IWF vs SPYG: Grades, Fees and Holdings Compared

iShares Russell 1000 Growth ETF

IWFBNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

75.4%by weight

Expense ratio

SPYG −0.14pt a year

IWF0.18%SPYG0.04%

Avg volume · 30D

IWF 2.0×the volume

IWF4.51MSPYG2.28M

10Y return · a year

IWF+17.5%SPYG+17.5%

IWF vs SPYG Performance

Oct 29, 2021 – Oct 30, 2026

+62.2%IWF+73.4%SPYG

Expense ratio: IWF 0.18%; SPYG 0.04%, better
Fund size: IWF $120B; SPYG $55.5B
1Y total return: IWF −2.8%; SPYG +8.3%, better
Yield (12M): IWF 0.37%; SPYG 0.50%, better
Holdings: IWF 375; SPYG 154
Avg volume (30D): IWF 4.51M sh, better; SPYG 2.28M sh
NAV per share: IWF $117.59; SPYG $119.59
52W range

ETF.net Grade

Pillar letters and Scores for IWF, SPYG, with each pillar’s weight
Pillar	IWF	SPYG
Cost30% weight	C49	A96Higher
Mission25% weight	A100Higher	A98
Risk15% weight	D29	B62Higher
Tradability15% weight	A96Higher	A95
Holdings10% weight	C43Higher	D38
Durability5% weight	A86Higher	A79

Rank among US Growth Index funds

How we build Categories ›

Same Category. IWF and SPYG 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 ›

SPYG ranks 1st 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 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

IWFBiShares Russell 1000 Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

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.

SPYG The growth half of the S&P 500 for 0.04% a year, running since 2000. No exotic screen, no reinvention: just the index's fastest-growing names, in the cheapest wrapper tracking that index.

Stated mandate

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.

SPYG The fund seeks to track, before fees and expenses, the total return of the S&P 500 Growth Index. It provides exposure to S&P 500 companies selected for strong growth characteristics.

Why people hold 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.

SPYG Costs 0.04% a year, well under the typical fee in the US growth-ETF group.
The cheapest way to buy the S&P 500 Growth Index: VOOG follows the same benchmark at 0.07%.
Has tracked its index tightly, one of the strongest implementations among growth funds we grade.
Trading since 2000, now a multi-billion-dollar fund that changes hands actively, so spreads stay thin. Pays quarterly.

Worth knowing

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.

SPYG About 150 stocks, not 500. You get the growth slice, which means heavier single-name and sector concentration than the full index.
The index screens on growth and momentum, so rebalances lean into names that have already run and the ride is bumpier than the broad market.
Large-cap US only. No small caps, no international, no bonds.

Full IWF profile⁠

Full SPYG profile⁠

IWF vs SPYG Holdings

How IWF and SPYG differ

Overlap by weight

75.4%

Shared holdings make up 86.9% of SPYG and 86.6% of IWF.

Level by level

Holdings108 in both75.4%
Sector11 Sectors94.1%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in IWF and SPYG, widest gap first
Sector	More in IWFMore in SPYG	IWF	SPYG
Financials	SPYG +4.3 points	4.9%	9.2%
Technology	IWF +2.8 points	55.7%	52.9%
Industrials	IWF +1.6 points	7.2%	5.6%
Health Care	SPYG +0.9 points	6.0%	6.8%
Communication	IWF +0.7 points	15.5%	14.8%
Energy	IWF +0.6 points	0.6%	0.0%
Consumer Discretionary	SPYG +0.4 points	7.9%	8.3%
Real Estate	SPYG +0.2 points	0.4%	0.6%
Consumer Staples	IWF +0.1 points	1.3%	1.2%
Utilities	Same weight	0.3%	0.3%
Materials	Same weight	0.3%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in IWF and SPYG, widest gap first
Country	More in IWFMore in SPYG	IWF	SPYG
United States	SPYG +0.1 points	99.7%	99.8%
Brazil	IWF +0.2 points	0.2%	0.0%
China	SPYG +0.1 points	0.0%	0.1%
Canada	IWF +0.1 points	0.1%	0.0%
Mexico	SPYG +0.1 points	0.0%	0.1%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

