IWV vs VTI: Grades, Fees and Holdings Compared

iShares Russell 3000 ETF

IWVBNYSE Arca

Vanguard Morningstar Total Stock Market ETF

VTIANYSE Arca

Overlap

91.8%by weight

Expense ratio

VTI −0.17pt a year

IWV0.20%VTI0.03%

Avg volume · 30D

VTI 16.7×the volume

IWV191KVTI3.19M

10Y return · a year

VTI +0.1pt

IWV+14.5%VTI+14.6%

IWV vs VTI Performance

Nov 9, 2021 – Nov 9, 2026

+63.9%IWV+64.3%VTI

Expense ratio: IWV 0.20%; VTI 0.03%, better
Fund size: IWV $19.7B; VTI $689B
1Y total return: IWV +13.5%; VTI +13.7%, better
Yield (12M): IWV 0.88%; VTI 1.06%, better
Holdings: IWV 2583; VTI 3514
Avg volume (30D): IWV 191K sh; VTI 3.19M sh, better
NAV per share: IWV $417.86; VTI $361.87
52W range

ETF.net Grade

Pillar letters and Scores for IWV, VTI, with each pillar’s weight
Pillar	IWV	VTI
Cost30% weight	D29	A75Higher
Mission25% weight	A100	A100
Risk15% weight	C48	C48
Tradability15% weight	B55	B59Higher
Holdings10% weight	A80Higher	C54
Durability5% weight	A73	A85Higher

Rank among Total US Market funds

How we build Categories ›

Same Category. IWV and VTI are both graded against the same 10 Total US Market funds, so their Grades compare head to head.

Total US Market⁠

Category · 10 funds

See all 10 ›

VTI ranks 3rd and IWV 7th of 10 funds in the Total US Market Category.

Rank 1AITOTiShares Core S&P Total U.S. Stock Market ETFScore 78
Rank 2ASCHBSchwab U.S. Broad Market ETFScore 75
Rank 3ASPTMState Street SPDR Portfolio S&P 1500 Composite Stock Market ETFScore 73
Rank 3AVTIVanguard Morningstar Total Stock Market ETFScore 73
Rank 5BBBUSJPMorgan BetaBuilders U.S. Equity ETFScore 69
Rank 6BDFUSDimensional U.S. Equity ETFScore 65
Rank 7BIWViShares Russell 3000 ETFScore 60
Rank 8BVTHRVanguard Russell 3000 ETFScore 59

Our read on each fund

ETF.net Research

IWVBiShares Russell 3000 ETF

VTIAVanguard Morningstar Total Stock Market ETF

In short

IWV One of the first ETFs to put the entire US stock market in a single ticker, live since 2000 and still hugging the Russell 3000. The trade-off is a legacy price tag: newer total-market rivals cost a fraction of it.

VTI The whole US stock market in one ticker: roughly 3,600 names, from mega caps down to micro caps, for three basis points. Vanguard has run this portfolio in ETF form since 2001, and it's grown into one of the largest funds anywhere.

Stated mandate

IWV The fund seeks to track a broad U.S. equity-market index, the Russell 3000 Index.

VTI The fund aims to replicate the performance of a benchmark index that covers the entire U.S. stock market.

Why people hold it

IWV Trading since 2000, one of the original whole-market wrappers, and it still holds the Russell 3000 top to bottom: mega caps down to small caps in one line item.
Tracking is its strong suit. It has followed the Russell 3000 about as tightly as anything in the total-US-market group.
A multi-billion-dollar fund with steady day-to-day volume, so getting a fill is rarely the hard part.
Boring by design: a plain 1940 Act index fund holding US stocks, mailing out cash quarterly.

VTI Costs 0.03% a year, half the 0.06% typical for its total-market peers.
About 3,600 holdings, so the small and micro caps an S&P 500 fund leaves out are already in the mix.vanguard.com
Tracks its total-market benchmark very closely and trades heavily, and it sits among the strongest implementations in its peer group.
The ETF is a share class of Vanguard's Total Stock Market Index Fund, sharing one portfolio with the mutual fund rather than running a separate copy.sec.gov

Worth knowing

IWV The fee is the story. At 0.20% a year it runs well above the typical total-market ETF, and VTHR tracks the same Russell 3000 index for 0.06%.
VTI, ITOT and SCHB deliver comparable whole-market coverage at 0.03%. You are paying up for the Russell build, not for broader reach.
Straight equity beta: no buffer, no hedge, no cushion. When the US market drops, this drops with it.

