At a glance
IWD charges 0.18% a year, above the 0.1% average of the 8 funds most like it (the 7th cheapest of 9). It has $79.74B in assets, the largest of that group; it paid 1.36% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +28.8% with distributions reinvested (S&P 500: +11.5%), 2nd of those 9 funds; over three years it returned +22.2% a year. At its worst it fell 38.4% in the 2020 crash (S&P 500: 33.7%) and 19.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 8 months and 15 months after the lows. Its ten largest positions make up 27.8% of the fund, out of 870 in all.
The short version
BlackRock's iShares Russell 1000 Value ETF (IWD) tracks the Russell 1000 Value Index. That gives it exposure to hundreds of large and mid-sized U.S. companies that look cheaper and are growing more slowly than the broader market. It is the largest of its close peers, with $79.7 billion in net assets as of June 30, 2026, but its 0.18% annual fee is well above the 0.07% charged by Vanguard Russell 1000 Value ETF (VONV).
Price history
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IWD +28.8% over the year to Nov 2, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IWD official prospectus, to Dec 31, 2025 | — | +15.71% | — | +11.13% | +10.34% | — |
| Russell 3000 Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| IWD price data to Nov 2, 2026 | +24.6% | +28.8% | +22.2% | +11.5% | +12.1% | +8.9% |
- Over the year to Nov 2, 2026, IWD returned +28.8%, 2nd of 9 among similar funds.
- Its 5-year annualized return was +11.5% and its 10-year +12.1%.
- In the 2020 COVID crash it fell 38.4% and regained its old high 8.4 months after the low.
- Its worst full calendar year was 2008 (-36.5%); its best was 2013 (+32.1%).
- The deepest fall in its price history was 60.1% (Jun 4, 2007 to Mar 9, 2009), recovered by Jan 29, 2013.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +24.6% | — |
| 2025 | +15.7% | +15.71% |
| 2024 | +14.2% | +14.16% |
| 2023 | +11.4% | +11.31% |
| 2022 | -7.8% | -7.72% |
| 2021 | +24.9% | +24.92% |
| 2020 | +2.7% | +2.67% |
| 2019 | +26.1% | +26.34% |
| 2018 | -8.4% | -8.40% |
| 2017 | +13.4% | +13.47% |
| 2016 | +17.3% | +17.09% |
| 2015 | -4.0% | — |
| 2014 | +13.2% | — |
| 2013 | +32.1% | — |
| 2012 | +17.4% | — |
| 2011 | +0.1% | — |
| 2010 | +15.5% | — |
| 2009 | +19.2% | — |
| 2008 | -36.5% | — |
| 2007 | -0.7% | — |
| 2006 | +22.5% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 59.8% over that stretch · deepest drop along the way 59.8%, back to its old high 46.6 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 38.4% over that stretch · deepest drop along the way 38.4%, back to its old high 8.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.6% over that stretch · deepest drop along the way 19%, back to its old high 14.5 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.5100 | |
| 2025 | $3.5600 | +2.6% |
| 2024 | $3.4700 | +3.9% |
| 2023 | $3.3400 | +3.1% |
| 2022 | $3.2400 | +19.1% |
| 2021 | $2.7200 | -3.2% |
| 2020 | $2.8100 | -15.9% |
| 2019 | $3.3400 | +10.6% |
| 2018 | $3.0200 | +16.6% |
| 2017 | $2.5900 | +2.8% |
| 2016 | $2.5200 | +4.1% |
| 2015 | $2.4200 | +15.8% |
| 2014 | $2.0900 | +13.6% |
| 2013 | $1.8400 | +10.2% |
| 2012 | $1.6700 | +15.2% |
| 2011 | $1.4500 | +13.3% |
| 2010 | $1.2800 | -5.2% |
| 2009 | $1.3500 | -26.2% |
| 2008 | $1.8300 | -5.2% |
| 2007 | $1.9300 | +13.8% |
| 2006 | $1.6960 |
What's inside
As of Jun 30, 2026, the fund held 870 securities; the ten largest made up 27.84% of assets.
| Holding | Weight | |
|---|---|---|
| AMAZON.COM, INC. | 5.93% | |
| APPLE INC. | 5.37% | |
| MICROSOFT CORPORATION | 3.88% | |
| BERKSHIRE HATHAWAY INC. | 2.61% | |
| JPMORGAN CHASE & CO. | 2.45% | |
| INTEL CORPORATION | 1.72% | |
| JOHNSON & JOHNSON | 1.71% | |
| EXXON MOBIL CORPORATION | 1.59% | |
| CISCO SYSTEMS, INC. | 1.30% | |
| WALMART INC. | 1.27% | |
| ABBVIE INC. | 1.15% | |
| UNITEDHEALTH GROUP INCORPORATED | 1.05% | |
| BANK OF AMERICA CORPORATION | 0.98% | |
| THE PROCTER & GAMBLE COMPANY | 0.96% | |
| MERCK & CO., INC. | 0.89% |
By country
United States 95.09%Ireland 2.6%Switzerland 0.48%Bermuda 0.46%Curaçao 0.19%By asset type
Stocks 99.79%By sector
Sectors of the companies held, for the 79.4% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors added a net $627.9M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.14%, +2.93%, +2.22%.
How it works
IWD follows the Russell 1000 Value Index from FTSE Russell, an index provider independent of BlackRock. The index starts with the Russell 1000, the large and mid-sized slice of the U.S. stock market. From it, the index picks companies with lower price-to-book ratios (share price compared with balance-sheet net worth), slower past sales growth and lower forecast growth. As of March 31, 2026, these companies made up about 66% of the Russell 1000's market value.
