IWD vs IWX: Grades, Fees and Holdings Compared

iShares Russell 1000 Value ETF

IWDANYSE Arca

iShares Russell Top 200 Value ETF

IWXBNYSE Arca

Overlap

72.6%by weight

Expense ratio

IWD −0.02pt a year

IWD0.18%IWX0.20%

Avg volume · 30D

IWD 4.2×the volume

IWD2.01MIWX472K

10Y return · a year

IWX +0.5pt

IWD+11.9%IWX+12.4%

IWD vs IWX Performance

Oct 29, 2021 – Oct 30, 2026

+72.9%IWD+81.7%IWX

Expense ratio: IWD 0.18%, better; IWX 0.20%
Fund size: IWD $83.2B; IWX $3.88B
1Y total return: IWD +28.4%; IWX +29.8%, better
Yield (12M): IWD 1.37%, better; IWX 1.35%
Holdings: IWD 874; IWX 155
Avg volume (30D): IWD 2.01M sh, better; IWX 472K sh
NAV per share: IWD $258.68; IWX $113.65
52W range

ETF.net Grade

Pillar letters and Scores for IWD, IWX, with each pillar’s weight
Pillar	IWD	IWX
Cost30% weight	B59Higher	C51
Mission25% weight	A100Higher	A87
Risk15% weight	A79	A88Higher
Tradability15% weight	A96Higher	A78
Holdings10% weight	C42Higher	D31
Durability5% weight	A82Higher	B69

Rank among US Value Index funds

How we build Categories ›

Same Category. IWD and IWX are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

IWD ranks 4th and IWX 9th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 84
Rank 2AVTVVanguard Morningstar Value ETFScore 83
Rank 3AIUSViShares Core S&P U.S. Value ETFScore 81
Rank 4AIWDiShares Russell 1000 Value ETFScore 77
Rank 4AVOEVanguard Morningstar Mid-Cap Value ETFScore 77
Rank 9BIWSiShares Russell Mid-Cap Value ETFScore 68
Rank 9BIWXiShares Russell Top 200 Value ETFScore 68
Rank 9BVBRVanguard Morningstar Small-Cap Value ETFScore 68

Our read on each fund

ETF.net Research

IWDAiShares Russell 1000 Value ETF

IWXBiShares Russell Top 200 Value ETF

In short

IWD The original Russell 1000 Value tracker, live since 2000 and still one of the most traded ways to own the value half of US large caps. Roughly 900 stocks, followed closely, at a price that reflects the plumbing.

IWX Value investing with a height requirement. IWX runs its cheap-stock screen only across the Russell Top 200, the biggest end of the US market, and holds roughly 150 of them. Large-cap value with no mid-cap drift, on iShares plumbing since 2009.

Stated mandate

IWD The fund seeks to track an index of U.S. large- and mid-cap stocks that may be undervalued relative to comparable companies.

IWX The fund seeks to follow an index of large-cap U.S. stocks that may be undervalued compared with similar companies.

Why people hold it

IWD Follows the Russell 1000 Value Index closely, one of the tightest index-following records among US value funds.
About 900 large- and mid-cap names, so no single stock or sector drives the result.
Trading since 2000 and actively traded, it is among the easier value ETFs to move in and out of, in size.

IWX The mandate stays big. The value screen runs on the Russell Top 200 Value Index, so it is a mega-cap value sleeve, not a large-and-mid grab bag.ishares.com
It hugs the index it advertises closely, and lands in the upper half of its US value peer group on our review.
Seasoned and sizable: trading since 2009, a multi-billion-dollar fund, paying distributions quarterly.

Worth knowing

IWD At 0.18% a year, it costs more than several broad value rivals (VTV 0.03%, SCHV 0.04%, IUSV 0.04%). The extra buys the Russell index and the trading depth.
Holding roughly 900 names out of a 1,000-stock parent index, the value tilt is wide and mild, not a concentrated deep-value bet.ishares.com
Distributions land quarterly, and the amount rides on what the underlying companies pay.

IWX The 0.20% fee sits above the value-cohort median of 0.18%, and far above core rivals like VTV at 0.03% and IUSV at 0.04%.
About 150 mega-caps is a short bench. Value funds holding several hundred names spread sector and single-stock moves more thinly.
Volume is moderate rather than heavy, so spreads can run wider than the busiest value ETFs, which matters most on large or hurried orders.

Full IWD profile⁠

Full IWX profile⁠

IWD vs IWX Holdings

How IWD and IWX differ

Overlap by weight

72.6%

Shared holdings make up 100% of IWX and 72.6% of IWD.

