IWY vs SPYG: Grades, Fees and Holdings Compared

iShares Russell Top 200 Growth ETF

IWYBNYSE Arca

State Street SPDR Portfolio S&P 500 Growth ETF

SPYGANYSE Arca

Overlap

74.2%by weight

Expense ratio

SPYG −0.16pt a year

IWY0.20%SPYG0.04%

Avg volume · 30D

SPYG 6.2×the volume

IWY368KSPYG2.28M

10Y return · a year

IWY +1.0pt

IWY+18.5%SPYG+17.5%

IWY vs SPYG Performance

Oct 29, 2021 – Oct 30, 2026

+71.1%IWY+73.4%SPYG

Expense ratio: IWY 0.20%; SPYG 0.04%, better
Fund size: IWY $15.1B; SPYG $55.5B
1Y total return: IWY −2.3%; SPYG +8.3%, better
Yield (12M): IWY 0.35%; SPYG 0.50%, better
Holdings: IWY 103; SPYG 154
Avg volume (30D): IWY 368K sh; SPYG 2.28M sh, better
NAV per share: IWY $276.89; SPYG $119.59
52W range

ETF.net Grade

Pillar letters and Scores for IWY, SPYG, with each pillar’s weight
Pillar	IWY	SPYG
Cost30% weight	C41	A96Higher
Mission25% weight	A100Higher	A98
Risk15% weight	D28	B62Higher
Tradability15% weight	A76	A95Higher
Holdings10% weight	D35	D38Higher
Durability5% weight	B69	A79Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. IWY 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 IWY 19th 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 19BIWOiShares Russell 2000 Growth ETFScore 59
Rank 19BIWYiShares Russell Top 200 Growth ETFScore 59
Rank 19BSNPGXtrackers S&P 500 Growth Scored & Screened ETFScore 59

Our read on each fund

ETF.net Research

IWYBiShares Russell Top 200 Growth ETF

SPYGAState Street SPDR Portfolio S&P 500 Growth ETF

In short

IWY IWY takes the growth half of America's largest companies: about 100 stocks from the Russell Top 200 Growth Index, screened on growth forecasts and sales growth. Big-company growth, and only big-company growth.

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

IWY The fund seeks to track an index of large-capitalization U.S. equities selected for growth characteristics, including growth forecasts and sales growth. It provides targeted exposure to U.S. large-cap growth stocks.

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

IWY The mandate is literal. An index of large-cap US names selected on growth forecasts and sales growth, and a portfolio that stays tightly matched to it.ishares.com
About 100 holdings, so you get concentrated growth exposure rather than a diluted slice of the whole market wearing a growth label.
Live since 2009 and a multi-billion-dollar fund under the iShares roof, with the operational track record that implies.

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

IWY At 0.20% a year it costs more than the cheapest large-cap growth trackers: VUG charges 0.03% and SCHG 0.04%.
A roughly 100-stock big-cap growth roster concentrates the outcome in a handful of household names. It rides with them in both directions.
Distributions arrive quarterly, but a growth screen leans toward companies that reinvest rather than pay out. Income is a byproduct here.

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 IWY profile⁠

Full SPYG profile⁠

IWY vs SPYG Holdings

How IWY and SPYG differ

Overlap by weight

74.2%

Shared holdings make up 92.1% of IWY and 83.5% of SPYG.

Level by level

Holdings67 in both74.2%
Sector11 Sectors94.4%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in IWY and SPYG, widest gap first
Sector	More in IWYMore in SPYG	IWY	SPYG
Technology	IWY +4.1 points	57.0%	52.9%
Financials	SPYG +3.5 points	5.7%	9.2%
Industrials	IWY +1.1 points	6.7%	5.6%
Health Care	SPYG +1.1 points	5.8%	6.8%
Real Estate	SPYG +0.4 points	0.2%	0.6%
Utilities	SPYG +0.3 points	0.0%	0.3%
Materials	SPYG +0.2 points	0.1%	0.3%
Consumer Staples	IWY +0.2 points	1.4%	1.2%
Communication	IWY +0.1 points	14.9%	14.8%
Energy	IWY +0.1 points	0.1%	0.0%
Consumer Discretionary	Same weight	8.3%	8.3%

Country, concentration and asset class

Country by domicile

Country weights in IWY and SPYG, widest gap first
Country	More in IWYMore in SPYG	IWY	SPYG
United States	Same weight	99.8%	99.8%
Brazil	IWY +0.2 points	0.2%	0.0%
China	SPYG +0.1 points	0.0%	0.1%
Mexico	SPYG +0.1 points	0.0%	0.1%
Canada	IWY +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

