IWP vs QQQ
iShares Russell Midcap Growth ETF vs Invesco QQQ Trust, Series 1
Which is better, IWP or QQQ?
Mid Cap Growth against Large Cap Growth.
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. IWP is less concentrated, with 20.3% of the fund in its ten largest positions against 46.5%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | IWP | QQQ |
|---|---|---|
| Expense Ratio | 0.23% | 0.18%Best |
| AUM | $19.4B | $483.5B |
| Dividend Yield | 0.35% | 0.44% |
| Holdings | 271 | 107 |
| YTD Return | +0.00% | +16.87%Best |
| 1Y Return | -4.85% | +22.98%Best |
| 3Y Return (annualized) | +13.78% | +24.98%Best |
| 5Y Return (annualized) | +3.95% | +14.39%Best |
| Volatility (annualized) | 18.4%Best | 20.2% |
| Max Drawdown | -57.3% | -54.3%Best |
| $10,000 over 5 years | $12,137 | $19,586Best |
| Top 10 Weight | 20.3%Best | 46.5% |
| Fund Family | iShares by BlackRock (US) | Invesco (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Large Cap Growth |
| Inception | Jul 17, 2001 | Mar 10, 1999 |
Volatility and max drawdown are measured over the window both funds cover: Aug 1, 2001 to Sep 11, 2026 (25.1 years).
IWP vs QQQ growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 25.1 years both funds cover.
IWP vs QQQ Performance
iShares Russell Midcap Growth ETF (IWP) is an ETF from iShares by BlackRock (US) and Invesco QQQ Trust, Series 1 (QQQ) is an ETF from Invesco (US). Over the past year IWP returned -4.85% while QQQ returned +22.98%. Year to date, IWP is up 0.00% versus a gain of 16.87% for QQQ.
Over three years, IWP compounded at +13.78% per year against +24.98% for QQQ; over five years the annualized figures are +3.95% and +14.39% respectively. Across the full 25-year window we track, QQQ has the edge at +11.98% annualized vs +8.45%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 20.2% compared with 18.4% for IWP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -57.3% for IWP and -54.3% for QQQ. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
IWP charges 0.23% per year while QQQ charges 0.18%. On a $10,000 position that is $23 vs $18 annually, a gap of $5 per year that compounds over a long holding period. On income, IWP currently yields 0.35% against 0.44% for QQQ.
Holdings Overlap
19.1% of IWP's money is in holdings QQQ also owns. 3.5% of QQQ's money is in holdings IWP also owns.
IWP and QQQ share little of their money.
16 positions in common, counted across the 265 positions we hold weights for in IWP and 102 in QQQ, against full books of 271 and 107.
What only one of them owns
Our book lists 79 positions for QQQ that do not appear in our book for IWP (93.6% of the fund), and 235 for IWP that do not appear in QQQ (77.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IWP | Weight in QQQ | Difference |
|---|---|---|---|
| DDOGDatadog Inc. Class A | 2.63% | 0.41% | 2.22% |
| TERTeradyne Inc | 1.72% | 0.27% | 1.45% |
| LITELumentum Holdings Inc | 1.66% | 0.28% | 1.38% |
| ADSKAutodesk, Inc. | 1.43% | 0.22% | 1.21% |
| ALABAstera Labs | 1.38% | 0.24% | 1.14% |
| FASTFastenal Co. | 1.33% | 0.25% | 1.08% |
| AXONAxon Enterprise Inc | 1.33% | 0.22% | 1.11% |
| TTWOTake-Two Interactive Software, Inc. | 1.22% | 0.19% | 1.03% |
| MCHPMicrochip Technology Inc. | 1.17% | 0.19% | 0.98% |
| RKLBRocket Lab Corporation | 1.13% | 0.19% | 0.94% |
You are not choosing between two funds in isolation.
Whichever of IWP and QQQ you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IWP or QQQ?
IWP has an expense ratio of 0.23% while QQQ charges 0.18%. QQQ is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, IWP or QQQ?
Over the past year IWP returned -4.85% vs +22.98% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (25 years), IWP annualized +8.45% vs +11.98% for QQQ. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IWP or QQQ?
QQQ has been the more volatile fund at 20.2% annualized versus 18.4% for IWP. Worst drawdown: IWP -57.3% vs QQQ -54.3%.
Should I hold both IWP and QQQ?
IWP and QQQ have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between IWP and QQQ?
19.1% of IWP's money is in holdings QQQ also owns. 3.5% of QQQ's is in holdings IWP also owns. They hold 16 positions in common, counted across the 265 positions we hold weights for in IWP and 102 in QQQ.
Which pays a higher dividend, IWP or QQQ?
IWP yields 0.35% while QQQ yields 0.44%, so QQQ currently pays the higher dividend yield.
Is QQQ better than IWP?
QQQ has a lower expense ratio. QQQ led over 1Y, 3Y, 5Y and the full window. IWP is less concentrated, with 20.3% of the fund in its ten largest positions against 46.5%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.