IWS ETF Explained: Returns, Expense Ratio, Holdings, and Alternative ETFs
The iShares Russell Mid-Cap Value ETF (IWS) offers diversified exposure to US mid-cap value stocks, filling the gap between large caps and small caps. Differences in market-cap range, fees, and dividends versus large-cap value ETFs such as VTV and IWD are the key selection criteria.
SubscribeWhat Is the iShares Russell Mid-Cap Value ETF?
This ETF tracks the Russell Midcap Value Index and invests in a diversified basket of US mid-cap stocks that display value characteristics. It holds a broad range of mid-cap value stocks using a market-cap-weighted approach.
It suits long-term diversified investors who want to add mid-cap value exposure to a portfolio centered on large caps.
It is a passive (index-tracking) ETF managed by iShares.
How Does the iShares Russell Mid-Cap Value ETF Invest?
| Item | Details |
|---|---|
| Tracked Index | Russell Midcap Value |
| Management Style | Passive (index-tracking) |
| Rebalancing Frequency | Annually (index reconstitution) |
| Dividend Frequency | Quarterly |
| Issuer | iShares |
| Expense Ratio | 0.23% |
The fund holds the constituents of the Russell Midcap Value Index in proportion to their market capitalization, tracking the performance of US mid-cap value stocks as a whole. Stocks are selected based on value characteristics, and index reconstitution is reflected automatically on a set schedule. The allocation to cyclical sectors such as financials, industrials, and energy is relatively high.
- Style exposure focused on mid-cap value stocks
- Broad diversification across holdings reduces single-stock risk
iShares Russell Mid-Cap Value ETF Size and Costs (AUM and Expense Ratio)
Assets under management (AUM) stand at $15.0B, and the expense ratio is 0.23% per year.
Compared with peer value ETFs, its market-cap range is concentrated in mid caps, and its fee level differs from that of large-cap value ETFs.
iShares Russell Mid-Cap Value ETF Performance and Trends
1-Year Price Performance
Dividend & Yield
52-Week Price RangeMid-cap value stocks tend to move differently from large-cap growth stocks depending on interest rates and the economic cycle, and recent trends are shaped by the market environment and sector rotation. Short-term swings depend on earnings season and interest rate expectations.
Fund flows tend to be steady thanks to demand for style diversification, and money sometimes flows into the mid-cap value category as a hedge against concentration in large caps. Preference for value versus growth alternates depending on the market phase.
iShares Russell Mid-Cap Value ETF Pros and Cons
Its strengths are diversified exposure focused on mid-cap value stocks and fees below the category average, while volatility from style concentration is a drawback.
💪 Key Strengths
⚠️ Points of Caution
iShares Russell Mid-Cap Value ETF Alternatives and Related Products
The large-cap value ETFs shown in the table (VTV, IWD, IVE) cover a larger market-cap range and differ in fees and exposure, while the small-cap value ETF (VBR) covers a smaller range. For direct comparisons within the same mid-cap range, you can also consider IWR, the Russell Midcap Blend that combines value and growth, IWP for the mid-cap growth style, VOE, Vanguard's mid-cap value ETF, and MDYV, the S&P MidCap 400 value ETF.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 VTV | Vanguard Morningstar Value ETF | $228.02 | -0.4% | $196.6B | 0.03% | 1.83% | +22.9% |
 IWD | iShares Russell 1000 Value ETF | $258.65 | -0.8% | $83.9B | 0.18% | 1.37% | +26.9% |
 IVE | iShares S&P 500 Value ETF | $239.53 | -0.8% | $51.1B | 0.18% | 1.51% | +15.0% |
 SPYV | State Street SPDR Portfolio S&P 500 Value ETF | $64.13 | -0.8% | $39.2B | 0.04% | 1.65% | +14.9% |
 VBR | Vanguard Morningstar Small-Cap Value ETF | $243.44 | -0.6% | $37.3B | 0.05% | 1.82% | +18.4% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
| GLW | Corning Inc | 0.01% | $123.31 | -4.3% | $106.2B | 50.0 | 0.94% |
| WDC | Western Digital Corp | 0.01% | $366.11 | -7.4% | $137.0B | 14.2 | 0.18% |
| SNDK | Sandisk Corp | 0.01% | $1150.89 | -13.5% | $166.3B | 15.8 | - |
| VLO | Valero Energy Corp | 0.01% | $399.66 | +3.9% | $111.5B | 9.0 | 1.21% |
| MPC | Marathon Petroleum Corp | 0.01% | $444.73 | +2.8% | $124.9B | 15.3 | 0.92% |
| CMI | Cummins Inc | 0.01% | $500.09 | -3.5% | $68.8B | 25.6 | 1.75% |
| PSX | Phillips 66 | 0.01% | $282.83 | +3.4% | $110.3B | 9.0 | 1.8% |
| KMI | Kinder Morgan Inc | 0.01% | $33.87 | -0.3% | $75.5B | 21.0 | 3.51% |
| LHX | L3Harris Technologies Inc | 0.01% | $277.61 | -0.3% | $51.7B | 25.9 | 1.78% |
iShares Russell Mid-Cap Value ETF Investor Checkpoints
Here are the points to review before investing in IWS. It is a core-complement asset offering diversified exposure to mid-cap value stocks, but style concentration, cyclical sector exposure, and currency fluctuations are items to confirm in advance. Use the checklist below to review the key factors.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| 💵 Expense Ratio | Check the cumulative impact over long-term holding | Below the category average |
| 📊 Style Exposure | Check the weighting of value and mid-cap concentration | Concentrated in mid-cap value |
| 🏭 Sector Composition | Trend in cyclical sector weightings | Large weightings in financials, industrials, and energy |
| 💱 Currency | Impact on returns converted to won | No currency hedge applied |
Concentration in the value style and cyclical sectors is the main driver of short-term volatility. The fund may lag during periods of growth stock strength, and given the nature of mid caps, volatility can widen during economic slowdowns.
It is a style-complement asset well suited to long-term investors seeking diversified exposure to US mid-cap value stocks. If you want a broader mid-cap range, you can consider a blend ETF (IWR), and if you need a growth style, a growth ETF (IWP).
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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