ARKW vs. IMCG

Last updated Apr 2, 2026

Compare and contrast key facts about ARK Next Generation Internet ETF (ARKW) and iShares Morningstar Mid-Cap Growth ETF (IMCG).

ARKW and IMCG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ARKW is an actively managed fund by ARK. It was launched on Sep 30, 2014. IMCG is a passively managed fund by iShares that tracks the performance of the Morningstar US Mid Cap Broad Growth Index. It was launched on Jun 28, 2004.

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.

ARKW vs. IMCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARKW ARK Next Generation Internet ETF	-17.90%	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	0.05%	6.55%	18.14%	20.73%	-25.79%	15.39%	45.64%	35.70%	-3.68%	25.57%

Returns By Period

In the year-to-date period, ARKW achieves a -17.90% return, which is significantly lower than IMCG's 0.05% return. Over the past 10 years, ARKW has outperformed IMCG with an annualized return of 21.40%, while IMCG has yielded a comparatively lower 12.72% annualized return.

ARKW

• 1D: 0.56%
• 1M: -4.66%
• YTD: -17.90%
• 6M: -29.29%
• 1Y: 27.20%
• 3Y*: 31.95%
• 5Y*: -3.84%
• 10Y*: 21.40%

IMCG

• 1D: 1.26%
• 1M: -5.48%
• YTD: 0.05%
• 6M: -2.78%
• 1Y: 11.82%
• 3Y*: 12.40%
• 5Y*: 5.34%
• 10Y*: 12.72%

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARKW vs. IMCG - Expense Ratio Comparison

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

ARKW

ARK Next Generation Internet ETF

IMCG

iShares Morningstar Mid-Cap Growth ETF

Return for Risk

ARKW vs. IMCG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARKW

ARKW Risk / Return Rank: 35
ARKW Sharpe Ratio Rank: 37
ARKW Sortino Ratio Rank: 42
ARKW Omega Ratio Rank: 36
ARKW Calmar Ratio Rank: 32
ARKW Martin Ratio Rank: 25

IMCG

IMCG Risk / Return Rank: 33
IMCG Sharpe Ratio Rank: 30
IMCG Sortino Ratio Rank: 31
IMCG Omega Ratio Rank: 30
IMCG Calmar Ratio Rank: 36
IMCG Martin Ratio Rank: 41

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	ARKW	IMCG	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.58	+0.14
Sortino ratio Return per unit of downside risk	1.24	0.97	+0.27
Omega ratio Gain probability vs. loss probability	1.15	1.13	+0.02
Calmar ratio Return relative to maximum drawdown	0.83	0.97	-0.13
Martin ratio Return relative to average drawdown	2.01	3.96	-1.96
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ARKW vs. IMCG - Sharpe Ratio Comparison

The current ARKW Sharpe Ratio is 0.72, which is comparable to the IMCG Sharpe Ratio of 0.58. The chart below compares the historical Sharpe Ratios of ARKW and IMCG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ARKW	IMCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.58	+0.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.09	0.27	-0.36
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.57	0.62	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.50	+0.03

Correlation

The correlation between ARKW and IMCG is 0.79, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ARKW vs. IMCG - Dividend Comparison

ARKW's dividend yield for the trailing twelve months is around 1.94%, more than IMCG's 0.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ARKW ARK Next Generation Internet ETF	1.94%	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	0.79%	0.78%	0.78%	0.85%	0.91%	0.41%	0.09%	0.30%	0.35%	0.45%	0.52%	0.38%

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.

Drawdown Indicators

	ARKW	IMCG	Difference
Max Drawdown Largest peak-to-trough decline	-80.52%	-58.96%	-21.56%
Max Drawdown (1Y) Largest decline over 1 year	-36.21%	-12.99%	-23.22%
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	-34.20%	-5.73%	-28.47%
Average Drawdown Average peak-to-trough decline	-23.98%	-9.29%	-14.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.98%	3.16%	+11.82%

Volatility

ARKW vs. IMCG - Volatility Comparison

ARK Next Generation Internet ETF (ARKW) has a higher volatility of 11.70% compared to iShares Morningstar Mid-Cap Growth ETF (IMCG) at 7.19%. 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.

Volatility by Period

	ARKW	IMCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.70%	7.19%	+4.51%
Volatility (6M) Calculated over the trailing 6-month period	25.81%	12.15%	+13.66%
Volatility (1Y) Calculated over the trailing 1-year period	37.79%	20.30%	+17.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.68%	20.09%	+23.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.55%	20.44%	+17.11%