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Data as of Oct 28, 2026.

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GARP vs IWC: Differences, Returns & Fees

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Over the year to Oct 28, 2026, GARP returned +18.0% to IWC's +16.5%; 0% of their weight is in the same names.

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Net assets on Oct 27, 2026: $3.6bn for iShares MSCI USA Quality GARP ETF and $1.2bn for iShares Micro-Cap ETF.

GARP on its own →IWC on its own →
At a glance
+18.0%
GARP total return, 1 year
+16.5%
IWC total return, 1 year
0.15%
GARP expense ratio
0.60%
IWC expense ratio

Pair scorecard

GARP costs 0.45 points a year less; their one-year returns differ by 1.5 points; GARP is 3.0 times larger.

GARP vs IWC: Differences, Returns & Fees
MeasureGARPIWC
Return
Total return, 1 year+18.0%+16.5%
Drawdown
Below its high7.0%, high on Oct 6, 20269.5%, high on Aug 14, 2026
Benchmark
What it tracksMSCI USA Quality GARP Select IndexRussell Microcap Index
Cost and size
Expense ratio0.15%0.60%
Net assets, as of Oct 27, 2026$3.6bn$1.2bn
Holdings
Holdings in common0%
Top ten holdings, share of the fund43.5%5.9%

Holdings in common uses holdings dated Oct 27, 2026. Method

What they share

0%

By the books each fund has filed, GARP and IWC hold 0% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

0% in common

Positions both hold · largest shared weight first GARP IWC
Only in one fund ↓
Only in GARP
MICROSOFT 5.67%
APPLE 5.66%
NVIDIA 5.18%
VISA CLASS A 5.13%
META PLATFORMS CLASS A 4.72%
MICRON TECHNOLOGY 4.61%
LAM RESEARCH 3.31%
CATERPILLAR INC 3.29%
Only in IWC
CAREDX 0.88%
PENGUIN SOLUTIONS INC 0.73%
NURIX THERAPEUTICS 0.63%
SELLAS LIFE SCIENCES GROUP INC 0.60%
VIRIDIAN THERAPEUTICS ORS 0.59%
OUSTER 0.53%
INTERFACE 0.52%
STRIVE INC CLASS A 0.50%
Check overlap with more funds →

Side by side

GARP iShares MSCI USA Quality GARP ETF IWC iShares Micro-Cap ETF
Where it sits Stock ETF Stock ETF
Issuer iShares iShares
What it is Tracks the MSCI USA Quality GARP Tracks the Russell Microcap
Total return, 1 year +18.0% +16.5%
Its benchmark over the same days +13.3% (PBUS) +13.3% (IWV)
Gap to its benchmark +4.7 pts vs PBUS +3.2 pts vs IWV
Expense ratio 0.15% 0.60%
Already in the S&P 500 94.4% 91.7%
Holdings 131 1365
Net assets, as of Oct 27, 2026 $3.6bn $1.2bn

GARP and IWC on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

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About each fund
GARP

GARP tracks the MSCI USA Quality GARP. Over the year to Oct 28, 2026 it returned +18.0% with distributions reinvested, against +13.3% for its benchmark, the MSCI USA Index. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 94% of the fund by weight is stocks the S&P 500 also holds, across 131 positions, with the top ten at 43.5%. It sat 7.0% below its high of Oct 6, 2026 on Oct 28, 2026.

IWC

Over the year to Oct 28, 2026 it returned +16.5% with distributions reinvested, against +13.3% for its benchmark, the Russell 3000 Index.

IWC tracks the Russell Microcap. The prospectus expense ratio is 0.60% a year. By its holdings published by its issuer for Oct 27, 2026, 92% of the fund by weight is stocks the S&P 500 also holds, across 1,365 positions, with the top ten at 5.9%. It sat 9.5% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Which returned more over the last year, GARP or IWC?
In the year to Oct 28, 2026, with distributions reinvested, GARP returned +18.0% and IWC +16.5%.
Which is cheaper, GARP or IWC?
GARP is cheaper, by 0.45 percentage points a year. That is about $45 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do GARP and IWC overlap with the S&P 500?
By their latest filed holdings, 94% of GARP and 92% of IWC by weight is stocks the S&P 500 already holds.
Other comparisons
GARP vs IJTGARP vs VBGARP vs IJRGARP vs VTWOIWC vs VOOGIWC vs VONGIWC vs SPYGIWC vs SCHG
Where to next
GARP on its own →IWC on its own →Hold both: look the portfolio through →Rankings →GARP dividend history →GARP holdings →IWC dividend history →IWC holdings →Standards and sources →
Sources and dates
GARP and IWC filings on SEC EDGAR ↗
GARP and IWC prospectus with the expense ratio (SEC) ↗
iShares page for GARP ↗
iShares page for IWC ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

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ETFIQ, GARP against IWC, data as of Oct 28, 2026. https://etfiq.com/compare/any/garp-vs-iwc

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.