At a glance
IWR charges 0.18% a year, above the 0.16% average of the 8 funds most like it (the 6th cheapest of 9). It has $56.98B in assets, the 2nd largest of that group; it paid 1.15% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +16.6% with distributions reinvested (S&P 500: +11.5%), 4th of those 9 funds; over three years it returned +19.3% a year. At its worst it fell 40.6% in the 2020 crash (S&P 500: 33.7%) and 24.2% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months and 17 months after the lows. Its ten largest positions make up 5.6% of the fund, out of 824 in all.
The short version
The iShares Russell Midcap ETF (IWR) is a BlackRock index fund that tracks the Russell Midcap Index: the 806 smallest of the large and mid-size US companies in the Russell 1000. It spreads money across 824 holdings, and the 10 largest made up only about 5.6% of assets as of June 30, 2026. Its 0.18% yearly fee is higher than the 0.04% at Vanguard Mid-Cap ETF (VO) and iShares Morningstar Mid-Cap ETF (IMCB).
Price history
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IWR +16.6% 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 | |
|---|---|---|---|---|---|---|
| IWR official prospectus, to Dec 31, 2025 | — | +10.42% | — | +8.50% | +10.84% | — |
| Russell 3000 Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| Russell Midcap Index index, same period | — | +10.60% | — | +8.67% | +11.01% | — |
| IWR price data to Nov 2, 2026 | +15.6% | +16.6% | +19.3% | +7.1% | +11.9% | +9.6% |
- Over the year to Nov 2, 2026, IWR returned +16.6%, 4th of 9 among similar funds.
- Its 5-year annualized return was +7.1% and its 10-year +11.9%.
- In the 2020 COVID crash it fell 40.6% and regained its old high 6.7 months after the low.
- Its worst full calendar year was 2008 (-41.4%); its best was 2009 (+40.6%).
- The deepest fall in its price history was 59% (Jul 13, 2007 to Mar 9, 2009), recovered by Feb 8, 2011.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +15.6% | — |
| 2025 | +10.4% | +10.42% |
| 2024 | +15.2% | +15.14% |
| 2023 | +17.1% | +17.07% |
| 2022 | -17.5% | -17.43% |
| 2021 | +22.4% | +22.38% |
| 2020 | +16.9% | +16.91% |
| 2019 | +30.2% | +30.31% |
| 2018 | -9.1% | -9.13% |
| 2017 | +18.3% | +18.32% |
| 2016 | +13.7% | +13.58% |
| 2015 | -2.6% | — |
| 2014 | +13.0% | — |
| 2013 | +34.5% | — |
| 2012 | +17.1% | — |
| 2011 | -1.8% | — |
| 2010 | +25.4% | — |
| 2009 | +40.6% | — |
| 2008 | -41.4% | — |
| 2007 | +3.9% | — |
| 2006 | +14.2% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 58.6% over that stretch · deepest drop along the way 58.6%, back to its old high 23 months after the low |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 40.5% over that stretch · deepest drop along the way 40.6%, back to its old high 6.7 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 23.6% over that stretch · deepest drop along the way 24.2%, back to its old high 16.9 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.8800 | |
| 2025 | $1.2300 | +9.8% |
| 2024 | $1.1200 | 0.0% |
| 2023 | $1.1200 | +3.7% |
| 2022 | $1.0800 | +25.6% |
| 2021 | $0.8600 | -2.3% |
| 2020 | $0.8800 | +4.8% |
| 2019 | $0.8400 | -8.2% |
| 2018 | $0.9150 | +15.8% |
| 2017 | $0.7900 | +2.9% |
| 2016 | $0.7675 | +20.4% |
| 2015 | $0.6375 | +5.8% |
| 2014 | $0.6025 | +22.3% |
| 2013 | $0.4925 | -3.9% |
| 2012 | $0.5125 | +30.6% |
| 2011 | $0.3925 | +6.1% |
| 2010 | $0.3700 | +19.4% |
| 2009 | $0.3100 | 0.0% |
| 2008 | $0.3100 | +249.1% |
| 2007 | $0.0888 | +8.2% |
| 2006 | $0.0821 |
What's inside
As of Jun 30, 2026, the fund held 824 securities; the ten largest made up 5.57% of assets, and 2.61% sat in cash and money-market holdings.