VTI Market-cap weighted, so the biggest US companies drive the result and the thousands of small names at the bottom carry little weight.vanguard.com
All US, by design. Nothing outside the country comes with it.
ITOT and SCHB match the 0.03% fee and BBUS runs 0.02%, so rivals deliver similar whole-market exposure for the same or less.

Full IWV profile⁠

Full VTI profile⁠

IWV vs VTI Holdings

How IWV and VTI differ

Overlap by weight

91.8%

Shared holdings make up 99.0% of IWV and 98.8% of VTI.

Level by level

Holdings2,436 in both91.8%
Sector11 Sectors94.7%
Countryby domicile99.4%
Asset classStocks100%

Sector

Sector weights in IWV and VTI, widest gap first
Sector	Gap	IWV	VTI
Technology	VTI +4.2 points	33.9%	38.1%
Financials	IWV +1.5 points	13.0%	11.5%
Consumer Discretionary	IWV +1.2 points	9.9%	8.7%
Health Care	IWV +1.2 points	11.2%	10.0%
Communication	VTI +0.8 points	8.4%	9.2%
Consumer Staples	IWV +0.7 points	4.9%	4.2%
Utilities	IWV +0.2 points	2.1%	1.9%
Real Estate	IWV +0.2 points	2.4%	2.2%
Materials	IWV +0.2 points	2.0%	1.8%
Industrials	VTI +0.2 points	8.6%	8.8%
Energy	IWV +0.1 points	3.7%	3.6%

Country, concentration and asset class

Country by domicile

Country weights in IWV and VTI, widest gap first
Country	More in IWVMore in VTI	Gap	IWV	VTI
United States		VTI +0.6 points	99.4%	100.0%
Other countries (10)		IWV +0.6 points	0.6%	0.0%

Concentration

Weight in the 10 largest Holdings

IWV33.4%
VTI34.6%

Securities held

IWV2,580
VTI3,501

Asset class

IWV: Stocks
VTI: Stocks

Holdings

Only in IWV144
In both2,436
Only in VTI1,065

Only in IWV

144 securities, 0.9% of IWV by weight

Spotify Technology0.13%
Anglogold Ashanti PLC0.07%
Vylor0.07%
Nu Holdings Class A0.06%
Royalty Pharma PLC Class A0.04%
Restaurants Brands International0.04%
Amcor PLC0.03%
Coupang Class A0.03%
Brookfield Asset Management Voting0.03%
Southern Copper Corp0.02%
Gfl Environmental Subordinate Voti0.02%
Viking Holdings Ltd0.02%
Ascendis Pharma0.02%
Qiagen0.01%
On Holding AG Class A0.01%
Millicom International Cellular0.01%
Iren0.01%
Ssr Mining<0.01%
Xp Class A Inc<0.01%
Amer Sports Inc<0.01%
Brookfield Infrastructure Corp Cla<0.01%
Msg Knickerbockers Class A<0.01%
U Haul Non Voting Series N<0.01%
Amdocs<0.01%
Globalfoundries<0.01%
Minimed Inc<0.01%
Brookfield Renewable Subordinate V<0.01%
Crispr Therapeutics AG<0.01%
Livanova PLC<0.01%
Marex Group Ltd<0.01%
Definium Therapeutics Inc<0.01%
Golar Lng<0.01%
Jbs N V NV Class A<0.01%
Scorpio Tankers<0.01%
Xenon Pharmaceuticals<0.01%
Garrett Motion<0.01%
Dht Holdings<0.01%
Kulicke and Soffa Industries Inc<0.01%
Onespaworld Holdings Ltd<0.01%
Aura Minerals Inc<0.01%
Freedom Holding Corp<0.01%
Constellium SE Class A<0.01%
Ubiquiti<0.01%
Aurinia Pharmaceuticals<0.01%
Novagold Resources Inc<0.01%
Bank of Nt Butterfield & Son Ltd<0.01%
Teekay Tankers Ltd Class A<0.01%
Brookfield Business Corp Class A<0.01%
Birkenstock Holding PLC<0.01%
Energy Fuels<0.01%

