IWV vs TCAF
iShares Russell 3000 ETF vs T. Rowe Price Capital Appreciation Equity ETF
Which is better, IWV or TCAF?
Nearly the same fund. IWV costs less.
IWV has a lower expense ratio. IWV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. IWV is less concentrated, with 34.6% of the fund in its ten largest positions against 39.4%.
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 | IWV | TCAF |
|---|---|---|
| Expense Ratio | 0.20%Best | 0.31% |
| AUM | $20.7B | $9.1B |
| Dividend Yield | 0.88% | 0.45% |
| Holdings | 5,163 | 101 |
| YTD Return | +12.89% | +13.46%Best |
| 1Y Return | +16.39%Best | +14.72% |
| 3Y Return (annualized) | +21.75%Best | +19.72% |
| 5Y Return (annualized) | +11.91% | - |
| Volatility (annualized) | 12.8% | 12.0%Best |
| Max Drawdown | -19.3% | -16.6%Best |
| $10,000 over 3.3 years | $17,725Best | $16,964 |
| Top 10 Weight | 34.6%Best | 39.4% |
| Fund Family | iShares by BlackRock (US) | T.Rowe Price |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| 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).
IWV vs TCAF 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.
IWV vs TCAF Performance
iShares Russell 3000 ETF (IWV) is an ETF from iShares by BlackRock (US) and T. Rowe Price Capital Appreciation Equity ETF (TCAF) is an ETF from T.Rowe Price. Over the past year IWV returned +16.39% while TCAF returned +14.72%. Year to date, IWV is up 12.89% versus a gain of 13.46% for TCAF.
Over three years, IWV compounded at +21.75% per year against +19.72% for TCAF.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IWV has been the more volatile fund, with annualized monthly volatility of 12.8% compared with 12.0% for TCAF. 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 -19.3% for IWV and -16.6% for TCAF. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IWV charges 0.20% per year while TCAF charges 0.31%. On a $10,000 position that is $20 vs $31 annually, a gap of $11 per year that compounds over a long holding period. On income, IWV currently yields 0.88% against 0.45% for TCAF.
Holdings Overlap
42.5% of IWV's money is in holdings TCAF also owns. 88.3% of TCAF's money is in holdings IWV also owns.
Most of TCAF is already inside IWV. Owning both mostly buys the same companies twice.
86 positions in common, counted across the 2,586 positions we hold weights for in IWV and 98 in TCAF, against full books of 5,163 and 101.
What only one of them owns
Our book lists 5 positions for TCAF that do not appear in our book for IWV (1.5% of the fund), and 1,053 for IWV that do not appear in TCAF (53.7%).
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 IWV | Weight in TCAF | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.33% | 5.52% | 1.81% |
| AAPLApple, Inc | 6.50% | 4.90% | 1.60% |
| MSFTMicrosoft Corp | 5.18% | 6.01% | 0.83% |
| AMZNAmazon.Com Inc | 3.28% | 5.02% | 1.74% |
| GOOGLAlphabet Inc | 2.68% | 3.15% | 0.47% |
| METAMeta Platforms Inc | 2.17% | 3.52% | 1.35% |
| AVGOBroadcom Inc | 2.17% | 3.30% | 1.13% |
| AMDAdvanced Micro Devices Inc | 1.36% | 2.66% | 1.30% |
| GOOGAlphabet Inc. C | 2.17% | 1.63% | 0.54% |
| MUMicron Technology, Inc. | 1.68% | 1.39% | 0.29% |
88.3% of TCAF is already inside IWV.
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, IWV or TCAF?
IWV has an expense ratio of 0.20% while TCAF charges 0.31%. IWV is the cheaper option, by $11 a year on a $10,000 investment.
Which performed better, IWV or TCAF?
Over the past year IWV returned +16.39% vs +14.72% for TCAF, so IWV leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IWV or TCAF?
IWV has been the more volatile fund at 12.8% annualized versus 12.0% for TCAF. Worst drawdown: IWV -19.3% vs TCAF -16.6%.
Should I hold both IWV and TCAF?
IWV and TCAF have a monthly-return correlation of 0.97, 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 IWV and TCAF?
88.3% of TCAF's money is in holdings IWV also owns. 88.3% of TCAF's is in holdings IWV also owns. They hold 86 positions in common, counted across the 2,586 positions we hold weights for in IWV and 98 in TCAF.
Which pays a higher dividend, IWV or TCAF?
IWV yields 0.88% while TCAF yields 0.45%, so IWV currently pays the higher dividend yield.
Is TCAF better than IWV?
IWV has a lower expense ratio. IWV led over 1Y, 3Y and the full window. The two have moved almost in lockstep, correlation 0.97. IWV is less concentrated, with 34.6% of the fund in its ten largest positions against 39.4%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.