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IYW vs. MGK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IYW vs. MGK

Last updated Jun 4, 2026

IYW (iShares U.S. Technology ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, IYW returned 26.11%/yr vs 19.24%/yr for MGK. Their correlation of 0.94 suggests significant overlap in exposure. IYW charges 0.38%/yr vs 0.05%/yr for MGK.

Performance

IYW vs. MGK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares U.S. Technology ETF (IYW) and Vanguard Mega Cap Growth ETF (MGK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IYW achieves a 29.03% return, which is significantly higher than MGK's 10.01% return. Over the past 10 years, IYW has outperformed MGK with an annualized return of 26.11%, while MGK has yielded a comparatively lower 19.24% annualized return.

IYW

1D
-0.92%
1M
16.53%
YTD
29.03%
6M
28.22%
1Y
59.52%
3Y*
35.24%
5Y*
22.87%
10Y*
26.11%

MGK

1D
-1.13%
1M
7.26%
YTD
10.01%
6M
9.45%
1Y
30.01%
3Y*
26.77%
5Y*
16.25%
10Y*
19.24%
*Multi-year figures are annualized to reflect compound growth (CAGR)

IYW vs. MGK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
IYW
iShares U.S. Technology ETF		29.03%25.38%30.25%65.44%-34.83%35.44%47.45%46.64%-0.93%36.60%
MGK
Vanguard Mega Cap Growth ETF		10.01%20.67%32.94%51.67%-33.59%28.58%41.01%37.38%-2.91%29.49%

Correlation

The correlation between IYW and MGK is 0.94, 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

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year period

0.97

Correlation (10Y)
Calculated over the trailing 10-year period

0.96

Correlation (All Time)
Calculated using the full available price history since Dec 28, 2007

0.94

The correlation between IYW and MGK has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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

iShares U.S. Technology ETF

Vanguard Mega Cap Growth ETF

Often compared with IYW:
IYW vs. VGTIYW vs. QQQIYW vs. XLKIYW vs. IGMIYW vs. SMHIYW vs. IWFIYW vs. SOXX
Often compared with MGK:
MGK vs. VGTMGK vs. VUGMGK vs. QQQMGK vs. SCHGMGK vs. MAGSMGK vs. MGCMGK vs. MGV

Return for Risk

IYW vs. MGK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IYW
IYW Risk / Return Rank: 7575
Overall Rank
IYW Sharpe Ratio Rank: 8787
Sharpe Ratio Rank
IYW Sortino Ratio Rank: 8181
Sortino Ratio Rank
IYW Omega Ratio Rank: 8080
Omega Ratio Rank
IYW Calmar Ratio Rank: 6666
Calmar Ratio Rank
IYW Martin Ratio Rank: 6060
Martin Ratio Rank
MGK
MGK Risk / Return Rank: 4545
Overall Rank
MGK Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
MGK Sortino Ratio Rank: 5050
Sortino Ratio Rank
MGK Omega Ratio Rank: 5050
Omega Ratio Rank
MGK Calmar Ratio Rank: 3535
Calmar Ratio Rank
MGK Martin Ratio Rank: 3838
Martin Ratio Rank
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.

IYW vs. MGK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares U.S. Technology ETF (IYW) and Vanguard Mega Cap Growth ETF (MGK). 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.

IYWMGKDifference
Sharpe ratioReturn per unit of total volatility
2.98
1.86

+1.12

Sortino ratioReturn per unit of downside risk
3.70
2.53

+1.17

Omega ratioGain probability vs. loss probability

1.48

1.32

+0.16

Calmar ratioReturn relative to maximum drawdown

3.36

1.79

+1.57

Martin ratioReturn relative to average drawdown

11.00

6.15

+4.84

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IYW vs. MGK - Sharpe Ratio Comparison

The current IYW Sharpe Ratio is 2.98, which is higher than the MGK Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of IYW and MGK, 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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Sharpe Ratios by Period

IYWMGKDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.98

1.86

+1.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.89

0.72

+0.17

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.04

0.88

+0.16

Sharpe Ratio (All Time)

Calculated using the full available price history

0.35

0.66

-0.30

Drawdowns

IYW vs. MGK - Drawdown Comparison

The maximum IYW drawdown since its inception was -81.90%, which is greater than MGK's maximum drawdown of -47.97%. Use the drawdown chart below to compare losses from any high point for IYW and MGK.

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Drawdown Indicators

IYWMGKDifference

Max Drawdown

Largest peak-to-trough decline

-81.90%

-47.97%

-33.93%

Max Drawdown (1Y)

Largest decline over 1 year

-17.81%

-16.85%

-0.96%

Max Drawdown (3Y)

Largest decline over 3 years

-26.47%

-23.36%

-3.11%

Max Drawdown (5Y)

Largest decline over 5 years

-39.44%

-36.01%

-3.43%

Max Drawdown (10Y)

Largest decline over 10 years

-39.44%

-36.01%

-3.43%

Current Drawdown

Current decline from peak

-0.92%

-1.43%

+0.51%

Average Drawdown

Average peak-to-trough decline

-34.66%

-7.47%

-27.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.43%

4.89%

+0.54%

Volatility

IYW vs. MGK - Volatility Comparison

iShares U.S. Technology ETF (IYW) has a higher volatility of 6.30% compared to Vanguard Mega Cap Growth ETF (MGK) at 4.01%. This indicates that IYW's price experiences larger fluctuations and is considered to be riskier than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IYWMGKDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.30%

4.01%

+2.29%

Volatility (6M)

Calculated over the trailing 6-month period

15.85%

12.37%

+3.48%

Volatility (1Y)

Calculated over the trailing 1-year period

20.09%

16.23%

+3.86%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

25.87%

22.63%

+3.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

25.09%

21.88%

+3.21%

IYW vs. MGK - Expense Ratio Comparison

IYW has a 0.38% expense ratio, which is higher than MGK's 0.05% expense ratio.

Dividends

IYW vs. MGK - Dividend Comparison

IYW's dividend yield for the trailing twelve months is around 0.11%, less than MGK's 0.32% yield.

PositionTTM20252024202320222021202020192018201720162015
IYW
iShares U.S. Technology ETF		0.11%0.14%0.21%0.34%0.50%0.31%0.56%0.72%0.92%0.82%1.14%1.12%
MGK
Vanguard Mega Cap Growth ETF		0.32%0.35%0.43%0.50%0.70%0.41%0.65%0.85%1.12%1.23%1.53%1.43%

Frequently Asked Questions

With a correlation of 0.94, IYW and MGK 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.

IYW has higher volatility (6.30%) compared to MGK (4.01%). In terms of maximum drawdown, IYW dropped -81.90% vs MGK's -47.97%.

On 10-year performance, IYW leads with 26.11% vs 19.24% for MGK. On fees, MGK is cheaper at 0.05% per year. On volatility, MGK has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IYW has performed better with a 26.11% return vs 19.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MGK is cheaper with a 0.05% expense ratio, compared with 0.38% for IYW.

MGK has the higher dividend yield at 0.32%, compared with 0.11% for IYW.

IYW is categorized as Technology Equities, while MGK is Large Cap Growth Equities. IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index, while MGK tracks CRSP US Mega Cap Growth Index. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.38% for IYW and 0.05% for MGK.

IYW currently has the higher Sharpe Ratio (2.98 vs 1.86), 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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