Dividend comparison

IWY vs VOO: Which Is Better?

Fees, yield, total returns, drawdowns, holdings overlap and dividend history for iShares Russell Top 200 Growth ETF and Vanguard S&P 500 ETF, side by side. Updated October 21, 2026.

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IWY vs VOO: key differences
The short answer, from the latest data on this page.
  • Fees. VOO is cheaper at 0.03% a year versus 0.20% for IWY. On $10,000 that is $17 a year less in fees.
  • Income. VOO pays more income, yielding 1.05% over the last twelve months versus 0.34% for IWY. That is about $71 more a year on $10,000. Both pay quarterly.
  • Performance. Over the last 5 years, IWY returned 83.2% versus 81.8% for VOO, with dividends reinvested. $10,000 would have grown to $18,316 in IWY and $18,178 in VOO.
  • Risk. IWY has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -32.7%, against -24.5% for VOO.
  • Diversification. VOO holds 505 positions and IWY holds 101. The ten largest positions make up 60.9% of IWY and 39.1% of VOO.
  • Overlap. At least 52% of the two portfolios overlap by weight, across 54 shared holdings.
  • Dividend growth. VOO grew its yearly payout 6.8% a year over the last 4 years, versus 3.5% for IWY.
  • Size. VOO is the larger fund with $1.7 trillion in assets, against $16.2 billion for IWY.

Bottom line: VOO has the edge on these figures, with lower fees, more income today, smaller drawdowns, faster dividend growth and broader diversification. IWY does not lead on any of the measures compared here.

Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
MetricIWY
iShares Russell Top 200 Growth ETF
VOO
Vanguard S&P 500 ETF
Dividend yield (TTM)0.34%1.05%
Dividend / share (TTM)$0.97$7.43
Payout frequencyQuarterlyQuarterly
Last dividend$0.2310 on Sep 18, 2026$1.8226 on Sep 30, 2026
Ex-dividend dateSep 15, 2026Sep 28, 2026
Dividend growth (CAGR)3.5% over 4 yrs6.8% over 4 yrs
Price$287.93$706.80
Dividend growth streak1 year5 years
Beta1.171.01
Max drawdown (5Y)-32.7%-24.5%
Market cap$16.10B$1.70T
ExchangeAMEXAMEX
Expense ratio0.20%0.03%
Assets under management$16.23B$1.70T
Number of holdings101505
Top 10 concentration60.9%39.1%
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.

IWY

$2.81/mo

$34 /yr at 0.34% yield

VOO

$8.76/mo

$105 /yr at 1.05% yield

Dividend history
Total dividends paid per share in each calendar year. IWY pays quarterly; VOO pays quarterly.
YearIWYVOO
2025$1.0051$7.0678
2024$0.9968$6.7035
2023$1.1862$6.3572
2022$1.0596$5.9467
2021$0.8742$5.4367
Strategy: Broad index
Low-cost funds that hold an entire market or index at market-cap weights and make no attempt to select securities. Return is the index return less a small fee, and dividends are a by-product of what the underlying companies choose to pay rather than an objective of the strategy. Differences between funds tracking the same index usually come down to fee, wrapper structure, share price and trading liquidity, not to holdings.

Current income is low and outside your control, so these need pairing with something else if the portfolio has to produce cash today.

What IWY vs VOO actually do

VOO
Vanguard's S&P 500 tracker, holding the 500 large-cap US companies in the index at their market-cap weights.

It replicates the index in full and makes no attempt to pick winners, so its return is the index return less a very small fee. As an open-end fund it can lend securities and put incoming dividends back to work inside the portfolio between the quarterly payment dates. Dividends are whatever the underlying companies happen to pay, which means yield is an output of the strategy and never a target of it.

Suits almost any long-horizon US equity allocation, including as the growth engine sitting behind higher-yielding income positions. Not a fit for someone whose portfolio needs to produce meaningful current cash flow.

