Dividend comparison
VUG vs IWF: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Morningstar Growth ETF and iShares Russell 1000 Growth ETF, side by side. Updated October 21, 2026.
VUG vs IWF: key differences
The short answer, from the latest data on this page.
- Fees. VUG is cheaper at 0.03% a year versus 0.18% for IWF. On $10,000 that is $15 a year less in fees.
- Income. Their trailing yields are almost the same: 0.39% for VUG and 0.35% for IWF. Both pay quarterly.
- Performance. Over the last 5 years, VUG returned 78.4% versus 73.9% for IWF, with dividends reinvested. $10,000 would have grown to $17,845 in VUG and $17,388 in IWF.
- Risk. VUG has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -35.6%, against -32.7% for IWF.
- Diversification. IWF holds 372 positions and VUG holds 166. The ten largest positions make up 63.1% of VUG and 57.8% of IWF.
- Overlap. 76% of the two portfolios overlap by weight, across 71 shared holdings. Owning both adds little diversification.
- Dividend growth. VUG grew its yearly payout 6.9% a year over the last 4 years, versus 2.9% for IWF.
- Size. VUG is the larger fund with $392.2 billion in assets, against $125.0 billion for IWF.
Bottom line: VUG fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. IWF fits better if you care most about broader diversification. With 76% overlap, most investors would hold one or the other rather than both.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | VUG Vanguard Morningstar Growth ETF | IWF iShares Russell 1000 Growth ETF |
|---|---|---|
| Dividend yield (TTM) | 0.39% | 0.35% |
| Dividend / share (TTM) | $0.35 | $0.43 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.0910 on Sep 30, 2026 | $0.1089 on Sep 18, 2026 |
| Ex-dividend date | Sep 28, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 6.9% over 4 yrs | 2.9% over 4 yrs |
| Price | $88.67 | $122.41 |
| Dividend growth streak | 3 years | — |
| Beta | 1.27 | 1.17 |
| Max drawdown (5Y) | -35.6% | -32.7% |
| Market cap | $392.24B | $124.78B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.18% |
| Assets under management | $392.20B | $125.03B |
| Number of holdings | 166 | 372 |
| Top 10 concentration | 63.1% | 57.8% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
VUG
$3.25/mo
$39 /yr at 0.39% yield
IWF
$2.94/mo
$35 /yr at 0.35% yield
Dividend history
Total dividends paid per share in each calendar year. VUG pays quarterly; IWF pays quarterly.
| Year | VUG | IWF |
|---|---|---|
| 2025 | $0.3351 | $0.4239 |
| 2024 | $0.3188 | $0.4596 |
| 2023 | $0.3003 | $0.5067 |
| 2022 | $0.2499 | $0.4873 |
| 2021 | $0.2567 | $0.3781 |
Strategy: Large-cap growth
Funds that hold the faster-growing half of the large-cap market, selected by measures like earnings growth, sales growth and price momentum. In practice that means heavy weights in technology and communication companies, with the largest few names often making up a third of the fund or more. Dividends are small because growth companies reinvest their cash instead of paying it out.
Concentration in a handful of mega-cap stocks makes these funds swing harder than the broad market in both directions, and they offer little current income.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $17,845 in VUG and $17,388 in IWF.
| Period | VUG | IWF |
|---|---|---|
| 1 month | 0.01% | -0.68% |
| 3 months | 4.01% | 2.56% |
| Year to date | 9.40% | 3.73% |
| 1 year | 10.23% | 3.98% |
| 3 years | 99.93% | 87.49% |
| 5 years | 78.45% | 73.88% |
- VUG
- IWF
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.
- VUG
- IWF
VUG vs IWF holdings overlap
76% overlap by weight, with 71 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 holdings | VUG weight | IWF weight |
|---|---|---|
| NVDANVIDIA Corp | 13.48% | 15.20% |
| AAPLApple Inc | 12.50% | 8.06% |
| MSFTMicrosoft Corp | 9.74% | 5.95% |
| GOOGLAlphabet Inc | 5.16% | 6.02% |
| AVGOBroadcom Inc | 4.34% | 4.67% |
| GOOGAlphabet Inc | 4.09% | 4.86% |
| METAMeta Platforms Inc | 4.23% | 3.81% |
| TSLATesla Inc | 2.65% | 3.23% |
| AMDAdvanced Micro Devices Inc | 2.66% | 2.63% |
| LLYEli Lilly & Co | 2.60% | 2.97% |
Top 10 holdings
Largest positions by portfolio weight.
VUG166 holdings total
Quick verdict
VUG fits better if you care most about lower fees, stronger 5-year returns and faster dividend growth. IWF fits better if you care most about broader diversification. With 76% overlap, most investors would hold one or the other rather than both. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is VUG or IWF better for dividend income?
It depends on your goals. VUG currently yields 0.39% Trailing Twelve Months (TTM) while IWF yields 0.35%. 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 VUG and IWF?
Vanguard Morningstar Growth ETF (VUG) is an ETF listed on AMEX. iShares Russell 1000 Growth ETF (IWF) 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, VUG or IWF?
VUG has the lower expense ratio. VUG charges 0.03% a year and IWF charges 0.18%, a difference of $15 a year on a $10,000 investment.
Which has performed better, VUG or IWF?
Over the last 5 years, VUG has the higher total return with dividends reinvested: VUG returned 78.4% and IWF returned 73.9%. Past performance does not predict future returns.
Which is riskier, VUG or IWF?
Measured by the worst peak-to-trough decline over the last five years, VUG has been riskier: VUG fell as much as 35.6% and IWF as much as 32.7%. Their betas are 1.27 and 1.17.
How much do VUG and IWF overlap?
About 76% of the two portfolios overlap by weight, across 71 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both adds little diversification.
How often do VUG and IWF pay dividends?
Both pay quarterly. The most recent payments were $0.0910 for VUG and $0.1089 for IWF.
How much income does $10,000 in VUG vs IWF generate?
At current TTM yields, $10,000 in VUG would generate roughly $3.25 per month ($39 annually). The same amount in IWF would produce about $2.94 per month ($35 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VUG and IWF?
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 VUG vs IWF with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VUG and IWF 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.