IWP vs SCHG: Grades, Fees and Holdings Compared

iShares Russell Mid-Cap Growth ETF

IWPBNYSE Arca

Schwab U.S. Large-Cap Growth ETF

SCHGANYSE Arca

Overlap

6.3%by weight

Expense ratio

SCHG −0.19pt a year

IWP0.23%SCHG0.04%

Avg volume · 30D

SCHG 9.8×the volume

IWP778KSCHG7.59M

10Y return · a year

SCHG +6.9pt

IWP+11.6%SCHG+18.5%

IWP vs SCHG Performance

Oct 29, 2021 – Oct 30, 2026

+12.4%IWP+74.3%SCHG

Expense ratio: IWP 0.23%; SCHG 0.04%, better
Fund size: IWP $18.5B; SCHG $61.7B
1Y total return: IWP −7.0%; SCHG +3.3%, better
Yield (12M): IWP 0.40%; SCHG 0.40%
Holdings: IWP 275; SCHG 187
Avg volume (30D): IWP 778K sh; SCHG 7.59M sh, better
NAV per share: IWP $131.67; SCHG $34.31
52W range

ETF.net Grade

Pillar letters and Scores for IWP, SCHG, with each pillar’s weight
Pillar	IWP	SCHG
Cost30% weight	D37	A96Higher
Mission25% weight	A96Higher	A92
Risk15% weight	D33	C41Higher
Tradability15% weight	A76	A87Higher
Holdings10% weight	A71Higher	D36
Durability5% weight	B69	A75Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IWP and SCHG 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 ›

SCHG ranks 2nd and IWP 16th 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 2AIMCGiShares Morningstar Mid-Cap Growth ETFScore 78
Rank 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 5AVUGVanguard Morningstar Growth ETFScore 77
Rank 14BVTWGVanguard Russell 2000 Growth ETFScore 66
Rank 16BIWPiShares Russell Mid-Cap Growth ETFScore 61
Rank 16BSTXGStrive 1000 Growth ETFScore 61

Our read on each fund

ETF.net Research

IWPBiShares Russell Mid-Cap Growth ETF

SCHGASchwab U.S. Large-Cap Growth ETF

In short

IWP Mid-cap growth, undiluted: about 300 US companies too big to be startups, too small to be mega-caps, screened by Russell for growth traits. Trading since 2001, which makes it one of the elders of the style.

SCHG Schwab's growth workhorse: roughly 200 large-cap U.S. growth names for four basis points, one of the cheapest tickets in a crowded category. Running since 2009 and among the most heavily traded growth funds around.

Stated mandate

IWP The fund seeks to follow an index of U.S. mid-cap stocks selected for growth characteristics, including measures such as growth forecasts and sales growth.

SCHG SCHG seeks to track, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. It generally invests in stocks included in that index, which represents large-cap U.S. growth equities.

Why people hold it

IWP Does what the label says: follows the Russell MidCap Growth Index closely, holding roughly 300 stocks with no manager guesswork layered on top.
Open since 2001 and now a multi-billion-dollar fund that trades actively, so buying and selling rarely means wrestling with a wide spread.
Fills the gap the giants skip. The cheapest, best-known growth ETFs (VUG, SCHG, SPYG) are large-cap builds; this one stakes out the middle tier of the market.
Distributions land on a quarterly schedule, and the mandate stays entirely in US-listed equities.

SCHG 0.04% a year against a growth-category median of 0.18%. Costs sit near the floor of the group.
Hews closely to the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, one of the tighter index implementations in its peer group.
Live since 2009, a multi-billion-dollar fund, and one of the busier tickers in the growth aisle, so entering and exiting is usually cheap and easy.
The benchmark is carved out of a total-market growth index, not S&P 500 membership, so a stock does not need an index committee's nod to qualify.

Worth knowing

IWP Price of admission: 0.23% a year, above the typical fund in its growth group, and well above large-cap growth rivals that charge a few basis points.
Growth-priced mid-caps are among the choppier corners of the US equity market, and this fund holds them straight, with no value ballast.
One style, one size band. Mid-cap value names and large-cap leaders sit outside the index, so this is a slice, not a core US holding.

SCHG Growth-only by design. Value and dividend-heavy corners of the market sit outside the mandate, so the ride differs from a total-market fund.
Large-cap U.S. only, roughly 200 stocks. No mid-caps, no small-caps, nothing overseas.
VUG charges a hair less for a similar broad-growth mandate. A tiny gap, but it is there. Distributions here arrive quarterly.

