Inflation-Adjusted Russell 1000 Growth ETF (IWF)

The iShares Russell 1000 Growth ETF (IWF) tracks the Russell 1000 Growth Index, providing investors with targeted exposure to large-cap US companies that exhibit strong growth characteristics and earnings potential.

Growth stock performance often appears remarkable in nominal terms, but these gains can be misleading without considering inflation's impact on real purchasing power. This page adjusts IWF's historical prices for inflation using the US Consumer Price Index, revealing the ETF's true performance in constant dollar terms.

Nominal prices are adjusted for stock splits and assume reinvestment of any dividends to reflect total return. Inflation-adjusted prices use March 2026 as the baseline (latest available CPI).

The current value of the iShares Russell 1000 Growth ETF is 120.05 (as of the close of May 1, 2026), 1.6% lower than the all-time high of 122 (Oct 29, 2025).

While the nominal high reached 122, the inflation-adjusted peak value was 123.35 on November 3, 2025.

Since May 26, 2000, the inflation-adjusted total return for the ETF has been 822.27%, which is equivalent to an annual growth rate of 8.95%.

In nominal values, the total return since this date has been 1,676%, or an annualized rate of 11.73%.

Inflation-Adjusted Values by Month

This data presents the ETF's end-of-month closing levels over time. Inflation-adjusted figures show what past levels would be worth using roughly today's purchasing power based on the latest CPI data, following the same present-value method that underlies the US Inflation Calculator. The latest entry in the table will have equal nominal and adjusted values until the next CPI figures are released.

