IWV vs TILT
iShares Russell 3000 ETF vs Northern Trust Morningstar US Market Factor Tilt ETF
Which is better, IWV or TILT?
Nearly the same fund. IWV costs less.
IWV has a lower expense ratio. IWV led over 1Y, 3Y and 5Y, TILT over the full window. The two have moved almost in lockstep, correlation 0.98. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 34.6%.
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 | TILT |
|---|---|---|
| Expense Ratio | 0.20%Best | 0.25% |
| AUM | $20.7B | $2.2B |
| Dividend Yield | 0.88% | 1.08% |
| Holdings | 5,163 | 1,929 |
| YTD Return | +12.89%Best | +11.74% |
| 1Y Return | +16.39%Best | +15.61% |
| 3Y Return (annualized) | +21.75%Best | +20.41% |
| 5Y Return (annualized) | +11.91%Best | +11.12% |
| Volatility (annualized) | 14.4%Best | 15.5% |
| Max Drawdown | -35.2%Best | -38.5% |
| $10,000 over 5 years | $17,553Best | $16,942 |
| Top 10 Weight | 34.6% | 27.1%Best |
| Fund Family | iShares by BlackRock (US) | Northern Trust Asset Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | May 22, 2000 | Sep 16, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Sep 22, 2011 to Oct 14, 2026 (15.1 years).
IWV vs TILT 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 15.1 years both funds cover.
IWV vs TILT Performance
iShares Russell 3000 ETF (IWV) is an ETF from iShares by BlackRock (US) and Northern Trust Morningstar US Market Factor Tilt ETF (TILT) is an ETF from Northern Trust Asset Management. Over the past year IWV returned +16.39% while TILT returned +15.61%. Year to date, IWV is up 12.89% versus a gain of 11.74% for TILT.
Over three years, IWV compounded at +21.75% per year against +20.41% for TILT; over five years the annualized figures are +11.91% and +11.12% respectively. Across the full 15-year window we track, TILT has the edge at +14.27% annualized vs +13.75%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
TILT has been the more volatile fund, with annualized monthly volatility of 15.5% compared with 14.4% for IWV. 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 -35.2% for IWV and -38.5% for TILT. 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
IWV charges 0.20% per year while TILT charges 0.25%. On a $10,000 position that is $20 vs $25 annually, a gap of $5 per year that compounds over a long holding period. On income, IWV currently yields 0.88% against 1.08% for TILT.
Holdings Overlap
92.7% of IWV's money is in holdings TILT also owns. 95.1% of TILT's money is in holdings IWV also owns.
Most of TILT is already inside IWV. Owning both mostly buys the same companies twice.
1,797 positions in common, counted across the 2,586 positions we hold weights for in IWV and 1,904 in TILT, against full books of 5,163 and 1,929.
What only one of them owns
Our book lists 56 positions for TILT that do not appear in our book for IWV (3.6% of the fund), and 53 for IWV that do not appear in TILT (3.7%).
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 TILT | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.33% | 5.56% | 1.77% |
| AAPLApple, Inc | 6.50% | 4.98% | 1.52% |
| MSFTMicrosoft Corp | 5.18% | 3.93% | 1.25% |
| AMZNAmazon.Com Inc | 3.28% | 2.53% | 0.75% |
| GOOGLAlphabet Inc | 2.68% | 2.04% | 0.64% |
| METAMeta Platforms Inc | 2.17% | 2.04% | 0.13% |
| AVGOBroadcom Inc | 2.17% | 1.66% | 0.51% |
| GOOGAlphabet Inc. C | 2.17% | 1.64% | 0.53% |
| MUMicron Technology, Inc. | 1.68% | 1.58% | 0.10% |
| TSLATesla Inc | 1.41% | 1.03% | 0.38% |
95.1% of TILT 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 TILT?
IWV has an expense ratio of 0.20% while TILT charges 0.25%. IWV is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, IWV or TILT?
Over the past year IWV returned +16.39% vs +15.61% for TILT, so IWV leads on 1-year performance. Over the longest common window we track (15 years), IWV annualized +13.75% vs +14.27% for TILT. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IWV or TILT?
TILT has been the more volatile fund at 15.5% annualized versus 14.4% for IWV. Worst drawdown: IWV -35.2% vs TILT -38.5%.
Should I hold both IWV and TILT?
IWV and TILT 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 IWV and TILT?
95.1% of TILT's money is in holdings IWV also owns. 95.1% of TILT's is in holdings IWV also owns. They hold 1,797 positions in common, counted across the 2,586 positions we hold weights for in IWV and 1,904 in TILT.
Which pays a higher dividend, IWV or TILT?
IWV yields 0.88% while TILT yields 1.08%, so TILT currently pays the higher dividend yield.
Is TILT better than IWV?
IWV has a lower expense ratio. IWV led over 1Y, 3Y and 5Y, TILT over the full window. The two have moved almost in lockstep, correlation 0.98. TILT is less concentrated, with 27.1% of the fund in its ten largest positions against 34.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.