IYW vs VGT: Grades, Fees and Holdings Compared

iShares U.S. Technology ETF

IYWBNYSE Arca

Vanguard Information Technology ETF

VGTANYSE Arca

Overlap

82.4%by weight

Expense ratio

VGT −0.28pt a year

IYW0.37%VGT0.09%

Avg volume · 30D

VGT 6.9×the volume

IYW609KVGT4.23M

10Y return · a year

IYW +0.2pt

IYW+24.1%VGT+23.9%

IYW vs VGT Performance

Oct 29, 2021 – Oct 30, 2026

+123.2%IYW+122.6%VGT

Expense ratio: IYW 0.37%; VGT 0.09%, better
Fund size: IYW $23.8B; VGT $178B
1Y total return: IYW +16.8%; VGT +18.5%, better
Yield (12M): IYW 0.10%; VGT 0.40%, better
Holdings: IYW 150; VGT 321
Avg volume (30D): IYW 609K sh; VGT 4.23M sh, better
NAV per share: IYW $242.61; VGT $116.95
52W range

ETF.net Grade

Pillar letters and Scores for IYW, VGT, with each pillar’s weight
Pillar	IYW	VGT
Cost30% weight	B65	A92Higher
Mission25% weight	A83	A84Higher
Risk15% weight	B67Higher	B60
Tradability15% weight	A89Higher	B57
Holdings10% weight	F14	C41Higher
Durability5% weight	A83	A93Higher

Rank among Technology (Broad) funds

How we build Categories ›

Same Category. IYW and VGT are both graded against the same 23 Technology (Broad) funds, so their Grades compare head to head.

Technology (Broad)⁠

Category · 23 funds

See all 23 ›

VGT ranks 3rd and IYW 5th of 23 funds in the Technology (Broad) Category.

Rank 1AXLKState Street Technology Select Sector SPDR ETFScore 82
Rank 2AFTECFidelity MSCI Information Technology Index ETFScore 78
Rank 3AVGTVanguard Information Technology ETFScore 71
Rank 4BRSPTInvesco S&P 500 Equal Weight Technology ETFScore 68
Rank 5BIGMiShares Expanded Tech Sector ETFScore 64
Rank 5BIYWiShares U.S. Technology ETFScore 64
Rank 5BXNTKState Street SPDR NYSE Technology ETFScore 64

Our read on each fund

ETF.net Research

IYWBiShares U.S. Technology ETF

VGTAVanguard Information Technology ETF

In short

IYW Most tech ETFs follow GICS and leave the big ad platforms out of the sector. IYW tracks a Russell index built on ICB rules, where there is no communication services bucket, so internet-ad giants count as tech. Listed in 2000, 0.37%, below the category median.

VGT Vanguard's technology sleeve, indexed since 2004: roughly 300 US tech stocks running from megacap giants down to small caps, for 0.09% a year. Broad coverage of the sector rather than just its household names.

Stated mandate

IYW Under ordinary conditions, the Fund commits a minimum of 80% of its assets to equity securities issued by U.S. technology or technology-enabled companies.

VGT The fund seeks to track an index measuring the investment return of information technology stocks. It uses an indexing approach for large-, mid-, and small-capitalization U.S. technology companies and normally invests at least 80% of assets in target-index stocks.

Why people hold it

IYW Russell's sector runs on ICB rules with no communication services bucket, so ad-driven platforms like Alphabet and Meta count as tech here, unlike in GICS-built XLK, VGT or FTEC.ishares.com lseg.com
The benchmark is capped by design: 22.5% ceiling on any single issuer, 45% combined for all names above 4.5%, trimmed at each quarterly rebalance.ishares.com
Listed in 2000 and now a multi-billion-dollar fund that trades actively, so getting in and out is rarely the expensive part.

VGT Casts a wide net: about 300 US technology stocks across large, mid and small caps, not just the megacap names everyone already knows.vanguard.com
Charges 0.09% a year, roughly a quarter of what the typical technology sector ETF asks.
One of the largest and most actively traded sector funds around, and it has followed its index closely.
Running since 2004 and among the strongest implementations in its technology peer group. Pays quarterly.