Date Inflation-Adjusted Nominal value
May 2026 120.05 120.05
Apr 2026 119.27 119.27
Mar 2026 106.6 106.6
Feb 2026 113.33 112.15
Jan 2026 117.85 116.08
Dec 2025 120.15 117.91
Nov 2025 120.44 118.22
Oct 2025 120.48 120.48
Sep 2025 118.16 116.22
Aug 2025 112.27 110.15
Jul 2025 111.29 108.87
Jun 2025 107.45 104.96
May 2025 101.04 98.36
Apr 2025 92.97 90.32
Mar 2025 91.81 88.92
Feb 2025 100.13 96.76
Jan 2025 104.32 100.36
Dec 2024 103.02 98.47
Nov 2024 101.83 97.29
Oct 2024 95.53 91.32
Sep 2024 96.01 91.67
Aug 2024 93.06 88.72
Jul 2024 91.29 86.96
Jun 2024 93.01 88.49
May 2024 86.96 82.71
Apr 2024 82.16 78.01
Mar 2024 86.11 81.44
Feb 2024 84.7 79.6
Jan 2024 79.93 74.65
Dec 2023 78.45 72.87
Nov 2023 75.03 69.77
Oct 2023 67.48 62.87
Sep 2023 68.45 63.8
Aug 2023 72.17 67.11
Jul 2023 73.19 67.76
Jun 2023 70.89 65.5
May 2023 66.39 61.15
Apr 2023 63.58 58.41
Mar 2023 63.25 57.82
Feb 2023 59.04 53.79
Jan 2023 60.09 54.44
Dec 2022 55.91 50.25
Nov 2022 59.92 54.02
Oct 2022 57.28 51.69
Sep 2022 54.36 48.86
Aug 2022 59.87 53.7
Jul 2022 62.78 56.33
Jun 2022 56 50.25
May 2022 61.42 54.37
Apr 2022 63.55 55.64
Mar 2022 72.79 63.37
Feb 2022 70.63 60.69
Jan 2022 74.38 63.32
Dec 2021 82.13 69.35
Nov 2021 80.42 67.69
Oct 2021 80.31 67.27
Sep 2021 74.47 61.86
Aug 2021 78.76 65.25
Jul 2021 76.15 62.95
Jun 2021 74.01 60.89
May 2021 70.15 57.19
Apr 2021 71.7 57.99
Mar 2021 67.65 54.26
Feb 2021 66.65 53.08
Jan 2021 67.03 53.1
Dec 2020 67.85 53.52
Nov 2020 64.71 51
Oct 2020 58.61 46.22
Sep 2020 60.68 47.83
Aug 2020 63.34 49.86
Jul 2020 57.68 45.26
Jun 2020 53.78 41.99
May 2020 51.52 40.01
Apr 2020 48.3 37.5
Mar 2020 41.83 32.7
Feb 2020 46 36.03
Jan 2020 49.4 38.59
Dec 2019 48.49 37.74
Nov 2019 46.72 36.39
Oct 2019 44.71 34.85
Sep 2019 43.58 33.89
Aug 2019 43.24 33.59
Jul 2019 43.61 33.89
Jun 2019 42.61 33.05
May 2019 39.69 30.78
Apr 2019 42.43 32.84
Mar 2019 40.84 31.44
Feb 2019 39.61 30.32
Jan 2019 38.4 29.27
Dec 2018 35.34 26.89
Nov 2018 38.12 29.09
Oct 2018 37.66 28.84
Sep 2018 41.42 31.66
Aug 2018 40.89 31.22
Jul 2018 38.8 29.61
Jun 2018 37.39 28.53
May 2018 37.09 28.26
Apr 2018 35.68 27.07
Mar 2018 35.73 27
Feb 2018 36.5 27.52
Jan 2018 37.64 28.26
Dec 2017 35.39 26.42
Nov 2017 34.77 25.97
Oct 2017 33.77 25.23
Sep 2017 32.48 24.28
Aug 2017 31.98 23.77
Jul 2017 31.5 23.35
Jun 2017 30.35 22.52
May 2017 30.46 22.58
Apr 2017 29.72 22.01
Mar 2017 29.16 21.53
Feb 2017 28.58 21.09
Jan 2017 27.55 20.26
Dec 2016 26.83 19.61
Nov 2016 26.18 19.14
Oct 2016 25.58 18.73
Sep 2016 26.23 19.17
Aug 2016 25.97 18.94
Jul 2016 26.13 19.04
Jun 2016 24.62 17.97
May 2016 24.81 18.05
Apr 2016 24.43 17.7
Mar 2016 24.77 17.86
Feb 2016 23.05 16.55
Jan 2016 23.07 16.55
Dec 2015 24.5 17.55
Nov 2015 24.52 17.62
Oct 2015 24.39 17.57
Sep 2015 22.43 16.16
Aug 2015 22.77 16.43
Jul 2015 24.22 17.5
Jun 2015 23.18 16.75
May 2015 23.68 17.05
Apr 2015 23.49 16.83
Mar 2015 23.41 16.74
Feb 2015 23.6 16.77
Jan 2015 22.24 15.74
Dec 2014 22.46 15.97
Nov 2014 22.33 15.97
Oct 2014 21.5 15.46
Sep 2014 20.92 15.08
Aug 2014 21.05 15.16
Jul 2014 20.11 14.51
Jun 2014 20.19 14.57
May 2014 19.85 14.3
Apr 2014 19.33 13.88
Mar 2014 19.38 13.87
Feb 2014 19.51 13.87
Jan 2014 18.63 13.2
