IWD vs PY: Grades, Fees and Holdings Compared

iShares Russell 1000 Value ETF

IWDANYSE Arca

Principal Value ETF

PYBNasdaq

Overlap

35.5%by weight

Expense ratio

PY −0.03pt a year

IWD0.18%PY0.15%

Avg volume · 30D

IWD 132.0×the volume

IWD2.01MPY15.2K

10Y return · a year

IWD +0.4pt

IWD+11.9%PY+11.5%

IWD vs PY Performance

Oct 29, 2021 – Oct 30, 2026

+72.9%IWD+52.7%PY

Expense ratio: IWD 0.18%; PY 0.15%, better
Fund size: IWD $83.2B; PY $246M
1Y total return: IWD +28.4%, better; PY +15.5%
Yield (12M): IWD 1.37%; PY 1.67%, better
Holdings: IWD 874; PY 102
Avg volume (30D): IWD 2.01M sh, better; PY 15.2K sh
NAV per share: IWD $258.68; PY $58.98
52W range

ETF.net Grade

Pillar letters and Scores for IWD, PY, with each pillar’s weight
Pillar	IWD	PY
Cost30% weight	B59	B67Higher
Mission25% weight	A100Higher	B68
Risk15% weight	A79Higher	B58
Tradability15% weight	A96Higher	C50
Holdings10% weight	C42	C42
Durability5% weight	A82Higher	C41

Rank among US Value Index funds

How we build Categories ›

Same Category. IWD and PY 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 PY 17th 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 17BFVALFidelity Value Factor ETFScore 59
Rank 17BPYPrincipal Value ETFScore 59
Rank 17BREVSColumbia Research Enhanced Value ETFScore 59

Our read on each fund

ETF.net Research

IWDAiShares Russell 1000 Value ETF

PYBPrincipal 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.

PY No data

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.

PY No data

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.

PY No data

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.

PY No data

Full IWD profile⁠

Full PY profile⁠

IWD vs PY Holdings

How IWD and PY differ

Overlap by weight

35.5%

Shared holdings make up 89.9% of PY and 42.7% of IWD.

Level by level

Holdings88 in both35.5%
Sector11 Sectors89.4%
Countryby domicile98.4%
Asset classEquity100%

Sector

Sector weights in IWD and PY, widest gap first
Sector	More in IWDMore in PY	IWD	PY
Technology	PY +6.2 points	20.2%	26.4%
Materials	IWD +2.5 points	3.5%	1.0%
Real Estate	IWD +2.5 points	3.3%	0.8%
Utilities	IWD +2.2 points	3.5%	1.3%
Consumer Discretionary	IWD +2.2 points	10.2%	8.0%
Consumer Staples	PY +1.7 points	7.6%	9.3%
Communication	PY +1.6 points	2.9%	4.5%
Financials	IWD +1.1 points	18.3%	17.2%
Health Care	PY +0.9 points	13.5%	14.4%
Industrials	IWD +0.2 points	10.5%	10.3%
Energy	PY +0.1 points	6.7%	6.8%

Country, concentration and asset class

Country by domicile

Country weights in IWD and PY, widest gap first
Country	More in IWDMore in PY	IWD	PY
United States	IWD +1.2 points	99.1%	97.9%
China	PY +0.9 points	0.0%	0.9%
Switzerland	PY +0.7 points	0.5%	1.2%
Other countries (9)	IWD +0.4 points	0.4%	0.0%

Concentration

Weight in the 10 largest Holdings

IWD29.3%
PY26.2%

Securities held

IWD871
PY101

Asset class

IWD: Equity
PY: Equity

Holdings

Only in IWD783
In both88
Only in PY13

Only in IWD

783 securities, 57.1% of IWD by weight

Microsoft5.12%
Berkshire Hathaway Inc Class B2.67%
Philip Morris International0.86%
Rtx0.71%
Goldman Sachs Group0.68%
Meta Platforms Class A0.65%
International Business Machines Co0.64%
Linde PLC0.63%
Gilead Sciences0.56%
Morgan Stanley0.55%
Conocophillips0.50%
Abbott Laboratories0.49%
Mcdonalds Corp0.48%
BlackRock0.46%
Pfizer0.46%
Citigroup0.46%
Welltower0.45%
Union Pacific0.44%
Deere0.44%
Danaher0.39%
AT&T0.38%
S&P Global0.36%
Altria Group Inc0.34%
Eaton PLC0.32%
Prologis Reit0.32%
American Express0.31%
Medtronic PLC0.31%
Lowes Companies Inc0.31%
Uber Technologies0.30%
Parker-Hannifin0.30%
Newmont0.30%
Cme Group Class A0.29%
Southern0.28%
Phillips 660.28%
Valero Energy Corp0.27%
Equinix Reit0.26%
Duke Energy Corp0.26%
Marsh0.26%
Csx0.25%
Intercontinental Exchange Inc0.25%
Bank of New York Mellon Corp0.25%
Emerson Electric0.24%
Regeneron Pharmaceuticals0.24%
Pnc Financial Services Group0.24%
Elevance Health Inc0.24%
Williams0.24%
Freeport Mcmoran Inc0.24%
Synopsys0.23%
Johnson Controls International PLC0.22%
Tjx0.22%

