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VONE vs. IWY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VONE vs. IWY

Last updated Aug 2, 2026
Documentation

VONE (Vanguard Russell 1000 ETF) and IWY (iShares Russell Top 200 Growth ETF) are both exchange-traded funds - VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index, while IWY is a Large Cap Growth Equities fund tracking the Russell Top 200 Growth Index. Both are passively managed. Over the past 10 years, VONE returned 14.84%/yr vs 18.31%/yr for IWY. Their correlation of 0.92 means they have usually moved in the same direction. VONE charges 0.08%/yr vs 0.20%/yr for IWY.

Performance

VONE vs. IWY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 1000 ETF (VONE) and iShares Russell Top 200 Growth ETF (IWY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VONE achieves a 9.88% return, which is significantly higher than IWY's -0.03% return. Over the past 10 years, VONE has underperformed IWY with an annualized return of 14.84%, while IWY has yielded a comparatively higher 18.31% annualized return.

VONE

1D
0.63%
1M
0.00%
6M
8.37%
YTD
9.88%
1Y
20.88%
3Y*
19.04%
5Y*
12.06%
10Y*
14.84%
ALL TIME*
14.40%

IWY

1D
0.85%
1M
-2.47%
6M
1.67%
YTD
-0.03%
1Y
10.78%
3Y*
19.65%
5Y*
12.72%
10Y*
18.31%
ALL TIME*
16.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

IWY

iShares Russell Top 200 Growth ETF
$127.32M$104.93M$113.90M

VONE

Vanguard Russell 1000 ETF
$26.18M$27.84M$30.74M

VONE vs. IWY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VONE
Vanguard Russell 1000 ETF		9.88%17.21%24.51%26.41%-19.14%26.49%20.95%31.12%-4.84%21.55%
IWY
iShares Russell Top 200 Growth ETF		-0.03%18.19%34.89%46.49%-29.91%31.05%39.01%36.20%-0.72%31.69%

Correlation

The correlation between VONE and IWY is 0.90, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.90

Correlation (3Y)
Balances recent behavior with more history.

0.91

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.93

Correlation (10Y)
Provides a long-term view across more market conditions.

0.92

Correlation (All Time)
Calculated using the full available price history since Sep 22, 2010

0.92

The correlation between VONE and IWY has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

VONE vs. IWY - Sectors Allocation Comparison

Sectors
VONE
IWY

Technology

36.6%
57.1%

Financial Services

11.6%
5.0%

Industrials

9.8%
6.5%

Consumer Cyclical

9.6%
7.3%

Communication Services

9.6%
16.4%

Healthcare

9.1%
5.0%

Consumer Defensive

4.4%
1.2%

Energy

3.1%
0.0%

Utilities

2.2%
1.0%

Real Estate

2.1%
0.2%

Basic Materials

1.9%
0.1%

Technology

VONE
36.6%
IWY
57.1%

Financial Services

VONE
11.6%
IWY
5.0%

Industrials

VONE
9.8%
IWY
6.5%

Consumer Cyclical

VONE
9.6%
IWY
7.3%

Communication Services

VONE
9.6%
IWY
16.4%

Healthcare

VONE
9.1%
IWY
5.0%

Consumer Defensive

VONE
4.4%
IWY
1.2%

Energy

VONE
3.1%
IWY
0.0%

Utilities

VONE
2.2%
IWY
1.0%

Real Estate

VONE
2.1%
IWY
0.2%

Basic Materials

VONE
1.9%
IWY
0.1%

Compare stocks, funds, or ETFs

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

Vanguard Russell 1000 ETF

iShares Russell Top 200 Growth ETF

Often compared with VONE:
VONE vs. VONGVONE vs. VOOVONE vs. IWBVONE vs. VONVVONE vs. SPYVONE vs. VTHRVONE vs. VWUSX
Often compared with IWY:
IWY vs. QQQIWY vs. SCHGIWY vs. SPYIWY vs. IWFIWY vs. MGKIWY vs. SPMOIWY vs. VONG

Return for Risk

VONE vs. IWY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
VONE
VONE Risk / Return Rank: 6464
Overall Rank
VONE Sharpe Ratio Rank: 6464
Sharpe Ratio Rank
VONE Sortino Ratio Rank: 6262
Sortino Ratio Rank
VONE Omega Ratio Rank: 6161
Omega Ratio Rank
VONE Calmar Ratio Rank: 6262
Calmar Ratio Rank
VONE Martin Ratio Rank: 7474
Martin Ratio Rank
IWY
IWY Risk / Return Rank: 2121
Overall Rank
IWY Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
IWY Sortino Ratio Rank: 2222
Sortino Ratio Rank
IWY Omega Ratio Rank: 2121
Omega Ratio Rank
IWY Calmar Ratio Rank: 2020
Calmar Ratio Rank
IWY Martin Ratio Rank: 2222
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

VONE vs. IWY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 1000 ETF (VONE) and iShares Russell Top 200 Growth ETF (IWY). 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.