Worth knowing

IYW At 0.37% it sits below the category median, but the index giants undercut it hard: XLK at 0.08%, FTEC at 0.084%, VGT at 0.09%.
Top-heavy by construction: about 150 holdings, with caps reset only quarterly, so a few mega caps can drift above their reset weight between rebalances.
Distributions come quarterly, but income is not the job here; the mandate is a US technology sector view.

VGT Weighted by market value, so the biggest platform companies drive most of the return. The small caps are along for the ride.
One sector, one country: US technology only, which means bigger swings than a total market fund.
If the last basis point matters, XLK and FTEC list at 0.08%.

Full IYW profile⁠

Full VGT profile⁠

IYW vs VGT Holdings

How IYW and VGT differ

Overlap by weight

82.4%

Shared holdings make up 91.4% of IYW and 88.9% of VGT.

Level by level

Sector13 Sectors0.1%
Holdings122 in both82.4%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in IYW and VGT, widest gap first
Sector	More in IYWMore in VGT	IYW	VGT
Technology	VGT +99.3 points	0.0%	99.3%
Semiconductors & Semiconductor Equipment	IYW +38.5 points	38.5%	0.0%
Software & Services	IYW +30.3 points	30.3%	0.0%
Tech Hardware & Equip	IYW +22.5 points	22.5%	0.0%
Media & Entertainment	IYW +7.8 points	7.8%	0.0%
Commercial & Professional Services	IYW +0.4 points	0.4%	0.0%
Consumer Services	IYW +0.3 points	0.3%	0.0%
Industrials	VGT +0.3 points	0.0%	0.3%
Financials	VGT +0.2 points	0.1%	0.3%
Consumer Discretionary	VGT +0.1 points	0.0%	0.1%
Consumer Staples Distribution & Retail	IYW +0.1 points	0.1%	0.0%
Materials	Same weight	0.0%	0.0%
Health Care	Same weight	0.0%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in IYW and VGT, widest gap first
Country	More in IYWMore in VGT	IYW	VGT
United States	VGT +0.2 points	99.8%	100.0%
Mexico	IYW +0.2 points	0.2%	0.0%
Australia	IYW +0.1 points	0.1%	0.0%

Concentration

Weight in the 10 largest Holdings

IYW65.7%
VGT63.6%

Securities held

IYW148
VGT319

Asset class

IYW: Equity
VGT: Equity

Holdings

Only in IYW26
In both122
Only in VGT197

Only in IYW

26 securities, 8.6% of IYW by weight

Meta Platforms Class A3.17%
Alphabet Class A2.19%
Alphabet Class C1.78%
Doordash Class A0.35%
Applovin Class A0.29%
Leidos Holdings0.09%
Ss and C Technologies Holdings0.09%
Toast Class A0.08%
Caci International Inc Class A0.08%
Reddit Class A0.07%
Paycom Software0.06%
Match Group Inc0.05%
Pinterest Class A0.05%
Maplebear0.05%
Amdocs0.04%
Science Applications International0.03%
Mobility Global Inc0.03%
Globalfoundries0.03%
Kbr Inc0.03%
Figure Technology Solutions Class0.02%
Parsons Corp0.01%
People0.01%
Ingram Micro Holding<0.01%
Sailpoint<0.01%
Niq Global Intelligence PLC<0.01%
Quantinuum Inc Class A<0.01%

