IWD alternatives and similar ETFs

IWD alternatives at a glance#

Each fund below can stand in for IWD, closest first. “Same kind” funds hold the same kind of stocks through a different index. “Related” funds make a different bet that often moves the same way.

Fees come from each fund company, checked on the dates shown on each fund’s page.

How IWD and its alternatives did over the same dates#

Each row measures the alternative and IWD on the days both traded, so neither gets a head start. Correlation shows how closely their daily moves matched over about the last five years. A value of 1 means they always moved together.

Prices through October 16, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.

Each IWD alternative, compared#

VTV: Vanguard Morningstar Value ETF#

VTV also holds large US companies that look cheap compared with their earnings and assets. It tracks the Morningstar US Large Cap Value Index, while IWD tracks the Russell 1000 Value Index.

It charges 0.03% a year, about $3 on $10,000, against $18 for IWD. It held 298 stocks, against 870 for IWD.

From January 2004 to October 2026, VTV returned about 9.7% a year and IWD returned about 9.1% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the VTV fund page for its returns by year and worst drop.

SCHV: Schwab U.S. Large-Cap Value ETF#

SCHV also holds large US companies that look cheap compared with their earnings and assets. It tracks the Dow Jones U.S. Large-Cap Value Total Stock Market Index, while IWD tracks the Russell 1000 Value Index.

It charges 0.04% a year, about $4 on $10,000, against $18 for IWD. It held 555 stocks, against 870 for IWD.

From December 2009 to October 2026, SCHV returned about 11.5% a year and IWD returned about 11.7% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the SCHV fund page for its returns by year and worst drop.

IVE: iShares S&P 500 Value ETF#

IVE also holds large US companies that look cheap compared with their earnings and assets. It tracks the S&P 500 Value Index, while IWD tracks the Russell 1000 Value Index.

It charges 0.18% a year, about $18 on $10,000, against $18 for IWD. It held 436 stocks, against 870 for IWD.

From May 2000 to October 2026, IVE returned about 7.7% a year and IWD returned about 8.3% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

Read the IVE fund page for its returns by year and worst drop.

SPYV: State Street SPDR Portfolio S&P 500 Value ETF#

SPYV also holds large US companies that look cheap compared with their earnings and assets. It tracks the S&P 500 Value Index, while IWD tracks the Russell 1000 Value Index.

It charges 0.04% a year, about $4 on $10,000, against $18 for IWD. It held 435 stocks, against 870 for IWD.

From October 2000 to October 2026, SPYV returned about 7.9% a year and IWD returned about 8.2% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the SPYV fund page for its returns by year and worst drop.

VYM: Vanguard High Dividend Yield ETF#

VYM is a looser match. It holds US companies that pay high or steady dividends, while IWD holds large US companies that look cheap compared with their earnings and assets.

It charges 0.04% a year, about $4 on $10,000, against $18 for IWD. It held 593 stocks, against 870 for IWD.

From November 2006 to October 2026, VYM returned about 9.3% a year and IWD returned about 8.4% a year. Over about the last five years they moved almost exactly together (correlation 0.97).

Read the VYM fund page for its returns by year and worst drop.

SCHD: Schwab U.S. Dividend Equity ETF#

SCHD is a looser match. It holds US companies that pay high or steady dividends, while IWD holds large US companies that look cheap compared with their earnings and assets.

It charges 0.06% a year, about $6 on $10,000, against $18 for IWD. It held 98 stocks, against 870 for IWD.

From October 2011 to October 2026, SCHD returned about 13.5% a year and IWD returned about 12.5% a year. Over about the last five years they moved together on most days (correlation 0.91).

Read the SCHD fund page for its returns by year and worst drop.

SPYD: State Street SPDR Portfolio S&P 500 High Dividend ETF#

SPYD is a looser match. It holds US companies that pay high or steady dividends, while IWD holds large US companies that look cheap compared with their earnings and assets.

It charges 0.07% a year, about $7 on $10,000, against $18 for IWD. It held 78 stocks, against 870 for IWD.

From October 2015 to October 2026, SPYD returned about 8.9% a year and IWD returned about 11.3% a year. Over about the last five years they moved together on most days (correlation 0.88).

Read the SPYD fund page for its returns by year and worst drop.

HDV: iShares Core High Dividend ETF#

HDV is a looser match. It holds US companies that pay high or steady dividends, while IWD holds large US companies that look cheap compared with their earnings and assets.

It charges 0.08% a year, about $8 on $10,000, against $18 for IWD. It held 74 stocks, against 870 for IWD.

From March 2011 to October 2026, HDV returned about 11.0% a year and IWD returned about 11.2% a year. Over about the last five years they often moved together, but not always (correlation 0.80).

Read the HDV fund page for its returns by year and worst drop.

IWD versions from other fund companies#

Some people keep all their funds with one company. Here is the closest fund to IWD from each other company on this page:

• Vanguard: VTV, Vanguard Morningstar Value ETF (same kind of fund, 0.03% a year)
• Schwab: SCHV, Schwab U.S. Large-Cap Value ETF (same kind of fund, 0.04% a year)
• SPDR (State Street): SPYV, State Street SPDR Portfolio S&P 500 Value ETF (same kind of fund, 0.04% a year)

Most brokers let you buy any ETF, whoever runs it. Mutual fund versions, such as a fund company’s index mutual fund, are not listed here.

How to choose between IWD and its alternatives#

• What it tracks. A fund on the same index holds the same stocks. A different index can mean different weights, more or fewer holdings, or a different mix.
• The fee. The difference is often small. On $10,000, IWD costs about $18 a year. VTV costs about $3.
• History. An older fund has been through more bad markets, so you can see how far it fell.
• What you already own. Two funds that move together add little variety. A fund with a low correlation behaves more on its own.

Swapping IWD to harvest a tax loss#

Some investors sell a fund at a loss to lower their taxes, then buy a similar fund so they stay invested. This is called tax-loss harvesting.

The IRS wash sale rule blocks the loss if you buy a “substantially identical” security within 30 days before or after the sale. The IRS has not said exactly when two funds count. Funds on the same index are more likely to. Funds on a different index, such as VTV, SCHV or IVE, are less likely to.

Ask a tax professional before you rely on this. Read the IRS rules in Publication 550.

Test IWD and its alternatives in a backtest#

Tactfolio is a platform where you build rules-based investing strategies, backtest them on decades of real prices, share them, and run them automatically in your own Alpaca account. Open the builder, add IWD and VTV, and see how each would have done on the same dates, or how a mix of both would have done.

The details#

Alternatives are picked from facts, not from returns. First come funds that track the same index as IWD. Then come funds that hold the same kind of stocks through another index. Last come funds from a close category that make a different bet. Leveraged funds are only listed as alternatives to other leveraged funds.

Within each group, the funds whose daily returns moved most like IWD over about the last five years come first. Returns and worst drops use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. Each alternative is measured with IWD only on days both traded. Read what a backtest simulates for more on these measures.