Full IWP profile⁠

Full SCHG profile⁠

IWP vs SCHG Holdings

How IWP and SCHG differ

Overlap by weight

6.3%

Shared holdings make up 51.0% of IWP and 6.6% of SCHG.

Level by level

Holdings80 in both6.3%
Sector11 Sectors70.3%
Countryby domicile99.2%
Asset classEquity100%

Sector

Sector weights in IWP and SCHG, widest gap first
Sector	More in IWPMore in SCHG	IWP	SCHG
Technology	SCHG +21.2 points	33.1%	54.3%
Industrials	IWP +10.6 points	17.6%	7.0%
Communication	SCHG +8.6 points	5.1%	13.7%
Health Care	IWP +7.8 points	14.4%	6.6%
Energy	IWP +4.4 points	5.1%	0.7%
Utilities	IWP +2.0 points	2.4%	0.4%
Real Estate	IWP +2.0 points	2.3%	0.3%
Consumer Discretionary	IWP +1.1 points	11.2%	10.1%
Consumer Staples	IWP +1.0 points	2.1%	1.1%
Materials	IWP +0.8 points	1.7%	0.9%
Financials	Same weight	5.0%	5.0%

Country, concentration and asset class

Country by domicile

Country weights in IWP and SCHG, widest gap first
Country	More in IWPMore in SCHG	IWP	SCHG
United States	SCHG +0.6 points	99.2%	99.8%
Other countries (6)	IWP +0.6 points	0.8%	0.2%

Concentration

Weight in the 10 largest Holdings

IWP21.6%
SCHG59.9%

Securities held

IWP272
SCHG187

Asset class

IWP: Equity
SCHG: Equity

Holdings

Only in IWP192
In both80
Only in SCHG107

Only in IWP

192 securities, 48.9% of IWP by weight

Simon Property Group Reit Inc2.12%
Marathon Petroleum2.03%
Cencora1.88%
Fastenal1.48%
Microchip Technology Inc1.25%
Rockwell Automation Inc1.23%
Chipotle Mexican Grill1.23%
Anglogold Ashanti PLC1.11%
Everpure Inc Class A1.04%
Expedia Group0.99%
Dexcom Inc0.94%
Keysight Technologies0.91%
Jabil0.87%
Roblox Class A0.83%
Cardinal Health0.82%
Zoetis Inc Class A0.80%
Ares Management Class A0.77%
Darden Restaurants Inc0.77%
Tapestry0.72%
Ati0.68%
Alnylam Pharmaceuticals0.67%
Xpo0.66%
Guardant Health0.62%
Nrg Energy Inc0.59%
Texas Pacific Land0.59%
Roku Class A0.58%
Sysco0.57%
Heico Class A0.55%
Coreweave Class A0.52%
Viking Holdings Ltd0.47%
Halozyme Therapeutics0.47%
Gartner0.45%
Burlington Stores0.45%
Godaddy Class A0.45%
Manhattan Associates0.44%
Restaurants Brands International0.43%
Netapp Inc0.42%
Ch Robinson Worldwide0.41%
Lattice Semiconductor0.40%
Yum Brands0.39%
Ascendis Pharma0.38%
Semtech0.36%
Fabrinet0.36%
Echostar Class A0.35%
Kimberly Clark0.35%
Bwx Technologies Inc0.35%
Ebay0.32%
Technipfmc PLC0.32%
Rollins Inc0.31%
Draftkings Class A0.30%

Only in SCHG

107 securities, 93.4% of SCHG by weight

NVIDIA12.10%
Apple11.92%
Microsoft9.21%
Amazon Com Inc5.60%
Broadcom Inc4.20%
Alphabet Class A3.90%
Meta Platforms Class A3.74%
Alphabet Class C3.14%
Tesla Inc3.09%
Eli Lilly2.98%
Micron Technology2.86%
Advanced Micro Devices2.51%
Visa Class A1.90%
Mastercard Class A1.40%
Palantir Technologies Class A1.23%
Costco Wholesale Corp1.20%
UnitedHealth Group1.00%
Applied Material Inc0.91%
Ge Aerospace0.88%
Palo Alto Networks0.84%
Caterpillar Inc0.81%
Crowdstrike Holdings Class A0.72%
Thermo Fisher Scientific0.71%
Ge Vernova0.64%
Linde PLC0.63%
Kla0.59%
Sandisk0.53%
Arista Networks0.52%
Walt Disney0.52%
BlackRock0.46%
Deere0.45%
Intuitive Surgical0.43%
Seagate Technology Holdings PLC0.43%
Eaton PLC0.41%
Western Digital Corp0.39%
S&P Global0.38%
Vertex Pharmaceuticals0.37%
Boeing0.37%
Uber Technologies0.36%
Parker-Hannifin0.32%
Mckesson Corp0.31%
Servicenow0.31%
Booking Holdings0.31%
Equinix Reit0.28%
Quanta Services Inc0.26%
Trane Technologies PLC0.26%
Cadence Design Systems0.26%
Vertiv Holdings Class A0.26%
Synopsys0.26%
Intuit0.25%

Weight gaps

All 80 Holdings in both funds, largest gap first.

