IVW vs. ILCG

Last updated Jun 4, 2026

IVW (iShares S&P 500 Growth ETF) and ILCG (iShares Morningstar Growth ETF) are both Large Cap Growth Equities funds from iShares - IVW tracks the S&P 500 Growth Index while ILCG tracks the Morningstar US Large-Mid Cap Broad Growth Index Gross. Both are passively managed. Over the past 10 years, IVW returned 18.07%/yr vs 18.15%/yr for ILCG. With a 0.96 correlation, they move nearly in lockstep. IVW charges 0.18%/yr vs 0.04%/yr for ILCG.

Performance

IVW vs. ILCG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares S&P 500 Growth ETF (IVW) and iShares Morningstar Growth ETF (ILCG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVW achieves a 13.68% return, which is significantly lower than ILCG's 14.48% return. Both investments have delivered pretty close results over the past 10 years, with IVW having a 18.07% annualized return and ILCG not far ahead at 18.15%.

IVW

• 1D: -0.98%
• 1M: 7.39%
• YTD: 13.68%
• 6M: 13.49%
• 1Y: 33.77%
• 3Y*: 27.99%
• 5Y*: 15.93%
• 10Y*: 18.07%

ILCG

• 1D: -1.02%
• 1M: 7.68%
• YTD: 14.48%
• 6M: 14.61%
• 1Y: 29.51%
• 3Y*: 26.55%
• 5Y*: 14.95%
• 10Y*: 18.15%

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

IVW vs. ILCG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVW iShares S&P 500 Growth ETF	13.68%	21.95%	35.82%	29.83%	-29.50%	31.80%	33.19%	30.77%	-0.21%	27.21%
ILCG iShares Morningstar Growth ETF	14.48%	16.71%	32.82%	40.41%	-31.75%	24.33%	38.56%	33.22%	2.06%	30.57%

Correlation

The correlation between IVW and ILCG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Jul 6, 2004	0.96

The correlation between IVW and ILCG has been stable across timeframes, ranging from 0.96 to 0.99 - a consistent structural relationship.

IVW vs. ILCG - Sectors Allocation Comparison

Sectors	IVW	ILCG
Technology	49.3%	49.8%
Communication Services	18.0%	14.5%
Consumer Cyclical	9.4%	10.6%
Financial Services	8.9%	6.0%
Industrials	6.2%	8.3%
Healthcare	5.8%	5.3%
Consumer Defensive	1.0%	1.6%
Real Estate	0.6%	1.4%
Utilities	0.4%	0.8%
Basic Materials	0.4%	1.1%
Energy	0.1%	0.5%

Return for Risk

IVW vs. ILCG — Risk / Return Rank

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

IVW

IVW Risk / Return Rank: 57
IVW Sharpe Ratio Rank: 62
IVW Sortino Ratio Rank: 60
IVW Omega Ratio Rank: 59
IVW Calmar Ratio Rank: 49
IVW Martin Ratio Rank: 57

ILCG

ILCG Risk / Return Rank: 46
ILCG Sharpe Ratio Rank: 52
ILCG Sortino Ratio Rank: 49
ILCG Omega Ratio Rank: 50
ILCG Calmar Ratio Rank: 38
ILCG 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.

IVW vs. ILCG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Growth ETF (IVW) and iShares Morningstar Growth ETF (ILCG). 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.

	IVW	ILCG	Difference
Sharpe ratio: Return per unit of total volatility	2.14	1.82	+0.32
Sortino ratio: Return per unit of downside risk	2.88	2.45	+0.44
Omega ratio: Gain probability vs. loss probability	1.37	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	2.47	1.89	+0.57
Martin ratio: Return relative to average drawdown	10.19	6.68	+3.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVW vs. ILCG - Sharpe Ratio Comparison

The current IVW Sharpe Ratio is 2.14, which is comparable to the ILCG Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of IVW and ILCG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IVW	ILCG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	1.82	+0.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.68	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	0.85	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.59	-0.13

Drawdowns

IVW vs. ILCG - Drawdown Comparison

The maximum IVW drawdown since its inception was -57.33%, which is greater than ILCG's maximum drawdown of -52.98%. Use the drawdown chart below to compare losses from any high point for IVW and ILCG.

Drawdown Indicators

	IVW	ILCG	Difference
Max Drawdown Largest peak-to-trough decline	-57.33%	-52.98%	-4.35%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-15.65%	+1.90%
Max Drawdown (3Y) Largest decline over 3 years	-22.15%	-23.10%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-35.38%	+2.66%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	-35.38%	+2.66%
Current Drawdown Current decline from peak	-1.12%	-1.02%	-0.10%
Average Drawdown Average peak-to-trough decline	-17.62%	-8.22%	-9.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	4.43%	-1.11%

Volatility

IVW vs. ILCG - Volatility Comparison

iShares S&P 500 Growth ETF (IVW) and iShares Morningstar Growth ETF (ILCG) have volatilities of 4.30% and 4.40%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVW	ILCG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.30%	4.40%	-0.10%
Volatility (6M) Calculated over the trailing 6-month period	12.37%	12.81%	-0.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	16.31%	-0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.16%	22.00%	-0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.62%	21.53%	-0.91%

IVW vs. ILCG - Expense Ratio Comparison

IVW has a 0.18% expense ratio, which is higher than ILCG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

IVW vs. ILCG - Dividend Comparison

IVW's dividend yield for the trailing twelve months is around 0.35%, less than ILCG's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ILCG iShares Morningstar Growth ETF	0.40%	0.47%	0.50%	0.69%	0.75%	0.34%	0.28%	0.54%	0.81%	0.89%	0.95%	0.99%
IVW iShares S&P 500 Growth ETF	0.35%	0.40%	0.43%	1.03%	0.92%	0.46%	0.82%	1.63%	1.28%	1.30%	1.51%	1.51%

Frequently Asked Questions

Can I hold both IVW and ILCG in my portfolio?

With a correlation of 0.98, IVW and ILCG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, IVW or ILCG?

ILCG has higher volatility (4.40%) compared to IVW (4.30%). In terms of maximum drawdown, IVW dropped -57.33% vs ILCG's -52.98%.

Which ETF is better, IVW or ILCG?

On 10-year performance, ILCG leads with 18.15% vs 18.07% for IVW. On fees, ILCG is cheaper at 0.04% per year. On volatility, IVW has been the lower-risk option at 4.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IVW or ILCG?

Over the 10-year period, ILCG has performed better with a 18.15% return vs 18.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IVW or ILCG?

ILCG is cheaper with a 0.04% expense ratio, compared with 0.18% for IVW.

Which ETF pays a higher dividend yield, IVW or ILCG?

ILCG has the higher dividend yield at 0.40%, compared with 0.35% for IVW.

What is the main difference between IVW and ILCG?

IVW tracks S&P 500 Growth Index, while ILCG tracks Morningstar US Large-Mid Cap Broad Growth Index Gross. Their fees differ too: 0.18% for IVW and 0.04% for ILCG.

Which has better risk-adjusted returns?

IVW currently has the higher Sharpe Ratio (2.14 vs 1.82), 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.