IWD vs TVAL
iShares Russell 1000 Value ETF vs T. Rowe Price Value ETF
Which is better, IWD or TVAL?
Nearly the same fund. IWD costs less.
IWD has a lower expense ratio. IWD led over 3Y, TVAL over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. IWD is less concentrated, with 29.7% of the fund in its ten largest positions against 29.8%.
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 | IWD | TVAL |
|---|---|---|
| Expense Ratio | 0.18%Best | 0.33% |
| AUM | $83.2B | $1.1B |
| Dividend Yield | 1.43% | 0.97% |
| Holdings | 869 | 155 |
| YTD Return | +21.07%Best | +20.77% |
| 1Y Return | +27.09% | +27.42%Best |
| 3Y Return (annualized) | +20.91%Best | +20.43% |
| 5Y Return (annualized) | +11.56% | - |
| Volatility (annualized) | 12.4% | 12.2%Best |
| Max Drawdown | -15.7%Best | -15.8% |
| $10,000 over 3.3 years | $17,108 | $17,223Best |
| Top 10 Weight | 29.7%Best | 29.8% |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | May 22, 2000 | Jun 14, 2023 |
Volatility and max drawdown, and the $10,000 over 3.3 years row, are measured over the window both funds cover: Jun 15, 2023 to Oct 14, 2026 (3.3 years).
IWD vs TVAL growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.3 years both funds cover.
IWD vs TVAL Performance
iShares Russell 1000 Value ETF (IWD) is an ETF from iShares by BlackRock (US) and T. Rowe Price Value ETF (TVAL) is an ETF from T.Rowe Price. Over the past year IWD returned +27.09% while TVAL returned +27.42%. Year to date, IWD is up 21.07% versus a gain of 20.77% for TVAL.
Over three years, IWD compounded at +20.91% per year against +20.43% for TVAL.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IWD has been the more volatile fund, with annualized monthly volatility of 12.4% compared with 12.2% for TVAL. 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 -15.7% for IWD and -15.8% for TVAL. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IWD charges 0.18% per year while TVAL charges 0.33%. On a $10,000 position that is $18 vs $33 annually, a gap of $15 per year that compounds over a long holding period. On income, IWD currently yields 1.43% against 0.97% for TVAL.
Holdings Overlap
57.4% of IWD's money is in holdings TVAL also owns. 89.1% of TVAL's money is in holdings IWD also owns.
Most of TVAL is already inside IWD. Owning both mostly buys the same companies twice.
125 positions in common, counted across the 871 positions we hold weights for in IWD and 148 in TVAL, against full books of 869 and 155.
What only one of them owns
Our book lists 15 positions for TVAL that do not appear in our book for IWD (5.2% of the fund), and 668 for IWD that do not appear in TVAL (41.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in IWD | Weight in TVAL | Difference |
|---|---|---|---|
| AMZNAmazon.Com Inc | 6.06% | 6.50% | 0.44% |
| AAPLApple, Inc | 6.01% | 5.78% | 0.23% |
| MSFTMicrosoft Corp | 5.23% | 5.15% | 0.08% |
| JPMJpmorgan Chase | 2.45% | 1.74% | 0.71% |
| XOMExxonmobil Corp. | 1.85% | 2.02% | 0.17% |
| JNJJohnson & Johnson - Common | 1.71% | 1.82% | 0.11% |
| INTCIntel Corporation | 1.50% | 1.41% | 0.09% |
| CSCOCisco Systems Inc. - Ordinary Shares | 1.18% | 1.43% | 0.25% |
| PGProcter & Gamble Company | 0.92% | 1.59% | 0.67% |
| COPConocophillips Common Stock USD 0.01 | 0.43% | 1.94% | 1.51% |
89.1% of TVAL is already inside IWD.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, IWD or TVAL?
IWD has an expense ratio of 0.18% while TVAL charges 0.33%. IWD is the cheaper option, by $15 a year on a $10,000 investment.
Which performed better, IWD or TVAL?
Over the past year IWD returned +27.09% vs +27.42% for TVAL, so TVAL leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IWD or TVAL?
IWD has been the more volatile fund at 12.4% annualized versus 12.2% for TVAL. Worst drawdown: IWD -15.7% vs TVAL -15.8%.
Should I hold both IWD and TVAL?
IWD and TVAL have a monthly-return correlation of 0.98, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between IWD and TVAL?
89.1% of TVAL's money is in holdings IWD also owns. 89.1% of TVAL's is in holdings IWD also owns. They hold 125 positions in common, counted across the 871 positions we hold weights for in IWD and 148 in TVAL.
Which pays a higher dividend, IWD or TVAL?
IWD yields 1.43% while TVAL yields 0.97%, so IWD currently pays the higher dividend yield.
Is TVAL better than IWD?
IWD has a lower expense ratio. IWD led over 3Y, TVAL over 1Y and the full window. The two have moved almost in lockstep, correlation 0.98. IWD is less concentrated, with 29.7% of the fund in its ten largest positions against 29.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.