S&P 500 Growth Index Fund ETF (IVW)

The S&P 500 Growth Index Fund ETF (IVW) started trading in late May 2000. It tracks the S&P 500/Citigroup Growth Index, minus expenses and fees. The ETF uses a sampling approach to track the index, and may at times hold stocks not in the index as well as contracts and cash equivalents.

The S&P 500/Citigroup Growth Index tracks those S&P 500 components that have the highest price/book ratios.

As of mid July 2008, the ETF had the following sector breakdown:

Basic Materials 3.12%
Consumer discretionary 7.6%
Consumer staples 12%
Energy 22.67%
Financials 5.82%
Health care 14.96%
Industrials 8.87%
Information Technology 24.17%
Telecom Services 0.08%
Utilities 0.65%


The ETF is passively managed, with an expense ratio of 0.18%. The fund's most recent annual turnover rate was 26%.

Although this is subject to change, the ETF pays a quarterly dividend in March, June, September and December. The dividend is irregular, and past distributions have ranged from $0.0236 a share to $0.5237 a share.

The S&P 500 Growth Index Fund held 307 stocks as of July 2008. Its holdings are listed below.