VTWG vs. IWF

Last updated Aug 4, 2026

VTWG (Vanguard Russell 2000 Growth ETF) and IWF (iShares Russell 1000 Growth ETF) are both exchange-traded funds - VTWG is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index, while IWF is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 10 years, VTWG returned 10.77%/yr vs 17.44%/yr for IWF. Their 0.79 correlation means they have sometimes moved together and sometimes differently. VTWG charges 0.06%/yr vs 0.18%/yr for IWF.

Performance

VTWG vs. IWF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Russell 2000 Growth ETF (VTWG) and iShares Russell 1000 Growth ETF (IWF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTWG achieves a 17.46% return, which is significantly higher than IWF's 2.33% return. Over the past 10 years, VTWG has underperformed IWF with an annualized return of 10.77%, while IWF has yielded a comparatively higher 17.44% annualized return.

VTWG

• 1D: 2.10%
• 1M: -2.12%
• 6M: 11.88%
• YTD: 17.46%
• 1Y: 33.76%
• 3Y*: 16.31%
• 5Y*: 5.73%
• 10Y*: 10.77%
• ALL TIME*: 11.91%

IWF

• 1D: 2.16%
• 1M: -0.24%
• 6M: 3.60%
• YTD: 2.33%
• 1Y: 12.35%
• 3Y*: 21.10%
• 5Y*: 12.02%
• 10Y*: 17.44%
• ALL TIME*: 8.31%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IWF iShares Russell 1000 Growth ETF	$458.24M	$549.09M	$635.49M
VTWG Vanguard Russell 2000 Growth ETF	$5.94M	$5.47M	$5.78M

VTWG vs. IWF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VTWG Vanguard Russell 2000 Growth ETF	17.46%	13.07%	15.15%	18.90%	-26.49%	2.84%	34.72%	28.75%	-9.45%	22.27%
IWF iShares Russell 1000 Growth ETF	2.33%	18.33%	33.12%	42.59%	-29.31%	27.43%	38.25%	35.86%	-1.67%	29.95%

Correlation

The correlation between VTWG and IWF is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.69
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.76
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.79

The correlation between VTWG and IWF shifts across timeframes, from 0.69 (3 years) to 0.79 (all time), reflecting how their relationship changes across market environments.

VTWG vs. IWF - Sectors Allocation Comparison

Sectors	VTWG	IWF
Healthcare	28.8%	5.4%
Technology	22.1%	54.2%
Industrials	15.9%	9.0%
Consumer Cyclical	8.1%	8.3%
Financial Services	8.1%	4.3%
Basic Materials	5.0%	0.3%
Energy	4.8%	0.5%
Real Estate	2.5%	0.4%
Consumer Defensive	2.3%	1.2%
Communication Services	1.9%	16.2%
Utilities	0.6%	0.3%

Return for Risk

VTWG vs. IWF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

VTWG

VTWG Risk / Return Rank: 61
VTWG Sharpe Ratio Rank: 63
VTWG Sortino Ratio Rank: 62
VTWG Omega Ratio Rank: 55
VTWG Calmar Ratio Rank: 63
VTWG Martin Ratio Rank: 63

IWF

IWF Risk / Return Rank: 28
IWF Sharpe Ratio Rank: 30
IWF Sortino Ratio Rank: 29
IWF Omega Ratio Rank: 28
IWF Calmar Ratio Rank: 25
IWF Martin Ratio Rank: 27

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.

VTWG vs. IWF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Russell 2000 Growth ETF (VTWG) and iShares Russell 1000 Growth ETF (IWF). 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.

