Quick Verdict
- Our Rating: ★★★★☆ (4/5)
- Best For: Long-term investors who want diversified large- and mid-cap U.S. growth exposure through a highly liquid, established fund
- Not Ideal For: Cost-minimizers, income-focused investors, and anyone who wants broad sector diversification
- Expense Ratio: 0.18%
- Our Take: IWF has a 26-year track record, deep liquidity, and strong long-term growth-stock returns. It also costs several times more than some comparable Russell 1000 Growth funds and is heavily concentrated in technology.
What Is the iShares Russell 1000 Growth ETF (IWF)?
For readers asking what is IWF ETF: it is a passively managed fund issued by BlackRock under the iShares brand. It seeks to track the Russell 1000 Growth Index. That index selects large- and mid-capitalization U.S. companies with higher price-to-book ratios, higher forecasted medium-term growth, and higher historical sales-per-share growth.
The index is a subset of the Russell 1000 Index and represented roughly two-thirds of that parent index’s market value as of March 31, 2026. IWF launched on May 22, 2000, which makes it one of the longest-running growth ETFs available. It is an open-end fund and uses representative sampling, so it holds a selection of index securities rather than every constituent. With about $127.7 billion in assets, it ranks among the largest U.S. growth ETFs.
IWF ETF Key Facts
| Item | Detail |
|---|---|
| Full name | iShares Russell 1000 Growth ETF |
| Ticker | IWF |
| Issuer | BlackRock / iShares |
| Benchmark index | Russell 1000 Growth Index |
| Inception date | May 22, 2000 |
| Expense ratio | 0.18% |
| AUM | ~$127.7 billion |
| Average volume | ~4.0 million shares/day |
| Dividend yield | ~0.34% (Yahoo Finance) |
| Dividend frequency | Quarterly |
| Structure | Open-end fund |
IWF ETF Performance
According to Yahoo Finance, IWF has returned +7.3% over one year, +24.1% annualized over three years, +13.5% annualized over five years, and +17.9% annualized over ten years, as of October 2026. The three- and ten-year figures reflect a long run of strength in large technology and communication stocks. The one-year figure was far more modest after a volatile 2026.
Benchmark data from the fund’s summary prospectus offers a tracking check. Through December 31, 2025, the Russell 1000 Growth Index posted 18.56% over one year, 15.32% annualized over five years, and 18.13% over ten years. IWF delivered 18.34%, 15.13%, and 17.92% over the same periods. That gap of roughly 0.2 percentage points a year is close to the fund’s 0.18% expense ratio, which points to tight tracking.
These numbers describe specific periods only, and past performance is not a guarantee of future results. Growth funds can also decline sharply: IWF lost about 29% in 2022. Readers should weigh the strong stretches alongside that drawdown.
| Period | IWF (Oct 2026) | Index (Oct 2026) | IWF (Dec 31, 2025) | Index (Dec 31, 2025) |
|---|---|---|---|---|
| 1-Year | +7.3% | – | +18.34% | +18.56% |
| 3-Year Ann. | +24.1% | – | – | – |
| 5-Year Ann. | +13.5% | – | +15.13% | +15.32% |
| 10-Year Ann. | +17.9% | – | +17.92% | +18.13% |
IWF Top Holdings and Sector Breakdown
The Russell 1000 Growth Index is market-cap weighted. Each quarter, it caps any single company at 22.5% and limits all companies above 4.5% to 45% in aggregate. The fund holds roughly 372 stocks, but the top ten account for about 57.8% of assets, so the portfolio is more top-heavy than the holdings count suggests. NVIDIA alone represents over 15%.
Technology makes up more than half the fund, and Communication Services adds another 16%. Energy, real estate, and basic materials together total less than 1.2%.
| Holding | Weight |
|---|---|
| NVIDIA (NVDA) | 15.14% |
| Apple (AAPL) | 8.15% |
| Alphabet Class A (GOOGL) | 6.01% |
| Microsoft (MSFT) | 5.95% |
| Alphabet Class C (GOOG) | 4.85% |
| Broadcom (AVGO) | 4.63% |
| Meta Platforms (META) | 3.86% |
| Tesla (TSLA) | 3.14% |
| Eli Lilly (LLY) | 3.04% |
| Micron Technology (MU) | 3.00% |
| Sector | Weight |
|---|---|
| Technology | 56.66% |
| Communication Services | 16.24% |
| Industrials | 7.42% |
| Consumer Cyclical | 7.32% |
| Healthcare | 5.43% |
| Financial Services | 4.47% |
| Consumer Defensive | 1.09% |
| Energy | 0.51% |
| Real Estate | 0.37% |
| Basic Materials | 0.25% |
IWF ETF Pros and Cons
Pros
- Long track record. IWF has operated since 2000 and has been through the dot-com bust, the 2008 crisis, and the 2022 growth selloff.
