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ARKW vs. IMCG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ARKW vs. IMCG

Last updated Aug 4, 2026
Documentation

ARKW (ARK Next Generation Internet ETF) and IMCG (iShares Morningstar Mid-Cap Growth ETF) are both Mid Cap Growth Equities funds. ARKW is actively managed, while IMCG is passively managed. Over the past 10 years, ARKW returned 21.34%/yr vs 14.19%/yr for IMCG. Their 0.78 correlation means they have sometimes moved together and sometimes differently. ARKW charges 0.76%/yr vs 0.06%/yr for IMCG.

Performance

ARKW vs. IMCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARK Next Generation Internet ETF (ARKW) and iShares Morningstar Mid-Cap Growth ETF (IMCG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, ARKW achieves a -4.64% return, which is significantly lower than IMCG's 21.28% return. Over the past 10 years, ARKW has outperformed IMCG with an annualized return of 21.34%, while IMCG has yielded a comparatively lower 14.19% annualized return.

ARKW

1D
2.95%
1M
-2.97%
6M
4.60%
YTD
-4.64%
1Y
-4.74%
3Y*
32.39%
5Y*
-0.92%
10Y*
21.34%
ALL TIME*
19.87%

IMCG

1D
1.55%
1M
-0.71%
6M
17.16%
YTD
21.28%
1Y
21.14%
3Y*
17.48%
5Y*
7.27%
10Y*
14.19%
ALL TIME*
11.44%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

ARKW

ARK Next Generation Internet ETF
$8.17M$12.26M$13.73M

IMCG

iShares Morningstar Mid-Cap Growth ETF
$8.17M$8.87M$8.86M

ARKW vs. IMCG - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
ARKW
ARK Next Generation Internet ETF		-4.64%38.93%42.27%96.89%-67.49%-18.85%157.44%35.76%4.24%87.29%
IMCG
iShares Morningstar Mid-Cap Growth ETF		21.28%6.55%18.14%20.73%-25.79%15.39%45.64%35.70%-3.68%25.57%

Correlation

The correlation between ARKW and IMCG is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.71

Correlation (3Y)
Balances recent behavior with more history.

0.75

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.80

Correlation (10Y)
Provides a long-term view across more market conditions.

0.80

Correlation (All Time)
Calculated using the full available price history since Sep 30, 2014

0.78

The correlation between ARKW and IMCG has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.

ARKW vs. IMCG - Sectors Allocation Comparison

Sectors
ARKW
IMCG

Technology

49.7%
25.1%

Consumer Cyclical

16.8%
9.8%

Communication Services

15.3%
2.2%

Financial Services

14.7%
11.7%

Industrials

3.5%
24.5%

Basic Materials

-

6.8%

Consumer Defensive

-

2.0%

Energy

-

3.2%

Healthcare

-

7.2%

Real Estate

-

3.9%

Utilities

-

3.3%

Technology

ARKW
49.7%
IMCG
25.1%

Consumer Cyclical

ARKW
16.8%
IMCG
9.8%

Communication Services

ARKW
15.3%
IMCG
2.2%

Financial Services

ARKW
14.7%
IMCG
11.7%

Industrials

ARKW
3.5%
IMCG
24.5%

Basic Materials

ARKW

-

IMCG
6.8%

Consumer Defensive

ARKW

-

IMCG
2.0%

Energy

ARKW

-

IMCG
3.2%

Healthcare

ARKW

-

IMCG
7.2%

Real Estate

ARKW

-

IMCG
3.9%

Utilities

ARKW

-

IMCG
3.3%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

ARK Next Generation Internet ETF

iShares Morningstar Mid-Cap Growth ETF

Often compared with ARKW:
ARKW vs. ARKKARKW vs. ARKQARKW vs. QQQARKW vs. VOOARKW vs. ARKGARKW vs. SPYARKW vs. ARKVX
Often compared with IMCG:
IMCG vs. VOTIMCG vs. IWPIMCG vs. SCHMIMCG vs. XMHQIMCG vs. MDYGIMCG vs. IJKIMCG vs. VO