VONEIWYDifference
Sharpe ratioReturn per unit of total volatility
1.47
0.48

+0.98

Sortino ratioReturn per unit of downside risk
2.06
0.79

+1.28

Omega ratioGain probability vs. loss probability

1.26

1.09

+0.17

Calmar ratioReturn relative to maximum drawdown

2.14

0.52

+1.62

Martin ratioReturn relative to average drawdown

9.17

1.50

+7.67

VONE vs. IWY - Sharpe Ratio Comparison

The current VONE Sharpe Ratio is 1.47, which is higher than the IWY Sharpe Ratio of 0.48. The chart below compares the historical Sharpe Ratios of VONE and IWY, 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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Drawdowns

VONE vs. IWY - Drawdown Comparison

The maximum VONE drawdown since its inception was -34.66%, which is greater than IWY's maximum drawdown of -32.68%. Use the drawdown chart below to compare losses from any high point for VONE and IWY.

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Drawdown Indicators

VONEIWYDifference

Max Drawdown

Largest peak-to-trough decline

-34.66%

-32.68%

-1.98%

Max Drawdown (1Y)

Largest decline over 1 year

-8.85%

-16.63%

+7.78%

Max Drawdown (3Y)

Largest decline over 3 years

-19.06%

-23.22%

+4.16%

Max Drawdown (5Y)

Largest decline over 5 years

-25.12%

-32.68%

+7.56%

Max Drawdown (10Y)

Largest decline over 10 years

-34.66%

-32.68%

-1.98%

Current Drawdown

Current decline from peak

-1.31%

-8.44%

+7.13%

Average Drawdown

Average peak-to-trough decline

-3.88%

-4.76%

+0.88%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.06%

5.70%

-3.64%

Volatility

VONE vs. IWY - Volatility Comparison

The current volatility for Vanguard Russell 1000 ETF (VONE) is 3.39%, while iShares Russell Top 200 Growth ETF (IWY) has a volatility of 6.91%. This indicates that VONE experiences smaller price fluctuations and is considered to be less risky than IWY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VONEIWYDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.39%

6.91%

-3.52%

Volatility (6M)

Calculated over the trailing 6-month period

10.04%

14.24%

-4.20%

Volatility (1Y)

Calculated over the trailing 1-year period

12.90%

17.75%

-4.85%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.18%

21.81%

-4.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.25%

21.13%

-2.88%

VONE vs. IWY - Expense Ratio Comparison

VONE has a 0.08% expense ratio, which is lower than IWY's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VONE vs. IWY - Dividend Comparison

VONE's dividend yield for the trailing twelve months is around 1.02%, more than IWY's 0.36% yield.

PositionTTM20252024202320222021202020192018201720162015
IWY
iShares Russell Top 200 Growth ETF		0.36%0.36%0.42%0.68%0.88%0.50%0.71%1.06%1.32%1.26%1.51%1.58%
VONE
Vanguard Russell 1000 ETF		1.02%1.07%1.20%1.40%1.59%1.16%1.45%1.65%1.96%1.69%1.89%1.89%

Frequently Asked Questions

With a correlation of 0.90, VONE and IWY 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.

IWY has higher volatility (6.91%) compared to VONE (3.39%). In terms of maximum drawdown, VONE dropped -34.66% vs IWY's -32.68%.

On 10-year performance, IWY leads with 18.31% vs 14.84% for VONE. On fees, VONE is cheaper at 0.08% per year. On volatility, VONE has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, IWY has performed better with a 18.31% return vs 14.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VONE is cheaper with a 0.08% expense ratio, compared with 0.20% for IWY.

VONE has the higher dividend yield at 1.02%, compared with 0.36% for IWY.

VONE is categorized as Large Cap Blend Equities, while IWY is Large Cap Growth Equities. VONE tracks Russell 1000 Index, while IWY tracks Russell Top 200 Growth Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.08% for VONE and 0.20% for IWY.

VONE currently has the higher Sharpe Ratio (1.47 vs 0.48), 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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