IWY60.5%
SPYG58.9%

Securities held

IWY101
SPYG152

Asset class

IWY: Equity
SPYG: Equity

Holdings

Only in IWY34
In both67
Only in SPYG85

Only in IWY

34 securities, 7.8% of IWY by weight

Texas Instrument1.05%
Home Depot0.93%
Costco Wholesale Corp0.75%
Lockheed Martin0.49%
Western Digital Corp0.48%
Mckesson Corp0.42%
Spotify Technology0.36%
Cintas0.29%
Space Exploration Technologies Cor0.29%
Blackstone0.27%
Adobe Inc0.26%
Starbucks Corp0.25%
American Tower Reit0.22%
Walmart0.18%
Automatic Data Processing Inc0.17%
Nu Holdings Class A0.15%
Colgate-Palmolive0.12%
Citigroup0.12%
Motorola Solutions Inc0.12%
Waste Management Inc0.09%
Illinois Tool Inc0.09%
Eaton PLC0.08%
Pepsico0.08%
Bank of America0.08%
Sherwin Williams0.08%
Brookfield Asset Management Voting0.06%
Dell Technologies Inc Class C0.06%
Analog Devices0.06%
Valero Energy Corp0.05%
3M0.05%
Union Pacific0.05%
Charles Schwab0.04%
Public Storage Reit0.02%
Southern Copper Corp0.01%

Only in SPYG

85 securities, 16.5% of SPYG by weight

Berkshire Hathaway Inc Class B2.82%
JPMorgan Chase & Co1.73%
Johnson & Johnson1.09%
Rtx Corp0.75%
Cisco Systems Inc0.63%
Philip Morris International0.51%
Goldman Sachs Group Inc0.49%
Welltower Inc0.47%
Morgan Stanley0.38%
Intl Business Machines Corp0.35%
Newmont Corp0.33%
Gilead Sciences Inc0.31%
Seagate Technology Holdings0.28%
Datadog Inc Class A0.25%
Lumentum Holdings Inc0.23%
McDonald’s Corp0.22%
Royal Caribbean Cruises Ltd0.22%
Progressive Corp0.21%
Robinhood Markets Inc A0.20%
O Reilly Automotive Inc0.20%
Hca Healthcare Inc0.20%
Parker Hannifin Corp0.18%
S+p Global Inc0.17%
Cme Group Inc0.17%
General Dynamics Corp0.14%
Comfort Systems Usa Inc0.13%
Coherent Corp0.13%
Stryker Corp0.13%
Everpure Inc A0.13%
Idexx Laboratories Inc0.13%
Te Connectivity PLC0.12%
Vistra Corp0.12%
United Rentals Inc0.12%
Boston Scientific Corp0.12%
Twilio Inc A0.10%
Carnival Corp Ltd0.10%
Ebay Inc0.10%
Flex Ltd0.10%
Expedia Group Inc0.09%
Emcor Group Inc0.08%
Apollo Global Management Inc0.08%
Autodesk Inc0.08%
Veeva Systems Inc Class A0.08%
Simon Property Group Inc0.08%
Ulta Beauty Inc0.08%
Rockwell Automation Inc0.08%
Teradyne Inc0.07%
Casey’s General Stores Inc0.07%
Edwards Lifesciences Corp0.07%
Verisign Inc0.07%

Weight gaps

All 67 Holdings in both funds, largest gap first.