Dec 2013 19.26 13.59
Nov 2013 18.51 13.07
Oct 2013 17.98 12.72
Sep 2013 17.18 12.18
Aug 2013 16.31 11.55
Jul 2013 16.62 11.75
Jun 2013 15.57 11.01
May 2013 15.94 11.24
Apr 2013 15.66 11.03
Mar 2013 15.32 10.8
Feb 2013 14.66 10.31
Jan 2013 14.62 10.2
Dec 2012 14.07 9.78
Nov 2012 13.78 9.6
Oct 2012 13.47 9.44
Sep 2012 13.88 9.72
Aug 2012 13.59 9.48
Jul 2012 13.23 9.18
Jun 2012 13.07 9.08
May 2012 12.56 8.74
Apr 2012 13.41 9.34
Mar 2012 13.47 9.35
Feb 2012 13.02 8.98
Jan 2012 12.49 8.57
Dec 2011 11.83 8.09
Nov 2011 11.69 8.01
Oct 2011 11.69 8.02
Sep 2011 10.53 7.24
Aug 2011 11.27 7.73
Jul 2011 11.94 8.17
Jun 2011 11.94 8.16
May 2011 12.1 8.28
Apr 2011 12.3 8.38
Mar 2011 11.98 8.11
Feb 2011 11.98 8.03
Jan 2011 11.64 7.77
Dec 2010 11.42 7.58
Nov 2010 10.74 7.11
Oct 2010 10.62 7.04
Sep 2010 10.14 6.71
Aug 2010 9.09 6.01
Jul 2010 9.55 6.3
Jun 2010 8.79 5.81
May 2010 9.29 6.14
Apr 2010 10.07 6.65
Mar 2010 9.98 6.58
Feb 2010 9.39 6.17
Jan 2010 9.08 5.96
Dec 2009 9.54 6.24
Nov 2009 9.13 5.98
Oct 2009 8.6 5.63
Sep 2009 8.72 5.71
Aug 2009 8.31 5.43
Jul 2009 8.17 5.33
Jun 2009 7.5 4.9
May 2009 7.5 4.86
Apr 2009 7.15 4.62
Mar 2009 6.51 4.19
Feb 2009 5.94 3.82
Jan 2009 6.46 4.13
Dec 2008 6.84 4.35
Nov 2008 6.56 4.22
Oct 2008 7.02 4.61
Sep 2008 8.45 5.6
Aug 2008 9.39 6.23
Jul 2008 9.24 6.15
Jun 2008 9.4 6.23
May 2008 10.2 6.69
Apr 2008 9.96 6.48
Mar 2008 9.49 6.14
Feb 2008 9.58 6.14
Jan 2008 9.77 6.24
Dec 2007 10.66 6.78
Nov 2007 10.65 6.78
Oct 2007 11.09 7.02
Sep 2007 10.8 6.82
Aug 2007 10.28 6.47
Jul 2007 10.14 6.4
Jun 2007 10.28 6.49
May 2007 10.4 6.55
Apr 2007 10.09 6.32
Mar 2007 9.71 6.04
Feb 2007 9.67 5.96
Jan 2007 9.9 6.07
Dec 2006 9.67 5.91
Nov 2006 9.61 5.86
Oct 2006 9.41 5.75
Sep 2006 9.03 5.55
Aug 2006 8.67 5.36
Jul 2006 8.45 5.21
Jun 2006 8.65 5.32
May 2006 8.61 5.28
Apr 2006 8.99 5.48
Mar 2006 9.09 5.5
Feb 2006 8.9 5.36
Jan 2006 8.9 5.34
Dec 2005 8.85 5.27
Nov 2005 8.79 5.26
Oct 2005 8.33 5.03
Sep 2005 8.47 5.1
Aug 2005 8.48 5.04
Jul 2005 8.65 5.12
Jun 2005 8.27 4.87
May 2005 8.27 4.87
Apr 2005 7.87 4.64
Mar 2005 8.07 4.72
Feb 2005 8.24 4.79
Jan 2005 8.19 4.73
Dec 2004 8.5 4.9
Nov 2004 8.04 4.65
Oct 2004 7.74 4.47
Sep 2004 7.67 4.41
Aug 2004 7.56 4.34
Jul 2004 7.65 4.39
Jun 2004 8.06 4.63
May 2004 7.97 4.57
Apr 2004 7.87 4.48
Mar 2004 7.98 4.53
Feb 2004 8.15 4.59
Jan 2004 8.14 4.57
Dec 2003 8.01 4.47
Nov 2003 7.55 4.22
Oct 2003 7.46 4.18
Sep 2003 7.08 3.97
Aug 2003 7.13 3.98
Jul 2003 6.99 3.89
Jun 2003 6.82 3.8
May 2003 6.71 3.73
Apr 2003 6.37 3.54
Mar 2003 5.89 3.29
Feb 2003 5.8 3.22
Jan 2003 5.86 3.23
Dec 2002 6.04 3.31
Nov 2002 6.44 3.53
Oct 2002 6.09 3.34
Sep 2002 5.63 3.08
Aug 2002 6.21 3.4
Jul 2002 6.24 3.4
Jun 2002 6.59 3.59
May 2002 7.23 3.94
Apr 2002 7.43 4.04
Mar 2002 8.15 4.41
Feb 2002 7.9 4.26
Jan 2002 8.23 4.41
Dec 2001 8.41 4.5
Nov 2001 8.37 4.5
Oct 2001 7.64 4.11
Sep 2001 7.2 3.89
Aug 2001 8.02 4.31
Jul 2001 8.73 4.69
Jun 2001 9.04 4.87
May 2001 9.16 4.93
Apr 2001 9.33 5
Mar 2001 8.29 4.42
Feb 2001 9.31 4.96
Jan 2001 11.37 6.03
Dec 2000 10.66 5.62
Nov 2000 10.96 5.78
Oct 2000 12.87 6.78
Sep 2000 13.61 7.16
Aug 2000 15.06 7.88
Jul 2000 13.76 7.2
Jun 2000 14.36 7.5
May 2000 13.68 7.1