Only in PY

13 securities, 10.1% of PY by weight

Visa Inc Class A Shares Common Stock USD.00011.82%
Mastercard Inc A Common Stock USD.00011.37%
Lockheed Martin Corp Common Stock USD1.01.28%
Texas Instruments Inc Common Stock USD1.00.92%
Te Connectivity PLC Common Stock USD.010.87%
Airbnb Inc Class A Common Stock USD.00010.77%
Marvell Technology Inc Common Stock USD.0020.60%
Tesla Inc Common Stock USD.0010.58%
Godaddy Inc Class A Common Stock USD.0010.58%
Fortinet Inc Common Stock USD.0010.55%
Western Digital Corp Common Stock USD.010.44%
Seagate Technology Holdings Common Stock USD.000010.18%
State Street Institutional Us State St Inst Us Gov Mm Prem0.16%

Weight gaps

All 88 Holdings in both funds, largest gap first.

Holding weights in IWD and PY, widest gap first
Holding	More in IWDMore in PY	IWD	PY
AppleAAPL	PY +3.14 points	6.03%	9.17%
Amazon.com IncAMZN	IWD +2.52 points	5.64%	3.12%
JPMorgan Chase & CoJPM	IWD +2.14 points	2.38%	0.24%
Marathon PetroleumMPC	PY +1.12 points	0.17%	1.29%
Procter & GamblePG	PY +1.04 points	0.99%	2.03%
UnitedHealth GroupUNH	PY +1.03 points	0.97%	2.00%
Automatic Data Processing IncADP	PY +0.93 points	0.20%	1.13%
Bank of AmericaBAC	PY +0.91 points	0.80%	1.71%
ApaAPA	PY +0.88 points	0.05%	0.93%
ChubbCB	PY +0.88 points	0.34%	1.22%
Travelers CompaniesTRV	PY +0.87 points	0.22%	1.09%
Colgate-PalmoliveCL	PY +0.87 points	0.11%	0.98%
CignaCI	PY +0.84 points	0.21%	1.05%
Home DepotHD	PY +0.82 points	0.23%	1.05%
AbbVieABBV	IWD +0.83 points	1.27%	0.44%
Eog ResourcesEOG	PY +0.83 points	0.23%	1.06%
Host Hotels & Resorts ReitHST	PY +0.82 points	0.05%	0.87%
Illinois Tool IncITW	PY +0.82 points	0.15%	0.97%
Ametek IncAME	PY +0.81 points	0.15%	0.96%
MascoMAS	PY +0.82 points	0.04%	0.86%
Capital One Financial CorpCOF	PY +0.81 points	0.33%	1.14%
Honeywell International IncHON	PY +0.80 points	0.18%	0.98%
Sherwin WilliamsSHW	PY +0.79 points	0.15%	0.94%
Us BancorpUSB	PY +0.79 points	0.24%	1.03%
Allstate CorpALL	PY +0.77 points	0.18%	0.95%
Stanley Black & DeckerSWK	PY +0.77 points	0.04%	0.81%
Assurant IncAIZ	PY +0.76 points	0.04%	0.80%
IdexIEX	PY +0.76 points	0.05%	0.81%
PentairPNR	PY +0.75 points	0.03%	0.78%
Verizon Communications IncVZ	PY +0.76 points	0.49%	1.25%
Becton DickinsonBDX	PY +0.76 points	0.14%	0.90%
Jm SmuckerSJM	PY +0.75 points	0.04%	0.79%
Bristol Myers SquibbBMY	PY +0.75 points	0.34%	1.09%
NordsonNDSN	PY +0.74 points	0.04%	0.78%
A O SmithAOS	PY +0.74 points	0.02%	0.76%
Avery Dennison CorpAVY	PY +0.73 points	0.04%	0.77%
Fedex CorpFDX	PY +0.73 points	0.18%	0.91%
Prudential Financial IncPRU	PY +0.73 points	0.11%	0.84%
Broadridge Financial Solutions IncBR	PY +0.74 points	0.05%	0.79%
Accenture PLC Class AACN	PY +0.73 points	0.42%	1.15%
Zoetis Inc Class AZTS	PY +0.72 points	0.02%	0.74%
Charles SchwabSCHW	PY +0.72 points	0.35%	1.07%
PayPal HoldingsPYPL	PY +0.71 points	0.13%	0.84%
Ameriprise Finance IncAMP	PY +0.70 points	0.10%	0.80%
Kraft HeinzKHC	PY +0.69 points	0.06%	0.75%
Omnicom Group IncOMC	PY +0.69 points	0.06%	0.75%
Adobe IncADBE	PY +0.69 points	0.08%	0.77%
SalesforceCRM	PY +0.68 points	0.48%	1.16%
Invesco LtdIVZ	PY +0.68 points	0.03%	0.71%
Molson Coors Brewing Class BTAP	PY +0.67 points	0.02%	0.69%
Dell Technologies Inc Class CDELL	PY +0.67 points	0.30%	0.97%
Merck & Co IncMRK	PY +0.67 points	0.98%	1.65%
Ford Motor CoF	PY +0.66 points	0.13%	0.79%
Comcast Class ACMCSA	PY +0.66 points	0.22%	0.88%
Edison InternationalEIX	PY +0.62 points	0.06%	0.68%
Cvs HealthCVS	PY +0.62 points	0.31%	0.93%
T Mobile Us IncTMUS	PY +0.62 points	0.20%	0.82%
StrykerSYK	PY +0.60 points	0.27%	0.87%
General Dynamics CorpGD	PY +0.60 points	0.25%	0.85%
ProgressivePGR	PY +0.59 points	0.36%	0.95%
Coca-ColaKO	PY +0.59 points	0.85%	1.44%
Hewlett Packard EnterpriseHPE	PY +0.56 points	0.19%	0.75%
ResmedRMD	PY +0.55 points	0.09%	0.64%
Hp IncHPQ	PY +0.55 points	0.07%	0.62%
CorpayCPAY	PY +0.54 points	0.04%	0.58%
QualcommQCOM	PY +0.51 points	0.46%	0.97%
Wells FargoWFC	IWD +0.47 points	0.67%	0.20%
PepsicoPEP	PY +0.45 points	0.44%	0.89%
Lululemon AthleticaLULU	PY +0.45 points	0.03%	0.48%
WalmartWMT	IWD +0.45 points	1.31%	0.86%
Deckers OutdoorDECK	PY +0.44 points	0.03%	0.47%
Analog DevicesADI	PY +0.43 points	0.50%	0.93%
Amgen IncAMGN	PY +0.44 points	0.19%	0.63%
Synchrony FinancialSYF	PY +0.43 points	0.06%	0.49%
IntuitINTU	PY +0.40 points	0.17%	0.57%
Intel CorporationINTC	PY +0.40 points	0.79%	1.19%
Exxonmobil Holdings CorpXOM	IWD +0.39 points	2.04%	1.65%
PaychexPAYX	PY +0.33 points	0.10%	0.43%
Thermo Fisher ScientificTMO	PY +0.33 points	0.68%	1.01%
Cisco Systems IncCSCO	IWD +0.28 points	1.09%	0.81%
Iqvia Holdings IncIQV	PY +0.23 points	0.12%	0.35%
Walt DisneyDIS	PY +0.22 points	0.51%	0.73%
SlbSLB	PY +0.22 points	0.21%	0.43%
Nextera EnergyNEE	PY +0.18 points	0.46%	0.64%
ChevronCVX	PY +0.11 points	1.15%	1.26%
Johnson & JohnsonJNJ	IWD +0.10 points	1.74%	1.64%
Vertex PharmaceuticalsVRTX	PY +0.04 points	0.38%	0.42%
Costco Wholesale CorpCOST	IWD +0.01 points	0.67%	0.66%

