IWP
Technology	IWP +9.8 points	23.3%	33.1%
Financials	IMCG +7.5 points	12.5%	5.0%
Health Care	IWP +5.5 points	8.9%	14.4%
Industrials	IMCG +5.4 points	23.0%	17.6%
Materials	IMCG +4.7 points	6.4%	1.7%
Communication	IWP +2.9 points	2.2%	5.1%
Energy	IWP +1.6 points	3.5%	5.1%
Real Estate	IMCG +1.3 points	3.6%	2.3%
Consumer Staples	IMCG +0.8 points	2.9%	2.1%
Utilities	IMCG +0.7 points	3.1%	2.4%
Consumer Discretionary	IWP +0.6 points	10.6%	11.2%

Country, concentration and asset class

Country by domicile

Country weights in IMCG and IWP, widest gap first
Country	More in IMCGMore in IWP	IMCG	IWP
United States	IWP +1.0 points	98.2%	99.2%
China	IMCG +0.6 points	0.6%	0.0%
Other countries (7)	IMCG +0.5 points	1.3%	0.8%

Concentration

Weight in the 10 largest Holdings

IMCG12.4%
IWP21.6%

Securities held

IMCG259
IWP272

Asset class

IMCG: Equity
IWP: Equity

Holdings

Only in IMCG149
In both110
Only in IWP162

Only in IMCG

149 securities, 57.7% of IMCG by weight

Johnson Controls International PLC1.30%
Dell Technologies Inc Class C1.30%
Freeport Mcmoran Inc1.29%
Fortinet1.18%
Motorola Solutions Inc1.11%
Hilton Worldwide Holdings1.07%
Ecolab1.03%
Cintas1.02%
Moodys Corp1.00%
Oreilly Automotive Inc0.97%
Cummins Inc0.97%
Aon PLC Class A0.92%
Doordash Class A0.92%
Airbnb Class A0.91%
Csx0.89%
Transdigm Group0.88%
Bloom Energy Class A0.87%
Monster Beverage0.86%
Bank of New York Mellon Corp0.85%
Ametek Inc0.79%
Emerson Electric0.79%
Monolithic Power Systems Inc0.76%
Baker Hughes Class A0.73%
Ross Stores Inc0.72%
Edwards Lifesciences0.71%
Autozone0.70%
Ciena0.67%
Carvana Class A0.66%
Sherwin Williams0.66%
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%
Illinois Tool Inc0.57%
Arthur J Gallagher0.56%
Block Class A0.56%
Te Connectivity PLC0.55%
Nucor0.53%
Williams0.52%
Interactive Brokers Group Inc Clas0.49%
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%