| Holding | Weight | |
|---|---|---|
| Datadog, Inc. | 0.62% | |
| Snowflake, Inc. | 0.61% | |
| Royal Caribbean Cruises Ltd. | 0.58% | |
| Cloudflare, Inc. | 0.56% | |
| Robinhood Markets, Inc. | 0.56% | |
| Teradyne, Inc. | 0.55% | |
| Marathon Petroleum Corp. | 0.54% | |
| Astera Labs, Inc. | 0.53% | |
| Simon Property Group, Inc. | 0.52% | |
| United Rentals, Inc. | 0.51% | |
| Coherent Corp. | 0.50% | |
| Comfort Systems USA, Inc. | 0.50% | |
| Phillips 66 | 0.49% | |
| Warner Bros Discovery, Inc. | 0.46% | |
| Digital Realty Trust, Inc. | 0.45% |
By country
United States 92.8%Bermuda 1.32%Ireland 1.15%Cayman Islands 0.93%United Kingdom 0.75%By asset type
Stocks 99.8%Other 0%By sector
Sectors of the companies held, for the 44.1% 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 $2.10B (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +7.32%, +2.84%, +3.09%.
How it works
IWR follows FTSE Russell's Russell Midcap Index. The index takes the Russell 1000, which covers large and mid-size US companies, and keeps the smallest. As of March 31, 2026, that meant 806 companies, about 27% of the Russell 1000's total market value. Each company is weighted by its float-adjusted market value, which counts only freely traded shares, so bigger companies carry more weight. FTSE Russell, not BlackRock, sets the list, which changes over time.
BlackRock uses representative sampling: the fund holds a mix of stocks chosen to match the index's company sizes, industry weights, yield and other traits, without necessarily owning every one. It had 824 holdings as of June 30, 2026. Normally, at least 80% of net assets must be in index stocks. It may also hold cash, money market funds and index futures (contracts tied to a stock index) to track closely. Portfolio turnover, roughly the share of the portfolio replaced in a year, was 11%.
The fund does not try to beat the index or turn defensive in falling markets. It may lend out up to one-third of its assets for a fee, backed by collateral. It also leans toward industries as heavily as the index does; as of March 31, 2026, consumer goods and services and industrial companies made up a significant portion.
What it really costs
- IWR charges 0.18% a year, versus an average of 0.16% for the similar funds below (6th 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 |
|---|---|---|---|---|
| IWR | $18 | $58 | $101 | $230 |
In a retirement portfolio
It adds hundreds of mid-size companies that carry small weights in large-company funds, but it diversifies within stocks, not away from them, and has fallen sharply in crashes.
IWR widens a stock portfolio beyond the biggest companies, but it can fall hard. From July 2007 to March 2009 it lost about 59%, and it did not regain its earlier high until February 2011. Its worst calendar year since 2005 was 2008, down about 41%. It fell about 41% in the 2020 COVID crash and recovered by October 2020; it fell about 24% in the 2022 downturn and recovered only in February 2024. Withdrawals in such years would have meant cashing out near the lows.
Income is modest: a 1.15% yield over the 12 months to October 27, 2026, paid quarterly. The 0.18% yearly fee is above the 0.16% average of similar funds; in the SEC's standard example, that comes to $230 over 10 years on $10,000. Past results don't predict the future, and a retirement plan needs to consider the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who mainly own large-company funds and want hundreds of mid-size firms, such as Datadog and United Rentals, in one low-turnover fund.
- Those who want a large, established fund: about $57 billion in net assets as of June 30, 2026, with a record back to 2001.