IWF56.9%
SPYG58.9%

Securities held

IWF373
SPYG152

Asset class

IWF: Equity
SPYG: Equity

Holdings

Only in IWF265
In both108
Only in SPYG44

Only in IWF

265 securities, 13.3% of IWF by weight

Texas Instrument0.86%
Home Depot0.74%
Costco Wholesale Corp0.59%
Western Digital Corp0.41%
Lockheed Martin0.40%
Snowflake0.34%
Mckesson Corp0.33%
Cloudflare Class A0.30%
Spotify Technology0.27%
Space Exploration Technologies Cor0.24%
Cintas0.23%
Blackstone0.22%
Adobe Inc0.21%
Starbucks Corp0.20%
Targa Resources0.20%
Marathon Petroleum0.20%
Cencora0.19%
Natera0.18%
American Tower Reit0.17%
Ww Grainger Inc0.16%
Fastenal0.15%
Walmart0.14%
Astera Labs0.14%
Microchip Technology Inc0.13%
Automatic Data Processing Inc0.13%
Nu Holdings Class A0.13%
Chipotle Mexican Grill0.12%
Anglogold Ashanti PLC0.12%
Revolution Medicines0.11%
Roblox Class A0.10%
Rocket Lab Corp0.10%
Citigroup0.10%
Atlassian Corp Class A0.10%
Keysight Technologies0.10%
Colgate-Palmolive0.10%
Motorola Solutions Inc0.09%
Mongodb Class A0.08%
Credo Technology Group Holding Ltd0.08%
Cardinal Health0.08%
Zoetis Inc Class A0.08%
Zscaler0.08%
Darden Restaurants Inc0.08%
Ares Management Class A0.08%
Insmed0.07%
Ati0.07%
Eaton PLC0.07%
Illinois Tool Inc0.07%
Alnylam Pharmaceuticals0.07%
Waste Management Inc0.07%
Bank of America0.07%

Only in SPYG

44 securities, 13.1% of SPYG by weight

Berkshire Hathaway Inc Class B2.82%
JPMorgan Chase & Co1.73%
Johnson & Johnson1.09%
Rtx Corp0.75%
Cisco Systems Inc0.63%
Philip Morris International0.51%
Goldman Sachs Group Inc0.49%
Welltower Inc0.47%
Morgan Stanley0.38%
Intl Business Machines Corp0.35%
Newmont Corp0.33%
Gilead Sciences Inc0.31%
Seagate Technology Holdings0.28%
McDonald’s Corp0.22%
Progressive Corp0.21%
O Reilly Automotive Inc0.20%
Hca Healthcare Inc0.20%
Parker Hannifin Corp0.18%
S+p Global Inc0.17%
Cme Group Inc0.17%
General Dynamics Corp0.14%
Stryker Corp0.13%
Te Connectivity PLC0.12%
Boston Scientific Corp0.12%
Carnival Corp Ltd0.10%
Flex Ltd0.10%
Apollo Global Management Inc0.08%
Veeva Systems Inc Class A0.08%
Edwards Lifesciences Corp0.07%
Verisign Inc0.07%
Illumina Inc0.07%
Ventas Inc0.06%
Resmed Inc0.06%
Incyte Corp0.06%
Cboe Global Markets Inc0.05%
Cincinnati Financial Corp0.05%
Mettler Toledo International0.05%
Verisk Analytics Inc0.04%
Steris PLC0.03%
Wr Berkley Corp0.03%
Allegion PLC0.02%
Fox Corp Class A0.02%
Fox Corp Class B0.01%
Norwegian Cruise Line Holdin0.01%

Weight gaps

The 100 widest of 108 Holdings in both funds.

