ETF Versus

IWF vs SPY

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

Last updated: 2026-04-10

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 0.38%. Launched in 2000, the fund has a 26-year track record.

AUM: $116.5B ER: 0.18% Yield: 0.38% Since: May 22, 2000
SPY SPDR

State Street SPDR S&P 500 ETF Trust (SPY) is an exchange-traded fund issued by SPDR 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 1.09%. Launched in 1993, the fund has a 33-year track record.

AUM: $678.3B ER: 0.09% Yield: 1.09% 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. Both funds have delivered similar 1-year returns (29.9% vs 29.6%), tracking closely. 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 SPDR
Category US Large Cap Growth US Large Cap Blend

Performance Chart

Indexed to 100 at start (5-year comparison)

80 102 124 146 168 190 2021-04 2022-07 2023-10 2025-01 2026-04
IWF +73.8%
SPY +65.2%

Performance Comparison

Period IWF SPY Difference
1 Month -1.05% +0.54% -1.59%
3 Months -6.42% -2.19% -4.23%
6 Months -4.69% +2.55% -7.24%
YTD -5.33% -0.47% -4.86%
1 Year +29.88% +29.62% +0.26%
3 Years +84.44% +65.95% +18.49%
5 Years +73.81% +65.18% +8.63%

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 0.42 0.41

Dividend Comparison

Metric IWF SPY
Annual Dividend (per share) $1.69 $7.38
Dividend Yield 0.38% 1.09%
Distribution Frequency Quarterly Quarterly

Top Holdings

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

IWF Top Holdings

NameWeight
NVIDIA CorporationNVDA12.99%
Apple Inc.AAPL11.43%
Microsoft CorporationMSFT8.59%
Broadcom Inc.AVGO5.22%
Amazon.com, Inc.AMZN4.76%
Meta Platforms, Inc.META3.56%
Tesla, Inc.TSLA3.15%
Alphabet Inc.GOOG3.03%
Eli Lilly and CompanyLLY2.65%

SPY Top Holdings

NameWeight
NVIDIA CorporationNVDA7.61%
Apple Inc.AAPL6.54%
Microsoft CorporationMSFT4.78%
Amazon.com, Inc.AMZN3.72%
Broadcom Inc.AVGO2.86%
Alphabet Inc.GOOG2.53%
Meta Platforms, Inc.META2.31%
Tesla, Inc.TSLA1.66%
Berkshire Hathaway Inc.BRK.B1.51%

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.

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