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IWD vs TVAL: Differences, Returns & Fees

IWD and TVAL hold 41% of their weight in the same names. Net assets on Oct 9, 2026: $82.9bn for iShares Russell 1000 Value ETF and $1.1bn for T. Rowe Price Value ETF.

IWD costs 0.15 points a year less; their one-year returns differ by 0.4 points; IWD is far larger, $82.9bn against $1.1bn.

IWD vs TVAL: Differences, Returns & Fees
IWDTVAL
Expense ratio0.18%0.33%
Net assets$82.9bn$1.1bn
Total return, 1 year+26.4%+26.8%
What it tracksRussell 1000 Value IndexNo index, actively managed
Holdings in common41%
Top ten holdings, share of the fund30.0%23.0%

Holdings in common uses holdings dated Jun 30, 2026 and Oct 9, 2026.

+26.4%
IWD total return, 1 year
+26.8%
TVAL total return, 1 year
0.18%
IWD expense ratio
0.33%
TVAL expense ratio

What they hold in common

By the books each fund has filed, IWD and TVAL hold 41% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Oct 9, 2026.

half

41% in common

Positions both hold, largest shared weight first
Holding IWD TVAL
AMAZON.COM INC 6.28% 5.03%
APPLE 6.01% 2.96%
MICROSOFT 5.35% 2.28%
JOHNSON & JOHNSON 1.70% 1.68%
INTEL CORPORATION 1.29% 1.90%
CISCO SYSTEMS INC 1.26% 1.54%
WALMART 1.20% 1.11%
MERCK & CO INC 0.97% 1.01%
PROCTER & GAMBLE 0.95% 1.74%
UNITEDHEALTH GROUP 0.92% 1.37%
BANK OF AMERICA 0.88% 1.89%
PHILIP MORRIS INTERNATIONAL 0.85% 1.30%
Only in IWD
BERKSHIRE HATHAWAY INC CLASS B 2.59%
JPMORGAN CHASE & CO 2.40%
EXXONMOBIL HOLDINGS CORP 1.87%
GOLDMAN SACHS GROUP 0.70%
RTX 0.68%
COSTCO WHOLESALE CORP 0.64%
INTERNATIONAL BUSINESS MACHINES 0.58%
MCDONALDS CORP 0.45%
Only in TVAL
ALPHABET INC CL C 2.12%
EXXON MOBIL CORP 1.77%
J.P. MORGAN CHASE & CO. 1.56%
SCHWAB (CHARLES) CORP 1.51%
APPLIED MATERIALS INC 1.16%
ADVANCED MICRO DEVICES 1.13%
GE Aerospace 1.01%
AVALONBAY COMMUNITIES INC 0.81%

Check overlap with more funds →

On the same fields

IWD
iShares Russell 1000 Value ETF
TVAL
T. Rowe Price Value ETF
Where it sits Stock ETF Stock ETF
Issuer iShares T. Rowe Price
What it is Tracks the Russell 1000 value Actively managed
Total return, 1 year +26.4% +26.8%
Its benchmark over the same days +26.5% (VONV) +26.4% (IWD)
Gap to its benchmark −0.1 pts vs VONV +0.4 pts vs IWD
Expense ratio 0.18% 0.33%
Already in the S&P 500 90.0% 93.3%
Holdings 871 158
Net assets $82.9bn $1.1bn

IWD and TVAL on the fields both publish, as of Oct 9, 2026. Source: ETFIQ.

About IWD

IWD tracks the Russell 1000 value. Over the year to Oct 9, 2026 it returned +26.4% with distributions reinvested, against +26.5% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.18% a year. By its holdings published by its issuer for Oct 9, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 30.0%.

About TVAL

TVAL is actively managed and tracks no index. Over the year to Oct 9, 2026 it returned +26.8% with distributions reinvested, against +26.4% for its benchmark, the Russell 1000 Value Index. The prospectus expense ratio is 0.33% a year. By its holdings filed for Jun 30, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 158 positions, with the top ten at 23.0%.

Questions people ask

Which returned more over the last year, IWD or TVAL?
In the year to Oct 9, 2026, with distributions reinvested, IWD returned +26.4% and TVAL +26.8%.
Which is cheaper, IWD or TVAL?
IWD is cheaper, by 0.15 percentage points a year. That is about $15 on $10,000 held for a year. Fees come from each fund's prospectus.
How much do IWD and TVAL overlap with the S&P 500?
By their latest filed holdings, 90% of IWD and 93% of TVAL by weight is stocks the S&P 500 already holds.
Other comparisons
IWD vs OAKMIWD vs LGLVIWD vs JVALDUSA vs IWDTVAL vs VTVSCHV vs TVALDFUV vs TVALMGV vs TVAL
IWD on its own →TVAL on its own →Hold both: look the portfolio through →Rankings →Standards and sources →
Where these figures came from
IWD filings on SEC EDGAR ↗IWD prospectus with the expense ratio (SEC) ↗iShares page for IWD ↗TVAL filings on SEC EDGAR ↗TVAL prospectus with the expense ratio (SEC) ↗T. Rowe Price website ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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.

Cite this pageCitation, APA and Markdown

ETFIQ, IWD against TVAL, data as of Oct 9, 2026. https://etfiq.com/compare/any/iwd-vs-tval

Open data

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