Overview
Growth half of the S&P 500, selected on sales growth, earnings-change-to-price and momentum. Heavily concentrated in technology and communication services mega-caps.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| NVDA | NVIDIA Corporation | 12.4% |
| AAPL | Apple Inc. | 11.2% |
| MSFT | Microsoft Corp. | 10.8% |
| AMZN | Amazon.com Inc. | 6.4% |
| META | Meta Platforms | 4.8% |
| AVGO | Broadcom Inc. | 4.2% |
| GOOGL | Alphabet Class A | 3.6% |
| TSLA | Tesla Inc. | 3.2% |
| GOOG | Alphabet Class C | 3.0% |
| LLY | Eli Lilly | 2.4% |
Fund Details
Investment Thesis
IVW concentrates the fastest-growing half of the S&P 500, which in practice means an outsized weighting to the mega-cap technology names driving the AI capital-expenditure cycle. That concentration is the entire point and the entire risk: the top ten holdings routinely exceed 55% of assets, so IVW behaves less like a diversified fund and more like a leveraged bet on US large-cap technology. Returns have been spectacular over the past decade and brutally volatile in drawdowns such as 2022.
Who It's For
Growth-oriented investors comfortable with severe concentration and high volatility in exchange for exposure to the market's fastest-compounding businesses. IVW suits those pairing it against IVE for a deliberate style barbell, and long-horizon investors who can tolerate a 30%+ drawdown without selling. Not appropriate as a sole equity holding.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $118.42 | -- |
| 2017 | $150.87 | +27.4% |
| 2018 | $149.36 | -1.0% |
| 2019 | $195.81 | +31.1% |
| 2020 | $260.82 | +33.2% |
| 2021 | $344.28 | +32.0% |
| 2022 | $241.34 | -29.9% |
| 2023 | $313.74 | +30.0% |
| 2024 | $426.06 | +35.8% |
| 2025 | $501.05 | +17.6% |
| Year | Yield |
|---|---|
| 2016 | 1.28% |
| 2017 | 1.18% |
| 2018 | 1.32% |
| 2019 | 1.02% |
| 2020 | 0.78% |
| 2021 | 0.62% |
| 2022 | 0.82% |
| 2023 | 0.68% |
| 2024 | 0.52% |
| 2025 | 0.42% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $14B | -- |
| 2017 | $18B | +28.6% |
| 2018 | $17B | -5.6% |
| 2019 | $26B | +52.9% |
| 2020 | $38B | +46.2% |
| 2021 | $52B | +36.8% |
| 2022 | $38B | -26.9% |
| 2023 | $52B | +36.8% |
| 2024 | $58B | +11.5% |
| 2025 | $63B | +8.6% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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