IWR vs QQQJ: Grades, Fees and Holdings Compared

iShares Russell Mid-Cap ETF

IWRANYSE Arca

Invesco NASDAQ Next Gen 100 ETF

QQQJBNasdaq

Overlap

11.8%by weight

Expense ratio

QQQJ −0.03pt a year

IWR0.18%QQQJ0.15%

Avg volume · 30D

IWR 12.0×the volume

IWR1.79MQQQJ149K

5Y return · a year

IWR +1.7pt

IWR+7.3%QQQJ+5.6%

IWR vs QQQJ Performance

Oct 29, 2021 – Oct 30, 2026

+42.1%IWR+31.5%QQQJ

Expense ratio: IWR 0.18%; QQQJ 0.15%, better
Fund size: IWR $58.1B; QQQJ $1.17B
1Y total return: IWR +16.3%; QQQJ +20.9%, better
Yield (12M): IWR 1.16%, better; QQQJ 0.75%
Holdings: IWR 827; QQQJ 106
Avg volume (30D): IWR 1.79M sh, better; QQQJ 149K sh
NAV per share: IWR $110.06; QQQJ $43.92
52W range

ETF.net Grade

Pillar letters and Scores for IWR, QQQJ, with each pillar’s weight
Pillar	IWR	QQQJ
Cost30% weight	C43	C54Higher
Mission25% weight	A100Higher	A84
Risk15% weight	B68Higher	C44
Tradability15% weight	A93Higher	A76
Holdings10% weight	A83Higher	D29
Durability5% weight	A86Higher	C45

Rank among US Mid-Cap funds

How we build Categories ›

Same Category. IWR and QQQJ are both graded against the same 13 US Mid-Cap funds, so their Grades compare head to head.

US Mid-Cap⁠

Category · 13 funds

See all 13 ›

IWR ranks 4th and QQQJ 7th of 13 funds in the US Mid-Cap Category.

Rank 1AIMCBiShares Morningstar Mid-Cap ETFScore 82
Rank 2ASCHMSchwab U.S. Mid-Cap ETFScore 80
Rank 3AVOVanguard Morningstar Mid-Cap ETFScore 79
Rank 4AIWRiShares Russell Mid-Cap ETFScore 74
Rank 5ABKMCBNY Mellon US Mid Cap Core Equity ETFScore 70
Rank 6BBBMCJPMorgan BetaBuilders U.S. Mid Cap Equity ETFScore 66
Rank 7BQQQJInvesco NASDAQ Next Gen 100 ETFScore 60
Rank 8BIQSMNYLI Candriam U.S. Mid Cap Equity ETFScore 58

Our read on each fund

ETF.net Research

IWRAiShares Russell Mid-Cap ETF

QQQJBInvesco NASDAQ Next Gen 100 ETF

In short

IWR The Russell mid-cap standard: roughly 800 mid-sized US companies in one ticker, tracked since 2001. Big, heavily traded, and priced a notch above the index-fund floor.

QQQJ Most mid-cap funds sort the market by size and stop there. QQQJ takes the Nasdaq's next tier instead: about 110 innovation-leaning U.S. mid caps from the Nasdaq Next Generation 100 Index, a growthier cut than the standard mid-cap blend.

Stated mandate

IWR The fund seeks to track an index composed of mid-sized U.S. companies.

QQQJ The fund seeks exposure to innovative U.S. mid-cap companies through the Nasdaq Next Generation 100 Index.

Why people hold it

IWR Has tracked the Russell MidCap Index since 2001 and hews to it about as closely as anything in the mid-cap group.ishares.com
Roughly 800 mid-size US names, so no single stock carries the fund.
A multi-billion-dollar fund that trades actively, which tends to keep bid-ask spreads thin for small and large orders alike.
Plain 1940 Act fund paying quarterly distributions. No leverage, no exotic wrapper to babysit.

QQQJ A different slice than the usual mid-cap fund: index-based exposure to innovative U.S. companies via the Nasdaq Next Generation 100 Index, roughly 110 names deep.invesco.com
Costs 0.15% a year, right at the middle of its mid-cap peer group and a shade under IWR at 0.18%.
It does what the label says. The fund stays tightly aligned with its stated index, and it is a billion-dollar-plus Invesco product that pays quarterly.

Worth knowing

IWR 0.18% a year, versus 0.03% for mid-cap rivals like VO and SCHM. Same aisle, different sticker.
Different yardstick than several rivals: Russell MidCap rather than a Morningstar mid-cap index, so the holdings and the size cutoffs differ.
All equity, all US. Nothing here (bonds, cash, foreign stocks) cushions a domestic stock selloff.