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 IMCG and IWP, widest gap first
Holding	More in IMCGMore in IWP	IMCG	IWP
Simon Property Group Reit IncSPG	IWP +1.66 points	0.46%	2.12%
SnowflakeSNOW	IWP +1.60 points	1.52%	3.12%
Targa ResourcesTRGP	IWP +1.61 points	0.43%	2.04%
Cloudflare Class ANET	IWP +1.38 points	1.35%	2.73%
Marathon PetroleumMPC	IWP +1.23 points	0.80%	2.03%
Datadog Inc Class ADDOG	IWP +1.15 points	1.20%	2.35%
CencoraCOR	IWP +1.03 points	0.85%	1.88%
NateraNTRA	IWP +0.91 points	0.81%	1.72%
AutodeskADSK	IWP +0.90 points	0.70%	1.60%
Revolution MedicinesRVMD	IWP +0.88 points	0.23%	1.11%
Lumentum HoldingsLITE	IWP +0.88 points	1.10%	1.98%
VistraVST	IWP +0.78 points	0.64%	1.42%
Expedia GroupEXPE	IWP +0.75 points	0.24%	0.99%
Ww Grainger IncGWW	IWP +0.71 points	0.82%	1.54%
FastenalFAST	IWP +0.69 points	0.79%	1.48%
Comfort Systems UsaFIX	IWP +0.70 points	0.61%	1.31%
Chipotle Mexican GrillCMG	IWP +0.70 points	0.53%	1.23%
Robinhood Markets Class AHOOD	IWP +0.68 points	0.97%	1.65%
TeradyneTER	IWP +0.68 points	0.63%	1.31%
Microchip Technology IncMCHP	IWP +0.65 points	0.60%	1.25%
Zoetis Inc Class AZTS	IWP +0.62 points	0.18%	0.80%
Darden Restaurants IncDRI	IWP +0.62 points	0.15%	0.77%
Take Two Interactive SoftwareTTWO	IWP +0.60 points	0.46%	1.06%
Astera LabsALAB	IWP +0.59 points	0.61%	1.21%
Axon EnterpriseAXON	IWP +0.55 points	0.46%	1.01%
Rockwell Automation IncROK	IWP +0.55 points	0.68%	1.23%
Dexcom IncDXCM	IWP +0.53 points	0.41%	0.94%
MsciMSCI	IMCG +0.53 points	0.60%	0.07%
Idexx LaboratoriesIDXX	IWP +0.52 points	0.59%	1.11%
Live Nation EntertainmentLYV	IWP +0.52 points	0.35%	0.87%
Emcor GroupEME	IWP +0.51 points	0.40%	0.91%
TapestryTPR	IWP +0.51 points	0.21%	0.72%
Rocket Lab CorpRKLB	IWP +0.48 points	0.45%	0.93%
Nrg Energy IncNRG	IWP +0.48 points	0.12%	0.59%
JabilJBL	IWP +0.46 points	0.41%	0.87%
Everpure Inc Class AP	IWP +0.45 points	0.59%	1.04%
InsmedINSM	IWP +0.42 points	0.32%	0.74%
ZscalerZS	IWP +0.41 points	0.35%	0.76%
Ares Management Class AARES	IWP +0.41 points	0.36%	0.77%
Credo Technology Group Holding LtdCRDO	IWP +0.39 points	0.38%	0.77%
Cardinal HealthCAH	IWP +0.38 points	0.44%	0.82%
Roblox Class ARBLX	IWP +0.37 points	0.46%	0.83%
XpoXPO	IWP +0.37 points	0.29%	0.66%
AtiATI	IWP +0.36 points	0.32%	0.68%
Mongodb Class AMDB	IWP +0.35 points	0.41%	0.76%
Alnylam PharmaceuticalsALNY	IWP +0.36 points	0.31%	0.67%
On Semiconductor CorpON	IMCG +0.36 points	0.40%	0.04%
Coreweave Class ACRWV	IWP +0.35 points	0.17%	0.52%
CoherentCOHR	IMCG +0.34 points	0.59%	0.25%
Affirm Holdings Class AAFRM	IWP +0.34 points	0.29%	0.63%
Twilio Class ATWLO	IMCG +0.33 points	0.47%	0.14%
Texas Pacific LandTPL	IWP +0.33 points	0.26%	0.59%
Caseys General Stores IncCASY	IWP +0.34 points	0.34%	0.68%
Ferguson EnterprisesFERG	IMCG +0.30 points	0.37%	0.07%
WoodwardWWD	IWP +0.30 points	0.25%	0.55%
Coupang Class ACPNG	IWP +0.30 points	0.25%	0.55%
Heico Class AHEI.A	IWP +0.29 points	0.26%	0.55%
Royal Caribbean GroupRCL	IWP +0.28 points	1.05%	1.33%
Macom Technology SolutionsMTSI	IWP +0.25 points	0.24%	0.49%
Burlington StoresBURL	IWP +0.24 points	0.21%	0.45%
Steel Dynamics IncSTLD	IMCG +0.24 points	0.32%	0.08%
Toast Class ATOST	IWP +0.24 points	0.22%	0.46%
Old Dominion Freight LineODFL	IMCG +0.24 points	0.44%	0.20%
Entegris IncENTG	IMCG +0.23 points	0.33%	0.10%
Netapp IncNTAP	IWP +0.23 points	0.19%	0.42%
HeicoHEI	IWP +0.23 points	0.19%	0.42%
Las Vegas SandsLVS	IWP +0.22 points	0.08%	0.30%
Sofi TechnologiesSOFI	IMCG +0.22 points	0.30%	0.08%
Talen EnergyTLN	IWP +0.22 points	0.11%	0.33%
Estee Lauder Inc Class AEL	IMCG +0.22 points	0.37%	0.15%
Carpenter TechnologyCRS	IWP +0.22 points	0.20%	0.42%
Ch Robinson WorldwideCHRW	IWP +0.21 points	0.20%	0.41%
Mastec IncMTZ	IWP +0.21 points	0.15%	0.36%
Super Micro Computer IncSMCI	IMCG +0.21 points	0.26%	0.05%
Lattice SemiconductorLSCC	IWP +0.21 points	0.19%	0.40%
FabrinetFN	IWP +0.20 points	0.16%	0.36%
United RentalsURI	IMCG +0.18 points	0.69%	0.51%
Northern TrustNTRS	IMCG +0.17 points	0.22%	0.05%
Bwx Technologies IncBWXT	IWP +0.18 points	0.17%	0.35%
Fair IsaacFICO	IWP +0.17 points	0.20%	0.37%
Echostar Class AECHO	IWP +0.17 points	0.18%	0.35%
Rollins IncROL	IWP +0.16 points	0.15%	0.31%
MksMKSI	IMCG +0.16 points	0.20%	0.04%
Centene CorpCNC	IMCG +0.16 points	0.24%	0.08%
Ameriprise Finance IncAMP	IMCG +0.15 points	0.26%	0.11%
Keysight TechnologiesKEYS	IWP +0.15 points	0.76%	0.91%
Ast Spacemobile Class AASTS	IWP +0.14 points	0.16%	0.30%
Hershey FoodsHSY	IMCG +0.13 points	0.21%	0.08%
Rbc BearingsRBC	IMCG +0.13 points	0.21%	0.08%
Reddit Class ARDDT	IWP +0.13 points	0.25%	0.38%
Clean Harbors IncCLH	IMCG +0.12 points	0.21%	0.09%
Somnigroup InternationalSGI	IMCG +0.11 points	0.18%	0.07%
CorpayCPAY	IWP +0.11 points	0.17%	0.28%
Southwest AirlinesLUV	IMCG +0.11 points	0.16%	0.05%
Costar GroupCSGP	IMCG +0.11 points	0.15%	0.04%
First SolarFSLR	IMCG +0.10 points	0.13%	0.03%
Ttm Technologies IncTTMI	IWP +0.10 points	0.12%	0.22%
Cbre Group Class ACBRE	IMCG +0.10 points	0.21%	0.11%
Technipfmc PLCFTI	IWP +0.09 points	0.23%	0.32%
Williams Sonoma IncWSM	IMCG +0.07 points	0.18%	0.11%

