IWS vs VTV: Grades, Fees and Holdings Compared

iShares Russell Mid-Cap Value ETF

IWSBNYSE Arca

Vanguard Morningstar Value ETF

VTVANYSE Arca

Overlap

18.2%by weight

Expense ratio

VTV −0.20pt a year

IWS0.23%VTV0.03%

Avg volume · 30D

VTV 5.8×the volume

IWS490KVTV2.83M

10Y return · a year

VTV +2.3pt

IWS+10.9%VTV+13.2%

IWS vs VTV Performance

Nov 2, 2021 – Nov 2, 2026

+54.1%IWS+78.8%VTV

Expense ratio: IWS 0.23%; VTV 0.03%, better
Fund size: IWS $14.9B; VTV $252B
1Y total return: IWS +25.6%; VTV +25.6%
Yield (12M): IWS 1.29%; VTV 1.82%, better
Holdings: IWS 722; VTV 311
Avg volume (30D): IWS 490K sh; VTV 2.83M sh, better
NAV per share: IWS $170.03; VTV $228.00
52W range

ETF.net Grade

Pillar letters and Scores for IWS, VTV, with each pillar’s weight
Pillar	IWS	VTV
Cost30% weight	C42	A96Higher
Mission25% weight	A100Higher	A89
Risk15% weight	C47	A84Higher
Tradability15% weight	A79Higher	B65
Holdings10% weight	A79Higher	C51
Durability5% weight	A74	A88Higher

Rank among US Value Index funds

How we build Categories ›

Same Category. IWS and VTV 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 ›

VTV ranks 2nd and IWS 9th 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 8BVTWVVanguard Russell 2000 Value ETFScore 69
Rank 9BIWSiShares Russell Mid-Cap Value ETFScore 68
Rank 9BIWXiShares Russell Top 200 Value ETFScore 68

Our read on each fund

ETF.net Research

IWSBiShares Russell Mid-Cap Value ETF

VTVAVanguard Morningstar Value ETF

In short

IWS No data

VTV Value investing for three cents on every hundred dollars a year. Since 2004, VTV has run a passive, fully invested portfolio of roughly 300 large US companies that screen cheap, at a fee near the industry floor.

Stated mandate

IWS No data

VTV The fund seeks to track a large-capitalization U.S. value-stock benchmark through passive indexing and substantial replication of that index.

Why people hold it

IWS No data

VTV 0.03% a year, about a sixth of the 0.18% median for US value funds. Cost is the part of the outcome the fund actually controls.
Same recipe, very different sticker: PRXV tracks the same declared value index and charges 0.36%, twelve times VTV's fee.
Passively managed, full replication, fully invested. No manager hunches, no cash sitting idle, and the fund has tracked its benchmark closely.vanguard.com
One of the largest and most actively traded funds in the US value aisle, the kind of scale that keeps bid-ask spreads thin for ordinary orders.

Worth knowing

IWS No data

VTV Large caps only, about 300 of them. Cheap mid- and small-cap stocks live in separate funds (VOE, VTWV), so this is one slice of value, not the whole market.
It is a value screen by design, so the priciest fast growers are largely filtered out. In growth-led stretches it can move very differently from a total-market fund.
Income arrives quarterly, in four instalments rather than a monthly drip.

Full IWS profile⁠

Full VTV profile⁠

IWS vs VTV Holdings

How IWS and VTV differ

Overlap by weight

18.2%

Shared holdings make up 50.2% of IWS and 18.4% of VTV.

Level by level

Holdings156 in both18.2%
Sector11 Sectors82.3%
Countryby domicile98.1%
Asset classEquity100%

Sector

Sector weights in IWS and VTV, widest gap first
Sector	More in IWSMore in VTV	IWS	VTV
Financials	VTV +5.5 points	16.9%	22.4%
Real Estate	IWS +5.3 points	7.8%	2.5%
Health Care	VTV +4.8 points	12.0%	16.8%
Consumer Discretionary	IWS +4.1 points	7.8%	3.7%
Technology	VTV +3.5 points	10.8%	14.3%
Industrials	IWS +3.2 points	16.4%	13.2%
Materials	IWS +2.7 points	5.8%	3.1%
Utilities	IWS +2.6 points	6.8%	4.2%
Consumer Staples	VTV +2.4 points	6.3%	8.7%
Communication	VTV +1.3 points	1.7%	3.0%
Energy	VTV +0.3 points	7.9%	8.2%

Country, concentration and asset class

Country by domicile

Country weights in IWS and VTV, widest gap first
Country	More in IWSMore in VTV	IWS	VTV
United States	VTV +1.9 points	98.1%	100.0%
United Kingdom	IWS +0.5 points	0.5%	0.0%
Other countries (10)	IWS +1.4 points	1.4%	0.0%

