IWO vs SPYG: Grades, Fees and Holdings Compared

iShares Russell 2000 Growth ETF

IWOBNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

0.0%by weight

Expense ratio

SPYG −0.20pt a year

IWO0.24%SPYG0.04%

Avg volume · 30D

SPYG 5.4×the volume

IWO459KSPYG2.47M

10Y return · a year

SPYG +7.1pt

IWO+10.2%SPYG+17.3%

IWO vs SPYG Performance

Nov 9, 2021 – Nov 9, 2026

+13.4%IWO+68.4%SPYG

Expense ratio: IWO 0.24%; SPYG 0.04%, better
Fund size: IWO $13.7B; SPYG $51.7B
1Y total return: IWO +11.8%, better; SPYG +10.0%
Yield (12M): IWO 0.47%; SPYG 0.51%, better
Holdings: IWO 1118; SPYG 155
Avg volume (30D): IWO 459K sh; SPYG 2.47M sh, better
NAV per share: IWO $343.90; SPYG $112.22
52W range

ETF.net Grade

Pillar letters and Scores for IWO, SPYG, with each pillar’s weight
Pillar	IWO	SPYG
Cost30% weight	D37	A96Higher
Mission25% weight	A86	A98Higher
Risk15% weight	D38	B61Higher
Tradability15% weight	B68	A95Higher
Holdings10% weight	A82Higher	D36
Durability5% weight	A71	A79Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IWO 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 IWO 16th of 35 funds in the US Growth Index Category.

Rank 1ASPYGState Street SPDR Portfolio S&P 500 Growth ETFScore 84
Rank 2AIMCGiShares Morningstar Mid-Cap Growth ETFScore 78
Rank 16BGGUSGoldman Sachs MarketBeta Russell 1000 Growth Equity ETFScore 60
Rank 16BIWOiShares Russell 2000 Growth ETFScore 60
Rank 16BIWPiShares Russell Mid-Cap Growth ETFScore 60

Our read on each fund

ETF.net Research

IWOBiShares Russell 2000 Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

IWO No data

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

IWO No data

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

IWO No data

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

IWO No data

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 IWO profile⁠

Full SPYG profile⁠

IWO vs SPYG Holdings

How IWO and SPYG differ

Overlap by weight

0.0%

Level by level

Holdings0 in both0.0%
Sector11 Sectors55.6%
Countryby domicile98.8%
Asset classStocks100%

Sector

Sector weights in IWO and SPYG, widest gap first
Sector	Gap	IWO	SPYG
Technology	SPYG +32.5 points	18.1%	50.6%
Health Care	IWO +22.5 points	30.1%	7.6%
Communication	SPYG +11.9 points	2.5%	14.4%
Industrials	IWO +9.6 points	15.2%	5.6%
Energy	IWO +4.9 points	4.9%	0.0%
Materials	IWO +3.7 points	4.1%	0.4%
Real Estate	IWO +1.8 points	2.5%	0.7%
Consumer Discretionary	IWO +1.0 points	10.0%	9.0%
Consumer Staples	IWO +0.6 points	1.9%	1.3%
Financials	IWO +0.4 points	10.5%	10.1%
Utilities	Same weight	0.3%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in IWO and SPYG, widest gap first
Country	More in IWOMore in SPYG	Gap	IWO	SPYG
United States		SPYG +1.0 points	98.8%	99.8%
Other countries (12)		IWO +1.0 points	1.2%	0.2%

Concentration

Weight in the 10 largest Holdings

IWO6.6%
SPYG60.1%

Securities held

IWO1,115
SPYG153

Asset class

IWO: Stocks
SPYG: Stocks

Holdings

Only in IWO1,115
In both0
Only in SPYG153

Only in IWO

1,115 securities, 99.8% of IWO by weight

Glaukos0.89%
Brightspring Health Services Inc0.78%
Jfrog0.76%
Moog Inc Class A0.64%
Brinker International Inc0.62%
Ryman Hospitality Properties Reit0.62%
Healthequity0.60%
Tg Therapeutics0.60%
Protagonist Therapeutics0.56%
Twist Bioscience0.55%
Spyre Therapeutics Inc0.55%
Victoria’s Secret0.55%
Krystal Biotech0.54%
Firstcash Holdings Inc0.52%
Interdigital Inc0.52%
Oscar Health Class A0.51%
Silicon Laboratories0.51%
Zeta Global Holdings Class A0.49%
Praxis Precision Medicines0.48%
Frontdoor Inc0.48%
10X Genomics Class A0.48%
Federal Signal Corp0.48%
Qualys0.47%
Kymera Therapeutics0.47%
Abercrombie and Fitch Class A0.46%
Commvault Systems0.46%
Zurn Elkay Water Solutions Corp0.45%
Lantheus Holdings0.45%
Rhythm Pharmaceuticals0.45%
Compass Inc Class A0.44%
Casella Waste Systems Class A0.43%
Aci Worldwide0.43%
Ligand Pharmaceuticals0.43%
Alkermes0.42%
Esco Technologies0.42%
Vaxcyte0.41%
Xometry Class A0.41%
Stonex Group Inc0.41%
Magnolia Oil Gas Corp Class A0.39%
Hims Hers Health Class A0.39%
Cg Oncology0.39%
Varonis Systems0.39%
Radnet0.38%
Balchem0.37%
Clear Secure Class A0.37%
Cogent Biosciences0.36%
Installed Building Products0.36%
Enpro0.36%
Plexus Corp0.36%
Haemonetics Corp0.36%