Returns from Investing in the iShares Russell 1000 Growth ETF

How much did an investment in the IWF ETF really grow each year after accounting for inflation? The following chart contains the inflation-adjusted real annual percentage returns.

Detailed Annual Returns (Adjusted vs. Nominal)

The table below shows the returns for the iShares Russell 1000 Growth ETF by year, both inflation-adjusted and nominal. You can sort any column by clicking on the header.

Observe how inflation erodes nominal gains, sometimes resulting in a negative real return even when the ETF nominally increased, as in 2018.

Year Inflation-Adjusted Return Nominal Return
2024 31.33% 35.12%
2023 40.31% 45.01%
2022 -31.92% -27.53%
2021 21.05% 29.57%
2020 39.92% 41.83%
2019 37.22% 40.35%
2018 -0.14% 1.76%
2017 31.91% 34.7%
2016 9.49% 11.76%
2015 9.1% 9.89%
2014 16.61% 17.5%
2013 36.89% 38.94%
2012 18.92% 20.99%
2011 3.58% 6.65%
2010 19.73% 21.52%
2009 39.52% 43.32%
2008 -35.83% -35.77%
2007 10.13% 14.62%
2006 9.36% 12.14%
2005 4.12% 7.68%
2004 6.14% 9.59%
2003 32.62% 35.11%
2002 -28.24% -26.54%
2001 -21.08% -19.86%

Ishares Russell 1000 Growth Etf: Average Annualized Returns

Annualized returns show the average rate of growth per year, making it easier to compare performance across different time periods. While nominal returns indicate the headline growth, adjusting for inflation reveals the actual change in purchasing power.

This table presents both nominal and inflation-adjusted average annual returns for the iShares Russell 1000 Growth over various trailing periods ending March 31, 2026, offering a clearer view of long-term, real investment performance.

Period Avg. Annual Return (Inflation-Adjusted) Avg. Annual Return (Nominal)
Last 1 year 16.11% 19.89%
Last 3 years 19% 22.62%
Last 5 years 9.52% 14.46%
Last 10 years 15.71% 19.56%
Last 20 years 13.1% 15.98%

Real Returns of Investing in the iShares Russell 1000 Growth

The chart and table below show the nominal and inflation-adjusted value of a hypothetical $100 investment over various long-term historical periods, ending in September 2025.

The inflation-adjusted line, in green, represents the real increase in purchasing power for the initial investment. Observe the gap between both lines, which illustrates the cumulative effect of inflation over time.

Even over just five years, inflation takes a noticeable bite out of investments. Investing $100 in the iShares Russell 1000 Growth five years ago yielded an 118.94% nominal gain, but the real return (the actual increase in buying power) was 77.29%.

As investment periods get longer, the difference between reported nominal returns and the inflation-adjusted gains usually becomes much greater due to the compounding effect of inflation over time.

Investment Period What $100 Grew To (Nominal) Total Nominal Return (%) Total Inflation-Adjusted Return (%)
Last 5 years Feb 2021 - Sep 2025 $218.94 118.94% 77.29%
Last 10 years Feb 2016 - Sep 2025 $702.07 602.07% 412.52%
Last 25 years Feb 2001 - Sep 2025 $2,344.32 2,244% 1,169%

About the iShares Russell 1000 Growth ETF

The iShares Russell 1000 Growth ETF (IWF) is an exchange-traded fund managed by BlackRock that seeks to track the performance of the Russell 1000 Growth Index. Launched in May 2000, IWF focuses on large-cap US companies that are expected to grow at an above-average rate compared to their peers.

The fund emphasizes stocks with strong earnings growth potential and typically includes companies from sectors like technology, healthcare, and consumer discretionary. IWF offers investors a cost-effective way to gain concentrated exposure to growth-oriented large-cap US equities through a single diversified investment vehicle, making it an ideal choice for investors seeking to capitalize on the growth potential of America's largest companies.

Last Close
May 1, 2026
120.05
Highest
Oct 29, 2025
122
Highest, Inflation-Adjusted
Nov 3, 2025
123.35
Annualized return
Since May 26, 2000
11.73%
Annualized return, Inflation-Adjusted
Since May 26, 2000
8.95%

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Other Inflation-Adjusted Data