Holding weights in IWP and SCHG, widest gap first
Holding	More in IWPMore in SCHG	IWP	SCHG
SnowflakeSNOW	IWP +2.81 points	3.12%	0.31%
Cloudflare Class ANET	IWP +2.46 points	2.73%	0.27%
Datadog Inc Class ADDOG	IWP +2.11 points	2.35%	0.24%
Targa ResourcesTRGP	IWP +1.86 points	2.04%	0.18%
Lumentum HoldingsLITE	IWP +1.76 points	1.98%	0.22%
NateraNTRA	IWP +1.55 points	1.72%	0.17%
AutodeskADSK	IWP +1.46 points	1.60%	0.14%
Robinhood Markets Class AHOOD	IWP +1.45 points	1.65%	0.20%
Ww Grainger IncGWW	IWP +1.38 points	1.54%	0.16%
VistraVST	IWP +1.30 points	1.42%	0.12%
Comfort Systems UsaFIX	IWP +1.18 points	1.31%	0.13%
TeradyneTER	IWP +1.18 points	1.31%	0.13%
Royal Caribbean GroupRCL	IWP +1.12 points	1.33%	0.21%
Astera LabsALAB	IWP +1.09 points	1.21%	0.12%
Revolution MedicinesRVMD	IWP +1.01 points	1.11%	0.10%
Idexx LaboratoriesIDXX	IWP +0.99 points	1.11%	0.12%
Take Two Interactive SoftwareTTWO	IWP +0.97 points	1.06%	0.09%
Axon EnterpriseAXON	IWP +0.91 points	1.01%	0.10%
Rocket Lab CorpRKLB	IWP +0.84 points	0.93%	0.09%
Atlassian Corp Class ATEAM	IWP +0.84 points	0.93%	0.09%
Emcor GroupEME	IWP +0.83 points	0.91%	0.08%
Live Nation EntertainmentLYV	IWP +0.79 points	0.87%	0.08%
Credo Technology Group Holding LtdCRDO	IWP +0.69 points	0.77%	0.08%
ZscalerZS	IWP +0.69 points	0.76%	0.07%
Mongodb Class AMDB	IWP +0.68 points	0.76%	0.08%
InsmedINSM	IWP +0.67 points	0.74%	0.07%
Caseys General Stores IncCASY	IWP +0.61 points	0.68%	0.07%
Affirm Holdings Class AAFRM	IWP +0.57 points	0.63%	0.06%
Ftai AviationFTAI	IWP +0.53 points	0.58%	0.05%
WoodwardWWD	IWP +0.50 points	0.55%	0.05%
Coupang Class ACPNG	IWP +0.50 points	0.55%	0.05%
Macom Technology SolutionsMTSI	IWP +0.44 points	0.49%	0.05%
Toast Class ATOST	IWP +0.42 points	0.46%	0.04%
Medpace HoldingsMEDP	IWP +0.41 points	0.45%	0.04%
Samsara Class AIOT	IWP +0.41 points	0.45%	0.04%
Carpenter TechnologyCRS	IWP +0.38 points	0.42%	0.04%
Neurocrine BiosciencesNBIX	IWP +0.34 points	0.38%	0.04%
Rubrik Class ARBRK	IWP +0.33 points	0.39%	0.06%
PenumbraPEN	IWP +0.34 points	0.37%	0.03%
Fair IsaacFICO	IWP +0.33 points	0.37%	0.04%
Reddit Class ARDDT	IWP +0.33 points	0.38%	0.05%
HeicoHEI	IWP +0.33 points	0.42%	0.09%
Bridgebio PharmaBBIO	IWP +0.33 points	0.36%	0.03%
Mastec IncMTZ	IWP +0.33 points	0.36%	0.03%
United RentalsURI	IWP +0.31 points	0.51%	0.20%
InsuletPODD	IWP +0.29 points	0.32%	0.03%
Sterling InfrastructureSTRL	IWP +0.29 points	0.32%	0.03%
Talen EnergyTLN	IWP +0.29 points	0.33%	0.04%
HubspotHUBS	IWP +0.28 points	0.31%	0.03%
SitimeSITM	IWP +0.27 points	0.30%	0.03%
Digitalocean HoldingsDOCN	IWP +0.24 points	0.27%	0.03%
American Airlines GroupAAL	IWP +0.23 points	0.25%	0.02%
Curtiss WrightCW	IWP +0.22 points	0.27%	0.05%
Advanced Energy IndustriesAEIS	IWP +0.21 points	0.24%	0.03%
Tempus Ai Class ATEM	IWP +0.22 points	0.24%	0.02%
Procore Technologies IncPCOR	IWP +0.21 points	0.23%	0.02%
Lpl Financial HoldingsLPLA	IWP +0.19 points	0.25%	0.06%
Cava GroupCAVA	IWP +0.16 points	0.18%	0.02%
NvrNVR	IWP +0.14 points	0.18%	0.04%
Celsius HoldingsCELH	IWP +0.14 points	0.15%	0.01%
Five BelowFIVE	IWP +0.12 points	0.16%	0.04%
CoherentCOHR	IWP +0.12 points	0.25%	0.13%
ElasticESTC	IWP +0.11 points	0.14%	0.03%
Ulta Beauty IncULTA	IWP +0.10 points	0.18%	0.08%
Tko Group Holdings Inc Class ATKO	IWP +0.10 points	0.13%	0.03%
Ies IncIESC	IWP +0.10 points	0.11%	0.01%
Phillips 66PSX	SCHG +0.09 points	0.21%	0.30%
Texas Roadhouse IncTXRH	IWP +0.09 points	0.12%	0.03%
Lennox InternationalLII	IWP +0.07 points	0.10%	0.03%
Dycom Industries IncDY	IWP +0.06 points	0.08%	0.02%
MsciMSCI	SCHG +0.05 points	0.07%	0.12%
Clean Harbors IncCLH	IWP +0.05 points	0.09%	0.04%
Delta Air LinesDAL	SCHG +0.04 points	0.09%	0.13%
Rbc BearingsRBC	IWP +0.04 points	0.08%	0.04%
Workday Class AWDAY	SCHG +0.02 points	0.09%	0.11%
Sofi TechnologiesSOFI	IWP +0.02 points	0.08%	0.06%
DocusignDOCU	SCHG +0.01 points	0.03%	0.04%
Tradeweb Markets Inc Class ATW	SCHG +0.01 points	0.03%	0.04%
MksMKSI	Same weight	0.04%	0.04%
Super Micro Computer IncSMCI	Same weight	0.05%	0.05%