Only in VGT

197 securities, 11.1% of VGT by weight

Cisco Systems Inc1.60%
Arista Networks Inc0.85%
Seagate Technology Holdings PLC0.79%
Accenture PLC0.45%
Motorola Solutions Inc0.31%
Lumentum Holdings Inc0.30%
Keysight Technologies Inc0.27%
TE Connectivity PLC0.27%
NXP Semiconductors NV0.26%
Ciena Corp0.21%
SLBBH11420.18%
Teledyne Technologies Inc0.14%
Zebra Technologies Corp0.11%
MKS Inc0.10%
First Solar Inc0.10%
Trimble Inc0.09%
Qorvo Inc0.08%
JFrog Ltd0.08%
Littelfuse Inc0.08%
Cognex Corp0.08%
Viavi Solutions Inc0.07%
MaxLinear Inc0.07%
Fair Isaac Corp0.07%
InterDigital Inc0.07%
Ralliant Corp0.07%
Plexus Corp0.07%
Silicon Laboratories Inc0.07%
Viasat Inc0.07%
Commvault Systems Inc0.07%
Zeta Global Holdings Corp0.07%
Hut 8 Corp0.07%
Qualys Inc0.06%
Riot Platforms Inc0.06%
Varonis Systems Inc0.06%
Impinj Inc0.06%
Kulicke & Soffa Industries Inc0.06%
Aurora Innovation Inc0.06%
Insight Enterprises Inc0.06%
Novanta Inc0.06%
ACM Research Inc0.06%
Box Inc0.06%
Vishay Intertechnology Inc0.06%
Diodes Inc0.06%
Tenable Holdings Inc0.06%
Axcelis Technologies Inc0.05%
ACI Worldwide Inc0.05%
Vontier Corp0.05%
Applied Optoelectronics Inc0.05%
Ultra Clean Holdings Inc0.05%
D-Wave Quantum Inc0.05%

Weight gaps

The 100 widest of 122 Holdings in both funds.

