At a glance
IWX charges 0.2% a year, above the 0.09% average of the 8 funds most like it (the most expensive of 9). It has $3.56B in assets, the 7th largest of that group; it paid 1.35% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +28.4% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +24.5% a year. At its worst it fell 35.6% in the 2020 crash (S&P 500: 33.7%) and 18.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 9 months and 10 months after the lows. Its ten largest positions make up 39.0% of the fund, out of 151 in all.
The short version
iShares Russell Top 200 Value ETF (IWX) is a BlackRock index fund. It tracks the Russell Top 200 Value Index, which holds the value-leaning stocks among the largest US companies; the fund owned 151 stocks as of June 30, 2026. It sticks to giant companies, which sets it apart from broader value funds. Its 0.20% annual expense ratio was the highest of nine similar funds compared, against an average of 0.09%.
Price history
The interactive chart needs JavaScript.
IWX +28.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IWX official prospectus, to Dec 31, 2025 | — | +18.23% | — | +11.84% | +10.69% | — |
| Russell 3000 Index index, same period | — | +17.15% | — | +13.15% | +14.29% | — |
| IWX price data to Oct 27, 2026 | +25.3% | +28.4% | +24.5% | +12.9% | +12.4% | +11.8% |
- Over the year to Oct 27, 2026, IWX returned +28.4%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +12.9% and its 10-year +12.4%.
- In the 2020 COVID crash it fell 35.6% and regained its old high 9.3 months after the low.
- Its worst full calendar year was 2018 (-6.5%); its best was 2013 (+31.8%).
- The deepest fall in its price history was 35.8% (Feb 12, 2020 to Mar 23, 2020), recovered by Dec 31, 2020.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +25.3% | — |
| 2025 | +18.2% | +18.23% |
| 2024 | +14.9% | +14.92% |
| 2023 | +10.5% | +10.41% |
| 2022 | -5.3% | -5.31% |
| 2021 | +23.3% | +23.20% |
| 2020 | +1.5% | +1.48% |
| 2019 | +25.8% | +26.14% |
| 2018 | -6.5% | -6.40% |
| 2017 | +14.1% | +13.58% |
| 2016 | +15.4% | +15.91% |
| 2015 | -3.7% | — |
| 2014 | +13.2% | — |
| 2013 | +31.8% | — |
| 2012 | +16.4% | — |
| 2011 | +1.1% | — |
| 2010 | +10.6% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 35.6% over that stretch · deepest drop along the way 35.6%, back to its old high 9.3 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 16.3% over that stretch · deepest drop along the way 18.1%, back to its old high 9.8 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $1.1400 | |
| 2025 | $1.4700 | -5.8% |
| 2024 | $1.5600 | +4.7% |
| 2023 | $1.4900 | +10.4% |
| 2022 | $1.3500 | +7.1% |
| 2021 | $1.2600 | +2.4% |
| 2020 | $1.2300 | -19.1% |
| 2019 | $1.5200 | +19.7% |
| 2018 | $1.2700 | +14.4% |
| 2017 | $1.1100 | +5.7% |
| 2016 | $1.0500 | -9.5% |
| 2015 | $1.1600 | +18.4% |
| 2014 | $0.9800 | +27.3% |
| 2013 | $0.7700 | -8.3% |
| 2012 | $0.8400 | +18.3% |
| 2011 | $0.7100 | +39.2% |
| 2010 | $0.5100 |
What's inside
As of Jun 30, 2026, the fund held 151 securities; the ten largest made up 39.02% of assets.
| Holding | Weight | |
|---|---|---|
| AMAZON.COM INC | 8.32% | |
| APPLE INC | 7.53% | |
| MICROSOFT CORP | 5.44% | |
| BERKSHIRE HATHAWAY INC | 3.66% | |
| JP MORGAN CHASE & COMPANY | 3.44% | |
| INTEL CORP | 2.40% | |
| JOHNSON & JOHNSON | 2.40% | |
| EXXONMOBIL HOLDINGS CORP | 2.23% | |
| CISCO SYSTEMS INC | 1.82% | |
| WALMART INC | 1.78% | |
| ABBVIE INC | 1.61% | |
| UNITEDHEALTH GROUP INC | 1.47% | |
| BANK OF AMERICA CORP | 1.38% | |
| PROCTER & GAMBLE COMPANY (THE) | 1.34% | |
| MERCK & COMPANY INC | 1.25% |
By country
United States 96.08%Ireland 3.06%Switzerland 0.47%Curaçao 0.27%Canada 0%By asset type
Stocks 99.89%By sector
Sectors of the companies held, for the 93.8% 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 withdrew a net $293.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +8.41%, +3.23%, +1.85%.
How it works
IWX tracks the Russell Top 200 Value Index from FTSE Russell, which is part of the London Stock Exchange Group. The index starts with the Russell Top 200 Index, which covers the largest US companies. From those, it picks the ones with lower price-to-book ratios (share price compared with the company's accounting net worth), slower past sales growth and lower forecast growth. As of March 31, 2026, the value index made up about 61% of the Top 200's total market value.
Bigger companies carry more weight, but there are limits. The index rebalances quarterly, after the market closes on the third Friday of March, June, September and December. At each rebalance, no single company can be more than 22.5% of the index. Companies that are each above 4.5% can't add up to more than 45% combined.
