The iShares S&P 500 Growth ETF, commonly known as IVW, is a large growth ETF designed to track the S&P 500's large-cap growth segment. While the specific index tracked by IVW is not available, its fund profile highlights that it offers concentrated exposure to this particular part of the market. This focus makes it suitable for investors seeking specific growth-oriented characteristics within the S&P 500 universe.

What is the category of SPY?

The S&P 500 ETF Trust SPDR, referred to as SPY, falls under the large blend category. Unlike funds focused exclusively on growth or value, large blend ETFs aim to capture a mix of investment styles. Although SPY's specific index tracked is not available, its categorisation suggests it provides a broader representation of the market by potentially incorporating various growth and value components within its holdings.

Do IVW and SPY use the same tracking method?

The specific tracking methods for both IVW and SPY are not available in the provided information. It's unclear whether they use full replication, sampling or another approach to mirror their intended exposures. Understanding an ETF's tracking methodology is crucial for grasping how closely it follows its target index and how potential deviations might impact investor returns.

How do the expense ratios of IVW and SPY differ?

IVW has an expense ratio of 0.18%, whereas SPY's expense ratio is 0.09%. This means SPY costs 0.09 percentage points less than IVW. A lower expense ratio generally means investors keep a greater portion of their returns, especially over extended investment horizons, as annual fees directly reduce the net performance of the fund.

How similar are the top holdings of IVW and SPY?

Both IVW and SPY feature nine shared top-10 holdings: NVDA, MSFT, AAPL, GOOGL, AVGO, GOOG, META, AMZN, and MU. However, their weights differ significantly. For instance, NVDA accounts for 14.80% of IVW's portfolio but only 8.16% of SPY's. These variations highlight that while their core large-cap tech exposure is similar, their overall portfolio construction and concentration levels diverge substantially.

Which fund has a higher dividend yield, IVW or SPY?

SPY has a dividend yield of 0.98%, which is higher than IVW's 0.34%. A higher yield suggests potentially greater income generation from distributions, though it also reflects the underlying composition of holdings. For investors prioritising current income over pure capital appreciation, the yield disparity between these two large-cap ETFs can be a key differentiating factor.

What are the inception dates for IVW and SPY?

IVW was established in May 2000, while SPY launched in January 1993. This means SPY has been in existence for significantly longer than IVW. The longer operational track record of SPY might offer more extensive performance history and broader familiarity, though the inception date alone doesn't guarantee suitability for every investor's specific portfolio needs or time horizon.

Which fund has larger net assets?

SPY's net assets stand at approximately $785.0 billion, substantially exceeding IVW's $77.2 billion. A larger net asset base can often correlate with higher trading volumes and tighter bid-ask spreads, enhancing liquidity for investors looking to buy or sell. Both funds possess considerable asset bases that typically support their respective operational structures.

What are the top holdings of IVW and SPY?

Both IVW and SPY include several of the same top holdings, including NVDA, MSFT, AAPL, GOOGL, AVGO, GOOG, META, AMZN, and MU. However, they also have unique positions. For IVW, BRK.B is a notable inclusion, while TSLA appears in SPY's top ten. These distinctions reflect the underlying composition differences between their respective categories.

What is the main difference between IVW and SPY?

IVW is a large growth ETF tracking the S&P 500's growth segment, while SPY is a large blend ETF. This fundamental difference impacts their portfolio construction. IVW's growth focus leads to higher concentration in stocks like NVDA (14.80%), while SPY's blend approach potentially moderates this concentration (NVDA at 8.16%), leading to different risk-return characteristics.

How does the expense ratio difference impact long-term investment?

SPY's lower expense ratio of 0.09% versus IVW's 0.18% can lead to noticeable differences in cumulative wealth over extended periods. Fees are deducted annually from a fund's assets; thus, a fund with a higher expense ratio reduces the net returns available for compounding. For example, over many years, this seemingly small 0.09 percentage point difference can significantly affect overall portfolio growth and income.

What do the dividend yields mean for IVW and SPY?