Holding weights in IWF and SPYG, widest gap first
Holding	More in IWFMore in SPYG	IWF	SPYG
MicrosoftMSFT	SPYG +5.01 points	5.98%	10.99%
Amazon.com IncAMZN	SPYG +2.94 points	0.60%	3.54%
Tesla IncTSLA	IWF +1.61 points	3.58%	1.97%
AppleAAPL	IWF +1.19 points	8.30%	7.11%
Visa Class AV	IWF +1.04 points	2.11%	1.07%
NVIDIANVDA	IWF +0.70 points	15.14%	14.44%
Mastercard Class AMA	IWF +0.60 points	1.56%	0.96%
AbbVieABBV	SPYG +0.54 points	0.12%	0.66%
Ge AerospaceGE	IWF +0.51 points	0.98%	0.47%
Palo Alto NetworksPANW	IWF +0.44 points	0.93%	0.48%
Meta Platforms Class AMETA	SPYG +0.44 points	3.41%	3.85%
OracleORCL	IWF +0.38 points	0.73%	0.35%
Alphabet Class AGOOGL	IWF +0.37 points	5.02%	4.65%
Uber TechnologiesUBER	SPYG +0.33 points	0.04%	0.37%
Alphabet Class CGOOG	IWF +0.33 points	4.08%	3.75%
Marvell TechnologyMRVL	IWF +0.33 points	0.58%	0.25%
Coca-ColaKO	SPYG +0.29 points	0.13%	0.42%
Broadcom IncAVGO	IWF +0.30 points	4.88%	4.58%
Eli LillyLLY	IWF +0.26 points	3.33%	3.07%
Micron TechnologyMU	IWF +0.25 points	3.20%	2.95%
Advanced Micro DevicesAMD	IWF +0.22 points	2.80%	2.58%
American ExpressAXP	SPYG +0.17 points	0.15%	0.32%
Bank of New York Mellon CorpBNY	SPYG +0.16 points	0.02%	0.18%
Johnson Controls International PLCJCI	SPYG +0.16 points	0.02%	0.18%
Trane Technologies PLCTT	IWF +0.15 points	0.29%	0.14%
ServicenowNOW	IWF +0.15 points	0.34%	0.19%
Constellation Energy CorpCEG	SPYG +0.14 points	0.02%	0.16%
Simon Property Group Reit IncSPG	IWF +0.13 points	0.21%	0.08%
Cadence Design SystemsCDNS	IWF +0.12 points	0.29%	0.17%
Airbnb Class AABNB	IWF +0.12 points	0.21%	0.09%
CorningGLW	IWF +0.11 points	0.31%	0.20%
FortinetFTNT	IWF +0.11 points	0.26%	0.15%
CoherentCOHR	SPYG +0.10 points	0.03%	0.13%
Monster BeverageMNST	SPYG +0.10 points	0.09%	0.19%
Ross Stores IncROST	IWF +0.09 points	0.19%	0.10%
BoeingBA	IWF +0.09 points	0.26%	0.17%
Twilio Class ATWLO	SPYG +0.08 points	0.02%	0.10%
Royal Caribbean GroupRCL	SPYG +0.09 points	0.13%	0.22%
Applied Material IncAMAT	IWF +0.09 points	1.02%	0.93%
Transdigm GroupTDG	SPYG +0.08 points	0.10%	0.18%
Lam ResearchLRCX	IWF +0.08 points	0.97%	0.89%
Carvana Class ACVNA	IWF +0.07 points	0.14%	0.07%
AutodeskADSK	IWF +0.08 points	0.16%	0.08%
AutozoneAZO	SPYG +0.07 points	0.02%	0.09%
EbayEBAY	SPYG +0.07 points	0.03%	0.10%
TeradyneTER	IWF +0.06 points	0.14%	0.07%
Ge VernovaGEV	IWF +0.07 points	0.73%	0.66%
United RentalsURI	SPYG +0.07 points	0.05%	0.12%
Palantir Technologies Class APLTR	IWF +0.07 points	1.33%	1.26%
Caterpillar IncCAT	IWF +0.06 points	0.89%	0.83%
Amgen IncAMGN	IWF +0.06 points	0.53%	0.47%
Interactive Brokers Group Inc ClasIBKR	SPYG +0.06 points	0.04%	0.10%
NetflixNFLX	IWF +0.06 points	0.78%	0.72%
Ulta Beauty IncULTA	SPYG +0.06 points	0.02%	0.08%
MsciMSCI	SPYG +0.06 points	<0.01%	0.07%
Take Two Interactive SoftwareTTWO	IWF +0.06 points	0.11%	0.05%
IntuitINTU	SPYG +0.06 points	0.08%	0.14%
Kkr and Co IncKKR	SPYG +0.06 points	0.04%	0.10%
KlaKLAC	IWF +0.06 points	0.67%	0.61%
Crowdstrike Holdings Class ACRWD	IWF +0.06 points	0.80%	0.74%
First SolarFSLR	SPYG +0.05 points	<0.01%	0.05%
Ferguson EnterprisesFERG	SPYG +0.05 points	<0.01%	0.06%
Rockwell Automation IncROK	IWF +0.05 points	0.13%	0.08%
Dexcom IncDXCM	IWF +0.05 points	0.09%	0.04%
Amphenol Corp Class AAPH	IWF +0.04 points	0.61%	0.57%
Arista NetworksANET	IWF +0.04 points	0.58%	0.54%
SandiskSNDK	IWF +0.05 points	0.59%	0.54%
Live Nation EntertainmentLYV	IWF +0.05 points	0.09%	0.04%
Marriott International Class AMAR	SPYG +0.04 points	0.20%	0.24%
JabilJBL	IWF +0.04 points	0.09%	0.05%
Workday Class AWDAY	SPYG +0.04 points	<0.01%	0.05%
Booking HoldingsBKNG	IWF +0.03 points	0.35%	0.32%
Intuitive SurgicalISRG	IWF +0.04 points	0.48%	0.44%
Axon EnterpriseAXON	IWF +0.03 points	0.10%	0.07%
Cummins IncCMI	SPYG +0.03 points	0.10%	0.13%
Robinhood Markets Class AHOOD	SPYG +0.02 points	0.18%	0.20%
TjxTJX	SPYG +0.02 points	0.22%	0.24%
Vertiv Holdings Class AVRT	IWF +0.03 points	0.29%	0.26%
Quanta Services IncPWR	IWF +0.02 points	0.29%	0.27%
Reddit Class ARDDT	IWF +0.02 points	0.05%	0.03%
VistraVST	IWF +0.02 points	0.14%	0.12%
Howmet AerospaceHWM	IWF +0.02 points	0.25%	0.23%
Yum BrandsYUM	SPYG +0.02 points	0.04%	0.06%
Nrg Energy IncNRG	IWF +0.02 points	0.06%	0.04%
Tko Group Holdings Inc Class ATKO	SPYG +0.02 points	0.01%	0.03%
Datadog Inc Class ADDOG	IWF +0.02 points	0.27%	0.25%
Fair IsaacFICO	IWF +0.02 points	0.04%	0.02%
Doordash Class ADASH	IWF +0.01 points	0.20%	0.19%
Everpure Inc Class AP	SPYG +0.02 points	0.11%	0.13%
Hilton Worldwide HoldingsHLT	IWF +0.02 points	0.24%	0.22%
Ralph Lauren Class ARL	SPYG +0.01 points	0.03%	0.04%
CienaCIEN	IWF +0.01 points	0.15%	0.14%
Lumentum HoldingsLITE	SPYG +0.01 points	0.22%	0.23%
Idexx LaboratoriesIDXX	SPYG +0.01 points	0.12%	0.13%
Comfort Systems UsaFIX	IWF +0.01 points	0.14%	0.13%
Emcor GroupEME	IWF +0.01 points	0.09%	0.08%
Monolithic Power Systems IncMPWR	IWF +0.01 points	0.17%	0.16%
Expedia GroupEXPE	IWF +0.01 points	0.10%	0.09%
Applovin Class AAPP	Same weight	0.19%	0.19%
TapestryTPR	Same weight	0.07%	0.07%

