ETF Versus

IWF vs SPY

iShares Russell 1000 Growth ETF vs State Street SPDR S&P 500 ETF Trust

Last updated: 2026-04-02

IWF iShares

iShares Russell 1000 Growth ETF (IWF) is an exchange-traded fund issued by iShares that provides exposure to large-cap U.S. growth stocks with above-average earnings potential. It charges a moderate expense ratio of 0.18%. The fund offers a modest dividend yield of 0.39%. Launched in 2000, the fund has a 26-year track record.

AUM: $108.0B ER: 0.18% Yield: 0.39% Since: May 22, 2000
SPY State Street

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by State Street that provides exposure to large-cap U.S. equities across growth and value styles. It charges a low expense ratio of 0.09%. The fund offers a moderate dividend yield of 1.13%. Launched in 1993, the fund has a 33-year track record.

AUM: $636.7B ER: 0.09% Yield: 1.13% Since: Jan 22, 1993

Quick Verdict

SPY has a slightly lower expense ratio (0.09% vs 0.18%), saving about $178 per $10,000 over 10 years. IWF has edged ahead over the past year (18.2% vs 16.8%). Income investors may prefer SPY for its higher yield (1.1% vs 0.4%).

Key Metrics

Metric IWF SPY
Expense Ratio 0.18% 0.09%
Dividend Yield 0.4% 1.1%
Fund Family iShares State Street
Category US Large Cap Growth US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

80 103 126 149 172 195 2021-04 2022-06 2023-09 2024-12 2026-04
IWF +71.3%
SPY +61.2%

Performance Comparison

Period IWF SPY Difference
1 Month -4.73% -4.54% -0.19%
3 Months -8.83% -4.09% -4.74%
6 Months -8.48% -2.09% -6.39%
YTD -8.83% -4.09% -4.74%
1 Year +18.20% +16.80% +1.40%
3 Years +75.80% +59.45% +16.35%
5 Years +71.26% +61.25% +10.01%

Fee Impact Over Time

Estimated fee cost difference assuming 8% annual returns

Investment Period IWF Fees SPY Fees You Save
$10.000 10 years $357 $179 $178
$10.000 20 years $1.529 $771 $759
$10.000 30 years $4.912 $2.486 $2.426
$50.000 10 years $1.786 $896 $889
$50.000 30 years $24.558 $12.428 $12.131
$100.000 30 years $49.116 $24.855 $24.261

Risk Metrics

Based on 5 years of daily returns

Metric IWF SPY
Annualized Volatility 21.4% 17.1%
Max Drawdown -33.1% -25.4%
Sharpe Ratio 0.40 0.38

Dividend Comparison

Metric IWF SPY
Annual Dividend (per share) $1.69 $7.38
Dividend Yield 0.39% 1.13%
Distribution Frequency Quarterly Quarterly

Top Holdings

8 of top 9 holdings overlap (89% overlap in top holdings)

IWF Top Holdings

NameWeight
NVIDIA CorporationNVDA12.82%
Apple Inc.AAPL11.79%
Microsoft CorporationMSFT8.78%
Broadcom Inc.AVGO4.81%
Amazon.com, Inc.AMZN4.61%
Tesla, Inc.TSLA3.57%
Meta Platforms, Inc.META3.28%
Alphabet Inc.GOOG2.83%
Eli Lilly and CompanyLLY2.62%

SPY Top Holdings

NameWeight
NVIDIA CorporationNVDA7.58%
Apple Inc.AAPL6.66%
Microsoft CorporationMSFT4.91%
Amazon.com, Inc.AMZN3.64%
Broadcom Inc.AVGO2.62%
Alphabet Inc.GOOG2.40%
Meta Platforms, Inc.META2.24%
Tesla, Inc.TSLA1.87%
Berkshire Hathaway Inc.BRK.B1.57%

Which One Should You Choose?

Choose SPY if...

you want the lowest fees and plan to buy and hold long-term. Over decades, the expense ratio difference compounds significantly.

Choose SPY if...

you prioritize dividend income and want higher regular distributions from your portfolio.

Related Comparisons

AGG vs IWF AGG vs SPY ARKK vs SPY BND vs IWF BND vs SPY BNDX vs IWF BNDX vs SPY COWZ vs SPY