- Those wanting a plain index fund that tracks closely: 10.84% a year over 10 years versus the index's 11.01%, through December 31, 2025.
Look elsewhere if
- Cost-focused investors: the 0.18% fee is well above the 0.04% charged by Vanguard Mid-Cap ETF (VO) and iShares Morningstar Mid-Cap ETF (IMCB).
- Income seekers: the yield was a modest 1.15% over the 12 months to October 27, 2026, paid quarterly.
- Anyone needing the money within a few years: the fund fell about 59% from 2007 to 2009 and about 24% in 2022.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IWR this fund | — | 0.18% | $56.98B | +16.6% | +19.3% |
| IWS iShares Russell Mid-Cap Value ETF | 70% | 0.23% | $15.65B | +25.6% | +20.7% |
| IMCB iShares Morningstar Mid-Cap ETF | 65% | 0.04% | $1.66B | +18.7% | +22.2% |
| CVMC Calvert US Mid-Cap Core Responsible Index E… | 64% | 0.15% | $102.8M | +18.6% | +21.1% |
| AVMC Avantis U.S. Mid Cap Equity ETF | 63% | 0.18% | $495.9M | +13.5% | — |
| JHMM John Hancock Multifactor Mid Cap ETF | 63% | 0.42% | $5.81B | +13.2% | +19.7% |
| VO Vanguard Mid-Cap ETF | 55% | 0.04% | $224.06B | +15.5% | +20.7% |
| SIZE iShares MSCI USA Size Factor ETF | 52% | 0.15% | $428.8M | +12.2% | +19.6% |
Questions investors ask
What's the difference between IWR and VO?
The main differences are cost and holdings. IWR charges 0.18% a year, while Vanguard Mid-Cap ETF (VO) charges 0.04%. Their holdings overlap by about 55%, according to their latest SEC holdings reports. VO is far larger, with about $224 billion in net assets versus about $57 billion for IWR as of June 30, 2026. Returns have been close: about 20.9% a year for both over the three years to October 27, 2026, though IWR led over one year, 14.4% to 12.9%.
Is IWR a good investment for retirement?
It can play a role, mainly as the mid-size slice of a stock portfolio, but it carries full stock-market risk. IWR had 824 holdings as of June 30, 2026, charges 0.18% a year and pays dividends quarterly, with a 1.15% yield over the 12 months to October 27, 2026. It fell about 59% from July 2007 to March 2009 and did not recover until February 2011, so it may suit money that can stay invested through long slumps.
What are IWR's top 10 holdings?
As of June 30, 2026, IWR's largest holdings were Datadog, Snowflake, Royal Caribbean Cruises, Cloudflare and Robinhood Markets, each about 0.6% of assets. The rest of the top 10 were Teradyne, Marathon Petroleum, Astera Labs, Simon Property Group and United Rentals. Together, the top 10 were only about 5.6% of assets, so no single company dominates. Because the index is weighted by market value, the leaders change as share prices move.
What is IWR's expense ratio?
IWR's expense ratio is 0.18% a year, per its prospectus filed July 27, 2026. The expense ratio is the yearly fee taken from fund assets. In the SEC's standard example, an investor with $10,000 earning 5% a year would pay about $18 in the first year and $230 over 10 years. That is above the 0.16% average of similar funds and well above the 0.04% at Vanguard Mid-Cap ETF (VO) and iShares Morningstar Mid-Cap ETF (IMCB).
How has IWR performed over the last 10 years?
IWR returned 10.84% a year over the 10 years to December 31, 2025, close to the Russell Midcap Index's 11.01%, according to its prospectus. It trailed the broader Russell 3000 Index, which returned 14.29% a year over the same period, and also lagged it over one and five years. From 2016 through 2025, yearly results ranged from a 30.31% gain in 2019 to a 17.43% loss in 2022. Through October 27, 2026, it was up about 15.6% year to date.