Data as of Oct 28, 2026.

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IBB vs IWO: Differences, Returns & Fees

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Over the year to Oct 28, 2026, IBB returned +37.5% to IWO's +7.9%, and IWO charges 0.24% to IBB's 0.44%.

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Net assets on Oct 27, 2026: $11.0bn for iShares Biotechnology ETF and $14.0bn for iShares Russell 2000 Growth ETF.

At a glance
+37.5%
IBB total return, 1 year
+7.9%
IWO total return, 1 year
0.44%
IBB expense ratio
0.24%
IWO expense ratio

Pair scorecard

IWO costs 0.20 points a year less; their one-year returns differ by 29.6 points; IWO is 1.3 times larger.

IBB vs IWO: Differences, Returns & Fees
MeasureIBBIWO
Return
Total return, 1 year+37.5%+7.9%
Drawdown
Below its high9.9%, high on Aug 14, 2026
Benchmark
What it tracksBiotechRussell 2000 Growth Index
Cost and size
Expense ratio0.44%0.24%
Net assets, as of Oct 27, 2026$11.0bn$14.0bn
Active share vs the S&P 50099%
Holdings
Holdings in common15%
Top ten holdings, share of the fund50%6.4%

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

Risk and return

Feb 23, 2001 to Oct 23, 2026 · 1,339 weekly returns
IBB IWO
Return
Total return edge IBB (slight) +586.4% +566.5%
Annualized edge Tie +7.8% +7.6%
Price return edge IBB +557.1% +463.0%
Risk
Volatility edge IWO (slight) 24.3% 23.5%
Max drawdown edge IWO (slight) −59.2% −56.5%
Risk-adjusted
Sharpe edge Tie 0.36 0.36
Sortino edge Tie 0.50 0.50
Calmar edge IWO (slight) 0.13 0.14
Reading

IBB returned slightly more: +586.4% to +566.5%. IWO swung slightly less: 23.5% to 24.3%. IWO fell slightly less at its worst: −56.5% to −59.2%.

Full scorecard

9 measures, with how each is measured
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Risk and return: IBB vs IWO: Differences, Returns & Fees
MeasureIBBIWOEdgeHow it is measured
Return
Total return+586.4%+566.5%IBB (slight)Price change plus distributions, reinvested.
Annualized+7.8%+7.6%TieTotal return as a yearly rate.
Price return+557.1%+463.0%IBBPrice change alone, distributions left out.
Risk
Volatility24.3%23.5%IWO (slight)Spread of weekly returns, annualized. Lower is steadier.
Downside deviation17.2%16.6%IWO (slight)Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown−59.2%−56.5%IWO (slight)Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe0.360.36TieReturn above Treasury bills per unit of volatility.
Sortino0.500.50TieReturn above Treasury bills per unit of downside deviation.
Calmar0.130.14IWO (slight)Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,339 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

15%

By the books each fund has filed, IBB and IWO hold 15% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.

0 half 100%

half

15% in common

Positions both hold · largest shared weight first IBB IWO
TWIST BIOSCIENCE 0.71% 0.71%
10X GENOMICS CLASS A 0.63% 0.61%
PROTAGONIST THERAPEUTICS 0.60% 0.58%
KRYSTAL BIOTECH 0.58% 0.56%
SPYRE THERAPEUTICS INC 0.55% 0.51%
PRAXIS PRECISION MEDICINES 0.49% 0.45%
KYMERA THERAPEUTICS 0.61% 0.41%
ALKERMES 0.50% 0.40%
VAXCYTE 0.61% 0.38%
RHYTHM PHARMACEUTICALS 0.42% 0.36%
COGENT BIOSCIENCES 0.35% 0.36%
ORUKA THERAPEUTICS 0.39% 0.32%
Only in one fund ↓
Only in IBB
GILEAD SCIENCES 8.56%
AMGEN INC 8.20%
VERTEX PHARMACEUTICALS 7.53%
REGENERON PHARMACEUTICALS 5.64%
MODERNA 5.29%
NATERA 3.85%
ARGENX SE ADR 3.42%
ILLUMINA INC 2.93%
Only in IWO
JFROG 0.74%
GLAUKOS 0.70%
MOOG INC CLASS A 0.68%
BRIGHTSPRING HEALTH SERVICES INC 0.66%
RYMAN HOSPITALITY PROPERTIES REIT 0.60%
INTERDIGITAL INC 0.58%
BRINKER INTERNATIONAL INC 0.57%
HEALTHEQUITY 0.57%
Check overlap with more funds →

Side by side

IBB iShares Biotechnology ETF IWO iShares Russell 2000 Growth ETF
Where it sits Thematic ETF Stock ETF
What it is Biotech Tracks the Russell 2000 Growth
Total return, 1 year +37.5% +7.9%
Its benchmark over the same days not measured +8.0% (VTWG)
Gap to its benchmark not measured −0.1 pts vs VTWG
Expense ratio 0.44% 0.24%
Already in the S&P 500 40.2% 0.0%
Holdings 245 1122
Net assets, as of Oct 27, 2026 $11.0bn $14.0bn

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

Client brief · page 1 of 2 Report BR-85A7028AE0

IBB and IWO do different jobs. What does each one do in a portfolio?

  1. What each follows. IBB follows Biotech and IWO follows Russell 2000 Growth Index.
  2. Holdings in common. 15% of the weight is in the same securities (holdings dated Oct 27, 2026).
  3. One-year total return. Over 1 year to Oct 28, 2026 IBB returned +37.5% and IWO +7.9% with distributions reinvested, a gap of 29.6 points.

Data as of Oct 28, 2026.

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About each fund
IBB

By weight, 40% of IBB's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 50% of the fund across 245 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +37.5% with distributions reinvested.

IWO

IWO tracks the Russell 2000 Growth. Over the year to Oct 28, 2026 it returned +7.9% with distributions reinvested, against +8.0% for its benchmark, the Russell 2000 Growth Index. The prospectus expense ratio is 0.24% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 1,122 positions, with the top ten at 6.4%. It sat 9.9% below its high of Aug 14, 2026 on Oct 28, 2026.

Questions people ask

Are IBB and IWO in the same category?
IBB is a thematic ETF and IWO is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which returned more over the last year, IBB or IWO?
In the year to Oct 28, 2026, with distributions reinvested, IBB returned +37.5% and IWO +7.9%.
Which is cheaper, IBB or IWO?
IWO is cheaper, by 0.20 percentage points a year. That is about $20 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do IBB and IWO overlap with the S&P 500?
By their latest filed holdings, 40% of IBB and 0% of IWO by weight is stocks the S&P 500 already holds.
Other comparisons
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ETFIQ, IBB against IWO, data as of Oct 28, 2026. https://etfiq.com/compare/any/ibb-vs-iwo

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