Holding weights in IYW and VGT, widest gap first
Holding	More in IYWMore in VGT	IYW	VGT
MicrosoftMSFT	IYW +2.40 points	13.56%	11.16%
Micron TechnologyMU	VGT +1.72 points	2.74%	4.46%
AppleAAPL	IYW +1.49 points	17.41%	15.92%
Broadcom IncAVGO	VGT +0.95 points	3.16%	4.11%
NVIDIANVDA	VGT +0.91 points	16.68%	17.59%
Advanced Micro DevicesAMD	VGT +0.79 points	2.89%	3.68%
Palantir Technologies Class APLTR	IYW +0.58 points	2.13%	1.55%
International Business Machines CoIBM	IYW +0.50 points	1.27%	0.77%
Texas InstrumentTXN	IYW +0.45 points	1.43%	0.98%
Intel CorporationINTC	VGT +0.42 points	1.57%	1.99%
OracleORCL	IYW +0.31 points	1.17%	0.86%
Analog DevicesADI	IYW +0.31 points	1.06%	0.75%
Palo Alto NetworksPANW	IYW +0.30 points	1.54%	1.24%
Crowdstrike Holdings Class ACRWD	IYW +0.29 points	1.31%	1.02%
SalesforceCRM	IYW +0.23 points	0.95%	0.72%
Amphenol Corp Class AAPH	IYW +0.22 points	1.02%	0.80%
IntuitINTU	IYW +0.18 points	0.48%	0.30%
QualcommQCOM	IYW +0.15 points	0.91%	0.76%
Adobe IncADBE	IYW +0.13 points	0.52%	0.39%
SynopsysSNPS	IYW +0.13 points	0.46%	0.33%
SandiskSNDK	VGT +0.10 points	0.87%	0.97%
KlaKLAC	IYW +0.10 points	1.08%	0.98%
Cadence Design SystemsCDNS	IYW +0.09 points	0.47%	0.38%
Coreweave Class ACRWV	IYW +0.09 points	0.09%	<0.01%
Applied Material IncAMAT	IYW +0.08 points	1.61%	1.53%
SnowflakeSNOW	IYW +0.09 points	0.54%	0.45%
AutodeskADSK	IYW +0.07 points	0.27%	0.20%
Roper TechnologiesROP	IYW +0.08 points	0.24%	0.16%
Strategy Inc Class AMSTR	IYW +0.08 points	0.24%	0.16%
Bitmine Immersion TechnologiesBMNR	IYW +0.06 points	0.06%	<0.01%
Formfactor IncFORM	VGT +0.05 points	0.04%	0.09%
SemtechSMTC	VGT +0.06 points	0.06%	0.12%
Twilio Class ATWLO	VGT +0.05 points	0.16%	0.21%
TeradyneTER	VGT +0.05 points	0.22%	0.27%
Digitalocean HoldingsDOCN	VGT +0.04 points	0.05%	0.09%
Datadog Inc Class ADDOG	IYW +0.04 points	0.40%	0.36%
Onto InnovationONTO	VGT +0.05 points	0.05%	0.10%
IrenIREN	IYW +0.04 points	0.04%	<0.01%
Western Digital CorpWDC	IYW +0.05 points	0.66%	0.61%
SitimeSITM	VGT +0.04 points	0.05%	0.09%
SanminaSANM	VGT +0.04 points	0.04%	0.08%
F5FFIV	VGT +0.04 points	0.10%	0.14%
AvnetAVT	VGT +0.03 points	0.04%	0.07%
Lattice SemiconductorLSCC	VGT +0.04 points	0.07%	0.11%
Ttm Technologies IncTTMI	VGT +0.04 points	0.04%	0.08%
Super Micro Computer IncSMCI	VGT +0.03 points	0.10%	0.13%
Allegro Microsystems IncALGM	VGT +0.03 points	0.02%	0.05%
Advanced Energy IndustriesAEIS	VGT +0.04 points	0.04%	0.08%
RambusRMBS	VGT +0.03 points	0.05%	0.08%
Amkor TechnologyAMKR	VGT +0.03 points	0.03%	0.06%
Ringcentral Class ARNG	VGT +0.03 points	0.03%	0.06%
Dolby Laboratories Class ADLB	VGT +0.03 points	0.02%	0.05%
Arrow ElectronicsARW	VGT +0.03 points	0.06%	0.09%
Sentinelone Inc Class AS	VGT +0.03 points	0.04%	0.07%
Dropbox Inc Class ADBX	VGT +0.03 points	0.03%	0.06%
Monolithic Power Systems IncMPWR	IYW +0.03 points	0.30%	0.27%
TerawulfWULF	VGT +0.03 points	0.02%	0.05%
Applied DigitalAPLD	VGT +0.03 points	0.02%	0.05%
ServicenowNOW	IYW +0.02 points	0.56%	0.54%
Appfolio Class AAPPF	VGT +0.02 points	0.03%	0.05%
Cirrus LogicCRUS	VGT +0.03 points	0.03%	0.06%
FortinetFTNT	VGT +0.03 points	0.43%	0.46%
PegasystemsPEGA	VGT +0.02 points	0.02%	0.04%
Ccc Intelligent Solutions HoldingsCCC	VGT +0.03 points	0.02%	0.05%
Universal Display CorpOLED	VGT +0.02 points	0.02%	0.04%
Gitlab Class AGTLB	VGT +0.03 points	0.04%	0.07%
Workday Class AWDAY	IYW +0.02 points	0.20%	0.18%
Figma Class AFIG	IYW +0.02 points	0.02%	<0.01%
ElasticESTC	VGT +0.02 points	0.05%	0.07%
Uipath Inc Class APATH	VGT +0.02 points	0.03%	0.05%
Microchip Technology IncMCHP	IYW +0.02 points	0.21%	0.19%
CorningGLW	IYW +0.02 points	0.51%	0.49%
Credo Technology Group Holding LtdCRDO	VGT +0.02 points	0.13%	0.15%
Macom Technology SolutionsMTSI	VGT +0.03 points	0.08%	0.11%
FabrinetFN	VGT +0.02 points	0.06%	0.08%
Astera LabsALAB	VGT +0.02 points	0.21%	0.23%
Hewlett Packard EnterpriseHPE	IYW +0.02 points	0.38%	0.36%
Flex LtdFLEX	VGT +0.02 points	0.17%	0.19%
Akamai Technologies IncAKAM	VGT +0.02 points	0.07%	0.09%
Dell Technologies Inc Class CDELL	IYW +0.02 points	0.67%	0.65%
ZscalerZS	IYW +0.02 points	0.13%	0.11%
Epam SystemsEPAM	VGT +0.02 points	0.04%	0.06%
Cloudflare Class ANET	IYW +0.02 points	0.47%	0.45%
Zoom Communications Class AZM	IYW +0.02 points	0.13%	0.11%
Ipg Photonics CorpIPGP	VGT +0.02 points	<0.01%	0.03%
Bentley Systems Class BBSY	VGT +0.01 points	0.04%	0.05%
Kyndryl HoldingsKD	VGT +0.01 points	0.02%	0.03%
Marvell TechnologyMRVL	IYW +0.01 points	0.89%	0.88%
Nutanix Class ANTNX	VGT +0.02 points	0.09%	0.11%
Dynatrace IncDT	VGT +0.01 points	0.09%	0.10%
Cognizant Technology Solutions ClaCTSH	IYW +0.01 points	0.15%	0.14%
Procore Technologies IncPCOR	VGT +0.01 points	0.04%	0.05%
Unity SoftwareU	VGT +0.02 points	0.07%	0.09%
PtcPTC	IYW +0.01 points	0.11%	0.10%
Td SynnexSNX	VGT +0.02 points	0.09%	0.11%
IonqIONQ	VGT +0.01 points	0.06%	0.07%
Atlassian Corp Class ATEAM	IYW +0.01 points	0.16%	0.15%
Samsara Class AIOT	VGT +0.01 points	0.08%	0.09%
Rubrik Class ARBRK	VGT +0.01 points	0.10%	0.11%
Mongodb Class AMDB	IYW +0.01 points	0.14%	0.13%

