 The
iShares Russell Midcap Growth ETF (IWP) is an exchange-traded fund
that seeks to track the investment results of an index composed of
mid-capitalization U.S. equities that exhibit growth characteristics.
The fund employs a passive management or indexing investment strategy
and seeks to replicate the performance of the Russell Midcap Growth
Index.
The Russell Midcap Growth Index measures the performance
of mid-cap growth sector of the U.S. equity market. The index is a
subset of the Russell Midcap Index, which represents approximately the
800 smallest companies in the Russell 1000 Index. The growth component
is comprised of companies whose earnings are expected to grow at an
above-average rate relative to the market. The index is rebalanced
annually in June.
As of September 2021, the IWP had total net
assets of over $15 billion and contained approximately 300 holdings.
The fund's largest sector allocations are information technology,
health care, and consumer discretionary. The top holdings in the fund
include companies like Square, DocuSign, and Zoom Video
Communications.
The IWP charges an expense ratio of 0.24%,
which is relatively low compared to the average expense ratio of
similarly managed funds. The fund offers investors exposure to a
diversified portfolio of mid-cap U.S. companies with growth
characteristics, making it a potential option for those seeking
growth-oriented investments with moderate risk. However, investors
should be aware that this fund may experience greater volatility than
large-cap funds due to its focus on mid-cap companies.
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