iShares Russell Mid-Cap Growth ETF

The iShares Russell Mid-Cap Growth ETF (IWP) is a BlackRock index fund that tracks the Russell Midcap Growth Index. It gives one-trade access to about 266 faster-growing US mid-sized companies, such as Datadog, Snowflake and Cloudflare (as of June 30, 2026). Its 0.23% yearly fee is well above the 0.13% average of similar funds, and its growth tilt has brought sharp swings, including a 57% fall in the 2008 financial crisis.

• Over the year to Nov 2, 2026, IWP returned -8.0%, 9th of 9 among similar funds.
• Its 5-year annualized return was +2.0% and its 10-year +11.6%.
• In the 2020 COVID crash it fell 35.9% and regained its old high 3.5 months after the low.
• Its worst full calendar year was 2008 (-44.6%); its best was 2009 (+46.5%).
• The deepest fall in its price history was 57% (Oct 9, 2007 to Nov 20, 2008), recovered by Jan 14, 2011.

As of Jun 30, 2026, the fund held 266 securities; the ten largest made up 19.71% of assets. It also reported 3.81% in a money-market fund, most likely cash collateral from lending out shares rather than uninvested money.

By sector

• Over the three months to Jun 30, 2026, investors added a net $244.8M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +6.45%, +4.74%, +2.68%.

IWP tracks the Russell Midcap Growth Index from FTSE Russell. The index starts with the Russell Midcap Index of mid-sized US companies and picks those with growth traits: higher price-to-book ratios (share price relative to accounting net worth), faster past sales growth per share and higher forecast growth. As of March 31, 2026, the growth index covered about 41% of the Russell Midcap Index's market value, with a significant share in consumer goods and services, industrials and technology.

The index rebalances (resets its members and weights) quarterly, after the close on the third Friday of March, June, September and December. No company can exceed 22.5%, and companies above 4.5% each are capped at 45% combined. As of June 30, 2026, the fund held 266 stocks; the top 10, led by Datadog and Snowflake at about 2.3% each, made up about 20% of assets.

BlackRock uses representative sampling: instead of owning every index stock, the fund may hold a sample chosen to match the index's overall traits. It normally keeps at least 80% of net assets in index stocks and may use futures (contracts tied to an index), cash and money market funds to help track it. It may lend up to one-third of its assets. It does not try to beat the index or turn defensive when markets fall.

• IWP charges 0.23% a year, versus an average of 0.13% for the similar funds below (8th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $24 in the first year and $293 over 10 years (assuming a 5% annual return).

Its focus on mid-sized growth stocks, larger-than-market swings and a 57% drop in the 2008 crisis suit a smaller slice of a portfolio better than a foundation.

IWP could add faster-growing mid-sized companies to a portfolio built around large companies, but its falls have been steep. It dropped 57% from October 2007 to November 2008, then took about 26 months to recover. It lost 36% in the 2020 COVID crash and recovered in about 3.5 months. It fell 34% in the 2022 bear market and took about 21 months to recover. Its worst calendar year was 2008, at -44.6%. Anyone drawing money in a year like that would be cashing in shares at depressed prices.

Income is minimal: a 0.38% trailing 12-month yield as of October 29, 2026, paid quarterly. It costs 0.23% a year, above the 0.13% average for similar funds; the SEC's standard example puts that at $293 over 10 years on $10,000. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.