Holding weights in IWY and SPYG, widest gap first
Holding	More in IWYMore in SPYG	IWY	SPYG
MicrosoftMSFT	SPYG +4.52 points	6.47%	10.99%
Amazon.com IncAMZN	SPYG +2.80 points	0.74%	3.54%
Tesla IncTSLA	IWY +2.31 points	4.28%	1.97%
Visa Class AV	IWY +1.61 points	2.68%	1.07%
AppleAAPL	IWY +1.60 points	8.71%	7.11%
Eli LillyLLY	IWY +1.16 points	4.23%	3.07%
Mastercard Class AMA	IWY +1.01 points	1.97%	0.96%
Ge AerospaceGE	IWY +0.72 points	1.19%	0.47%
Micron TechnologyMU	IWY +0.65 points	3.60%	2.95%
Palo Alto NetworksPANW	IWY +0.64 points	1.13%	0.48%
Broadcom IncAVGO	IWY +0.58 points	5.16%	4.58%
OracleORCL	IWY +0.51 points	0.86%	0.35%
AbbVieABBV	SPYG +0.50 points	0.16%	0.66%
Alphabet Class AGOOGL	IWY +0.49 points	5.14%	4.65%
Advanced Micro DevicesAMD	IWY +0.45 points	3.03%	2.58%
Alphabet Class CGOOG	IWY +0.42 points	4.17%	3.75%
Marvell TechnologyMRVL	IWY +0.40 points	0.65%	0.25%
Uber TechnologiesUBER	SPYG +0.32 points	0.05%	0.37%
NVIDIANVDA	IWY +0.31 points	14.75%	14.44%
Palantir Technologies Class APLTR	IWY +0.30 points	1.56%	1.26%
NetflixNFLX	IWY +0.26 points	0.98%	0.72%
Coca-ColaKO	SPYG +0.26 points	0.16%	0.42%
Lam ResearchLRCX	IWY +0.25 points	1.14%	0.89%
Caterpillar IncCAT	IWY +0.25 points	1.08%	0.83%
Applied Material IncAMAT	IWY +0.25 points	1.18%	0.93%
Ge VernovaGEV	IWY +0.22 points	0.88%	0.66%
ServicenowNOW	IWY +0.22 points	0.41%	0.19%
Crowdstrike Holdings Class ACRWD	IWY +0.22 points	0.96%	0.74%
Amgen IncAMGN	IWY +0.21 points	0.68%	0.47%
Trane Technologies PLCTT	IWY +0.21 points	0.35%	0.14%
Cadence Design SystemsCDNS	IWY +0.18 points	0.35%	0.17%
KlaKLAC	IWY +0.18 points	0.79%	0.61%
Amphenol Corp Class AAPH	IWY +0.17 points	0.74%	0.57%
CorningGLW	IWY +0.17 points	0.37%	0.20%
Airbnb Class AABNB	IWY +0.17 points	0.26%	0.09%
FortinetFTNT	IWY +0.17 points	0.32%	0.15%
BoeingBA	IWY +0.15 points	0.32%	0.17%
Johnson Controls International PLCJCI	SPYG +0.16 points	0.02%	0.18%
Bank of New York Mellon CorpBNY	SPYG +0.16 points	0.02%	0.18%
Constellation Energy CorpCEG	SPYG +0.14 points	0.02%	0.16%
Ross Stores IncROST	IWY +0.14 points	0.24%	0.10%
Intuitive SurgicalISRG	IWY +0.14 points	0.58%	0.44%
American ExpressAXP	SPYG +0.13 points	0.19%	0.32%
Arista NetworksANET	IWY +0.13 points	0.67%	0.54%
Booking HoldingsBKNG	IWY +0.12 points	0.44%	0.32%
Carvana Class ACVNA	IWY +0.11 points	0.18%	0.07%
Meta Platforms Class AMETA	IWY +0.10 points	3.95%	3.85%
SandiskSNDK	IWY +0.10 points	0.64%	0.54%
Quanta Services IncPWR	IWY +0.08 points	0.35%	0.27%
Hilton Worldwide HoldingsHLT	IWY +0.08 points	0.30%	0.22%
Vertiv Holdings Class AVRT	IWY +0.08 points	0.34%	0.26%
Howmet AerospaceHWM	IWY +0.07 points	0.30%	0.23%
Monster BeverageMNST	SPYG +0.07 points	0.12%	0.19%
Doordash Class ADASH	IWY +0.07 points	0.26%	0.19%
AutozoneAZO	SPYG +0.06 points	0.03%	0.09%
Transdigm GroupTDG	SPYG +0.06 points	0.12%	0.18%
Monolithic Power Systems IncMPWR	IWY +0.06 points	0.22%	0.16%
Interactive Brokers Group Inc ClasIBKR	SPYG +0.05 points	0.05%	0.10%
Kkr and Co IncKKR	SPYG +0.05 points	0.05%	0.10%
CienaCIEN	IWY +0.03 points	0.17%	0.14%
Moodys CorpMCO	IWY +0.03 points	0.13%	0.10%
Bloom Energy Class ABE	IWY +0.04 points	0.22%	0.18%
IntuitINTU	SPYG +0.03 points	0.11%	0.14%
TjxTJX	IWY +0.03 points	0.27%	0.24%
Applovin Class AAPP	IWY +0.02 points	0.21%	0.19%
Cummins IncCMI	SPYG +0.01 points	0.12%	0.13%
Marriott International Class AMAR	IWY +0.01 points	0.25%	0.24%

All 101 IWY holdings⁠All 152 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.

IWY vs SPYG Cost

Overpaying IWY vs SPYG

$3,306

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

IWY 0.20%
$4,155
SPYG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

IWY 0.20%
SPYG 0.04%
Overpaying

Year by year

Year	IWY	SPYG	Overpaying
10	$365	$73	$292
20	$1,421	$288	$1,133
30	$4,155	$849	$3,306

Expense ratio

0.20%IWY
0.04%SPYG, cheaper

SPYG0.04%IWY0.20%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SPYG 2nd cheapest of 35 funds

IWY 21st cheapest of 35 funds

IWY vs SPYG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IWY 0.35%; SPYG 0.50%, better
Payout (12M): IWY $0.97; SPYG $0.59
Last payment: IWY $0.23; SPYG $0.15
Ex-dividend: IWY Sep 15, 2026; SPYG Sep 21, 2026
Paid on: IWY Sep 18, 2026; SPYG Sep 23, 2026
Frequency: IWY Quarterly; SPYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IWYQuarterly · 40 paymentsAll IWY payments⁠

SPYGQuarterly · 39 paymentsAll SPYG payments⁠

IWY vs SPYG Risk

Fall from peak · 5 years

IWY
SPYG

Risk facts

VolatilityStd dev, 3 years: IWY 16.9%SPYG 16.5%, better
Return per unit of riskSharpe ratio, 3 years: IWY 1.03SPYG 1.28, better
Worst fallMax drawdown, 5 years: IWY −32.7%SPYG −32.7%
Market sensitivityBeta, 5 years: IWY 1.17SPYG 1.17; Market = 1

IWY 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

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IWY vs SPYG

In short

Stated mandate

Why people hold it

Worth knowing

How IWY and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWY

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 IWY and SPYG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in IWY

Only in SPYG

Weight gaps