MGK vs PWB: Differences, Returns & Fees
MGK and PWB hold 44% of their weight in the same names, and PWB returned +20.2% over the year. Net assets: $34.9bn on Sep 30, 2026 for Vanguard Morningstar Mega Cap Growth ETF, and $2.6bn on Oct 20, 2026 for Invesco Large Cap Growth ETF.
MGK costs 0.50 points a year less; their one-year returns differ by 8.3 points.
| MGK | PWB | |
|---|---|---|
| Expense ratio | 0.05% | 0.55% |
| Net assets, MGK as of Sep 30, 2026 and PWB as of Oct 20, 2026 | $34.9bn | $2.6bn |
| Total return, 1 year | +11.9% | +20.2% |
| What it tracks | Morningstar US Mega Cap Growth Index | Dynamic Large Cap Growth Intellidex Index |
| Holdings in common | 44% | |
| Top ten holdings, share of the fund | 64.5% | 36.0% |
| Below its high | 4.5%, high on Oct 6, 2026 | 8.9%, high on Jun 22, 2026 |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 19, 2026.
MGK and PWB are built for the same job. How do they differ in cost, holdings and results?
- What each follows. MGK follows Morningstar US Mega Cap Growth Index and PWB follows Dynamic Large Cap Growth Intellidex Index.
- Holdings in common. 44% of the weight is in the same securities (holdings dated Sep 30, 2026 and Oct 19, 2026).
- One-year total return. Over 1 year to Oct 20, 2026 MGK returned +11.9% and PWB +20.2% with distributions reinvested, a gap of 8.3 points.
Data as of Oct 20, 2026. The differences are picked by a fixed rule, in a fixed order; the PDF prints it. Page 2 has the returns, overlap, risks and sources.
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What they hold in common
By the books each fund has filed, MGK and PWB hold 44% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 19, 2026.
half
44% in common
On the same fields
MGK and PWB on the fields both publish, as of Oct 20, 2026. Source: ETFIQ.
About MGK
MGK tracks an index of Mega Cap Growth. Over the year to Oct 20, 2026 it returned +11.9% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 99% of the fund by weight is stocks the S&P 500 also holds, across 54 positions, with the top ten at 64.5%. It sat 4.5% below its high of Oct 6, 2026 on Oct 20, 2026.
About PWB
PWB tracks an index. The prospectus expense ratio is 0.55% a year. By its holdings published by its issuer for Oct 19, 2026, 97% of the fund by weight is stocks the S&P 500 also holds, across 52 positions, with the top ten at 36.0%. It sat 8.9% below its high of Jun 22, 2026 on Oct 20, 2026.
Over the year to Oct 20, 2026 it returned +20.2% with distributions reinvested, against +15.0% for its benchmark, the Russell 3000 Index.
Questions people ask
- Which returned more over the last year, MGK or PWB?
- In the year to Oct 20, 2026, with distributions reinvested, MGK returned +11.9% and PWB +20.2%.
- Which is cheaper, MGK or PWB?
- MGK is cheaper, by 0.50 percentage points a year. That is about $50 on $10,000 held for a year. Fees come from each fund's prospectus.
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.
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ETFIQ, MGK against PWB, data as of Oct 20, 2026. https://etfiq.com/compare/any/mgk-vs-pwb
ETFIQ. (Oct 20, 2026). MGK against PWB. Retrieved from https://etfiq.com/compare/any/mgk-vs-pwb
[MGK against PWB (ETFIQ, Oct 20, 2026)](https://etfiq.com/compare/any/mgk-vs-pwb)
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