All 259 IMCG 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.

IMCG vs IWP Cost

Overpaying IWP vs IMCG

$3,489

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

IMCG 0.06%
$1,270
IWP 0.23%
$4,759

Amount$10,000

Years30 years

Cost over time

IMCG 0.06%
IWP 0.23%
Overpaying

Year by year

Year	IMCG	IWP	Overpaying
10	$110	$419	$309
20	$432	$1,630	$1,198
30	$1,270	$4,759	$3,489

Expense ratio

0.06%IMCG, cheaper
0.23%IWP

IMCG0.06%IWP0.23%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

IMCG 9th cheapest of 35 funds

IWP 22nd cheapest of 35 funds

IMCG vs IWP Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IMCG 0.67%, better; IWP 0.40%
Payout (12M): IMCG $0.62; IWP $0.53
Last payment: IMCG $0.19; IWP $0.15
Ex-dividend: IMCG Sep 15, 2026; IWP Sep 15, 2026
Paid on: IMCG Sep 18, 2026; IWP Sep 18, 2026
Frequency: IMCG Quarterly; IWP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IMCGQuarterly · 39 paymentsAll IMCG payments⁠

IWPQuarterly · 40 paymentsAll IWP payments⁠

IMCG vs IWP Risk

Fall from peak · 5 years

IMCG
IWP

Risk facts

VolatilityStd dev, 3 years: IMCG 16.6%, betterIWP 17.8%
Return per unit of riskSharpe ratio, 3 years: IMCG 0.97, betterIWP 0.65
Worst fallMax drawdown, 5 years: IMCG −35.1%, betterIWP −38.6%
Market sensitivityBeta, 5 years: IMCG 1.14IWP 1.13; Market = 1

IMCG 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, 2026IMCG
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026IWP
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026IMCG

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IMCG vs IWP

In short

Stated mandate

Why people hold it

Worth knowing

How IMCG and IWP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IMCG

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

The cheap large-cap growth pick is the S&P 500 list

How IMCG and IWP differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IMCG

Only in IWP

Weight gaps