Level by level

Holdings152 in both72.6%
Sector11 Sectors93.6%
Asset classEquity100%
Countryby domicile99.6%

Sector

Sector weights in IWD and IWX, widest gap first
Sector	More in IWDMore in IWX	IWD	IWX
Technology	IWX +3.4 points	20.2%	23.6%
Industrials	IWD +2.2 points	10.5%	8.3%
Real Estate	IWD +1.6 points	3.3%	1.7%
Utilities	IWD +1.2 points	3.5%	2.3%
Consumer Discretionary	IWX +0.8 points	10.2%	11.0%
Materials	IWD +0.9 points	3.5%	2.6%
Financials	IWX +0.6 points	18.3%	18.9%
Consumer Staples	IWX +0.5 points	7.6%	8.1%
Health Care	IWX +0.5 points	13.5%	14.0%
Communication	IWX +0.4 points	2.9%	3.3%
Energy	IWD +0.5 points	6.7%	6.2%

Country, concentration and asset class

Country by domicile

Country weights in IWD and IWX, widest gap first
Country	More in IWDMore in IWX	IWD	IWX
United States	IWX +0.4 points	99.1%	99.5%
Switzerland	Same weight	0.5%	0.5%
United Kingdom	IWD +0.1 points	0.1%	0.0%
Mexico	IWD +0.1 points	0.1%	0.0%
Ireland	IWD +0.1 points	0.1%	0.0%
Canada	Same weight	0.0%	0.0%
Brazil	Same weight	0.0%	0.0%
Australia	Same weight	0.0%	0.0%
Other countries (3)	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

IWD29.3%
IWX40.3%

Securities held

IWD871
IWX152

Asset class

IWD: Equity
IWX: Equity

Holdings

Only in IWD719
In both152
Only in IWX0

Only in IWD

719 securities, 27.3% of IWD by weight

Phillips 660.28%
Moderna0.21%
Hewlett Packard Enterprise0.19%
Digital Realty Trust Reit0.18%
Allstate Corp0.18%
Kinder Morgan0.17%
Cheniere Energy0.17%
Marathon Petroleum0.17%
Oneok0.16%
Nucor0.16%
Devon Energy0.16%
United Rentals0.15%
Ametek Inc0.15%
Baker Hughes Class A0.14%
Becton Dickinson0.14%
Realty Income Reit0.14%
Edwards Lifesciences0.14%
L3HARRIS Technologies0.14%
Entergy Corp0.14%
Xcel Energy Inc0.13%
Humana0.13%
Agilent Technologies Inc0.13%
Fifth Third Bancorp0.13%
Vylor0.13%
PayPal Holdings0.13%
Ford Motor Co0.13%
Exelon Corp0.12%
Westinghouse Air Brake Technologie0.12%
Vivmark Residential0.12%
Nasdaq Inc0.12%
Veeva Systems Class A0.12%
Keurig Dr Pepper Inc0.12%
Occidental Petroleum Corp0.12%
Delta Air Lines0.12%
Roper Technologies0.12%
Waters Corp0.12%
State Street0.12%
Garmin0.12%
American International Group0.12%
Diamondback Energy0.12%
Iqvia Holdings Inc0.12%
Ferguson Enterprises0.11%
Ventas Reit0.11%
Consolidated Edison0.11%
Msci0.11%
Prudential Financial Inc0.11%
Ameriprise Finance Inc0.10%
Block Class A0.10%
Ebay0.10%
Crown Castle Inc0.10%

Only in IWX

0 securities, 0.0% of IWX by weight

Weight gaps

The 100 widest of 152 Holdings in both funds.

