IWP vs. IVOG
IWP (iShares Russell Mid-Cap Growth ETF) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both Mid Cap Growth Equities funds - IWP tracks the Russell Midcap Growth Index while IVOG tracks the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, IWP returned 12.06%/yr vs 11.14%/yr for IVOG. Their correlation of 0.91 suggests significant overlap in exposure. IWP charges 0.23%/yr vs 0.10%/yr for IVOG.
Performance
IWP vs. IVOG - Performance Comparison
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Returns By Period
In the year-to-date period, IWP achieves a 3.54% return, which is significantly lower than IVOG's 17.75% return. Over the past 10 years, IWP has outperformed IVOG with an annualized return of 12.06%, while IVOG has yielded a comparatively lower 11.14% annualized return.
IWP
- 1D
- 0.61%
- 1M
- 0.66%
- 6M
- 0.28%
- YTD
- 3.54%
- 1Y
- 2.24%
- 3Y*
- 13.18%
- 5Y*
- 5.60%
- 10Y*
- 12.06%
IVOG
- 1D
- 0.68%
- 1M
- -0.99%
- 6M
- 11.61%
- YTD
- 17.75%
- 1Y
- 23.66%
- 3Y*
- 15.12%
- 5Y*
- 8.45%
- 10Y*
- 11.14%
IWP vs. IVOG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 3.54% | 8.45% | 21.86% | 25.70% | -26.90% | 12.60% | 35.25% | 35.04% | -4.89% | 24.93% |
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 17.75% | 7.34% | 15.62% | 17.36% | -19.08% | 18.85% | 22.60% | 26.13% | -10.58% | 19.90% |
Correlation
The correlation between IWP and IVOG is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.91 |
The correlation between IWP and IVOG has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
IWP vs. IVOG — Risk / Return Rank
IWP
IVOG
IWP vs. IVOG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Mid-Cap Growth ETF (IWP) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.
| IWP | IVOG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.20 | ||
| Sortino ratioReturn per unit of downside risk | -1.66 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.24 | -0.20 |
| Calmar ratioReturn relative to maximum drawdown | 0.15 | 2.45 | -2.30 |
| Martin ratioReturn relative to average drawdown | 0.44 | 9.35 | -8.92 |
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Drawdowns
IWP vs. IVOG - Drawdown Comparison
The maximum IWP drawdown since its inception was -56.92%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for IWP and IVOG.
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Drawdown Indicators
| IWP | IVOG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.92% | -39.32% | -17.60% |
Max Drawdown (1Y)Largest decline over 1 year | -14.79% | -9.69% | -5.10% |
Max Drawdown (3Y)Largest decline over 3 years | -25.20% | -25.61% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -38.62% | -29.31% | -9.31% |
Max Drawdown (10Y)Largest decline over 10 years | -38.62% | -39.32% | +0.70% |
Current DrawdownCurrent decline from peak | -3.31% | -3.25% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -9.65% | -5.85% | -3.80% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.14% | 2.54% | +2.60% |
Volatility
IWP vs. IVOG - Volatility Comparison
iShares Russell Mid-Cap Growth ETF (IWP) has a higher volatility of 5.19% compared to Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) at 4.70%. This indicates that IWP's price experiences larger fluctuations and is considered to be riskier than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IWP | IVOG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.19% | 4.70% | +0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 13.69% | 13.90% | -0.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.31% | 17.88% | -0.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.45% | 20.72% | +1.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.69% | 20.59% | +1.10% |
IWP vs. IVOG - Expense Ratio Comparison
IWP has a 0.23% expense ratio, which is higher than IVOG's 0.10% 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
IWP vs. IVOG - Dividend Comparison
IWP's dividend yield for the trailing twelve months is around 0.35%, less than IVOG's 0.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IVOG Vanguard S&P Mid-Cap 400 Growth ETF | 0.55% | 0.64% | 0.79% | 1.15% | 1.05% | 0.47% | 0.74% | 1.17% | 1.01% | 0.93% | 1.11% | 1.04% |
IWP iShares Russell Mid-Cap Growth ETF | 0.35% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
Frequently Asked Questions
IWP and IVOG have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.19%) compared to IVOG (4.70%). In terms of maximum drawdown, IWP dropped -56.92% vs IVOG's -39.32%.
On 10-year performance, IWP leads with 12.06% vs 11.14% for IVOG. On fees, IVOG is cheaper at 0.10% per year. On volatility, IVOG has been the lower-risk option at 4.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, IWP has performed better with a 12.06% return vs 11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVOG is cheaper with a 0.10% expense ratio, compared with 0.23% for IWP.
IVOG has the higher dividend yield at 0.55%, compared with 0.35% for IWP.
IWP tracks Russell Midcap Growth Index, while IVOG tracks S&P MidCap 400 Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.23% for IWP and 0.10% for IVOG.
IVOG currently has the higher Sharpe Ratio (1.33 vs 0.13), 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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