Data as of Oct 28, 2026.
IWC vs VNQ: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWC returned +16.5% to VNQ's +4.8%; 0% of their weight is in the same names.
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Net assets: $1.2bn on Oct 27, 2026 for iShares Micro-Cap ETF, and $35.9bn on Sep 30, 2026 for Vanguard Real Estate ETF.
Pair scorecard
VNQ costs 0.47 points a year less; their one-year returns differ by 11.7 points; VNQ is far larger, $35.9bn against $1.4bn.
| Measure | IWC | VNQ |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +4.8% |
| Drawdown | ||
| Below its high | 9.5%, high on Aug 14, 2026 | 8.3%, high on Jul 28, 2026 |
| Benchmark | ||
| What it tracks | Russell Microcap Index | MSCI US Investable Market Real Estate 25/50 Index |
| Cost and size | ||
| Expense ratio | 0.60% | 0.13% |
| Net assets, as of Sep 30, 2026 | $1.4bn | $35.9bn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 5.9% | 55.8% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Aug 26, 2005 to Oct 23, 2026 · 1,104 weekly returnsIWC returned more: +348.0% to +285.7%. IWC swung slightly less: 23.7% to 25.3%. IWC fell less at its worst: −63.8% to −72.5%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IWC | VNQ | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +348.0% | +285.7% | IWC | Price change plus distributions, reinvested. |
| Annualized | +7.3% | +6.6% | IWC | Total return as a yearly rate. |
| Price return | +254.5% | +56.8% | IWC | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 23.7% | 25.3% | IWC (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 16.8% | 17.5% | IWC (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −63.8% | −72.5% | IWC | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.34 | 0.31 | IWC | Return above Treasury bills per unit of volatility. |
| Sortino | 0.48 | 0.44 | IWC (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.11 | 0.09 | IWC | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,104 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWC and VNQ hold 0% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Side by side
IWC and VNQ on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWC and VNQ do different jobs. What does each one do in a portfolio?
- What each follows. IWC follows Russell Microcap Index and VNQ follows MSCI US Investable Market Real Estate 25/50 Index.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 IWC returned +16.5% and VNQ +4.8% with distributions reinvested, a gap of 11.7 points.
Data as of Oct 28, 2026.
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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.
VNQ
VNQ tracks an index of US real estate. Over the year to Oct 28, 2026 it returned +4.8% with distributions reinvested. The prospectus expense ratio is 0.13% a year. By its holdings published by its issuer as of Sep 30, 2026, 63% of the fund by weight is stocks the S&P 500 also holds, across 141 positions, with the top ten at 55.8%. It sat 8.3% below its high of Jul 28, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, IWC or VNQ?
- In the year to Oct 28, 2026, with distributions reinvested, IWC returned +16.5% and VNQ +4.8%.
- Which is cheaper, IWC or VNQ?
- VNQ is cheaper, by 0.47 percentage points a year. That is about $47 on $10,000 held for a year. Fees come from each fund's prospectus.
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, IWC against VNQ, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwc-vs-vnq
ETFIQ. (Oct 28, 2026). IWC against VNQ. Retrieved from https://etfiq.com/compare/any/iwc-vs-vnq
[IWC against VNQ (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwc-vs-vnq)
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