QQQJ About 110 Nasdaq-flavored holdings means a tighter, growthier basket than broad mid-cap funds that spread across several hundred stocks, with bigger swings to match.
That 0.15% is five times what plain-vanilla mid-cap indexers charge (VO and SCHM sit at 0.03%). You are paying for the specific screen, not for size exposure.
Launched in 2020, so its track record is short next to mid-cap staples with decades behind them, and it trades in moderate rather than heavy volume.

Full IWR profile⁠

Full QQQJ profile⁠

IWR vs QQQJ Holdings

How IWR and QQQJ differ

Overlap by weight

11.8%

Shared holdings make up 88.1% of QQQJ and 11.8% of IWR.

Level by level

Holdings88 in both11.8%
Sector11 Sectors62.0%
Countryby domicile89.9%
Asset classEquity100%

Sector

Sector weights in IWR and QQQJ, widest gap first
Sector	More in IWRMore in QQQJ	IWR	QQQJ
Technology	QQQJ +18.9 points	16.0%	34.9%
Health Care	QQQJ +13.2 points	12.8%	26.0%
Financials	IWR +12.2 points	13.9%	1.7%
Real Estate	IWR +6.4 points	6.4%	0.0%
Industrials	IWR +6.1 points	16.9%	10.8%
Energy	IWR +6.0 points	7.1%	1.1%
Utilities	IWR +3.0 points	5.7%	2.7%
Consumer Discretionary	QQQJ +3.0 points	8.8%	11.8%
Communication	QQQJ +2.9 points	2.5%	5.4%
Consumer Staples	IWR +2.2 points	5.2%	3.0%
Materials	IWR +2.0 points	4.8%	2.8%

Country, concentration and asset class

Country by domicile

Country weights in IWR and QQQJ, widest gap first
Country	More in IWRMore in QQQJ	IWR	QQQJ
United States	IWR +9.7 points	98.4%	88.7%
Israel	QQQJ +3.7 points	0.0%	3.7%
China	QQQJ +1.9 points	0.0%	1.9%
Mexico	QQQJ +1.5 points	0.2%	1.7%
United Kingdom	QQQJ +0.9 points	0.4%	1.3%
Malaysia	QQQJ +0.5 points	0.0%	0.5%
Other countries (10)	QQQJ +1.2 points	1.0%	2.2%

Concentration

Weight in the 10 largest Holdings

IWR6.5%
QQQJ21.2%

Securities held

IWR823
QQQJ105

Asset class

IWR: Equity
QQQJ: Equity

Holdings

Only in IWR735
In both88
Only in QQQJ17

Only in IWR

735 securities, 88.0% of IWR by weight

Marathon Petroleum0.96%
Phillips 660.83%
Snowflake0.75%
Cloudflare Class A0.66%
Moderna0.59%
Datadog Inc Class A0.57%
Royal Caribbean Group0.57%
United Rentals0.53%
Hewlett Packard Enterprise0.53%
Simon Property Group Reit Inc0.51%
Cheniere Energy0.51%
Digital Realty Trust Reit0.49%
Targa Resources0.49%
Allstate Corp0.49%
Robinhood Markets Class A0.48%
Kinder Morgan0.48%
Lumentum Holdings0.48%
Cencora0.45%
Oneok0.44%
Nucor0.44%
Fastenal0.44%
Ww Grainger Inc0.43%
Devon Energy0.43%
Cardinal Health0.43%
Ametek Inc0.40%
Baker Hughes Class A0.40%
Becton Dickinson0.40%
Realty Income Reit0.39%
Autodesk0.39%
Keysight Technologies0.38%
Edwards Lifesciences0.38%
L3HARRIS Technologies0.38%
Entergy Corp0.38%
Xcel Energy Inc0.36%
Humana0.36%
Agilent Technologies Inc0.36%
Delta Air Lines0.36%
Rockwell Automation Inc0.36%
Fifth Third Bancorp0.36%
Vylor0.36%
PayPal Holdings0.36%
Ford Motor Co0.35%
Exelon Corp0.35%
Westinghouse Air Brake Technologie0.35%
Vivmark Residential0.34%
Nasdaq Inc0.34%
Veeva Systems Class A0.34%
Vistra0.34%
Keurig Dr Pepper Inc0.34%
Occidental Petroleum Corp0.34%

Only in QQQJ

17 securities, 11.9% of QQQJ by weight

Elbit Systems Ltd1.87%
Fiserv Inc1.27%
Argenx SE1.21%
Tower Semiconductor Ltd1.05%
Icon PLC0.82%
Check Point Software Technologies Ltd0.77%
Logitech International SA0.70%
JD.com Inc0.61%
Ryanair Holdings PLC0.55%
Grab Holdings Ltd0.54%
Trip.com Group Ltd0.52%
BioNTech SE0.51%
Sanofi SA0.46%
Baidu Inc0.38%
H World Group Ltd0.36%
Symbotic Inc0.24%
Invesco Government & Agency Portfolio0.03%

Weight gaps

All 88 Holdings in both funds, largest gap first.