	VTWG	IWF	Difference
Sharpe ratio: Return per unit of total volatility	1.50	0.71	+0.79
Sortino ratio: Return per unit of downside risk	2.14	1.08	+1.05
Omega ratio: Gain probability vs. loss probability	1.25	1.13	+0.12
Calmar ratio: Return relative to maximum drawdown	2.28	0.76	+1.52
Martin ratio: Return relative to average drawdown	7.86	2.27	+5.60

VTWG vs. IWF - Sharpe Ratio Comparison

The current VTWG Sharpe Ratio is 1.50, which is higher than the IWF Sharpe Ratio of 0.71. The chart below compares the historical Sharpe Ratios of VTWG and IWF, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VTWG vs. IWF - Drawdown Comparison

The maximum VTWG drawdown since its inception was -42.07%, smaller than the maximum IWF drawdown of -64.25%. Use the drawdown chart below to compare losses from any high point for VTWG and IWF.

Drawdown Indicators

	VTWG	IWF	Difference
Max Drawdown Largest peak-to-trough decline	-42.07%	-64.25%	+22.18%
Max Drawdown (1Y) Largest decline over 1 year	-14.88%	-16.27%	+1.39%
Max Drawdown (3Y) Largest decline over 3 years	-28.58%	-23.36%	-5.22%
Max Drawdown (5Y) Largest decline over 5 years	-40.49%	-32.72%	-7.77%
Max Drawdown (10Y) Largest decline over 10 years	-42.07%	-32.72%	-9.35%
Current Drawdown Current decline from peak	-3.93%	-6.05%	+2.12%
Average Drawdown Average peak-to-trough decline	-10.45%	-21.98%	+11.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.30%	5.46%	-1.16%

Volatility

VTWG vs. IWF - Volatility Comparison

The current volatility for Vanguard Russell 2000 Growth ETF (VTWG) is 6.26%, while iShares Russell 1000 Growth ETF (IWF) has a volatility of 6.73%. This indicates that VTWG experiences smaller price fluctuations and is considered to be less risky than IWF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTWG	IWF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.26%	6.73%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	17.30%	14.19%	+3.11%
Volatility (1Y) Calculated over the trailing 1-year period	22.62%	17.54%	+5.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.67%	21.73%	+2.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.28%	21.12%	+3.16%

VTWG vs. IWF - Expense Ratio Comparison

VTWG has a 0.06% expense ratio, which is lower than IWF's 0.18% 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

VTWG vs. IWF - Dividend Comparison

VTWG's dividend yield for the trailing twelve months is around 0.60%, more than IWF's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWF iShares Russell 1000 Growth ETF	0.36%	0.36%	0.46%	0.67%	0.91%	0.49%	0.66%	0.99%	1.27%	1.10%	1.43%	1.37%
VTWG Vanguard Russell 2000 Growth ETF	0.60%	0.64%	0.55%	0.79%	0.71%	0.54%	0.48%	0.72%	0.72%	0.64%	0.96%	0.72%

Frequently Asked Questions

Can I hold both VTWG and IWF in my portfolio?

VTWG and IWF have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTWG or IWF?

IWF has higher volatility (6.73%) compared to VTWG (6.26%). In terms of maximum drawdown, VTWG dropped -42.07% vs IWF's -64.25%.

Which ETF is better, VTWG or IWF?

On 10-year performance, IWF leads with 17.44% vs 10.77% for VTWG. On fees, VTWG is cheaper at 0.06% per year. On volatility, VTWG has been the lower-risk option at 6.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTWG or IWF?

Over the 10-year period, IWF has performed better with a 17.44% return vs 10.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTWG or IWF?

VTWG is cheaper with a 0.06% expense ratio, compared with 0.18% for IWF.

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

VTWG has the higher dividend yield at 0.60%, compared with 0.36% for IWF.

What is the main difference between VTWG and IWF?

VTWG is categorized as Small Cap Growth Equities, while IWF is Large Cap Growth Equities. VTWG tracks Russell 2000 Growth Index, while IWF tracks Russell 1000 Growth Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.06% for VTWG and 0.18% for IWF.

Which has better risk-adjusted returns?

VTWG currently has the higher Sharpe Ratio (1.50 vs 0.71), 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.