Data as of Oct 28, 2026.
IWD vs VOE: Differences, Returns & Fees
Over the year to Oct 28, 2026, IWD returned +27.5% to VOE's +22.8%; 17% of their weight is in the same names.
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Net assets: $83.0bn on Oct 27, 2026 for iShares Russell 1000 Value ETF, and $22.8bn on Sep 30, 2026 for Vanguard Morningstar Mid-Cap Value ETF.
Pair scorecard
VOE costs 0.13 points a year less; their one-year returns differ by 4.7 points; IWD is 3.6 times larger.
| Measure | IWD | VOE |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.5% | +22.8% |
| Benchmark | ||
| What it tracks | Russell 1000 Value Index | Morningstar US Mid Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.18% | 0.05% |
| Net assets, as of Sep 30, 2026 | $81.0bn | $22.8bn |
| Holdings | ||
| Holdings in common | 17% | |
| Top ten holdings, share of the fund | 29.6% | 14.0% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Sep 1, 2006 to Oct 23, 2026 · 1,051 weekly returnsVOE returned more: +515.4% to +431.8%. IWD swung slightly less: 18.6% to 20.4%. IWD fell slightly less at its worst: −59.8% to −61.2%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | IWD | VOE | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +431.8% | +515.4% | VOE | Price change plus distributions, reinvested. |
| Annualized | +8.6% | +9.4% | VOE (slight) | Total return as a yearly rate. |
| Price return | +237.3% | +301.7% | VOE | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.6% | 20.4% | IWD (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 13.4% | 14.5% | IWD (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −59.8% | −61.2% | IWD (slight) | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.45 | 0.46 | VOE (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.63 | 0.65 | VOE (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.14 | 0.15 | VOE (slight) | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,051 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, IWD and VOE hold 17% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
17% in common
Only in one fund ↓
Side by side
IWD and VOE on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
IWD and VOE do different jobs. What does each one do in a portfolio?
- What each follows. IWD follows Russell 1000 Value Index and VOE follows Morningstar US Mid Cap Value Index.
- Holdings in common. 17% 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 IWD returned +27.5% and VOE +22.8% with distributions reinvested, a gap of 4.7 points.
Data as of Oct 28, 2026.
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IWD
IWD tracks the Russell 1000 value. Over the year to Oct 28, 2026 it returned +27.5% with distributions reinvested, against +27.7% 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 27, 2026, 90% of the fund by weight is stocks the S&P 500 also holds, across 871 positions, with the top ten at 29.6%.
VOE
VOE tracks an index of Mid-Cap Value. Over the year to Oct 28, 2026 it returned +22.8% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 96% of the fund by weight is stocks the S&P 500 also holds, across 169 positions, with the top ten at 14.0%.
Questions people ask
- Which returned more over the last year, IWD or VOE?
- In the year to Oct 28, 2026, with distributions reinvested, IWD returned +27.5% and VOE +22.8%.
- Which is cheaper, IWD or VOE?
- VOE is cheaper, by 0.13 percentage points a year. That is about $13 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, IWD against VOE, data as of Oct 28, 2026. https://etfiq.com/compare/any/iwd-vs-voe
ETFIQ. (Oct 28, 2026). IWD against VOE. Retrieved from https://etfiq.com/compare/any/iwd-vs-voe
[IWD against VOE (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/iwd-vs-voe)
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