BlackRock Fund Advisors runs the fund with representative sampling. That means it owns a set of stocks picked to match the index's overall profile, and it may not hold every index stock. It must keep at least 80% of net assets in index stocks. It may use derivatives such as futures and may lend out securities worth up to one-third of its total assets. As of June 30, 2026, cash was about 0.05% of the fund, and one Russell 1000 Value futures contract was a tiny fraction of it. The fund does not take defensive positions when markets fall.
What it really costs
- IWX charges 0.2% a year, versus an average of 0.09% for the similar funds below (9th of 9, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IWX | $20 | $64 | $113 | $255 |
In a retirement portfolio
It offers broad exposure to the largest US companies with a value tilt, though it covers only part of the stock market.
IWX could serve as a large-company US stock holding with a value tilt. It launched in 2009, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 35.6% between February 19 and March 23 and took about nine months to recover. In the 2022 bear market it fell 18.1% from January 12 to September 30 and recovered by July 24, 2023. Its worst calendar year was 2018, at -6.4%. Anyone forced to sell shares in drops like these would lock in the losses.
As of October 27, 2026, its trailing 12-month yield was 1.35%, paid quarterly. That is modest for anyone relying on income. It costs 0.20% a year, against a 0.09% average for similar funds. Past results don't predict future ones, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a value tilt limited to the biggest US companies, such as Berkshire Hathaway, JPMorgan Chase and Johnson & Johnson.
- Those who can sit through stock swings, including a 35.8% drop in early 2020 that took about nine months to recover.
- Investors who want a long record: launched in September 2009, it averaged 10.69% a year over 10 years through December 31, 2025.
Look elsewhere if
- Cost-focused investors: at 0.20% a year, it was the most expensive of nine similar funds; Vanguard Value ETF (VTV) charged 0.04%.
- Those who want the whole US market: over 10 years through 2025 it averaged 10.69% a year, against 14.29% for the Russell 3000.
- Anyone expecting a classic value fund: Amazon, Apple and Microsoft were its three largest holdings as of June 30, 2026.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| IWX this fund | — | 0.2% | $3.56B | +28.4% | +24.5% |
| IWD iShares Russell 1000 Value ETF | 71% | 0.19% | $79.74B | +28.8% | +22.2% |
| VONV Vanguard Russell 1000 Value ETF | 70% | 0.07% | $23.88B | +29.0% | +23.6% |
| GVUS Marketbeta Russell 1000 Value Equity ETF | 70% | 0.12% | $416.9M | +26.6% | — |
| ILCV iShares Morningstar Value ETF | 67% | 0.04% | $1.32B | +20.5% | +23.4% |
| VTV Vanguard Value ETF | 66% | 0.04% | $254.48B | +25.4% | +22.3% |
| MGV Vanguard Mega Cap Value ETF | 64% | 0.07% | $13.90B | +25.8% | +21.3% |
| SPYV SPDR Portfolio S&P 500 Value ETF | 64% | 0.04% | $35.30B | +16.8% | +17.8% |
Questions investors ask
Is IWX good for retirement?
It can serve as a large-company US stock holding, but it isn't built for high income or protection in downturns. As of October 27, 2026, IWX's trailing yield was 1.35%, paid quarterly. It fell 35.8% between February and March 2020 and took about nine months to recover. Over the 10 years through December 31, 2025, it averaged 10.69% a year, against 14.29% for the Russell 3000 Index.
What's the difference between IWX and IWD?
IWX holds only the largest value companies, drawn from the Russell Top 200. iShares Russell 1000 Value ETF (IWD) draws from the broader Russell 1000. About 71% of their holdings overlap. IWD costs 0.19% a year and IWX costs 0.20%. IWD had $79.7 billion in net assets as of June 30, 2026, against $3.6 billion for IWX. IWD returned 29.3% over the year to October 29, 2026. IWX returned 28.4% over the year to October 27.
Does IWX pay monthly dividends?
No. IWX pays dividends quarterly. Over the 12 months to October 27, 2026, it paid $1.54 per share, a trailing yield of 1.35%. Payouts depend on the dividends of the companies the fund holds, so they can rise or fall from one quarter to the next. Investors who want monthly income or a higher yield would need to look at other kinds of funds.
Why does IWX hold Amazon, Apple and Microsoft?
Because the index decides what the fund owns, not a manager. FTSE Russell scores companies in the Russell Top 200 on price-to-book ratio, past sales growth and forecast growth. As of June 30, 2026, Amazon, Apple and Microsoft were the fund's three largest holdings, at 8.3%, 7.5% and 5.4% of assets. That makes IWX less of a classic "cheap stocks" fund than many expect. Its top 10 holdings made up 39% of the fund.
What is IWX's expense ratio?
IWX charges 0.20% a year, according to its prospectus filed July 27, 2026. In the SEC's standard example ($10,000 invested, 5% annual return), that comes to about $20 in the first year and $255 over 10 years. That made IWX the most expensive of nine similar funds compared, where the average was 0.09%. Vanguard Mega Cap Value ETF (MGV) charged 0.07% and Vanguard Value ETF (VTV) charged 0.04%.