Only in SPYG

153 securities, 99.99% of SPYG by weight

NVIDIA Corp13.42%
Microsoft Corp11.71%
Apple Inc7.42%
Alphabet Inc Class A4.97%
Broadcom Inc4.15%
Alphabet Inc Class C4.01%
Amazon.com Inc4.01%
Meta Platforms Inc Class A4.00%
Eli Lilly & Co3.22%
Berkshire Hathaway Inc Class B3.16%
Micron Technology Inc2.32%
Advanced Micro Devices2.18%
Tesla Inc1.86%
JPMorgan Chase & Co1.80%
Visa Inc Class A Shares1.18%
Johnson & Johnson1.17%
Palantir Technologies Inc A1.10%
Mastercard Inc A1.05%
Applied Materials Inc0.79%
Netflix Inc0.78%
Caterpillar Inc0.76%
Rtx Corp0.76%
Lam Research Corp0.75%
AbbVie Inc0.70%
Crowdstrike Holdings Inc A0.66%
Ge Vernova Inc0.61%
Cisco Systems Inc0.58%
Amphenol Corp Class A0.55%
Kla Corp0.54%
Arista Networks Inc0.53%
Welltower Inc0.53%
General Electric0.52%
Philip Morris International0.51%
Amgen Inc0.50%
Goldman Sachs Group Inc0.49%
Intuitive Surgical Inc0.48%
Coca Cola Co/The0.46%
Palo Alto Networks Inc0.43%
Uber Technologies Inc0.42%
Morgan Stanley0.39%
Newmont Corp0.38%
Sandisk Corp0.36%
Booking Holdings Inc0.36%
Intl Business Machines Corp0.36%
Oracle Corp0.35%
American Express Co0.34%
Gilead Sciences Inc0.33%
Applovin Corp Class A0.31%
Marriott International Class A0.26%
McDonald’s Corp0.26%

Weight gaps

IWO and SPYG share no securities.

All 1,118 IWO holdings⁠All 153 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.

IWO vs SPYG Cost

Overpaying IWO vs SPYG

$4,110

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

IWO 0.24%
$4,959
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

IWO 0.24%
SPYG 0.04%
Overpaying

Year by year

Year	IWO	SPYG	Overpaying
10	$437	$73	$364
20	$1,699	$288	$1,411
30	$4,959	$849	$4,110

Expense ratio

0.24%IWO
0.04%SPYG, cheaper

SPYG0.04%IWO0.24%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

IWO 23rd cheapest of 35 funds

IWO vs SPYG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IWO 0.47%; SPYG 0.51%, better
Payout (12M): IWO $1.69; SPYG $0.59
Last payment: IWO $0.41; SPYG $0.15
Ex-dividend: IWO Sep 15, 2026; SPYG Sep 21, 2026
Paid on: IWO Sep 18, 2026; SPYG Sep 23, 2026
Frequency: IWO Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWOQuarterly · 39 paymentsAll IWO payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

IWO vs SPYG Risk

Fall from peak · 5 years

IWO
SPYG

Risk facts

VolatilityStd dev, 3 years: IWO 20.6%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: IWO 0.78SPYG 1.28, better
Worst fallMax drawdown, 5 years: IWO −40.2%SPYG −32.7%, better
Market sensitivityBeta, 5 years: IWO 1.43SPYG 1.18; Market = 1

IWO 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, 2026SPYG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SPYG

Popular comparisons

IWOBvsIMCGA
iShares Russell 2000 Growth ETF · iShares Morningstar Mid-Cap Growth ETF
Expense ratio
0.24% · 0.06%
Category
SPYGAvsSCHGA
State Street SPDR Portfolio S&P 500 Growth ETF · Schwab U.S. Large-Cap Growth ETF
Expense ratio
0.04% · 0.04%
Category
IWOBvsSCHGA
iShares Russell 2000 Growth ETF · Schwab U.S. Large-Cap Growth ETF
Expense ratio
0.24% · 0.04%
Category
SPYGAvsVOOGB
State Street SPDR Portfolio S&P 500 Growth ETF · Vanguard S&P 500 Growth ETF
Expense ratio
0.04% · 0.07%
Category
IWOBvsILCGA
iShares Russell 2000 Growth ETF · iShares Morningstar Growth ETF
Expense ratio
0.24% · 0.04%
Category
SPYGAvsVUGA
State Street SPDR Portfolio S&P 500 Growth ETF · Vanguard Morningstar Growth ETF
Expense ratio
0.04% · 0.03%
Category

IWO vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How IWO and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWO

Only in SPYG

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

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

How IWO and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWO

Only in SPYG

Weight gaps