AWEG vs IWP
Alger Weatherbie Enduring Growth ETF vs iShares Russell Midcap Growth ETF
Which is better, AWEG or IWP?
IWP has been ahead.
IWP has a lower expense ratio. IWP led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AWEG | IWP |
|---|---|---|
| Expense Ratio | 0.65% | 0.23%Best |
| AUM | $5M | $19.7B |
| Dividend Yield | 3.70% | 0.38% |
| Holdings | 25 | 270 |
| Volatility (annualized) | 18.1% | 18.0%Best |
| Max Drawdown | -27.0% | -25.2%Best |
| $10,000 over 2.8 years | $12,108 | $15,636Best |
| Fund Family | Alger | iShares by BlackRock (US) |
| Category | Equity | Equity |
| Style | Mid Cap Growth | Mid Cap Growth |
| Inception | Mar 6, 2023 | Jul 17, 2001 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 295 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. AWEG has data through Dec 24, 2025 and IWP through Oct 15, 2026.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Mar 7, 2023 to Dec 24, 2025 (2.8 years).
Risk: Volatility and Drawdowns
AWEG has been the more volatile fund, with annualized monthly volatility of 18.1% compared with 18.0% for IWP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -27.0% for AWEG and -25.2% for IWP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
AWEG charges 0.65% per year while IWP charges 0.23%. On a $10,000 position that is $65 vs $23 annually, a gap of $42 per year that compounds over a long holding period. On income, AWEG currently yields 3.70% against 0.38% for IWP.
Holdings Overlap
At least 3.7% of IWP's money is in holdings AWEG also owns.
Stated as a floor: for AWEG, our book for it covers 90.6% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
IWP and AWEG share little of their money.
The two holdings books were reported 335 days apart, AWEG as of Oct 31, 2025 and IWP as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
8 positions in common, counted across the 23 positions we hold weights for in AWEG and 271 in IWP, against full books of 25 and 270.
Top Shared Holdings
| Stock | Weight in AWEG | Weight in IWP | Difference |
|---|---|---|---|
| NTRANatera Inc | 7.26% | 1.60% | 5.66% |
| PCTYPaylocity Holding Corp | 4.63% | 0.01% | 4.62% |
| SMTCSemtech Corp | 4.13% | 0.50% | 3.63% |
| XPOXpo Logistics Inc. | 3.38% | 0.59% | 2.79% |
| HEIHeico Corp. | 3.16% | 0.37% | 2.79% |
| PLNTPlanet Fitness Inc | 3.13% | 0.09% | 3.04% |
| HUBSHubspot Inc | 1.11% | 0.27% | 0.84% |
| PODDInsulet Corporation | 0.99% | 0.26% | 0.73% |
You are not choosing between two funds in isolation.
Whichever of AWEG and IWP you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AWEG or IWP?
AWEG has an expense ratio of 0.65% while IWP charges 0.23%. IWP is the cheaper option, by $42 a year on a $10,000 investment.
Which is riskier, AWEG or IWP?
AWEG has been the more volatile fund at 18.1% annualized versus 18.0% for IWP. Worst drawdown: AWEG -27.0% vs IWP -25.2%.
Should I hold both AWEG and IWP?
AWEG and IWP have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between AWEG and IWP?
At least 3.7% of IWP's money is in holdings AWEG also owns. Our book for AWEG is partial, so the real figure is this or higher. They hold 8 positions in common, counted across the 23 positions we hold weights for in AWEG and 271 in IWP.
Which pays a higher dividend, AWEG or IWP?
AWEG yields 3.70% while IWP yields 0.38%, so AWEG currently pays the higher dividend yield.
Is IWP better than AWEG?
IWP has a lower expense ratio. IWP led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.