IVW vs VUG: Grades, Fees and Holdings Compared

iShares S&P 500 Growth ETF

IVWBNYSE Arca

Vanguard Morningstar Growth ETF

VUGANYSE Arca

Overlap

76.5%by weight

Expense ratio

VUG −0.15pt a year

IVW0.18%VUG0.03%

Avg volume · 30D

VUG 3.8×the volume

IVW1.67MVUG6.32M

10Y return · a year

VUG +0.3pt

IVW+17.3%VUG+17.6%

IVW vs VUG Performance

Oct 29, 2021 – Oct 30, 2026

+72.2%IVW+67.0%VUG

Expense ratio: IVW 0.18%; VUG 0.03%, better
Fund size: IVW $74.7B; VUG $392B
1Y total return: IVW +8.2%, better; VUG +2.7%
Yield (12M): IVW 0.36%; VUG 0.41%, better
Holdings: IVW 154; VUG 136
Avg volume (30D): IVW 1.67M sh; VUG 6.32M sh, better
NAV per share: IVW $134.44; VUG $85.06
52W range

ETF.net Grade

Pillar letters and Scores for IVW, VUG, with each pillar’s weight
Pillar	IVW	VUG
Cost30% weight	C49	A96Higher
Mission25% weight	A98	A99Higher
Risk15% weight	B62Higher	C49
Tradability15% weight	A72Higher	B65
Holdings10% weight	D37Higher	D29
Durability5% weight	A84	A91Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IVW and VUG 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 ›

VUG ranks 5th and IVW 12th of 35 funds in the US Growth Index Category.

Rank 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 5AVUGVanguard Morningstar Growth ETFScore 77
Rank 6AVBKVanguard Morningstar Small-Cap Growth ETFScore 72
Rank 10BMGKVanguard Morningstar Mega Cap Growth ETFScore 68
Rank 12BIVWiShares S&P 500 Growth ETFScore 67
Rank 12BVOOGVanguard S&P 500 Growth ETFScore 67

Our read on each fund

ETF.net Research

IVWBiShares S&P 500 Growth ETF

VUGAVanguard Morningstar Growth ETF

In short

IVW The 2000-vintage original for S&P 500 growth exposure: roughly 150 large caps chosen by a three-factor rules screen, cap-weighted, no manager discretion. Big and liquid, though cheaper trackers of the same benchmark now exist.

VUG Three basis points buys roughly 170 US large-cap growth names. Running since 2004, over $100 billion in assets, and it tracks its index about as closely as an index fund can.

Stated mandate

IVW The fund seeks to track an index of U.S. large-cap stocks exhibiting strong growth characteristics, selected using measures including earnings and revenue growth.

VUG The fund seeks to track a benchmark index measuring the investment return of large-capitalization growth stocks.

Why people hold it

IVW A 2000-vintage original among style ETFs, now a multi-billion-dollar fund whose returns hug its index very closely.
The growth screen is mechanical: sales growth, earnings change to price, and 12-month price momentum. Rules pick the names, not a stock picker.barchart.com
Actively traded with the iShares plumbing behind it, which supports tight spreads on retail-size orders.
Pays a distribution quarterly and sits in the upper half of the US growth cohort on overall build quality.

VUG 0.03% a year against a 0.18% median for its growth peer group. A rival tracking the same declared index charges 0.36%, twelve times more for the same shopping list.vanguard.com
One of the largest and most heavily traded funds in US large-cap growth, and among the tightest index implementations in that group. Deep volume tends to mean thin spreads.
Trading since January 2004, so the record spans full market cycles rather than a backtest. Distributions land quarterly.

Worth knowing

IVW At 0.18%, it costs the category median, while SPYG follows the same S&P 500 Growth benchmark for 0.04% and SCHG runs at 0.04%.
Roughly 150 cap-weighted names, so the biggest growth companies drive most of the movement.
This is one half of a style split: the growth side of the S&P 500 only, with the value side living in a separate fund.barchart.com

VUG Cap-weighted, so the biggest mega-caps dominate the top of the book. That makes it one of the more concentrated portfolios in this cohort.vanguard.com
A style sleeve, not the whole market: growth screens only, large caps only. When growth is out of favor it can swing harder than a total-market fund.
SPYG and SCHG sit at 0.04%, so the price edge is a rounding error. The real gap is how each index defines a growth stock.

Full IVW profile⁠

Full VUG profile⁠

IVW vs VUG Holdings

How IVW and VUG differ

Overlap by weight

76.5%

Shared holdings make up 90.4% of VUG and 79.7% of IVW.