The dividend yield of 0.34% for IVW and 0.98% for SPY represent the annual income payout as a percentage of the fund's price. These yields can be attractive to income-oriented investors, though SPY's yield is still relatively modest compared to sector-specific income funds. Investors should consider that dividend yields can fluctuate based on market price and corporate payout policies.

IVW vs SPY

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

Compare IVW (iShares S&P 500 Growth ETF) and SPY (S&P 500 ETF Trust SPDR). This page examines their expense ratios, holdings, dividend yields and tracking methods to help you understand the differences between these large-cap ETFs. Educational content, not financial advice.

Compare IVW (iShares S&P 500 Growth ETF) and SPY (S&P 500 ETF Trust SPDR). This page examines their expense ratios, holdings, dividend yields and tracking methods to help you understand the difference...

Fund Snapshot

Key Fund Metrics

IVW

Metric

SPY

0.18%

Expense Ratio

0.09%

0.34%

Dividend Yield

0.98%

$77.16B

Net Assets

$785.05B

155

Holdings

505

May 22, 2000

Inception Date

Jan 22, 1993

–

Index Tracked

–

Large Growth

Fund Category

Large Blend

SPY costs about $9.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	IVW	SPY
NVDANVIDIA Corporation	14.80%	8.16%
MSFTMicrosoft Corporation	10.09%	5.56%
AAPLApple Inc.	6.75%	7.44%
GOOGLAlphabet Inc.	5.64%	3.11%
AVGOBroadcom Inc.	4.68%	2.58%
GOOGAlphabet Inc.	4.50%	2.48%
METAMeta Platforms, Inc.	4.04%	2.23%
AMZNAmazon.com, Inc.	3.63%	3.78%
MUMicron Technology, Inc.	3.16%	1.74%

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Investment Analysis

IVW

Pros

IVW offers concentrated exposure to the S&P 500's large-cap growth segment.
Its substantial net assets of $77.2 billion support strong institutional adoption.
Inception in May 2000 provides a long operational track record.

Considerations

The expense ratio of 0.18% is higher than many broad market ETFs.
Top holdings like NVDA at 14.80% create significant single-stock concentration.
A low dividend yield of 0.34% limits current income generation potential.

SPY

Pros

SPY features a very low expense ratio of 0.09% for broad market exposure.
Enormous net assets of $785.0 billion ensure exceptional liquidity and trading volume.
Inception in January 1993 makes it one of the longest-established ETFs available.

Considerations

Its large blend category may underperform pure growth strategies in rising markets.
Top holdings like NVDA at 8.16% still introduce some concentration risk.
The dividend yield of 0.98% offers limited income compared to other sectors.

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About IVW and SPY

IVW (IVW)

The iShares S&P 500 Growth ETF offers investors exposure to a curated selection of US large-cap companies that exhibit strong growth characteristics. Designed for those seeking capital appreciation, this fund focuses on businesses expected to achieve above-average revenue and earnings growth. With an inception date of May 22, 2000, it has a long history of tracking growth-oriented market segments. The fund holds approximately 155 assets, maintaining a relatively concentrated portfolio compared to broader market indices. Its expense ratio stands at 0.18%, providing a cost-effective way to access this specific factor. While it currently offers a modest dividend yield of 0.34%, the primary objective remains growth rather than income. Investors should note that while net assets are substantial at USD 77.16 billion, the value of these growth stocks can fluctuate significantly, and past performance does not guarantee future returns.

SPY (SPY)

SPDR S&P 500 ETF Trust (SPY) is an exchange‑traded fund designed to track the S&P 500 index, offering investors broad exposure to large‑capitalisation US equities. It is widely used by retail and institutional investors for core portfolio allocation, tactical trading and hedging because of its deep liquidity and transparent holdings. SPY distributes dividends (typically quarterly) and reflects the performance of the underlying index, so returns move with the US large‑cap market. As with any equity product, value can fall as well as rise and past performance is not a guide to the future. Costs, tax considerations and suitability will depend on an individual’s circumstances; consult official documents and consider seeking independent advice where appropriate. This summary is general educational information and not personalised investment advice.

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IVW vs SPY

Fund Snapshot