Growth investing has always had a certain allure. The idea of riding on the financial coattails of companies that could shape the future sounds great on paper. But in today’s market, “growth” can mean many different things.
“The biggest mistake is assuming all growth ETFs offer the same exposure,” says Jay Jacobs, BlackRock’s U.S. head of equity exchange-traded funds. Different index providers define growth in different ways, and those definitions can meaningfully shape performance over time.
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Some exchange-traded funds concentrate heavily in mega-cap leaders, like the Vanguard Mega Cap Growth ETF (ticker: MGK), while others spread exposure more evenly. Some serve as core building blocks for a portfolio, while others are better suited as targeted plays on specific trends like artificial intelligence or semiconductors, such as the VanEck Semiconductor ETF (SMH).
“The market is more concentrated today — particularly within mega-cap growth — than at many points in the past,” Jacobs says. But that isn’t necessarily a bad thing. The concentration “is largely the result of fundamentals,” including strong earnings growth and dominant market positions, he says.
That raises an important question for investors: Should you lean into that concentration, or look for growth exchange-traded funds that diversify beyond it?
The answer depends on how you define growth in the first place. From broad, low-cost index funds to more targeted strategies tied to momentum or sectors like semiconductors, today’s growth ETFs offer a range of ways to participate in market leadership.
Here are seven top growth ETFs for each flavor of growth investor:
| Growth ETF | Expense Ratio | 5-Year Return* |
| iShares Russell 1000 Growth ETF (IWF) | 0.18% | 13.7% |
| Schwab U.S. Large-Cap Growth ETF (SCHG) | 0.04% | 14.0% |
| Invesco Nasdaq 100 ETF (QQQM) | 0.15% | 16.7% |
| iShares Nasdaq Top 30 Stocks ETF (QTOP) | 0.20% | 40.8%** |
| State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) | 0.04% | 14.8% |
| iShares MSCI USA Quality GARP ETF (GARP) | 0.15% | 18.9% |
| iShares Future AI & Tech ETF (ARTY) | 0.47% | 12.6% |
*Annualized market price return, as of June 17.**One-year return, as of June 17.
iShares Russell 1000 Growth ETF (IWF)
Kicking off this list of the best growth ETFs is one designed to “deliver growth in a way that’s both familiar and easy to use in portfolio construction,” Jacobs says. It tracks the widely used Russell 1000 index, which measures the performance of roughly 1,000 of the largest stocks in the Russell 3000 index.
Tracking a common benchmark is “important because investors often use these indexes as their starting point for U.S. equity exposure,” Jacobs says. As a result, IWF pairs nicely with value funds to help you “rebuild the market with a deliberate style tilt, adjusting between growth and value depending on their outlook and current environment.”
IWF also comes with the reassurance of strong liquidity: About 6.9 million shares trade hands daily, on average, and the fund boasts $125.3 billion in assets. So if and when you decide to sell, you should have no trouble getting the fair market price.
Schwab U.S. Large-Cap Growth ETF (SCHG)
Another strong contender for a core growth holding is SCHG, particularly if you’re after broad exposure without overcomplicating things. The fund tracks a large-cap growth index that gives you access to nearly 200 large-cap growth stocks — and it does so for only 0.04% annual expenses.
SCHG is still heavily tied to the market’s biggest growth names, like Nvidia Corp. (NVDA), Apple Inc. (AAPL) and Microsoft Corp. (MSFT). Those three account for over a quarter of the whole portfolio, but the portfolio touches on every sector of the market. For a growth fund with a combination of breadth, scale and low fees, SCHG is hard to ignore.
[READ: 7 Best Long-Term ETFs to Buy and Hold]
Invesco Nasdaq 100 ETF (QQQM)
QQQM is the quieter sibling of the better-known Invesco QQQ Trust (QQQ), but don’t overlook it if you’re a long-term investor. QQQM tracks the Nasdaq-100 and holds roughly 100 of the largest nonfinancial companies listed on the Nasdaq.
This means QQQM gives you access to many of the same growth-heavy companies that made QQQ famous, but in a lower-cost structure: QQQ charges 0.18% versus only 0.15% per year for QQQM. That difference may sound minuscule, but over the long term, even small savings can add up to bigger returns.
iShares Nasdaq Top 30 Stocks ETF (QTOP)
QTOP is for you if you want to lean into the market’s biggest Nasdaq winners rather than own the full Nasdaq-100. The fund targets the 30 largest companies in the Nasdaq-100, making it a concentrated bet on mega-cap growth leadership. That focus can be appealing in a market where a small group of dominant companies continues to drive a large share of index returns.
“The portfolio emphasizes companies with durable competitive advantages; notably, 21 of its 30 holdings are rated as having a wide economic moat by Morningstar, reflecting their ability to sustain excess returns over time,” Jacobs says.
Still, concentration cuts both ways: If the largest growth stocks stumble, QTOP gives investors fewer places to hide than a broader fund. It’s also relatively new, having debuted in October 2024, but it’s already gathered more than $291 million in assets. So if you’re comfortable with concentration, QTOP is a great mega-cap growth approach.
State Street SPDR Portfolio S&P 500 Growth ETF (SPYG)
SPYG doesn’t complicate things, either. The fund is a straightforward way to buy the growth side of the S&P 500 without overpaying. It holds the stocks in the index with the strongest growth characteristics based on sales growth, price-to-earnings ratio and momentum.
Because SPYG starts with the S&P 500, it can feel more familiar than some specialized growth funds. Its largest holdings include Nvidia, Microsoft, Apple, Alphabet Inc. Class A (GOOGL) and Broadcom Inc. (AVGO). So you’re still making a meaningful bet on mega-cap tech and communications stocks, but in a diversified, low-cost wrapper.
iShares MSCI USA Quality GARP ETF (GARP)
GARP adds a useful twist to a growth ETF list because it doesn’t simply chase the fastest-growing companies at any price. “GARP starts with a growth stock universe and then tilts toward companies with stronger quality characteristics and more attractive valuations, helping to avoid some of the most expensive growth names,” Jacobs says.
It also applies a cap so no individual stocks can be more than 5% of the overall portfolio. This helps with diversification and avoiding the over-concentration you might find in other growth ETFs.
While GARP may not be the purest high-octane growth fund on this list, it’s a great option for those who want a side of value with their growth.
iShares Future AI & Tech ETF (ARTY)
You can’t talk about growth in 2026 without mentioning artificial intelligence, and this is where ARTY takes center stage.
“ARTY offers targeted exposure across the AI value chain, including generative AI, AI data and infrastructure, semiconductors, software, and AI-enabled services,” Jacobs says. By using a global lens, it extends exposure beyond the traditional U.S. mega-cap tech names to include top recipients of AI spend like Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) and SK hynix Inc. (000660.KS).
“This approach may help investors capture critical components of AI development and adoption that can be underrepresented in broad U.S. equity indexes,” he says.
This is not the fund to use as your core growth holding. It’s more of a satellite fund for investors who believe AI will keep reshaping the global economy. That said, the payoff is powerful when the theme is thriving: As of June 17, ARTY has returned 96% over the past 12 months. This comes with higher volatility and expenses, however, so allocate wisely.
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7 Best Growth ETFs to Buy in 2026 originally appeared on usnews.com
Update 06/18/26: This story was previously published at an earlier date and has been updated with new information.