Only in VTI

1,065 securities, 1.2% of VTI by weight

Seagate Technology Holdings PLC0.28%
SLCMT11420.21%
Warner Bros Discovery Inc0.10%
TE Connectivity PLC0.08%
Waste Connections Inc0.05%
Kenvue Inc0.05%
Berkshire Hathaway Inc0.04%
TRS:GOLDMAN SACHS GROUP INC USD 2027-Aug-310.03%
Qorvo Inc0.01%
Arcosa Inc<0.01%
Madison Square Garden Sports Corp<0.01%
Snap Inc<0.01%
Erie Indemnity Co<0.01%
Cerebras Systems Inc<0.01%
TRS:PAYPAL HOLDINGS INC USD 2026-Aug-31<0.01%
U-Haul Holding Co<0.01%
Pershing Square Inc<0.01%
Venture Global Inc<0.01%
Indivior Pharmaceuticals Inc<0.01%
Paramount Skydance Corp<0.01%
Federated Hermes Inc<0.01%
Warner Music Group Corp<0.01%
TRS:CITIGROUP INC USD 2027-Aug-31<0.01%
Brady Corp<0.01%
LXP Industrial Trust<0.01%
Atkore Inc<0.01%
Netskope Inc<0.01%
Ionic Digital Inc<0.01%
Symbotic Inc<0.01%
CBIZ Inc<0.01%
Energy Fuels Inc/Canada<0.01%
Billiontoone Inc<0.01%
EquipmentShare.com Inc<0.01%
LiveRamp Holdings Inc<0.01%
Arxis Inc<0.01%
Madison Air Solutions Corp<0.01%
Levi Strauss & Co<0.01%
BioLife Solutions Inc<0.01%
ACV Auctions Inc<0.01%
EZCORP Inc<0.01%
E Morn US TM Idx FDec26<0.01%
TRS:ELEVANCE HEALTH INC USD 2026-Aug-31<0.01%
i-80 Gold Corp<0.01%
Andersen Group Inc<0.01%
Generate Biomedicines Inc<0.01%
Oppenheimer Holdings Inc<0.01%
Quantum Corp<0.01%
Apollo Commercial Real Estate Finance Inc<0.01%
Beazer Homes USA Inc<0.01%
Obsidian Therapeutics Inc<0.01%

Weight gaps

The 100 widest of 2,436 Holdings in both funds.