All 148 IYW holdings⁠All 310 VGT 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.

IYW vs VGT Cost

Overpaying IYW vs VGT

$5,615

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

IYW 0.37%
$7,513
VGT 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

IYW 0.37%
VGT 0.09%
Overpaying

Year by year

Year	IYW	VGT	Overpaying
10	$670	$165	$505
20	$2,590	$646	$1,944
30	$7,513	$1,898	$5,615

Expense ratio

0.37%IYW
0.09%VGT, cheaper

VGT0.09%IYW0.37%

0.08%1.00%

Middle half of Technology (Broad) funds
Median 0.45%

VGT 3rd cheapest of 23 funds

IYW 7th cheapest of 23 funds

IYW vs VGT Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IYW 0.10%; VGT 0.40%, better
Payout (12M): IYW $0.25; VGT $0.47
Last payment: IYW $0.05; VGT $0.15
Ex-dividend: IYW Sep 15, 2026; VGT Sep 23, 2026
Paid on: IYW Sep 18, 2026; VGT Sep 25, 2026
Frequency: IYW Quarterly; VGT Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IYWQuarterly · 39 paymentsAll IYW payments⁠

VGTQuarterly · 39 paymentsAll VGT payments⁠

IYW vs VGT Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IYW 22.8%VGT 22.2%, better
Return per unit of riskSharpe ratio, 3 years: IYW 1.18VGT 1.19, better
Worst fallMax drawdown, 5 years: IYW −39.4%VGT −35.1%, better
Market sensitivityBeta, 5 years: IYW 1.35VGT 1.35; Market = 1

IYW and VGT in the news

All news⁠

Category Review
Equal-weight technology beat the biggest tech funds this year
Updated Oct 26, 2026VGT
Head-to-Head
QQQ vs. VGT: choose VGT for technology, QQQ for the Nasdaq-100
Oct 23, 2026VGT
New ETFs
XFUNDS Technology Income ETF is 99.1% the Vanguard Information Technology ETF
Oct 12, 2026VGT
Head-to-Head
Vanguard Information Technology ETF holds NVIDIA, Apple and Microsoft at twice the weight of Invesco QQQ Trust, Series 1
Oct 10, 2026VGT
Sector Pulse
Materials led the sectors, pulled by Vylor and two steelmakers
Oct 5, 2026VGT
Price vs Value
Vanguard showed a 1.94% discount on an energy fund that closed two cents above its value
Oct 4, 2026VGT

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IYW vs VGT

In short

Stated mandate

Why people hold it