Level by level

Holdings85 in both76.5%
Sector11 Sectors90.0%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in IVW and VUG, widest gap first
Sector	More in IVWMore in VUG	IVW	VUG
Technology	VUG +6.5 points	53.7%	60.2%
Financials	IVW +5.4 points	9.3%	3.9%
Health Care	IVW +2.9 points	7.1%	4.2%
Consumer Discretionary	VUG +1.5 points	8.3%	9.8%
Industrials	IVW +1.4 points	5.8%	4.4%
Communication	VUG +1.3 points	13.4%	14.7%
Utilities	IVW +0.3 points	0.3%	0.0%
Energy	VUG +0.3 points	0.0%	0.3%
Real Estate	VUG +0.3 points	0.6%	0.9%
Consumer Staples	VUG +0.1 points	1.2%	1.3%
Materials	VUG +0.1 points	0.3%	0.4%

Country, concentration and asset class

Country by domicile

Country weights in IVW and VUG, widest gap first
Country	More in IVWMore in VUG	IVW	VUG
United States	VUG +0.2 points	99.8%	100.0%
China	IVW +0.1 points	0.1%	0.0%
Mexico	IVW +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

IVW59.1%
VUG63.1%

Securities held

IVW152
VUG135

Asset class

IVW: Equity
VUG: Equity

Holdings

Only in IVW67
In both85
Only in VUG50

Only in IVW

67 securities, 20.2% of IVW by weight

Berkshire Hathaway Inc Class B2.90%
Micron Technology2.86%
JPMorgan Chase & Co1.75%
Johnson & Johnson1.11%
Caterpillar Inc0.82%
Rtx0.77%
AbbVie0.69%
Cisco Systems Inc0.63%
Philip Morris International0.52%
Amgen Inc0.49%
Goldman Sachs Group0.49%
Coca-Cola0.44%
Morgan Stanley0.38%
Uber Technologies0.38%
International Business Machines Co0.36%
American Express0.33%
Gilead Sciences0.33%
Newmont0.32%
Progressive0.22%
Hca Healthcare0.20%
Parker-Hannifin0.18%
Bank of New York Mellon Corp0.18%
S&P Global0.18%
Cme Group Class A0.17%
Johnson Controls International PLC0.17%
Constellation Energy Corp0.17%
Intuit0.15%
General Dynamics Corp0.14%
Trane Technologies PLC0.14%
Cummins Inc0.13%
Vistra0.13%
Te Connectivity PLC0.12%
Stryker0.12%
Everpure Inc Class A0.12%
United Rentals0.12%
Boston Scientific0.12%
Carnival Corp Ltd0.11%
Ebay0.10%
Kkr and Co Inc0.10%
Ross Stores Inc0.10%
Expedia Group0.09%
Twilio Class A0.09%
Emcor Group0.09%
Apollo Global Management0.08%
Simon Property Group Reit Inc0.08%
Ulta Beauty Inc0.08%
Rockwell Automation Inc0.08%
Caseys General Stores Inc0.07%
Edwards Lifesciences0.07%
Tapestry0.07%

Only in VUG

50 securities, 9.6% of VUG by weight

Intel Corp1.45%
Costco Wholesale Corp1.09%
Western Digital Corp0.44%
Vertex Pharmaceuticals Inc0.37%
Texas Instruments Inc0.36%
Cloudflare Inc0.33%
Snowflake Inc0.32%
Starbucks Corp0.30%
Equinix Inc0.29%
Space Exploration Technologies Corp0.26%
Synopsys Inc0.25%
Dell Technologies Inc0.23%
Motorola Solutions Inc0.22%
Ecolab Inc0.21%
Cintas Corp0.20%
Targa Resources Corp0.18%
Astera Labs Inc0.18%
Fastenal Co0.18%
WW Grainger Inc0.17%
Rocket Lab Corp0.14%
Blackstone Inc0.13%
Coinbase Global Inc0.13%
Chipotle Mexican Grill Inc0.13%
Block Inc0.13%
Waste Connections Inc0.13%
CoreWeave Inc0.11%
Alnylam Pharmaceuticals Inc0.11%
Old Dominion Freight Line Inc0.11%
Vulcan Materials Co0.11%
Atlassian Corp0.10%
West Pharmaceutical Services Inc0.10%
ROBLOX Corp0.10%
MongoDB Inc0.09%
Ares Management Corp0.09%
Super Micro Computer Inc0.09%
Zscaler Inc0.09%
LPL Financial Holdings Inc0.09%
Waters Corp0.08%
Martin Marietta Materials Inc0.06%
HEICO Corp0.06%
Insmed Inc0.06%
Tradeweb Markets Inc0.05%
Texas Pacific Land Corp0.05%
AST SpaceMobile Inc0.05%
SBA Communications Corp0.04%
HEICO Corp0.04%
SLBBH11420.04%
Cerebras Systems Inc0.04%
Symbotic Inc0.03%
Venture Global Inc0.03%

Weight gaps

All 85 Holdings in both funds, largest gap first.