Holding weights in IWV and VTI, widest gap first
Holding	Gap	IWV	VTI
NVIDIANVDA	VTI +0.98 points	6.15%	7.13%
Micron TechnologyMU	VTI +0.54 points	1.10%	1.64%
Alphabet Class AGOOGL	VTI +0.42 points	2.34%	2.76%
Intel CorporationINTC	VTI +0.38 points	0.36%	0.74%
MicrosoftMSFT	IWV +0.38 points	5.57%	5.19%
AppleAAPL	IWV +0.36 points	6.99%	6.63%
Broadcom IncAVGO	VTI +0.35 points	1.93%	2.28%
Advanced Micro DevicesAMD	VTI +0.33 points	1.03%	1.36%
Berkshire Hathaway Inc Class BBRK.B	IWV +0.29 points	1.50%	1.21%
Meta Platforms Class AMETA	VTI +0.29 points	1.89%	2.18%
Alphabet Class CGOOG	VTI +0.27 points	1.91%	2.18%
Amazon.com IncAMZN	IWV +0.25 points	3.55%	3.30%
Lam ResearchLRCX	VTI +0.21 points	0.35%	0.56%
Eli LillyLLY	IWV +0.19 points	1.53%	1.34%
Applied Material IncAMAT	VTI +0.18 points	0.37%	0.55%
Visa Class AV	IWV +0.18 points	1.01%	0.83%
SandiskSNDK	VTI +0.18 points	0.17%	0.35%
WalmartWMT	IWV +0.16 points	0.78%	0.62%
Mastercard Class AMA	IWV +0.15 points	0.74%	0.59%
Caterpillar IncCAT	VTI +0.15 points	0.36%	0.51%
Marvell TechnologyMRVL	VTI +0.15 points	0.17%	0.32%
Tesla IncTSLA	IWV +0.12 points	1.48%	1.36%
Costco Wholesale CorpCOST	IWV +0.11 points	0.66%	0.55%
AbbVieABBV	IWV +0.10 points	0.73%	0.63%
Home DepotHD	IWV +0.09 points	0.48%	0.39%
KlaKLAC	VTI +0.09 points	0.26%	0.35%
Western Digital CorpWDC	VTI +0.08 points	0.13%	0.21%
Palo Alto NetworksPANW	VTI +0.08 points	0.36%	0.44%
Procter & GamblePG	IWV +0.08 points	0.54%	0.46%
Dell Technologies Inc Class CDELL	VTI +0.07 points	0.14%	0.21%
Accenture PLC Class AACN	IWV +0.08 points	0.23%	0.15%
Coca-ColaKO	IWV +0.08 points	0.53%	0.45%
Johnson & JohnsonJNJ	IWV +0.07 points	0.94%	0.87%
JPMorgan Chase & CoJPM	IWV +0.06 points	1.26%	1.20%
Lumentum HoldingsLITE	VTI +0.06 points	0.06%	0.12%
CortevaCTVA	VTI +0.06 points	0.01%	0.07%
Mcdonalds CorpMCD	IWV +0.06 points	0.28%	0.22%
Palantir Technologies Class APLTR	VTI +0.06 points	0.50%	0.56%
UnitedHealth GroupUNH	IWV +0.05 points	0.50%	0.45%
BlackRockBLK	IWV +0.05 points	0.25%	0.20%
Ge VernovaGEV	VTI +0.06 points	0.29%	0.35%
FortinetFTNT	VTI +0.05 points	0.10%	0.15%
Kimberly ClarkKMB	IWV +0.05 points	0.09%	0.04%
Arista NetworksANET	VTI +0.05 points	0.25%	0.30%
Exxonmobil Holdings CorpXOM	IWV +0.04 points	0.96%	0.92%
Crowdstrike Holdings Class ACRWD	VTI +0.04 points	0.31%	0.35%
CorningGLW	VTI +0.04 points	0.12%	0.16%
International Business Machines CoIBM	IWV +0.05 points	0.33%	0.28%
Datadog Inc Class ADDOG	VTI +0.05 points	0.08%	0.13%
Nextera EnergyNEE	IWV +0.04 points	0.26%	0.22%
ServicenowNOW	VTI +0.04 points	0.15%	0.19%
Gilead SciencesGILD	IWV +0.04 points	0.29%	0.25%
Bank of AmericaBAC	VTI +0.04 points	0.45%	0.49%
S&P GlobalSPGI	IWV +0.04 points	0.19%	0.15%
Amgen IncAMGN	IWV +0.04 points	0.35%	0.31%
Eaton PLCETN	VTI +0.04 points	0.19%	0.23%
Walt DisneyDIS	IWV +0.04 points	0.29%	0.25%
Mckesson CorpMCK	IWV +0.04 points	0.18%	0.14%
Bloom Energy Class ABE	VTI +0.04 points	0.07%	0.11%
ModernaMRNA	IWV +0.04 points	0.13%	0.09%
TeradyneTER	VTI +0.04 points	0.05%	0.09%
Linde PLCLIN	IWV +0.04 points	0.34%	0.30%
PepsicoPEP	IWV +0.03 points	0.27%	0.24%
Lowes Companies IncLOW	IWV +0.04 points	0.18%	0.14%
Abbott LaboratoriesABT	IWV +0.04 points	0.27%	0.23%
Astera LabsALAB	VTI +0.04 points	0.04%	0.08%
ChevronCVX	IWV +0.04 points	0.56%	0.52%
OracleORCL	VTI +0.03 points	0.29%	0.32%
Robinhood Markets Class AHOOD	VTI +0.03 points	0.09%	0.12%
Medtronic PLCMDT	IWV +0.03 points	0.18%	0.15%
Cloudflare Class ANET	VTI +0.03 points	0.12%	0.15%
Automatic Data Processing IncADP	IWV +0.03 points	0.17%	0.14%
Philip Morris InternationalPM	IWV +0.03 points	0.44%	0.41%
Ge AerospaceGE	IWV +0.03 points	0.47%	0.44%
Intuitive SurgicalISRG	IWV +0.03 points	0.23%	0.20%
ConocophillipsCOP	IWV +0.02 points	0.23%	0.20%
StrykerSYK	IWV +0.03 points	0.16%	0.13%
Comfort Systems UsaFIX	VTI +0.03 points	0.05%	0.08%
Wells FargoWFC	IWV +0.03 points	0.36%	0.33%
Cme Group Class ACME	IWV +0.03 points	0.16%	0.13%
MarshMRSH	IWV +0.03 points	0.14%	0.11%
American ExpressAXP	IWV +0.03 points	0.24%	0.21%
Vertiv Holdings Class AVRT	VTI +0.03 points	0.10%	0.13%
ChubbCB	IWV +0.03 points	0.18%	0.15%
Altria Group IncMO	IWV +0.03 points	0.18%	0.15%
Marriott International Class AMAR	IWV +0.03 points	0.13%	0.10%
CoherentCOHR	VTI +0.03 points	0.05%	0.08%
Coreweave Class ACRWV	VTI +0.03 points	0.02%	0.05%
IntuitINTU	IWV +0.03 points	0.13%	0.10%
Hewlett Packard EnterpriseHPE	VTI +0.03 points	0.08%	0.11%
Amphenol Corp Class AAPH	VTI +0.02 points	0.26%	0.28%
AT&TT	VTI +0.03 points	0.20%	0.23%
Thermo Fisher ScientificTMO	IWV +0.02 points	0.36%	0.34%
Starbucks CorpSBUX	IWV +0.02 points	0.17%	0.15%
Merck & Co IncMRK	IWV +0.02 points	0.51%	0.49%
NetflixNFLX	VTI +0.03 points	0.37%	0.40%
Royal Caribbean GroupRCL	IWV +0.03 points	0.12%	0.09%
Union PacificUNP	IWV +0.02 points	0.24%	0.22%
WelltowerWELL	IWV +0.02 points	0.25%	0.23%
SouthernSO	IWV +0.02 points	0.15%	0.13%

