Overview
The long-standing benchmark for US large-cap value, drawing from the Russell 1000 rather than the S&P 500 — a broader universe of roughly 850 holdings with no profitability screen.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| BRK.B | Berkshire Hathaway | 3.2% |
| JPM | JPMorgan Chase | 2.9% |
| XOM | Exxon Mobil | 2.4% |
| JNJ | Johnson & Johnson | 2.0% |
| PG | Procter & Gamble | 1.9% |
| UNH | UnitedHealth Group | 1.8% |
| BAC | Bank of America | 1.7% |
| CVX | Chevron Corp. | 1.6% |
| ABBV | AbbVie Inc. | 1.5% |
| WFC | Wells Fargo | 1.4% |
Fund Details
Investment Thesis
IWD tracks the index most institutional value managers are measured against, which makes it the reference point for the entire US value category. Its Russell 1000 universe reaches further down the market-cap scale and applies no profitability screen, so it holds more companies and accepts lower-quality names than S&P-based alternatives such as IVE. That broader reach means more genuine value exposure but also more exposure to value traps.
Who It's For
Investors who want the institutional-standard value benchmark, and those who prefer breadth over the quality filter implicit in S&P 500 membership. IWD is widely used as the value sleeve in style-box portfolio construction. The 0.19% fee is meaningfully higher than Vanguard's VTV for similar exposure, so cost-sensitive investors should compare the two directly.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | $105.82 | -- |
| 2017 | $123.81 | +17.0% |
| 2018 | $117.12 | -5.4% |
| 2019 | $147.11 | +25.6% |
| 2020 | $150.49 | +2.3% |
| 2021 | $189.47 | +25.9% |
| 2022 | $185.49 | -2.1% |
| 2023 | $202.55 | +9.2% |
| 2024 | $231.11 | +14.1% |
| 2025 | $258.39 | +11.8% |
| Year | Yield |
|---|---|
| 2016 | 2.44% |
| 2017 | 2.30% |
| 2018 | 2.64% |
| 2019 | 2.50% |
| 2020 | 2.44% |
| 2021 | 2.14% |
| 2022 | 2.30% |
| 2023 | 2.44% |
| 2024 | 2.20% |
| 2025 | 1.92% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | $14B | -- |
| 2017 | $18B | +28.6% |
| 2018 | $16B | -11.1% |
| 2019 | $21B | +31.2% |
| 2020 | $24B | +14.3% |
| 2021 | $32B | +33.3% |
| 2022 | $28B | -12.5% |
| 2023 | $36B | +28.6% |
| 2024 | $48B | +33.3% |
| 2025 | $61B | +27.1% |
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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