All 272 IWP holdings⁠All 189 SCHG 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.

IWP vs SCHG Cost

Overpaying IWP vs SCHG

$3,910

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

IWP 0.23%
$4,759
SCHG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

IWP 0.23%
SCHG 0.04%
Overpaying

Year by year

Year	IWP	SCHG	Overpaying
10	$419	$73	$346
20	$1,630	$288	$1,342
30	$4,759	$849	$3,910

Expense ratio

0.23%IWP
0.04%SCHG, cheaper

SCHG0.04%IWP0.23%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SCHG 2nd cheapest of 35 funds

IWP 22nd cheapest of 35 funds

IWP vs SCHG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWP 0.40%; SCHG 0.40%
Payout (12M): IWP $0.53; SCHG $0.14
Last payment: IWP $0.15; SCHG $0.04
Ex-dividend: IWP Sep 15, 2026; SCHG Sep 23, 2026
Paid on: IWP Sep 18, 2026; SCHG Sep 28, 2026
Frequency: IWP Quarterly; SCHG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWPQuarterly · 40 paymentsAll IWP payments⁠

SCHGQuarterly · 42 paymentsAll SCHG payments⁠

IWP vs SCHG Risk

Fall from peak · 5 years

IWP
SCHG

Risk facts

VolatilityStd dev, 3 years: IWP 17.8%SCHG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: IWP 0.65SCHG 1.16, better
Worst fallMax drawdown, 5 years: IWP −38.6%SCHG −34.6%, better
Market sensitivityBeta, 5 years: IWP 1.13SCHG 1.20; Market = 1

IWP and SCHG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026SCHG
New ETFs
GMO's ETF share class costs more than the fund's $35 million Class III shares
Oct 22, 2026IWP
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SCHG

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IWP vs SCHG

In short

Stated mandate

Why people hold it

Worth knowing

How IWP and SCHG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWP

Only in SCHG

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

GMO's ETF share class costs more than the fund's $35 million Class III shares

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

How IWP and SCHG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWP

Only in SCHG

Weight gaps