Holding weights in IWR and QQQJ, widest gap first
Holding	More in IWRMore in QQQJ	IWR	QQQJ
NateraNTRA	QQQJ +2.70 points	0.41%	3.11%
EbayEBAY	QQQJ +2.30 points	0.36%	2.66%
Illumina IncILMN	QQQJ +1.90 points	0.26%	2.16%
Netapp IncNTAP	QQQJ +1.83 points	0.29%	2.12%
Revolution MedicinesRVMD	QQQJ +1.75 points	0.27%	2.02%
Okta Class AOKTA	QQQJ +1.58 points	0.25%	1.83%
BiogenBIIB	QQQJ +1.55 points	0.27%	1.82%
Steel Dynamics IncSTLD	QQQJ +1.55 points	0.25%	1.80%
Kimberly ClarkKMB	QQQJ +1.55 points	0.26%	1.81%
Flex LtdFLEX	QQQJ +1.47 points	0.23%	1.70%
United Airlines HoldingsUAL	QQQJ +1.44 points	0.25%	1.69%
Atlassian Corp Class ATEAM	QQQJ +1.38 points	0.22%	1.60%
Expedia GroupEXPE	QQQJ +1.36 points	0.24%	1.60%
Credo Technology Group Holding LtdCRDO	QQQJ +1.35 points	0.18%	1.53%
Mongodb Class AMDB	QQQJ +1.33 points	0.20%	1.53%
Medline Class AMDLN	QQQJ +1.28 points	0.11%	1.39%
Royalty Pharma PLC Class ARPRX	QQQJ +1.25 points	0.20%	1.45%
On Semiconductor CorpON	QQQJ +1.24 points	0.21%	1.45%
Roivant Sciences LtdROIV	QQQJ +1.20 points	0.14%	1.34%
VerisignVRSN	QQQJ +1.19 points	0.18%	1.37%
Cognizant Technology Solutions ClaCTSH	QQQJ +1.17 points	0.21%	1.39%
Ulta Beauty IncULTA	QQQJ +1.17 points	0.20%	1.37%
Zoom Communications Class AZM	QQQJ +1.08 points	0.19%	1.27%
United TherapeuticsUTHR	QQQJ +1.08 points	0.18%	1.26%
Guardant HealthGH	QQQJ +1.06 points	0.17%	1.23%
Caseys General Stores IncCASY	QQQJ +1.06 points	0.18%	1.24%
Dollar Tree IncDLTR	QQQJ +1.03 points	0.19%	1.22%
Incyte CorpINCY	QQQJ +1.02 points	0.15%	1.17%
Super Micro Computer IncSMCI	QQQJ +0.99 points	0.13%	1.12%
GlobalfoundriesGFS	QQQJ +0.96 points	0.04%	1.00%
Affirm Holdings Class AAFRM	QQQJ +0.95 points	0.15%	1.10%
Jb Hunt Transport ServicesJBHT	QQQJ +0.91 points	0.12%	1.03%
PtcPTC	QQQJ +0.88 points	0.16%	1.04%
Expand EnergyEXE	QQQJ +0.88 points	0.15%	1.03%
Liberty Media Series CFWONK	QQQJ +0.88 points	0.15%	1.03%
F5FFIV	QQQJ +0.88 points	0.14%	1.02%
CdwCDW	QQQJ +0.88 points	0.14%	1.02%
Ftai AviationFTAI	QQQJ +0.85 points	0.14%	0.99%
Royal GoldRGLD	QQQJ +0.85 points	0.14%	0.99%
Macom Technology SolutionsMTSI	QQQJ +0.83 points	0.12%	0.95%
EvergyEVRG	QQQJ +0.83 points	0.14%	0.97%
Medpace HoldingsMEDP	QQQJ +0.82 points	0.11%	0.93%
Ss and C Technologies HoldingsSSNC	QQQJ +0.81 points	0.12%	0.93%
Nutanix Class ANTNX	QQQJ +0.81 points	0.13%	0.94%
First SolarFSLR	QQQJ +0.81 points	0.13%	0.94%
WoodwardWWD	QQQJ +0.79 points	0.13%	0.92%
NordsonNDSN	QQQJ +0.79 points	0.12%	0.91%
Alliant Energy CorpLNT	QQQJ +0.77 points	0.14%	0.91%
Zebra Technologies Corp Class AZBRA	QQQJ +0.76 points	0.12%	0.88%
Tractor SupplyTSCO	QQQJ +0.74 points	0.13%	0.87%
Rivian Automotive Class ARIVN	QQQJ +0.73 points	0.09%	0.82%
Gen DigitalGEN	QQQJ +0.72 points	0.11%	0.83%
Talen EnergyTLN	QQQJ +0.72 points	0.11%	0.83%
Ascendis PharmaASND	QQQJ +0.67 points	0.10%	0.77%
Echostar Class AECHO	QQQJ +0.67 points	0.10%	0.77%
Lincoln Electric HoldingsLECO	QQQJ +0.66 points	0.11%	0.77%
DocusignDOCU	QQQJ +0.65 points	0.12%	0.77%
Trimble IncTRMB	QQQJ +0.64 points	0.11%	0.75%
Neurocrine BiosciencesNBIX	QQQJ +0.63 points	0.11%	0.74%
Ch Robinson WorldwideCHRW	QQQJ +0.63 points	0.11%	0.74%
Tempus Ai Class ATEM	QQQJ +0.61 points	0.06%	0.67%
Akamai Technologies IncAKAM	QQQJ +0.61 points	0.10%	0.71%
Bridgebio PharmaBBIO	QQQJ +0.61 points	0.09%	0.70%
Fox Class BFOX	QQQJ +0.56 points	0.06%	0.62%
Ast Spacemobile Class AASTS	QQQJ +0.56 points	0.08%	0.64%
Fox Class AFOXA	QQQJ +0.55 points	0.09%	0.64%
Lululemon AthleticaLULU	QQQJ +0.51 points	0.08%	0.59%
Nextpower IncNXT	QQQJ +0.51 points	0.09%	0.60%
CooperCOO	QQQJ +0.50 points	0.08%	0.58%
Sterling InfrastructureSTRL	QQQJ +0.48 points	0.08%	0.56%
IrenIREN	QQQJ +0.45 points	0.06%	0.51%
InsuletPODD	QQQJ +0.44 points	0.08%	0.52%
News Class ANWSA	QQQJ +0.44 points	0.08%	0.52%
Madrigal PharmaceuticalsMDGL	QQQJ +0.43 points	0.06%	0.49%
Draftkings Class ADKNG	QQQJ +0.44 points	0.07%	0.51%
Dominos PizzaDPZ	QQQJ +0.43 points	0.08%	0.51%
Summit TherapeuticsSMMT	QQQJ +0.35 points	0.02%	0.37%
Kratos Defense and Security SolutiKTOS	QQQJ +0.34 points	0.06%	0.40%
Wynn ResortsWYNN	QQQJ +0.34 points	0.04%	0.38%
Ionis PharmaceuticalsIONS	QQQJ +0.31 points	0.05%	0.36%
AerovironmentAVAV	QQQJ +0.30 points	0.04%	0.34%
Liberty Live Holdings Inc Series CLLYVK	QQQJ +0.29 points	0.04%	0.33%
News Class BNWS	QQQJ +0.26 points	0.03%	0.29%
Trade Desk Class ATTD	QQQJ +0.24 points	0.04%	0.28%
Zillow Group Class CZ	QQQJ +0.23 points	0.04%	0.27%
Liberty Live Holdings Inc Series ALLYVA	QQQJ +0.12 points	0.01%	0.13%
Liberty Media Series AFWONA	QQQJ +0.09 points	0.01%	0.10%
Zillow Group Class AZG	QQQJ +0.06 points	<0.01%	0.07%

