Data as of Oct 28, 2026.
IWC vs VOO: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWC returned +16.5% to VOO's +13.7%; 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 $1.0tn on Sep 30, 2026 for Vanguard S&P 500 ETF.
Pair scorecard
VOO costs 0.57 points a year less; their one-year returns differ by 2.8 points; VOO is far larger, $1.0tn against $1.4bn.
| Measure | IWC | VOO |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.5% | +13.7% |
| Drawdown | ||
| Below its high | 9.5%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | Russell Microcap Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.60% | 0.03% |
| Net assets, as of Sep 30, 2026 | $1.4bn | $1.0tn |
| Holdings | ||
| Holdings in common | 0% | |
| Top ten holdings, share of the fund | 5.9% | 39.1% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 17, 2010 to Oct 23, 2026 · 840 weekly returnsEach against its own benchmark: IWC against IWV, Aug 26, 2005 to Oct 23, 2026; VOO against IVV, Sep 17, 2010 to Oct 23, 2026.
VOO returned more: +804.0% to +434.7%. VOO swung less: 15.9% to 22.4%. VOO fell less at its worst: −31.8% to −45.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | IWC | VOO | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +434.7% | +804.0% | VOO | Price change plus distributions, reinvested. |
| Annualized | +10.9% | +14.6% | VOO | Total return as a yearly rate. |
| Price return | +339.7% | +575.9% | VOO | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 22.4% | 15.9% | VOO | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 15.4% | 10.9% | VOO | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −45.2% | −31.8% | VOO | Deepest fall from a high to the low after it. |
| Upside capture | 118.0% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 111.7% | 99.9% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.16 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.76 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.50 | 0.84 | VOO | Return above Treasury bills per unit of volatility. |
| Sortino | 0.73 | 1.22 | VOO | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.070 | 0.134 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.24 | 0.46 | VOO | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IWV | IVV | The ETF each fund is measured against. | |
| Alpha | −3.6% a year | 0.0% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −1.41 | 0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −8.5% to +1.4% | −0.1% to +0.2% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | −0.16 | 0.02 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 12.0% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 840 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWC and VOO 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 VOO on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWC and VOO do different jobs. What does each one do in a portfolio?
- What each follows. IWC follows Russell Microcap Index and VOO follows S&P 500 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 VOO +13.7% with distributions reinvested, a gap of 2.8 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.
VOO
VOO tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.7% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.03% a year. By its holdings published by its issuer as of Sep 30, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 507 positions, with the top ten at 39.1%.
Questions people ask
- Which returned more over the last year, IWC or VOO?
- In the year to Oct 28, 2026, with distributions reinvested, IWC returned +16.5% and VOO +13.7%.
- Which is cheaper, IWC or VOO?
- VOO is cheaper, by 0.57 percentage points a year. That is about $57 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 VOO, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwc-vs-voo
ETFIQ. (Oct 28, 2026). IWC against VOO. Retrieved from https://etfiq.com/compare/any/iwc-vs-voo
[IWC against VOO (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwc-vs-voo)
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