Core holding

Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $18,316 in IWY and $18,178 in VOO.
PeriodIWYVOO
1 month-0.57%0.97%
3 months3.03%3.87%
Year to date3.97%13.68%
1 year4.31%15.84%
3 years89.48%89.23%
5 years83.16%81.78%
  • IWY
  • VOO
66133199202120222023202420252026183182

Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.

Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
  • IWY
  • VOO
0%14%29%43%57%Technology57.1%40.5%Information Technology55.8%Communication Services16.6%9.9%Communication17.2%Consumer Cyclical8.1%8.8%Financial Services5.1%11.1%Industrials6.7%7.5%Healthcare4.8%9.3%Consumer Discretionary7.8%Consumer Defensive1.2%4.3%Other12.6%8.6%
IWY vs VOO holdings overlap
At least 52% overlap by weight, with 54 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
Largest shared holdingsIWY weightVOO weight
NVDANVIDIA15.02%8.39%
AAPLAPPLE8.32%7.38%
MSFTMICROSOFT6.34%5.78%
GOOGLALPHABET CLASS A6.07%3.07%
AVGOBROADCOM INC5.08%2.54%
GOOGALPHABET CLASS C4.89%2.45%
METAMETA PLATFORMS CLASS A4.35%2.43%
MUMICRON TECHNOLOGY3.54%1.83%
TSLATESLA INC3.78%1.52%
AMDADVANCED MICRO DEVICES3.10%1.52%
Top 10 holdings
Largest positions by portfolio weight.

IWY101 holdings total

NameWeight
NVDANVIDIA15.02%
AAPLAPPLE8.32%
MSFTMICROSOFT6.34%
GOOGLALPHABET CLASS A6.07%
AVGOBROADCOM INC5.08%
GOOGALPHABET CLASS C4.89%
METAMETA PLATFORMS CLASS A4.35%
TSLATESLA INC3.78%
LLYELI LILLY3.55%
MUMICRON TECHNOLOGY3.54%

VOO505 holdings total

NameWeight
NVDANVIDIA Corp8.39%
AAPLApple Inc7.38%
MSFTMicrosoft Corp5.78%
AMZNAmazon.com Inc3.71%
GOOGLAlphabet Inc3.07%
AVGOBroadcom Inc2.54%
GOOGAlphabet Inc2.45%
METAMeta Platforms Inc2.43%
MUMicron Technology Inc1.83%
TSLATesla Inc1.52%

Quick verdict

VOO has the edge on these figures, with lower fees, more income today, smaller drawdowns, faster dividend growth and broader diversification. IWY does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.

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Frequently asked questions

Is IWY or VOO better for dividend income?
It depends on your goals. IWY currently yields 0.34% Trailing Twelve Months (TTM) while VOO yields 1.05%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between IWY and VOO?
iShares Russell Top 200 Growth ETF (IWY) is an ETF listed on AMEX. Vanguard S&P 500 ETF (VOO) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, IWY or VOO?
VOO has the lower expense ratio. IWY charges 0.20% a year and VOO charges 0.03%, a difference of $17 a year on a $10,000 investment.
Which has performed better, IWY or VOO?
Over the last 5 years, IWY has the higher total return with dividends reinvested: IWY returned 83.2% and VOO returned 81.8%. Past performance does not predict future returns.
Which is riskier, IWY or VOO?
Measured by the worst peak-to-trough decline over the last five years, IWY has been riskier: IWY fell as much as 32.7% and VOO as much as 24.5%. Their betas are 1.17 and 1.01.
How much do IWY and VOO overlap?
At least 52% of the two portfolios overlap by weight, across 54 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both still adds meaningful diversification.
How often do IWY and VOO pay dividends?
Both pay quarterly. The most recent payments were $0.2310 for IWY and $1.8226 for VOO.
How much income does $10,000 in IWY vs VOO generate?
At current TTM yields, $10,000 in IWY would generate roughly $2.81 per month ($34 annually). The same amount in VOO would produce about $8.76 per month ($105 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both IWY and VOO?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare IWY vs VOO with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how IWY and VOO fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.

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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.