All 823 IWR holdings⁠All 105 QQQJ 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.

IWR vs QQQJ Cost

Overpaying IWR vs QQQJ

$612

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

IWR 0.18%
$3,749
QQQJ 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

IWR 0.18%
QQQJ 0.15%
Overpaying

Year by year

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

Expense ratio

0.18%IWR
0.15%QQQJ, cheaper

QQQJ0.15%IWR0.18%

0.03%0.79%

Middle half of US Mid-Cap funds
Median 0.15%

QQQJ 6th cheapest of 13 funds

IWR 8th cheapest of 13 funds

IWR vs QQQJ Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWR 1.16%, better; QQQJ 0.75%
Payout (12M): IWR $1.27; QQQJ $0.33
Last payment: IWR $0.33; QQQJ $0.20
Ex-dividend: IWR Sep 15, 2026; QQQJ Sep 21, 2026
Paid on: IWR Sep 18, 2026; QQQJ Sep 25, 2026
Frequency: IWR Quarterly; QQQJ Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWRQuarterly · 36 paymentsAll IWR payments⁠

QQQJQuarterly · 24 paymentsAll QQQJ payments⁠

IWR vs QQQJ Risk

Fall from peak · 5 years

IWR
QQQJ

Risk facts

VolatilityStd dev, 3 years: IWR 14.1%, betterQQQJ 16.0%
Return per unit of riskSharpe ratio, 3 years: IWR 1.08QQQJ 1.22, better
Worst fallMax drawdown, 5 years: IWR −26.2%, betterQQQJ −39.6%
Market sensitivityBeta, 5 years: IWR 1.01QQQJ 1.13; Market = 1

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