- Deep liquidity. About 4.0 million shares trade daily on average, and the fund holds roughly $127.7 billion in assets, which supports tight bid-ask spreads.
- Strong long-term results. The fund has returned +17.9% annualized over ten years.
- Mid-cap exposure. The index includes mid-cap growth names, which gives it a broader reach than mega-cap-only growth funds.
- Quarterly distributions. The fund pays dividends four times a year, though the yield is low.
Cons
- Higher cost. At 0.18%, IWF charges several times more than Vanguard’s VUG (0.03%) and VONG (0.06%).
- Heavy technology concentration. Technology is over 56% of the portfolio, and NVIDIA is over 15% on its own.
- Volatility. Growth stocks can fall quickly, as the 2022 decline showed.
- Minimal income. A yield of about 0.34% (Yahoo Finance) offers little for income investors.
Who Should Invest in IWF?
For anyone asking “is IWF a good investment,” the answer depends on goals, time horizon, and risk tolerance.
IWF may be a good fit if you:
- Want a core U.S. growth allocation and have a long time horizon
- Value liquidity and a long operating history
- Accept sharp short-term swings in exchange for growth potential
- Are comfortable with heavy technology exposure
- Trade options or large positions, where a deep, liquid market matters
IWF may not be ideal if you:
- Are focused on minimizing fund costs, since cheaper funds track the same index
- Need meaningful dividend income
- Want broad sector diversification, or are close to needing the money
IWF Alternatives
| ETF | Expense Ratio | AUM | Key Difference |
|---|---|---|---|
| VONG | 0.06% | ~$54 billion | Tracks the same Russell 1000 Growth Index at a lower fee |
| VUG | 0.03% | ~$232 billion | Tracks the CRSP US Large Cap Growth Index; lowest cost |
| QQQ | 0.18% | ~$395 billion | Tracks the Nasdaq-100; fewer holdings and a tighter tech focus |
AUM figures are approximate and drawn from sources dated between mid-2026 and October 2026.
VONG follows the same index as IWF, so its holdings and returns have been very similar. The main difference is the lower fee. VUG tracks a different index with a wider range of growth stocks, and it has the lowest fee and the largest asset base of the three. QQQ costs the same as IWF but holds roughly 100 non-financial Nasdaq-listed companies, which makes it more concentrated.
Related reading: VUG ETF Review, [VONG ETF Review], QQQ ETF Review, Best Growth ETFs
Frequently Asked Questions
Is IWF a good long-term investment?
IWF has delivered strong results over ten years, but the fund can also decline sharply, as it did in 2022. Whether it suits a long-term plan depends on an investor’s risk tolerance and how much technology exposure they already hold.
How often does IWF pay dividends?
IWF pays dividends quarterly. Yahoo Finance lists a yield of about 0.34%, while iShares reports a 12-month trailing yield of 0.86% as of September 30, 2026. The two sources calculate yield differently.
What is the difference between IWF and VONG?
Both track the Russell 1000 Growth Index, so their holdings are nearly identical. VONG charges a lower expense ratio (0.06% versus 0.18%), while IWF is larger and trades with more volume. Costs and liquidity are the main differences.
Can I lose money investing in IWF?
Yes. IWF holds stocks, and its value can fall. The fund declined about 29% in 2022, and growth stocks can drop quickly on negative news.
Is IWF too concentrated in technology stocks?
Technology represents more than 56% of the fund, and the top ten holdings account for about 57.8% of assets. That is typical of growth indexes today, but it means results depend heavily on a small group of companies.
Data as of October 2026. Sources: issuer websites and finance.yahoo.com.
Disclaimer: The information in this article is for educational and informational purposes only. It does not constitute financial, investment, or tax advice. Past performance is not indicative of future results. Investing in ETFs involves risk, including possible loss of principal. Always consult a qualified financial advisor before making investment decisions.