IWF vs. NACP

Last updated Jun 4, 2026

IWF (iShares Russell 1000 Growth ETF) and NACP (Impact Shares NAACP Minority Empowerment ETF) are both Large Cap Growth Equities funds - IWF tracks the Russell 1000 Growth Index while NACP tracks the Morningstar Minority Empowerment Index. Both are passively managed. Over the past 5 years, IWF returned 15.24%/yr vs 15.98%/yr for NACP. Their correlation of 0.87 suggests significant overlap in exposure. IWF charges 0.18%/yr vs 0.49%/yr for NACP.

Performance

IWF vs. NACP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Russell 1000 Growth ETF (IWF) and Impact Shares NAACP Minority Empowerment ETF (NACP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IWF achieves a 7.11% return, which is significantly lower than NACP's 22.18% return.

IWF

• 1D: -1.29%
• 1M: 5.68%
• YTD: 7.11%
• 6M: 6.51%
• 1Y: 25.60%
• 3Y*: 24.80%
• 5Y*: 15.24%
• 10Y*: 18.49%

NACP

• 1D: -0.13%
• 1M: 9.92%
• YTD: 22.18%
• 6M: 20.98%
• 1Y: 43.81%
• 3Y*: 27.18%
• 5Y*: 15.98%
• 10Y*: —

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

IWF vs. NACP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
IWF iShares Russell 1000 Growth ETF	7.11%	18.33%	33.12%	42.59%	-29.31%	27.43%	38.25%	35.86%	-11.91%
NACP Impact Shares NAACP Minority Empowerment ETF	22.18%	21.38%	23.93%	29.69%	-23.05%	27.62%	26.00%	30.74%	-8.79%

Correlation

The correlation between IWF and NACP is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (All Time) Calculated using the full available price history since Jul 20, 2018	0.87

The correlation between IWF and NACP shifts across timeframes, from 0.82 (1 year) to 0.92 (5 years), reflecting how their relationship changes across market environments.

IWF vs. NACP - Sectors Allocation Comparison

Sectors	IWF	NACP
Technology	53.2%	35.8%
Consumer Cyclical	12.7%	11.1%
Communication Services	12.3%	9.8%
Healthcare	7.0%	9.2%
Industrials	5.0%	8.7%
Financial Services	4.9%	10.6%
Consumer Defensive	2.5%	3.6%
Utilities	1.1%	3.4%
Real Estate	0.4%	1.3%
Energy	0.4%	5.0%
Basic Materials	0.3%	1.5%

Return for Risk

IWF vs. NACP — Risk / Return Rank

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

IWF

IWF Risk / Return Rank: 40
IWF Sharpe Ratio Rank: 47
IWF Sortino Ratio Rank: 45
IWF Omega Ratio Rank: 44
IWF Calmar Ratio Rank: 31
IWF Martin Ratio Rank: 34

NACP

NACP Risk / Return Rank: 88
NACP Sharpe Ratio Rank: 90
NACP Sortino Ratio Rank: 89
NACP Omega Ratio Rank: 86
NACP Calmar Ratio Rank: 84
NACP Martin Ratio Rank: 89

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.

IWF vs. NACP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Russell 1000 Growth ETF (IWF) and Impact Shares NAACP Minority Empowerment ETF (NACP). 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.

	IWF	NACP	Difference
Sharpe ratio: Return per unit of total volatility	1.67	3.14	-1.47
Sortino ratio: Return per unit of downside risk	2.29	4.17	-1.88
Omega ratio: Gain probability vs. loss probability	1.29	1.54	-0.25
Calmar ratio: Return relative to maximum drawdown	1.58	4.56	-2.98
Martin ratio: Return relative to average drawdown	5.28	20.04	-14.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWF vs. NACP - Sharpe Ratio Comparison

The current IWF Sharpe Ratio is 1.67, which is lower than the NACP Sharpe Ratio of 3.14. The chart below compares the historical Sharpe Ratios of IWF and NACP, 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

	IWF	NACP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	3.14	-1.47
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.72	0.92	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.88	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.93	-0.53

Drawdowns

IWF vs. NACP - Drawdown Comparison

The maximum IWF drawdown since its inception was -64.25%, which is greater than NACP's maximum drawdown of -30.96%. Use the drawdown chart below to compare losses from any high point for IWF and NACP.

Drawdown Indicators

	IWF	NACP	Difference
Max Drawdown Largest peak-to-trough decline	-64.25%	-30.96%	-33.29%
Max Drawdown (1Y) Largest decline over 1 year	-16.27%	-9.65%	-6.62%
Max Drawdown (3Y) Largest decline over 3 years	-23.36%	-19.66%	-3.70%
Max Drawdown (5Y) Largest decline over 5 years	-32.72%	-27.89%	-4.83%
Max Drawdown (10Y) Largest decline over 10 years	-32.72%	—	—
Current Drawdown Current decline from peak	-1.66%	-0.13%	-1.53%
Average Drawdown Average peak-to-trough decline	-22.08%	-5.75%	-16.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	2.19%	+2.67%

Volatility

IWF vs. NACP - Volatility Comparison

The current volatility for iShares Russell 1000 Growth ETF (IWF) is 3.61%, while Impact Shares NAACP Minority Empowerment ETF (NACP) has a volatility of 4.44%. This indicates that IWF experiences smaller price fluctuations and is considered to be less risky than NACP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IWF	NACP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.61%	4.44%	-0.83%
Volatility (6M) Calculated over the trailing 6-month period	11.66%	11.13%	+0.53%
Volatility (1Y) Calculated over the trailing 1-year period	15.44%	14.02%	+1.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	17.47%	+3.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.97%	18.70%	+2.27%

IWF vs. NACP - Expense Ratio Comparison

IWF has a 0.18% expense ratio, which is lower than NACP's 0.49% expense ratio.

Dividends

IWF vs. NACP - Dividend Comparison

IWF's dividend yield for the trailing twelve months is around 0.33%, less than NACP's 0.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWF iShares Russell 1000 Growth ETF	0.33%	0.36%	0.46%	0.67%	0.91%	0.49%	0.66%	0.99%	1.27%	1.10%	1.43%	1.37%
NACP Impact Shares NAACP Minority Empowerment ETF	0.55%	0.62%	2.96%	1.28%	3.48%	3.06%	1.48%	1.22%	0.71%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IWF and NACP in my portfolio?

IWF and NACP have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IWF or NACP?

NACP has higher volatility (4.44%) compared to IWF (3.61%). In terms of maximum drawdown, IWF dropped -64.25% vs NACP's -30.96%.

Which ETF is better, IWF or NACP?

On 5-year performance, NACP leads with 15.98% vs 15.24% for IWF. On fees, IWF is cheaper at 0.18% per year. On volatility, IWF has been the lower-risk option at 3.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IWF or NACP?

Over the 5-year period, NACP has performed better with a 15.98% return vs 15.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IWF or NACP?

IWF is cheaper with a 0.18% expense ratio, compared with 0.49% for NACP.

Which ETF pays a higher dividend yield, IWF or NACP?

NACP has the higher dividend yield at 0.55%, compared with 0.33% for IWF.

What is the main difference between IWF and NACP?

IWF tracks Russell 1000 Growth Index, while NACP tracks Morningstar Minority Empowerment Index. They also come from different issuers: iShares and Impact Shares. Their fees differ too: 0.18% for IWF and 0.49% for NACP.

Which has better risk-adjusted returns?

NACP currently has the higher Sharpe Ratio (3.14 vs 1.67), 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.