Holding weights in IVW and VUG, widest gap first
Holding	More in IVWMore in VUG	IVW	VUG
AppleAAPL	VUG +5.30 points	7.21%	12.51%
MicrosoftMSFT	IVW +1.36 points	11.11%	9.75%
NVIDIANVDA	IVW +0.70 points	14.19%	13.49%
Amazon.com IncAMZN	VUG +0.68 points	3.58%	4.26%
Tesla IncTSLA	VUG +0.65 points	2.00%	2.65%
Eli LillyLLY	IVW +0.65 points	3.25%	2.60%
Visa Class AV	VUG +0.48 points	1.11%	1.59%
Alphabet Class AGOOGL	VUG +0.45 points	4.71%	5.16%
Marvell TechnologyMRVL	VUG +0.41 points	0.23%	0.64%
Palo Alto NetworksPANW	VUG +0.40 points	0.48%	0.88%
Meta Platforms Class AMETA	VUG +0.34 points	3.89%	4.23%
Seagate Technology Holdings PLCSTX	VUG +0.31 points	0.27%	0.58%
OracleORCL	VUG +0.31 points	0.34%	0.65%
Alphabet Class CGOOG	VUG +0.30 points	3.79%	4.09%
Advanced Micro DevicesAMD	VUG +0.30 points	2.36%	2.66%
Lam ResearchLRCX	VUG +0.25 points	0.86%	1.11%
BoeingBA	VUG +0.24 points	0.17%	0.41%
SandiskSNDK	VUG +0.22 points	0.48%	0.70%
Applied Material IncAMAT	VUG +0.21 points	0.89%	1.10%
ServicenowNOW	VUG +0.20 points	0.19%	0.39%
FortinetFTNT	VUG +0.17 points	0.15%	0.32%
Mastercard Class AMA	VUG +0.17 points	0.99%	1.16%
TjxTJX	VUG +0.17 points	0.24%	0.41%
CorningGLW	VUG +0.15 points	0.19%	0.34%
TeradyneTER	VUG +0.12 points	0.07%	0.19%
Palantir Technologies Class APLTR	IVW +0.11 points	1.21%	1.10%
Broadcom IncAVGO	IVW +0.11 points	4.45%	4.34%
Airbnb Class AABNB	VUG +0.11 points	0.09%	0.20%
KlaKLAC	VUG +0.11 points	0.59%	0.70%
Cadence Design SystemsCDNS	VUG +0.11 points	0.16%	0.27%
Royal Caribbean GroupRCL	IVW +0.10 points	0.22%	0.12%
Moodys CorpMCO	VUG +0.10 points	0.10%	0.20%
Arista NetworksANET	VUG +0.09 points	0.51%	0.60%
Take Two Interactive SoftwareTTWO	VUG +0.08 points	0.05%	0.13%
Workday Class AWDAY	VUG +0.07 points	0.05%	0.12%
Applovin Class AAPP	VUG +0.06 points	0.18%	0.24%
Dexcom IncDXCM	VUG +0.06 points	0.05%	0.11%
Robinhood Markets Class AHOOD	VUG +0.07 points	0.19%	0.26%
Mettler ToledoMTD	VUG +0.06 points	0.05%	0.11%
Carvana Class ACVNA	VUG +0.06 points	0.07%	0.13%
Yum BrandsYUM	VUG +0.06 points	0.06%	0.12%
Bloom Energy Class ABE	VUG +0.06 points	0.17%	0.23%
CoherentCOHR	VUG +0.05 points	0.12%	0.17%
Live Nation EntertainmentLYV	VUG +0.06 points	0.04%	0.10%
Comfort Systems UsaFIX	VUG +0.06 points	0.12%	0.18%
AutodeskADSK	VUG +0.05 points	0.09%	0.14%
Veeva Systems Class AVEEV	VUG +0.06 points	0.08%	0.14%
Reddit Class ARDDT	VUG +0.06 points	0.02%	0.08%
AutozoneAZO	VUG +0.05 points	0.10%	0.15%
MsciMSCI	VUG +0.05 points	0.07%	0.12%
Datadog Inc Class ADDOG	VUG +0.04 points	0.23%	0.27%
Lumentum HoldingsLITE	VUG +0.05 points	0.21%	0.26%
NetflixNFLX	VUG +0.04 points	0.74%	0.78%
Verisk AnalyticsVRSK	VUG +0.04 points	0.04%	0.08%
Axon EnterpriseAXON	VUG +0.04 points	0.07%	0.11%
Ge VernovaGEV	VUG +0.04 points	0.65%	0.69%
Howmet AerospaceHWM	VUG +0.03 points	0.23%	0.26%
Intuitive SurgicalISRG	IVW +0.03 points	0.44%	0.41%
CienaCIEN	VUG +0.03 points	0.13%	0.16%
Interactive Brokers Group Inc ClasIBKR	IVW +0.03 points	0.10%	0.07%
Fair IsaacFICO	VUG +0.03 points	0.02%	0.05%
Booking HoldingsBKNG	VUG +0.02 points	0.32%	0.34%
Monolithic Power Systems IncMPWR	VUG +0.02 points	0.17%	0.19%
WelltowerWELL	IVW +0.02 points	0.48%	0.46%
Marriott International Class AMAR	IVW +0.02 points	0.24%	0.22%
Crowdstrike Holdings Class ACRWD	IVW +0.02 points	0.73%	0.71%
Las Vegas SandsLVS	VUG +0.02 points	0.03%	0.05%
Monster BeverageMNST	IVW +0.02 points	0.19%	0.17%
Doordash Class ADASH	VUG +0.02 points	0.19%	0.21%
Ventas ReitVTR	VUG +0.02 points	0.06%	0.08%
Ge AerospaceGE	IVW +0.02 points	0.47%	0.45%
Hilton Worldwide HoldingsHLT	IVW +0.02 points	0.23%	0.21%
ResmedRMD	VUG +0.02 points	0.05%	0.07%
VerisignVRSN	VUG +0.02 points	0.07%	0.09%
Quanta Services IncPWR	VUG +0.01 points	0.27%	0.28%
Amphenol Corp Class AAPH	VUG +0.01 points	0.56%	0.57%
Flex LtdFLEX	IVW +0.01 points	0.09%	0.08%
Vertiv Holdings Class AVRT	VUG +0.01 points	0.26%	0.27%
Idexx LaboratoriesIDXX	VUG +0.01 points	0.12%	0.13%
First SolarFSLR	Same weight	0.05%	0.05%
Mcdonalds CorpMCD	VUG +0.01 points	0.23%	0.24%
Tko Group Holdings Inc Class ATKO	VUG +0.01 points	0.03%	0.04%
Rollins IncROL	Same weight	0.03%	0.03%
Oreilly Automotive IncORLY	VUG +0.01 points	0.20%	0.21%
Transdigm GroupTDG	Same weight	0.18%	0.18%