All 2,588 IWV holdings⁠All 3,519 VTI 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.

IWV vs VTI Cost

Overpaying IWV vs VTI

$3,517

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

IWV 0.20%
$4,155
VTI 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IWV 0.20%
VTI 0.03%
Overpaying

Year by year

Year	IWV	VTI	Overpaying
10	$365	$55	$310
20	$1,421	$216	$1,205
30	$4,155	$638	$3,517

Expense ratio

0.20%IWV
0.03%VTI, cheaper

VTI0.03%IWV0.20%

0.02%0.25%

Middle half of Total US Market funds
Median 0.04%

VTI 2nd cheapest of 10 funds

IWV 8th cheapest of 10 funds

IWV vs VTI Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IWV 0.88%; VTI 1.06%, better
Payout (12M): IWV $3.79; VTI $3.95
Last payment: IWV $1.00; VTI $0.96
Ex-dividend: IWV Sep 15, 2026; VTI Sep 28, 2026
Paid on: IWV Sep 18, 2026; VTI Sep 30, 2026
Frequency: IWV Quarterly; VTI Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWVQuarterly · 39 paymentsAll IWV payments⁠

VTIQuarterly · 39 paymentsAll VTI payments⁠

IWV vs VTI Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IWV 12.6%, betterVTI 12.7%
Return per unit of riskSharpe ratio, 3 years: IWV 1.36VTI 1.37, better
Worst fallMax drawdown, 5 years: IWV −25.1%, betterVTI −25.4%
Market sensitivityBeta, 5 years: IWV 1.02VTI 1.02; Market = 1

IWV and VTI in the news

All news⁠

Head-to-Head
VTI is the better U.S. stock fund, unless you want the Nasdaq-100
1 minute agoVTI
Deep Dive
How VTI tracks the total U.S. stock market within 0.01 point by sampling
22 hours agoVTI
Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026VTI
Deep Dive
VTI tracks the total U.S. stock market - large caps are 69.8% of it
Oct 22, 2026VTI
Price vs Value
Vanguard showed a 1.94% discount on an energy fund that closed two cents above its value
Oct 4, 2026VTI
Best ETFs
The cheap S&P 500 funds tied this year. Equal weight did not.
Updated Oct 2, 2026VTI

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IWV vs VTI

In short

Stated mandate

Why people hold it