Concentration

Weight in the 10 largest Holdings

IWS6.8%
VTV23.6%

Securities held

IWS719
VTV309

Asset class

IWS: Equity
VTV: Equity

Holdings

Only in IWS563
In both156
Only in VTV153

Only in IWS

563 securities, 49.6% of IWS by weight

Vylor0.47%
Veeva Systems Class A0.45%
Msci0.40%
Block Class A0.38%
Vulcan Materials0.35%
Workday Class A0.35%
Illumina Inc0.35%
Okta Class A0.33%
Mettler Toledo0.32%
Flex Ltd0.31%
Coinbase Global Class A0.30%
Coherent0.30%
Yum Brands0.29%
West Pharmaceutical Services0.28%
Atmos Energy0.27%
Royalty Pharma PLC Class A0.27%
Twilio Class A0.25%
Verisk Analytics0.25%
Old Dominion Freight Line0.25%
Williams Sonoma Inc0.25%
Verisign0.24%
United Therapeutics0.24%
Us Foods Holding0.22%
Smurfit Westrock PLC0.22%
Reliance Steel & Aluminum0.21%
Omnicom Group Inc0.21%
Viatris0.21%
Amcor PLC0.21%
Tenet Healthcare Corp0.21%
Nisource0.21%
Ptc0.20%
Incyte Corp0.20%
Entegris Inc0.19%
Liberty Media Series C0.19%
Ovintiv0.19%
Expand Energy0.19%
Skyworks Solutions0.19%
Fortive0.19%
Evergy0.19%
Cdw0.19%
Royal Gold0.19%
F50.18%
Dupont De Nemours0.18%
Roivant Sciences Ltd0.18%
Cf Industries Holdings Inc0.18%
Best Buy0.18%
First Citizens Bancshares Class A0.18%
Sofi Technologies0.18%
Apa0.18%
Alliant Energy Corp0.18%

Only in VTV

153 securities, 81.7% of VTV by weight

Micron Technology Inc4.56%
JPMorgan Chase & Co3.33%
Berkshire Hathaway Inc2.92%
ExxonMobil Holdings Corp2.56%
Johnson & Johnson2.42%
AbbVie Inc1.75%
Walmart Inc1.72%
Chevron Corp1.45%
Cisco Systems Inc1.45%
Caterpillar Inc1.41%
Bank of America Corp1.37%
Merck & Co Inc1.36%
Procter & Gamble Co/The1.28%
Coca-Cola Co/The1.26%
UnitedHealth Group Inc1.25%
Philip Morris International Inc1.13%
Home Depot Inc/The1.08%
RTX Corp0.95%
Thermo Fisher Scientific Inc0.95%
Goldman Sachs Group Inc/The0.93%
Wells Fargo & Co0.92%
Amgen Inc0.86%
Morgan Stanley0.84%
Linde PLC0.83%
Citigroup Inc0.82%
International Business Machines Corp0.79%
QUALCOMM Inc0.73%
Analog Devices Inc0.73%
Verizon Communications Inc0.72%
Gilead Sciences Inc0.70%
Walt Disney Co/The0.69%
Salesforce Inc0.68%
PepsiCo Inc0.66%
Deere & Co0.65%
Abbott Laboratories0.65%
AT&T Inc0.63%
Eaton Corp PLC0.63%
Pfizer Inc0.62%
General Electric Co0.61%
Union Pacific Corp0.61%
Charles Schwab Corp/The0.61%
American Express Co0.58%
ConocoPhillips0.57%
NextEra Energy Inc0.57%
Blackrock Inc0.56%
Berkshire Hathaway Inc0.55%
Danaher Corp0.53%
Uber Technologies Inc0.50%
Texas Instruments Inc0.48%
Bristol-Myers Squibb Co0.48%

Weight gaps

The 100 widest of 156 Holdings in both funds.

