Robert Izquierdo, The Motley Fool
Mon, May 11, 2026 at 11:07 AM CDT
The Vanguard Russell 1000 Growth ETF (NASDAQ:VONG) focuses on large-cap leaders with lower costs, while the iShares Russell 2000 Growth ETF (NYSEMKT:IWO) targets smaller, more volatile growth companies with higher recent returns.
Investors seeking growth often choose between the stability of dominant large-cap leaders and the high‑octane potential of smaller firms. While both funds target growth characteristics, their market‑cap focus leads to different volatility profiles. This comparison examines how a large‑cap growth powerhouse matches up against a small‑cap growth specialist, looking at whether higher recent returns justify the additional risk.
Metric
| 指標 | VONG | IWO |
|---|---|---|
| 發行者 | Vanguard | iShares |
| 管理費比例 | 0.06% | 0.24% |
| 1年回報 (截至 2026/5/6) | 32.6% | 41.3% |
| 配息殖利率 | 0.4% | 0.4% |
| Beta | 1.15 | 1.46 |
| 資產規模 (AUM) | $50.6 billion | $14.3 billion |
Beta measures price volatility relative to the S&P 500; beta is calculated from five‑year monthly returns. The 1‑yr return represents total return over the trailing 12 months. Dividend yield is the trailing‑12‑month distribution yield.
The Vanguard fund is significantly more affordable, maintaining an expense ratio of 0.06% compared to the 0.24% charged by the iShares fund. This 0.18 percentage‑point gap means the iShares fund costs four times as much annually as its large‑cap counterpart, which can impact total returns over long horizons. Both ETFs offer an identical trailing‑12‑month distribution yield of 0.4%.
Metric
| 指標 | VONG | IWO |
|---|---|---|
| 5年最大回撤 | (32.7%) | (40.5%) |
| 5年$1,000成長 (總回報) | $1,974 | $1,294 |
The iShares Russell 2000 Growth ETF provides exposure to 1,093 small‑cap stocks, focusing on healthcare at 25%, technology at 22%, and industrials at 21%. Its largest positions include Bloom Energy (NYSE:BE) at 3.71%, Credo Technology Group (NASDAQ:CRDO) at 1.79%, and Sterling Infrastructure (NASDAQ:STRL) at 1.38%. Launched in 2000, it has a trailing‑12‑month dividend of $1.51 per share and tracks smaller firms with high growth potential but often less established track records.
In contrast, the Vanguard Russell 1000 Growth ETF takes a more concentrated approach with 394 stocks, leaning heavily into technology at 51%, consumer cyclical at 13%, and communication services at 12%. Top holdings include NVIDIA (NASDAQ:NVDA) at 12.90%, Apple (NASDAQ:AAPL) at 11.61%, and Microsoft (NASDAQ:MSFT) at 8.80%. Launched in 2010, the fund has paid $0.56 per share over the trailing 12 months and emphasizes dominant large‑cap firms that often have greater access to capital and more stable cash flows.
Both ETFs aim to capture growth but differ markedly in cost structure, volatility, and composition. Investors must weigh the lower expense ratio and steadier cash flows of the Vanguard fund against the higher recent returns and heightened risk profile of the iShares fund.
分析師觀點
以我多年觀察成長型ETF的視角來看，投資者在選擇VONG與IWO時，除了要看管理費與回報率，更應注意到宏觀環境與產業週期的交錯影響。大型科技股的估值往往在利率上升時受壓，而小型成長股則可能因資金流向風險資產而更容易出現放大波動。若您偏好穩健累積與低成本，VONG是合適的核心持倉；若願意承受較高波動以追求更快速的資本增長，IWO則提供了額外的收益機會。最終，資產配置的決策應兼顧個人風險承受度與長期目標，保持適度的分散與定期檢視組合表現將是關鍵。