All 152 IVW holdings⁠All 166 VUG 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.

IVW vs VUG Cost

Overpaying IVW vs VUG

$3,111

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

IVW 0.18%
$3,749
VUG 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IVW 0.18%
VUG 0.03%
Overpaying

Year by year

Year	IVW	VUG	Overpaying
10	$328	$55	$273
20	$1,281	$216	$1,065
30	$3,749	$638	$3,111

Expense ratio

0.18%IVW
0.03%VUG, cheaper

VUG0.03%IVW0.18%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

VUG cheapest of 35 funds

IVW 17th cheapest of 35 funds

IVW vs VUG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IVW 0.36%; VUG 0.41%, better
Payout (12M): IVW $0.49; VUG $0.35
Last payment: IVW $0.13; VUG $0.09
Ex-dividend: IVW Sep 15, 2026; VUG Sep 28, 2026
Paid on: IVW Sep 18, 2026; VUG Sep 30, 2026
Frequency: IVW Quarterly; VUG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVWQuarterly · 38 paymentsAll IVW payments⁠

VUGQuarterly · 39 paymentsAll VUG payments⁠

IVW vs VUG Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IVW 16.5%, betterVUG 17.3%
Return per unit of riskSharpe ratio, 3 years: IVW 1.27, betterVUG 1.11
Worst fallMax drawdown, 5 years: IVW −32.7%, betterVUG −35.6%
Market sensitivityBeta, 5 years: IVW 1.17VUG 1.23; Market = 1

IVW and VUG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026IVWVUG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026IVWVUG
Head-to-Head
IVW vs. VV: iShares’ growth ETF holds almost nothing Vanguard’s doesn’t, at six times the fee
Oct 28, 2026IVW
Head-to-Head
Own iShares Core S&P 500 ETF, IVV, unless you want the heavier growth bet in Vanguard Morningstar Growth ETF, VUG
Oct 16, 2026VUG
Behind the Index
Oil rose 4.5% and the 10-year yield stood at 5% as two U.S. stocks fell for every one that rose
Sep 15, 2026VUG

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IVW vs VUG

In short

Stated mandate

Why people hold it