Holding weights in IWS and VTV, widest gap first
Holding	More in IWSMore in VTV	IWS	VTV
ModernaMRNA	IWS +0.65 points	0.78%	0.13%
Phillips 66PSX	IWS +0.64 points	1.03%	0.39%
Allstate CorpALL	IWS +0.43 points	0.64%	0.21%
Kinder MorganKMI	IWS +0.41 points	0.63%	0.22%
Cheniere EnergyLNG	IWS +0.41 points	0.62%	0.21%
Digital Realty Trust ReitDLR	IWS +0.40 points	0.65%	0.25%
Hewlett Packard EnterpriseHPE	IWS +0.40 points	0.70%	0.30%
OneokOKE	IWS +0.39 points	0.59%	0.20%
NucorNUE	IWS +0.38 points	0.58%	0.20%
Devon EnergyDVN	IWS +0.38 points	0.57%	0.19%
PayPal HoldingsPYPL	IWS +0.36 points	0.47%	0.11%
Waters CorpWAT	IWS +0.36 points	0.44%	0.08%
Becton DickinsonBDX	IWS +0.34 points	0.52%	0.18%
Ventas ReitVTR	IWS +0.34 points	0.42%	0.08%
L3HARRIS TechnologiesLHX	IWS +0.33 points	0.50%	0.17%
Baker Hughes Class ABKR	IWS +0.32 points	0.53%	0.21%
Entergy CorpETR	IWS +0.31 points	0.49%	0.18%
Realty Income ReitO	IWS +0.32 points	0.51%	0.19%
Edwards LifesciencesEW	IWS +0.32 points	0.51%	0.19%
Ametek IncAME	IWS +0.31 points	0.53%	0.22%
Xcel Energy IncXEL	IWS +0.31 points	0.48%	0.17%
Roper TechnologiesROP	IWS +0.31 points	0.44%	0.13%
HumanaHUM	IWS +0.31 points	0.48%	0.17%
United RentalsURI	IWS +0.30 points	0.54%	0.24%
Exelon CorpEXC	IWS +0.30 points	0.46%	0.16%
Keurig Dr Pepper IncKDP	IWS +0.30 points	0.45%	0.15%
Fifth Third BancorpFITB	IWS +0.30 points	0.47%	0.17%
Agilent Technologies IncA	IWS +0.30 points	0.48%	0.18%
Occidental Petroleum CorpOXY	IWS +0.29 points	0.45%	0.16%
Ford Motor CoF	IWS +0.28 points	0.46%	0.18%
Westinghouse Air Brake TechnologieWAB	IWS +0.28 points	0.45%	0.17%
Nasdaq IncNDAQ	IWS +0.27 points	0.45%	0.18%
Vivmark ResidentialVMRK	IWS +0.27 points	0.45%	0.18%
Diamondback EnergyFANG	IWS +0.27 points	0.42%	0.15%
American International GroupAIG	IWS +0.27 points	0.42%	0.15%
Consolidated EdisonED	IWS +0.27 points	0.41%	0.14%
State StreetSTT	IWS +0.27 points	0.44%	0.17%
EqtEQT	IWS +0.26 points	0.32%	0.06%
ResmedRMD	IWS +0.26 points	0.32%	0.06%
Delta Air LinesDAL	IWS +0.26 points	0.45%	0.19%
Crown Castle IncCCI	IWS +0.25 points	0.36%	0.11%
Martin Marietta MaterialsMLM	IWS +0.26 points	0.31%	0.05%
Ferguson EnterprisesFERG	IWS +0.26 points	0.42%	0.16%
GarminGRMN	IWS +0.25 points	0.43%	0.18%
Iqvia Holdings IncIQV	IWS +0.25 points	0.42%	0.17%
KrogerKR	IWS +0.25 points	0.36%	0.11%
Prudential Financial IncPRU	IWS +0.24 points	0.39%	0.15%
Steel Dynamics IncSTLD	IWS +0.24 points	0.30%	0.06%
Centene CorpCNC	IWS +0.24 points	0.30%	0.06%
Wec Energy GroupWEC	IWS +0.24 points	0.36%	0.12%
Carnival Corp LtdCCL	IWS +0.24 points	0.35%	0.11%
BiogenBIIB	IWS +0.23 points	0.36%	0.13%
Cboe Global MarketsCBOE	IWS +0.23 points	0.34%	0.11%
Public Service Enterprise GroupPEG	IWS +0.23 points	0.36%	0.13%
PaychexPAYX	IWS +0.23 points	0.35%	0.12%
Arch Capital GroupACGL	IWS +0.23 points	0.34%	0.11%
KenvueKVUE	IWS +0.22 points	0.35%	0.13%
Ge Healthcare TechnologiesGEHC	IWS +0.23 points	0.34%	0.11%
Hartford Insurance GroupHIG	IWS +0.22 points	0.35%	0.13%
D R HortonDHI	IWS +0.22 points	0.35%	0.13%
Ameriprise Finance IncAMP	IWS +0.22 points	0.38%	0.16%
Sunbelt Rentals Holdings IncSUNB	IWS +0.22 points	0.33%	0.11%
Iron Mountain IncIRM	IWS +0.21 points	0.33%	0.12%
Archer Daniels MidlandADM	IWS +0.22 points	0.36%	0.14%
EbayEBAY	IWS +0.21 points	0.37%	0.16%
DowDOW	IWS +0.20 points	0.24%	0.04%
Extra Space Storage ReitEXR	IWS +0.20 points	0.31%	0.11%
HalliburtonHAL	IWS +0.20 points	0.29%	0.09%
Marathon PetroleumMPC	IWS +0.20 points	0.62%	0.42%
Royal Caribbean GroupRCL	IWS +0.19 points	0.32%	0.13%
Ingersoll RandIR	IWS +0.19 points	0.30%	0.11%
Labcorp HoldingsLH	IWS +0.20 points	0.29%	0.09%
International Flavors & FragrancesIFF	IWS +0.19 points	0.23%	0.04%
AmerenAEE	IWS +0.19 points	0.29%	0.10%
Huntington Bancshares IncHBAN	IWS +0.19 points	0.31%	0.12%
M&T BankMTB	IWS +0.19 points	0.31%	0.12%
Willis Towers WatsonWTW	IWS +0.19 points	0.29%	0.10%
Otis WorldwideOTIS	IWS +0.19 points	0.28%	0.09%
Cbre Group Class ACBRE	IWS +0.19 points	0.33%	0.14%
Qnity ElectronicsQ	IWS +0.19 points	0.24%	0.05%
Teledyne TechnologiesTDY	IWS +0.18 points	0.29%	0.11%
Cognizant Technology Solutions ClaCTSH	IWS +0.18 points	0.28%	0.10%
Dollar General CorpDG	IWS +0.18 points	0.28%	0.10%
PG&E CorpPCG	IWS +0.18 points	0.28%	0.10%
American Water WorksAWK	IWS +0.18 points	0.28%	0.10%
Centerpoint EnergyCNP	IWS +0.18 points	0.27%	0.09%
VeraltoVLTO	IWS +0.17 points	0.26%	0.09%
Dte EnergyDTE	IWS +0.17 points	0.27%	0.10%
Fiserv IncFISV	IWS +0.18 points	0.26%	0.08%
Cincinnati FinancialCINF	IWS +0.18 points	0.27%	0.09%
DoverDOV	IWS +0.17 points	0.27%	0.10%
Dollar Tree IncDLTR	IWS +0.17 points	0.25%	0.08%
Quest Diagnostics IncDGX	IWS +0.17 points	0.27%	0.10%
Hubbell IncHUBB	IWS +0.17 points	0.22%	0.05%
Ppl CorpPPL	IWS +0.17 points	0.26%	0.09%
Northern TrustNTRS	IWS +0.17 points	0.28%	0.11%
Ppg IndustriesPPG	IWS +0.17 points	0.26%	0.09%
United Airlines HoldingsUAL	IWS +0.17 points	0.31%	0.14%
Broadridge Financial Solutions IncBR	IWS +0.17 points	0.20%	0.03%
Citizens Financial Group IncCFG	IWS +0.16 points	0.26%	0.10%