Holding weights in IWD and IWX, widest gap first
Holding	More in IWDMore in IWX	IWD	IWX
AppleAAPL	IWX +2.30 points	6.03%	8.33%
Amazon.com IncAMZN	IWX +2.17 points	5.64%	7.81%
MicrosoftMSFT	IWX +1.98 points	5.12%	7.10%
Berkshire Hathaway Inc Class BBRK.B	IWX +0.97 points	2.67%	3.64%
JPMorgan Chase & CoJPM	IWX +0.93 points	2.38%	3.31%
Intel CorporationINTC	IWX +0.73 points	0.79%	1.52%
Exxonmobil Holdings CorpXOM	IWX +0.68 points	2.04%	2.72%
Johnson & JohnsonJNJ	IWX +0.65 points	1.74%	2.39%
Cisco Systems IncCSCO	IWX +0.46 points	1.09%	1.55%
WalmartWMT	IWX +0.44 points	1.31%	1.75%
AbbVieABBV	IWX +0.44 points	1.27%	1.71%
ChevronCVX	IWX +0.40 points	1.15%	1.55%
UnitedHealth GroupUNH	IWX +0.37 points	0.97%	1.34%
Procter & GamblePG	IWX +0.36 points	0.99%	1.35%
Merck & Co IncMRK	IWX +0.32 points	0.98%	1.30%
Bank of AmericaBAC	IWX +0.31 points	0.80%	1.11%
Philip Morris InternationalPM	IWX +0.31 points	0.86%	1.17%
Coca-ColaKO	IWX +0.30 points	0.85%	1.15%
Goldman Sachs GroupGS	IWX +0.28 points	0.68%	0.96%
Thermo Fisher ScientificTMO	IWX +0.27 points	0.68%	0.95%
Wells FargoWFC	IWX +0.26 points	0.67%	0.93%
RtxRTX	IWX +0.26 points	0.71%	0.97%
Meta Platforms Class AMETA	IWX +0.25 points	0.65%	0.90%
QualcommQCOM	IWX +0.24 points	0.46%	0.70%
International Business Machines CoIBM	IWX +0.24 points	0.64%	0.88%
Costco Wholesale CorpCOST	IWX +0.22 points	0.67%	0.89%
Morgan StanleyMS	IWX +0.22 points	0.55%	0.77%
Linde PLCLIN	IWX +0.21 points	0.63%	0.84%
Analog DevicesADI	IWX +0.21 points	0.50%	0.71%
CitigroupC	IWX +0.18 points	0.46%	0.64%
Walt DisneyDIS	IWX +0.19 points	0.51%	0.69%
BlackRockBLK	IWX +0.18 points	0.46%	0.64%
Gilead SciencesGILD	IWX +0.18 points	0.56%	0.74%
SalesforceCRM	IWX +0.18 points	0.48%	0.66%
Mcdonalds CorpMCD	IWX +0.18 points	0.48%	0.66%
Abbott LaboratoriesABT	IWX +0.16 points	0.49%	0.65%
Verizon Communications IncVZ	IWX +0.17 points	0.49%	0.66%
ConocophillipsCOP	IWX +0.16 points	0.50%	0.66%
WelltowerWELL	IWX +0.16 points	0.45%	0.61%
Union PacificUNP	IWX +0.16 points	0.44%	0.60%
Dell Technologies Inc Class CDELL	IWX +0.15 points	0.30%	0.45%
Nextera EnergyNEE	IWX +0.16 points	0.46%	0.62%
PfizerPFE	IWX +0.15 points	0.46%	0.61%
DanaherDHR	IWX +0.15 points	0.39%	0.54%
DeereDE	IWX +0.15 points	0.44%	0.59%
Eaton PLCETN	IWX +0.15 points	0.32%	0.47%
PepsicoPEP	IWX +0.14 points	0.44%	0.58%
Charles SchwabSCHW	IWX +0.14 points	0.35%	0.49%
Accenture PLC Class AACN	IWX +0.13 points	0.42%	0.55%
ProgressivePGR	IWX +0.12 points	0.36%	0.48%
NewmontNEM	IWX +0.12 points	0.30%	0.42%
Capital One Financial CorpCOF	IWX +0.12 points	0.33%	0.45%
S&P GlobalSPGI	IWX +0.13 points	0.36%	0.49%
AT&TT	IWX +0.12 points	0.38%	0.50%
StrykerSYK	IWX +0.12 points	0.27%	0.39%
Parker-HannifinPH	IWX +0.12 points	0.30%	0.42%
American ExpressAXP	IWX +0.12 points	0.31%	0.43%
ChubbCB	IWX +0.12 points	0.34%	0.46%
Vertex PharmaceuticalsVRTX	IWX +0.11 points	0.38%	0.49%
Altria Group IncMO	IWX +0.12 points	0.34%	0.46%
Prologis ReitPLD	IWX +0.12 points	0.32%	0.44%
Medtronic PLCMDT	IWX +0.12 points	0.31%	0.43%
Bristol Myers SquibbBMY	IWX +0.11 points	0.34%	0.45%
Uber TechnologiesUBER	IWX +0.12 points	0.30%	0.42%
Cvs HealthCVS	IWX +0.11 points	0.31%	0.42%
Lowes Companies IncLOW	IWX +0.11 points	0.31%	0.42%
Freeport Mcmoran IncFCX	IWX +0.10 points	0.24%	0.34%
Equinix ReitEQIX	IWX +0.11 points	0.26%	0.37%
Emerson ElectricEMR	IWX +0.11 points	0.24%	0.35%
SouthernSO	IWX +0.11 points	0.28%	0.39%
Johnson Controls International PLCJCI	IWX +0.10 points	0.22%	0.32%
SynopsysSNPS	IWX +0.10 points	0.23%	0.33%
Cme Group Class ACME	IWX +0.10 points	0.29%	0.39%
Us BancorpUSB	IWX +0.10 points	0.24%	0.34%
Bank of New York Mellon CorpBNY	IWX +0.09 points	0.25%	0.34%
CsxCSX	IWX +0.10 points	0.25%	0.35%
Pnc Financial Services GroupPNC	IWX +0.09 points	0.24%	0.33%
Duke Energy CorpDUK	IWX +0.09 points	0.26%	0.35%
WilliamsWMB	IWX +0.09 points	0.24%	0.33%
General Dynamics CorpGD	IWX +0.09 points	0.25%	0.34%
Elevance Health IncELV	IWX +0.09 points	0.24%	0.33%
MarshMRSH	IWX +0.08 points	0.26%	0.34%
Valero Energy CorpVLO	IWX +0.08 points	0.27%	0.35%
TjxTJX	IWX +0.09 points	0.22%	0.31%
Home DepotHD	IWX +0.08 points	0.23%	0.31%
Travelers CompaniesTRV	IWX +0.08 points	0.22%	0.30%
3MMMM	IWX +0.08 points	0.20%	0.28%
Intercontinental Exchange IncICE	IWX +0.08 points	0.25%	0.33%
Eog ResourcesEOG	IWX +0.08 points	0.23%	0.31%
Constellation Energy CorpCEG	IWX +0.08 points	0.21%	0.29%
SlbSLB	IWX +0.08 points	0.21%	0.29%
United Parcel Service Inc Class BUPS	IWX +0.08 points	0.21%	0.29%
CignaCI	IWX +0.07 points	0.21%	0.28%
Northrop Grumman CorpNOC	IWX +0.07 points	0.20%	0.27%
Norfolk Southern CorpNSC	IWX +0.08 points	0.20%	0.28%
Honeywell International IncHON	IWX +0.07 points	0.18%	0.25%
EcolabECL	IWX +0.07 points	0.20%	0.27%
Mondelez International Class AMDLZ	IWX +0.07 points	0.22%	0.29%
Hca HealthcareHCA	IWX +0.07 points	0.18%	0.25%
Oreilly Automotive IncORLY	IWX +0.07 points	0.19%	0.26%