The index is rebalanced quarterly, after the close on the third Friday of March, June, September and December. At each rebalance, no company can exceed 22.5% of the index, and companies above 4.5% can't total more than 45% combined. As of June 30, 2026, the fund had 870 holdings, with about 28% of assets in the 10 largest. The top three were Amazon (5.9%), Apple (5.4%) and Microsoft (3.9%), names some may not expect in a value fund.
BlackRock uses representative sampling. It may not hold every index stock, instead owning a mix matched to the index's size, industry and yield profile. It normally keeps at least 80% of net assets in index stocks. It may also use index futures, hold cash and lend out securities worth up to a third of total assets. Turnover (the share of holdings replaced in a year) was 14%.
What it really costs
- IWD charges 0.18% a year, versus an average of 0.1% for the similar funds below (7th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $18 in the first year and $230 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IWD | $18 | $58 | $101 | $230 |
In a retirement portfolio
With 870 holdings spanning about two-thirds of the Russell 1000's market value, it can anchor the stock side of a portfolio, though with a value tilt rather than the whole market.
IWD offered little shelter in crashes. Its deepest drop was about 60%, from June 2007 to March 2009, and it didn't regain that peak until January 2013. Its worst calendar year, 2008, brought a 36.5% loss. It fell 38% in the 2020 COVID crash but recovered by December 2020. It dropped 19% in 2022 and recovered in December 2023. Cashing in shares for income during slumps like these locks in losses, which a separate cash or bond reserve can help avoid.
Income is modest. Dividends are paid quarterly, and the yield over the past 12 months was 1.37% as of October 27, 2026. The 0.18% expense ratio (annual fee) is above the 0.10% average for similar funds. In the SEC's standard example, $10,000 would cost $18 over one year and $230 over 10 years. Past results don't predict future returns, and any plan needs to consider the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a value tilt across about 870 large and mid-sized U.S. stocks, from Amazon and Apple to JPMorgan Chase and Exxon Mobil.
- Those wanting a long record: launched in 2000, it recovered from the 2008 crisis, the 2020 crash and the 2022 bear market.
- Existing holders in taxable accounts, for whom switching to a cheaper fund such as VONV could trigger capital gains tax.
Look elsewhere if
- Cost-focused investors: the 0.18% expense ratio is above the 0.10% average for similar funds and well above VONV's 0.07%.
- Investors who need sizable income: the yield over the past 12 months was 1.37% as of October 27, 2026.
- Anyone uneasy trailing the broad market: through December 31, 2025, its 10-year average annual return was 10.34%, versus 14.29% for the Russell 3000 Index.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IWD this fund | — | 0.18% | $79.74B | +28.8% | +22.2% |
| VONV Vanguard Russell 1000 Value ETF | 90% | 0.07% | $23.88B | +29.0% | +23.6% |
| GVUS Marketbeta Russell 1000 Value Equity ETF | 90% | 0.12% | $416.9M | +26.6% | — |
| IUSV iShares Core S&P U.S. Value ETF | 72% | 0.04% | $26.46B | +16.8% | +17.8% |
| ILCV iShares Morningstar Value ETF | 71% | 0.04% | $1.32B | +20.5% | +23.4% |
| IWX iShares Russell Top 200 Value ETF | 71% | 0.2% | $3.56B | +28.4% | +24.5% |
| SPYV SPDR Portfolio S&P 500 Value ETF | 70% | 0.04% | $35.30B | +16.8% | +17.8% |
| IVE iShares S&P 500 Value ETF | 70% | 0.18% | $47.74B | +16.7% | +17.7% |
Questions investors ask
Is IWD good for retirement?
It can serve as a core stock holding, but it isn't a low-risk fund. IWD spreads money across about 870 large and mid-sized U.S. value stocks for an expense ratio of 0.18%. It pays dividends quarterly, with a 1.37% yield as of October 27, 2026. It is still a stock fund: it lost about 60% from June 2007 to March 2009 and didn't recover until January 2013. Past results don't predict future ones, and any plan needs to consider the whole portfolio.
What's the difference between IWD and VONV?
Mainly cost. Vanguard Russell 1000 Value ETF (VONV) follows the same strategy but charges 0.07% a year, versus 0.18% for IWD. As of October 27, 2026, VONV returned 26.7% over one year and 24.0% a year over three years, slightly ahead of IWD's 26.5% and 23.8%. IWD is far larger, with $79.7 billion in net assets as of June 30, 2026, against $21.5 billion for VONV as of May 31, 2026.
How often does IWD pay dividends?
IWD pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $3.53 per share, a yield of 1.37%. That is modest income, since the fund aims to track its index rather than to maximize payouts. Dividends come from the companies it holds, such as JPMorgan Chase, Johnson & Johnson and Exxon Mobil, so the amount can change from quarter to quarter.
Has IWD beaten the overall stock market?
Not over the one-, five- and 10-year periods shown in its prospectus. Through December 31, 2025, its average annual returns were 15.71%, 11.13% and 10.34%. The Russell 3000 Index, a broad U.S. market measure, returned 17.15%, 13.15% and 14.29% over the same periods. The prospectus warns that value stocks may lag for long periods. Based on share prices, IWD returned 26.5% in the year to October 27, 2026.
Why does a value ETF like IWD hold Amazon and Apple?
Because they are in the Russell 1000 Value Index, and IWD follows that index rather than picking stocks itself. FTSE Russell decides membership using price-to-book ratios, past sales growth and forecast growth, compared across the whole Russell 1000. As of June 30, 2026, Amazon (5.9%), Apple (5.4%) and Microsoft (3.9%) were the fund's three largest holdings. Anyone who also owns a broad-market or growth fund may hold these companies twice, so checking overlap is worthwhile.