IWF alternatives and similar ETFs

IWF alternatives at a glance#

Each fund below can stand in for IWF, closest first. “Same index” funds hold the same stocks as IWF. “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 IWF and its alternatives did over the same dates#

Each row measures the alternative and IWF 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 IWF alternative, compared#

VONG: Vanguard Russell 1000 Growth ETF#

VONG tracks the same Russell 1000 Growth Index as IWF, so the two hold the same stocks. The main differences are the fee and the fund company.

It charges 0.06% a year, about $6 on $10,000, against $18 for IWF. It held 371 stocks, against 372 for IWF.

From September 2010 to October 2026, VONG returned about 16.4% a year and IWF returned about 16.3% a year. Over about the last five years they moved almost exactly together (correlation 1.00).

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

VUG: Vanguard Morningstar Growth ETF#

VUG also holds large US companies whose sales and profits are growing fast. It tracks the Morningstar US Large Cap Growth Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.03% a year, about $3 on $10,000, against $18 for IWF. It held 135 stocks, against 372 for IWF.

From January 2004 to October 2026, VUG returned about 12.1% a year and IWF returned about 11.9% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

SCHG: Schwab U.S. Large-Cap Growth ETF#

SCHG also holds large US companies whose sales and profits are growing fast. It tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.04% a year, about $4 on $10,000, against $18 for IWF. It held 195 stocks, against 372 for IWF.

From January 2010 to October 2026, SCHG returned about 16.1% a year and IWF returned about 15.7% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

SPYG: State Street SPDR Portfolio S&P 500 Growth ETF#

SPYG also holds large US companies whose sales and profits are growing fast. It tracks the S&P 500 Growth Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.04% a year, about $4 on $10,000, against $18 for IWF. It held 152 stocks, against 372 for IWF.

From October 2000 to October 2026, SPYG returned about 7.5% a year and IWF returned about 8.2% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

MGK: Vanguard Morningstar Mega Cap Growth ETF#

MGK also holds large US companies whose sales and profits are growing fast. It tracks the Morningstar US Mega Cap Growth Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.05% a year, about $5 on $10,000, against $18 for IWF. It held 52 stocks, against 372 for IWF.

From December 2007 to October 2026, MGK returned about 13.5% a year and IWF returned about 12.9% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

VOOG: Vanguard S&P 500 Growth ETF#

VOOG also holds large US companies whose sales and profits are growing fast. It tracks the S&P 500 Growth Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.07% a year, about $7 on $10,000, against $18 for IWF. It held 152 stocks, against 372 for IWF.

From September 2010 to October 2026, VOOG returned about 16.6% a year and IWF returned about 16.5% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

IVW: iShares S&P 500 Growth ETF#

IVW also holds large US companies whose sales and profits are growing fast. It tracks the S&P 500 Growth Index, while IWF tracks the Russell 1000 Growth Index.

It charges 0.18% a year, about $18 on $10,000, against $18 for IWF. It held 152 stocks, against 372 for IWF.

From May 2000 to October 2026, IVW returned about 8.9% a year and IWF returned about 8.3% a year. Over about the last five years they moved almost exactly together (correlation 0.99).

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

QQQM: Invesco NASDAQ 100 ETF#

QQQM is a looser match. It holds the 100 biggest companies on the Nasdaq outside finance, many of them in technology, while IWF holds large US companies whose sales and profits are growing fast.

It charges 0.15% a year, about $15 on $10,000, against $18 for IWF.

From October 2020 to October 2026, QQQM returned about 16.5% a year and IWF returned about 14.0% a year. Over about the last five years they moved almost exactly together (correlation 0.98).

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

IWF versions from other fund companies#

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

• Vanguard: VONG, Vanguard Russell 1000 Growth ETF (same index, 0.06% a year)
• Schwab: SCHG, Schwab U.S. Large-Cap Growth ETF (same kind of fund, 0.04% a year)
• SPDR (State Street): SPYG, State Street SPDR Portfolio S&P 500 Growth ETF (same kind of fund, 0.04% a year)
• Invesco: QQQM, Invesco NASDAQ 100 ETF (related fund, 0.15% 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 IWF 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, IWF costs about $18 a year. VUG 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 IWF 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 VUG, SCHG or SPYG, are less likely to.

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

Test IWF 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 IWF and VONG, 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 IWF. 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 IWF 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 IWF only on days both traded. Read what a backtest simulates for more on these measures.