All 719 IWS holdings⁠All 331 VTV 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.

IWS vs VTV Cost

Overpaying IWS vs VTV

$4,121

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

IWS 0.23%
$4,759
VTV 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IWS 0.23%
VTV 0.03%
Overpaying

Year by year

Year	IWS	VTV	Overpaying
10	$419	$55	$364
20	$1,630	$216	$1,414
30	$4,759	$638	$4,121

Expense ratio

0.23%IWS
0.03%VTV, cheaper

VTV0.03%IWS0.23%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

VTV cheapest of 40 funds

IWS 23rd cheapest of 40 funds

IWS vs VTV Dividends

Last 12 months to Nov 2, 2026

Yield (12M): IWS 1.29%; VTV 1.82%, better
Payout (12M): IWS $2.21; VTV $4.16
Last payment: IWS $0.59; VTV $1.02
Ex-dividend: IWS Sep 15, 2026; VTV Sep 28, 2026
Paid on: IWS Sep 18, 2026; VTV Sep 30, 2026
Frequency: IWS Quarterly; VTV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWSQuarterly · 39 paymentsAll IWS payments⁠

VTVQuarterly · 39 paymentsAll VTV payments⁠

IWS vs VTV Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IWS 14.1%VTV 11.3%, better
Return per unit of riskSharpe ratio, 3 years: IWS 1.15VTV 1.44, better
Worst fallMax drawdown, 5 years: IWS −21.2%VTV −17.0%, better
Market sensitivityBeta, 5 years: IWS 0.97VTV 0.69; Market = 1

IWS and VTV in the news

All news⁠

Best ETFs
Best value ETFs: Vanguard's 0.03% fund, unless you want Russell's list
Updated Nov 2, 2026VTV
Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026VTV
Head-to-Head
VTV leads VYM over 10 years. The recent gap is one year
Oct 23, 2026VTV
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, 2026VTV
New ETFs
Two old strategies got ETF tickers. Jensen's new one lets a rule pick the stocks.
Oct 5, 2026IWS
New ETFs
Hotchkis & Wiley added an ETF class to its 1997 mid-cap value fund
Oct 5, 2026IWS

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IWS vs VTV

In short

Stated mandate

Why people hold it