ETF Evaluator:
iShares Russell Top 200 ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Large Blend Over the Last Year
| 62.5% | ARS Focused Opportunities Strategy ETF (AFOS) |
| 35.7% | Mohr Company Nav ETF (CNAV) |
| 33.9% | Impact Shares NAACP Minority Empwrmt ETF (NACP) |
| 31.8% | Astoria US Equal Weight Quality KingsETF (ROE) |
| 30.5% | FIS Bright Portfolios Focused Equity ETF (BRIF) |
Risk
Index
Risk
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ETF Details
iShares Russell Top 200 ETF Overview
iShares Russell Top 200 ETF (IWL) is a passively managed U.S. Equity Large Blend exchange-traded fund (ETF). iShares launched the ETF in 2009.
The investment seeks to track the investment results of the Russell Top 200® Index composed of large-capitalization U.S. equities.
The index measures the performance of the largest capitalization sector of the U.S. equity market, as defined by Russell. BFA uses a representative sampling indexing strategy to manage the fund. It may use derivatives to gain or reduce exposure to the components of the underlying index or exposure to one or more market risk factors associated with such components. It is non-diversified.
About iShares Russell Top 200 ETF (IWL)
There are 4 members of the management team with an average tenure of 4.50 years: Jennifer Hsui (2012), Peter Sietsema (2025), Matt Waldron (2025) and Steven White (2025). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Top 200 TR USD index with a weighting of 100%. iShares Russell Top 200 ETF has 205 securities in its portfolio. The top 10 holdings constitute 43.2% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a nondiversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
iShares Russell Top 200 ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. iShares Russell Top 200 ETF has 0.3% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.5% There is 0.3% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). iShares Russell Top 200 ETF has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $2 billion in total assets, which is below the $13 billion average for the Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
IWL Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The iShares Russell Top 200 ETF expense ratio is low compared to funds in the Large Blend category. iShares Russell Top 200 ETF has an expense ratio of 0.15%, which is 64% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. iShares Russell Top 200 ETF has a portfolio turnover rate of 3%, which indicates that it holds its assets around / 0.3 years. By way of comparison, the average portfolio turnover is 158% for the Large Blend category.
Recently, in the month of July 2026, iShares Russell Top 200 ETF returned -0.3%, which earned it a grade of C, as the Large Blend category had an average return of -0.8%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
iShares Russell Top 200 ETF has a trailing yield of 0.85%, which is below the 1.16% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
iShares Russell Top 200 ETF Grades
Year to date, the ETF has returned 8.7%, 0.9 percentage points worse than the category, which translates into a grade of D. The fund has returned 18.8% over the past year (grade of C), 20.1% over the past three years (grade of A) and 13.2% per year over the past five years (grade of A) and 15.8% per year over the past 10 years (grade of A).
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IWL Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| IWL Return (NAV) | -0.3% | 3.8% | 18.8% | 20.1% | 13.2% | 15.8% |
| IWL Return (Price) | -0.2% | 3.8% | 18.8% | 20.1% | 13.2% | 15.8% |
| NAV +/- Price Return | -0.108% | 0.019% | 0.032% | -0.007% | -0.011% | 0.007% |
| Large Blend Avg | -0.8% | 3.7% | 17.5% | 17.4% | 11.2% | 13.6% |
| IWL Grade (NAV) | C | D | C | A | A | A |
| +/- Category (NAV) | 0.5% | 0.1% | 1.3% | 2.6% | 2.1% | 2.2% |
| IWL Tax-Cost Ratio | na | na | 0.3% | 0.3% | 0.3% | 0.4% |
IWL Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| IWL Return (NAV) | 8.7% | 19.0% | 27.2% | 29.7% | -19.9% | 27.7% | 22.2% | 31.5% | -3.2% | 22.8% | 11.1% |
| IWL Return (Price) | 8.6% | 19.1% | 27.1% | 29.8% | -19.9% | 27.8% | 22.1% | 31.4% | -3.3% | 22.9% | 10.6% |
| NAV +/- Price Ret | -0.002% | 0.005% | -0.003% | 0.003% | 0.001% | 0.003% | -0.004% | -0.4% | 2.4% | 0.5% | -4.4% |
| Large Blend Avg | 9.5% | 15.3% | 21.9% | 22.9% | -17.1% | 26.9% | 18.3% | 29.6% | -5.1% | 21.5% | 11.4% |
| IWL Grade (NAV) | D | A | A | A | D | B | A | B | A | B | D |
| +/- Category | -0.9% | 3.7% | 5.3% | 6.8% | -2.8% | 0.8% | 3.8% | 1.9% | 1.9% | 1.2% | -0.2% |
| Risk Measures | |
| Beta: | 1.01 |
| R-Squared: | 99% |
| Standard Deviation: | 13.3% |
| Category Risk Index: | 0.99 |
| Category Risk Rating: | Average |
| Total Risk Index: | 1.09 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 0.9% |
| Total Assets: | $ 2,196 Mil |
| Share Class Assets: | $ 2,196 Mil |
| Turnover: | 3.0% |
| Expense Ratio: | 0.15% |
| Index Fund: | Yes |
| Index Tracked: | Russell 3000 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 14.0 years | |||
| Average Tenure: 4.5 years | |||
| Managers (Year): Hsui Jennifer (2012), Sietsema Peter (2025), Waldron Matt (2025), White Steven (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 205 |
| % in Top 10 Holdings: | 43.2% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.3% |
Portfolio Allocation |
|
| Domestic Stock: | 99.5% |
| Foreign Stock: | 0.3% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.2% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | iShares |
| Phone Number: | 800-474-2737 |
| Website: | au.ishares.com |
| Inception Date: | September 22, 2009 |
Expenses and Fees
| Expense Ratio (%): | 0.15% (Rating: Low) |
| Category Average Expense Ratio (%): | 0.41% |