Return for Risk

ARKW vs. IMCG — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
ARKW
ARKW Risk / Return Rank: 99
Overall Rank
ARKW Sharpe Ratio Rank: 99
Sharpe Ratio Rank
ARKW Sortino Ratio Rank: 1010
Sortino Ratio Rank
ARKW Omega Ratio Rank: 1010
Omega Ratio Rank
ARKW Calmar Ratio Rank: 1010
Calmar Ratio Rank
ARKW Martin Ratio Rank: 99
Martin Ratio Rank
IMCG
IMCG Risk / Return Rank: 5454
Overall Rank
IMCG Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
IMCG Sortino Ratio Rank: 5050
Sortino Ratio Rank
IMCG Omega Ratio Rank: 4747
Omega Ratio Rank
IMCG Calmar Ratio Rank: 5757
Calmar Ratio Rank
IMCG Martin Ratio Rank: 6363
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ARKW vs. IMCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARK Next Generation Internet ETF (ARKW) and iShares Morningstar Mid-Cap Growth ETF (IMCG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

ARKWIMCGDifference
Sharpe ratioReturn per unit of total volatility
-0.14
1.26

-1.40

Sortino ratioReturn per unit of downside risk
0.03
1.84

-1.81

Omega ratioGain probability vs. loss probability

1.00

1.22

-0.22

Calmar ratioReturn relative to maximum drawdown

-0.13

2.09

-2.22

Martin ratioReturn relative to average drawdown

-0.25

7.86

-8.11

ARKW vs. IMCG - Sharpe Ratio Comparison

The current ARKW Sharpe Ratio is -0.14, which is lower than the IMCG Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of ARKW and IMCG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ARKW vs. IMCG - Drawdown Comparison

The maximum ARKW drawdown since its inception was -80.52%, which is greater than IMCG's maximum drawdown of -58.96%. Use the drawdown chart below to compare losses from any high point for ARKW and IMCG.

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Drawdown Indicators

ARKWIMCGDifference

Max Drawdown

Largest peak-to-trough decline

-80.52%

-58.96%

-21.56%

Max Drawdown (1Y)

Largest decline over 1 year

-36.21%

-10.17%

-26.04%

Max Drawdown (3Y)

Largest decline over 3 years

-36.21%

-21.92%

-14.29%

Max Drawdown (5Y)

Largest decline over 5 years

-77.36%

-35.08%

-42.28%

Max Drawdown (10Y)

Largest decline over 10 years

-80.52%

-35.08%

-45.44%

Current Drawdown

Current decline from peak

-23.57%

-1.75%

-21.82%

Average Drawdown

Average peak-to-trough decline

-23.95%

-9.17%

-14.78%

Ulcer Index

Depth and duration of drawdowns from previous peaks

19.38%

2.70%

+16.68%

Volatility

ARKW vs. IMCG - Volatility Comparison

ARK Next Generation Internet ETF (ARKW) has a higher volatility of 9.38% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 3.82%. This indicates that ARKW's price experiences larger fluctuations and is considered to be riskier than IMCG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ARKWIMCGDifference

Volatility (1M)

Calculated over the trailing 1-month period

9.38%

3.82%

+5.56%

Volatility (6M)

Calculated over the trailing 6-month period

25.80%

14.02%

+11.78%

Volatility (1Y)

Calculated over the trailing 1-year period

33.40%

16.91%

+16.49%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

43.79%

20.38%

+23.41%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

37.84%

20.56%

+17.28%

ARKW vs. IMCG - Expense Ratio Comparison

ARKW has a 0.76% expense ratio, which is higher than IMCG's 0.06% expense ratio.

Dividends

ARKW vs. IMCG - Dividend Comparison

ARKW's dividend yield for the trailing twelve months is around 1.67%, more than IMCG's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
ARKW
ARK Next Generation Internet ETF		1.67%1.59%0.00%0.00%0.00%0.17%1.29%0.00%13.05%2.05%0.00%2.29%
IMCG
iShares Morningstar Mid-Cap Growth ETF		0.62%0.78%0.78%0.85%0.91%0.41%0.09%0.30%0.35%0.45%0.52%0.38%

Frequently Asked Questions

ARKW and IMCG have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

ARKW has higher volatility (9.38%) compared to IMCG (3.82%). In terms of maximum drawdown, ARKW dropped -80.52% vs IMCG's -58.96%.

On 10-year performance, ARKW leads with 21.34% vs 14.19% for IMCG. On fees, IMCG is cheaper at 0.06% per year. On volatility, IMCG has been the lower-risk option at 3.82%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, ARKW has performed better with a 21.34% return vs 14.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

IMCG is cheaper with a 0.06% expense ratio, compared with 0.76% for ARKW.

ARKW has the higher dividend yield at 1.67%, compared with 0.62% for IMCG.

They also come from different issuers: ARK and iShares. Their fees differ too: 0.76% for ARKW and 0.06% for IMCG.

IMCG currently has the higher Sharpe Ratio (1.26 vs -0.14), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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