All 871 IWD holdings⁠All 100 PY 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 PY Cost

Overpaying IWD vs PY

$612

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

IWD 0.18%
$3,749
PY 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

IWD 0.18%
PY 0.15%
Overpaying

Year by year

Year	IWD	PY	Overpaying
10	$328	$274	$54
20	$1,281	$1,071	$210
30	$3,749	$3,137	$612

Expense ratio

0.18%IWD
0.15%PY, cheaper

PY0.15%IWD0.18%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

PY 13th cheapest of 40 funds

IWD 16th cheapest of 40 funds

IWD vs PY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWD 1.37%; PY 1.67%, better
Payout (12M): IWD $3.53; PY $0.98
Last payment: IWD $0.93; PY $0.22
Ex-dividend: IWD Sep 15, 2026; PY Oct 1, 2026
Paid on: IWD Sep 18, 2026; PY Oct 5, 2026
Frequency: IWD Quarterly; PY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWDQuarterly · 39 paymentsAll IWD payments⁠

PYQuarterly · 40 paymentsAll PY payments⁠

IWD vs PY Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IWD 12.1%, betterPY 12.4%
Return per unit of riskSharpe ratio, 3 years: IWD 1.42, betterPY 1.07
Worst fallMax drawdown, 5 years: IWD −19.0%PY −17.8%, better
Market sensitivityBeta, 5 years: IWD 0.85PY 0.83; Market = 1

IWD and PY in the news

All news⁠

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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
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Updated Oct 2, 2026IWD
Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026IWD

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IWD vs PY

In short

Stated mandate

Why people hold it