Dividend comparison
VUG vs IWY: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for Vanguard Morningstar Growth ETF and iShares Russell Top 200 Growth ETF, side by side. Updated October 21, 2026.
VUG vs IWY: key differences
The short answer, from the latest data on this page.
- Fees. VUG is cheaper at 0.03% a year versus 0.20% for IWY. On $10,000 that is $17 a year less in fees.
- Income. Their trailing yields are almost the same: 0.39% for VUG and 0.34% for IWY. Both pay quarterly.
- Performance. Over the last 5 years, IWY returned 83.2% versus 78.4% for VUG, with dividends reinvested. $10,000 would have grown to $18,316 in IWY and $17,845 in VUG.
- 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 IWY.
- Diversification. VUG holds 166 positions and IWY holds 101. The ten largest positions make up 63.1% of VUG and 60.9% of IWY.
- Overlap. 77% of the two portfolios overlap by weight, across 64 shared holdings. Owning both adds little diversification.
- Dividend growth. VUG grew its yearly payout 6.9% a year over the last 4 years, versus 3.5% for IWY.
- Size. VUG is the larger fund with $392.2 billion in assets, against $16.2 billion for IWY.
Bottom line: VUG fits better if you care most about lower fees, faster dividend growth and broader diversification. IWY fits better if you care most about stronger 5-year returns. With 77% 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 | IWY iShares Russell Top 200 Growth ETF |
|---|---|---|
| Dividend yield (TTM) | 0.39% | 0.34% |
| Dividend / share (TTM) | $0.35 | $0.97 |
| Payout frequency | Quarterly | Quarterly |
| Last dividend | $0.0910 on Sep 30, 2026 | $0.2310 on Sep 18, 2026 |
| Ex-dividend date | Sep 28, 2026 | Sep 15, 2026 |
| Dividend growth (CAGR) | 6.9% over 4 yrs | 3.5% over 4 yrs |
| Price | $88.67 | $287.93 |
| Dividend growth streak | 3 years | 1 year |
| Beta | 1.27 | 1.17 |
| Max drawdown (5Y) | -35.6% | -32.7% |
| Market cap | $392.24B | $16.10B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.03% | 0.20% |
| Assets under management | $392.20B | $16.23B |
| Number of holdings | 166 | 101 |
| Top 10 concentration | 63.1% | 60.9% |
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
IWY
$2.81/mo
$34 /yr at 0.34% yield
Dividend history
Total dividends paid per share in each calendar year. VUG pays quarterly; IWY pays quarterly.
| Year | VUG | IWY |
|---|---|---|
| 2025 | $0.3351 | $1.0051 |
| 2024 | $0.3188 | $0.9968 |
| 2023 | $0.3003 | $1.1862 |
| 2022 | $0.2499 | $1.0596 |
| 2021 | $0.2567 | $0.8742 |
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 $18,316 in IWY.
| Period | VUG | IWY |
|---|---|---|
| 1 month | 0.01% | -0.57% |
| 3 months | 4.01% | 3.03% |
| Year to date | 9.40% | 3.97% |
| 1 year | 10.23% | 4.31% |
| 3 years | 99.93% | 89.48% |
| 5 years | 78.45% | 83.16% |
- VUG
- IWY
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
- IWY
VUG vs IWY holdings overlap
77% overlap by weight, with 64 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 | IWY weight |
|---|---|---|
| NVDANVIDIA Corp | 13.48% | 15.02% |
| AAPLApple Inc | 12.50% | 8.32% |
| MSFTMicrosoft Corp | 9.74% | 6.34% |
| GOOGLAlphabet Inc | 5.16% | 6.07% |
| AVGOBroadcom Inc | 4.34% | 5.08% |
| METAMeta Platforms Inc | 4.23% | 4.35% |
| GOOGAlphabet Inc | 4.09% | 4.89% |
| AMDAdvanced Micro Devices Inc | 2.66% | 3.10% |
| TSLATesla Inc | 2.65% | 3.78% |
| LLYEli Lilly & Co | 2.60% | 3.55% |
Top 10 holdings
Largest positions by portfolio weight.
VUG166 holdings total
Quick verdict
VUG fits better if you care most about lower fees, faster dividend growth and broader diversification. IWY fits better if you care most about stronger 5-year returns. With 77% 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 IWY better for dividend income?
It depends on your goals. VUG currently yields 0.39% Trailing Twelve Months (TTM) while IWY yields 0.34%. 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 IWY?
Vanguard Morningstar Growth ETF (VUG) is an ETF listed on AMEX. iShares Russell Top 200 Growth ETF (IWY) 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 IWY?
VUG has the lower expense ratio. VUG charges 0.03% a year and IWY charges 0.20%, a difference of $17 a year on a $10,000 investment.
Which has performed better, VUG or IWY?
Over the last 5 years, IWY has the higher total return with dividends reinvested: VUG returned 78.4% and IWY returned 83.2%. Past performance does not predict future returns.
Which is riskier, VUG or IWY?
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 IWY as much as 32.7%. Their betas are 1.27 and 1.17.
How much do VUG and IWY overlap?
About 77% of the two portfolios overlap by weight, across 64 shared holdings. The largest shared positions are NVDA, AAPL, MSFT. Holding both adds little diversification.
How often do VUG and IWY pay dividends?
Both pay quarterly. The most recent payments were $0.0910 for VUG and $0.2310 for IWY.
How much income does $10,000 in VUG vs IWY generate?
At current TTM yields, $10,000 in VUG would generate roughly $3.25 per month ($39 annually). The same amount in IWY would produce about $2.81 per month ($34 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both VUG and IWY?
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 IWY with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how VUG and IWY 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.