All 373 IWF holdings⁠All 152 SPYG 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.

IWF vs SPYG Cost

Overpaying IWF vs SPYG

$2,900

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

IWF 0.18%
$3,749
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

IWF 0.18%
SPYG 0.04%
Overpaying

Year by year

Year	IWF	SPYG	Overpaying
10	$328	$73	$255
20	$1,281	$288	$993
30	$3,749	$849	$2,900

Expense ratio

0.18%IWF
0.04%SPYG, cheaper

SPYG0.04%IWF0.18%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

IWF 17th cheapest of 35 funds

IWF vs SPYG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWF 0.37%; SPYG 0.50%, better
Payout (12M): IWF $0.43; SPYG $0.59
Last payment: IWF $0.11; SPYG $0.15
Ex-dividend: IWF Sep 15, 2026; SPYG Sep 21, 2026
Paid on: IWF Sep 18, 2026; SPYG Sep 23, 2026
Frequency: IWF Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWFQuarterly · 39 paymentsAll IWF payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

IWF vs SPYG Risk

Fall from peak · 5 years

IWF
SPYG

Risk facts

VolatilityStd dev, 3 years: IWF 16.8%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: IWF 1.01SPYG 1.28, better
Worst fallMax drawdown, 5 years: IWF −32.7%SPYG −32.7%
Market sensitivityBeta, 5 years: IWF 1.17SPYG 1.17; Market = 1

IWF and SPYG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026IWFSPYG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026IWFSPYG
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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IWF vs SPYG

In short

Stated mandate

Why people hold it