IWP ETF: What Is It? Returns, Expense Ratio, Holdings and Alternative ETFs
The iShares Russell Mid-Cap Growth ETF (IWP) invests across US mid-cap growth stocks, offering exposure to the growth potential of the space between large caps and small caps. Its main strengths are an expense ratio below the category average, quarterly dividends and broad diversification.
SubscribeWhat Is the iShares Russell Mid-Cap Growth ETF?
This ETF tracks the Russell Midcap Growth Index and concentrates its investments in US mid-cap stocks with growth characteristics. It invests most of its assets in the index constituents, which are selected based on sales growth and growth outlook.
It suits long-term investors who want growth stock exposure in the middle ground between large caps and small caps.
It is a passively managed (index-tracking) ETF run by iShares.
How Does the iShares Russell Mid-Cap Growth ETF Invest?
| Item | Details |
|---|---|
| Tracked index | Russell Midcap Growth |
| Management style | Passive (index-tracking) |
| Rebalancing frequency | Annually (quarterly adjustments) |
| Dividend frequency | Quarterly |
| Issuer | iShares |
| Expense ratio | 0.23% |
The fund holds the constituents of the Russell Midcap Growth Index at index weights, tracking the performance of US mid-cap growth stocks as a whole. With a high weighting in stocks with strong growth characteristics, it is exposed to technology and consumer growth sectors, and rebalancing is reflected automatically according to the index reconstitution schedule.
- Exposure focused on US mid-cap growth stocks
- Management fee below the category average
iShares Russell Mid-Cap Growth ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $19.1B, and the expense ratio is 0.23% per year.
With a substantial asset base, trading liquidity is good, and the fee burden is on the low side within the mid-cap growth category.
iShares Russell Mid-Cap Growth ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeMid-cap growth stocks tend to react sensitively to the economic cycle and the interest rate environment, and they can show relatively strong performance when growth stocks are in favor. Short-term moves are influenced by earnings seasons and interest rate expectations.
Fund flows continue as demand for satellite assets that complement core large-cap holdings, and interest tends to gather in the mid-cap growth category when appetite for growth stocks strengthens.
iShares Russell Mid-Cap Growth ETF Pros and Cons
Mid-cap growth exposure and a low fee are its strengths, while the volatility typical of growth stocks and concentration in top holdings can work as drawbacks.
💪 Key Strengths
⚠️ Points to Watch
iShares Russell Mid-Cap Growth ETF Alternative ETFs and Related Products
The VUG, IWF, IVW, SCHG and SPYG shown in the table are mostly core growth ETFs centered on large-cap growth stocks, so their market capitalization exposure differs from that of IWP, which specializes in the mid-cap space. If you want a value style within the same mid-cap category, you can consider IWS, and to hold the mid-cap segment broadly, IWR is also worth a look. To extend exposure to small-cap growth, IWO is an alternative.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VUG | Vanguard Morningstar Growth ETF | $88.81 | +0.4% | $229.7B | 0.03% | 0.39% | +6.1% |
 IWF | iShares Russell 1000 Growth ETF | $123.01 | +0.6% | $124.8B | 0.18% | 0.35% | +0.5% |
 IVW | iShares S&P 500 Growth ETF | $140.18 | +0.7% | $77.4B | 0.18% | 0.35% | +11.6% |
 SCHG | Schwab U.S. Large-Cap Growth ETF | $35.62 | +0.3% | $63.8B | 0.04% | 0.39% | +6.3% |
 SPYG | State Street SPDR Portfolio S&P 500 Growth ETF | $121.33 | +0.6% | $55.9B | 0.04% | 0.48% | +11.6% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| VRT | Vertiv Holdings Co | 0.03% | $242.94 | +16.5% | $93.5B | 45.4 | 0.09% |
| HWM | Howmet Aerospace Inc | 0.03% | $195.19 | +1.7% | $77.8B | 42.1 | 0.26% |
| RCL | Royal Caribbean Group | 0.03% | $298.30 | +0.8% | $79.8B | 17.7 | 1.85% |
| HLT | Hilton Worldwide Holdings Inc | 0.02% | $349.63 | +1.4% | $78.7B | 47.2 | 0.17% |
| DDOG | Datadog Inc | 0.02% | $278.41 | -0.9% | $100.0B | 568.8 | - |
| NET | Cloudflare Inc | 0.04% | $318.72 | -2.8% | $113.5B | - | - |
| SNOW | Snowflake Inc | 0.02% | $339.91 | +0.7% | $119.9B | - | - |
| PWR | Quanta Services Inc | 0.02% | $606.89 | +4.8% | $91.2B | 69.5 | 0.07% |
| TER | Teradyne Inc | 0.02% | $313.24 | -3.2% | $49.0B | 36.0 | 0.16% |
iShares Russell Mid-Cap Growth ETF Investor Checkpoints
Here are the points to review before investing in IWP. Exposure to US mid-cap growth stocks is the core appeal, but long-term cost burden, top holdings concentration, the volatility typical of growth stocks and currency effects should be checked in advance.
| Checkpoint | What to check | Current status |
|---|---|---|
| 💵 Expense ratio | Check the cumulative impact over a long holding period | Low relative to the category average |
| 📊 Top holdings concentration | Trend in the weighting of growth momentum stocks | Needs checking |
| 📈 Style exposure | Check the weighting of mid-cap growth stocks | Concentrated in growth style |
| 💱 Exchange rate | Impact on returns converted into won | No currency hedge |
Growth stock volatility and top holdings concentration are the main drivers of short-term volatility. In risk-off periods, mid-cap growth stocks can fall more than large-cap core assets.
It is a suitable choice for investors who want diversified exposure to US mid-cap growth stocks. If you want large-cap growth exposure, VUG and SCHG can be alternatives, and if you want broad mid-cap exposure, IWR can be an alternative.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of June 21, 2026.
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