All 871 IWD holdings⁠All 152 IWX 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.

IWD vs IWX Cost

Overpaying IWX vs IWD

$406

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

IWD 0.18%
$3,749
IWX 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

IWD 0.18%
IWX 0.20%
Overpaying

Year by year

Year	IWD	IWX	Overpaying
10	$328	$365	$37
20	$1,281	$1,421	$140
30	$3,749	$4,155	$406

Expense ratio

0.18%IWD, cheaper
0.20%IWX

IWD0.18%IWX0.20%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

IWD 16th cheapest of 40 funds

IWX 19th cheapest of 40 funds

IWD vs IWX Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWD 1.37%, better; IWX 1.35%
Payout (12M): IWD $3.53; IWX $1.54
Last payment: IWD $0.93; IWX $0.40
Ex-dividend: IWD Sep 15, 2026; IWX Sep 15, 2026
Paid on: IWD Sep 18, 2026; IWX Sep 18, 2026
Frequency: IWD Quarterly; IWX Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWDQuarterly · 39 paymentsAll IWD payments⁠

IWXQuarterly · 39 paymentsAll IWX payments⁠

IWD vs IWX Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IWD 12.1%IWX 11.4%, better
Return per unit of riskSharpe ratio, 3 years: IWD 1.42IWX 1.54, better
Worst fallMax drawdown, 5 years: IWD −19.0%IWX −18.1%, better
Market sensitivityBeta, 5 years: IWD 0.85IWX 0.79; Market = 1

IWD and IWX in the news

All news⁠

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One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026IWDIWX
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Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026IWD
Head-to-Head
IWD vs VBR: a lower fee does not buy the other value portfolio
12 hours agoIWD
Category Review
U.S. value funds beat the S&P 500 over the past year, but the funds did not move together
Updated Oct 21, 2026IWD
New ETFs
Avantis Investors' Avantis U.S. Core Equity ETF AVUC overlaps a fund it already runs
Oct 16, 2026IWD
Best ETFs
The best value ETF depends on whose list you bought
Updated Oct 2, 2026IWD

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IWD vs IWX

In short

Stated mandate

Why people hold it