Growth investing statistics at a glance
Growth investing is often discussed as a style, but the numbers show it as a moving target: a rules-based index structure, a changing valuation profile, and a long return history that has not moved in a straight line. The dataset behind this article spans benchmark facts, fund-level data, long-run research, and a handful of company examples, which makes it useful for seeing where growth has been strong, where it has been fragile, and why it keeps attracting attention.
Table of contents
- Fast facts
- Growth investing statistics by index and benchmark
- Growth investing statistics on returns and risk
- Valuation and portfolio composition
- Fund and ETF data
- What the research says about growth
- Company examples and market reactions
- What the statistics suggest
Fast facts
Key takeaways
- Russell 1000 Growth launched on January 1, 1987 and Russell 1000 launched on January 1, 1984 (Russell 1000 Growth Index factsheet).
- Russell 1000 Growth had 387 holdings versus 1,004 for the Russell 1000 on April 30, 2026 (Russell 1000 Growth Index factsheet).
- Russell 1000 Growth price/book was 5.21 versus 13.21 for the Russell 1000 on April 30, 2026 (Russell 1000 Growth Index factsheet).
- Russell 1000 Growth 10-year annualized return was 18.26% as of April 30, 2026 (Russell 1000 Growth Index factsheet).
- SPYG had $52,381.85 million in assets under management as of May 20, 2026 (SPYG page).
- Vanguard Growth Index Fund ETF Shares had $352,324 million in net assets as of December 31, 2025 (Vanguard Growth Index Fund annual report).
- The average U.S. large-cap value premium was 2.16% per year from 1926 to 2014 (Dimensional, Feb. 4 2026).
- The realized U.S. large-cap value premium was -11.6% per year from January 2015 to December 2024 (Dimensional, Feb. 4 2026).
Why these numbers matter
Growth investing statistics are useful because they connect three different layers of evidence.
- Index rules tell you how growth is defined and maintained.
- Benchmark and fund data show what investors actually own and pay.
- Research and company examples show why the label does not guarantee a single outcome.
That mix is the real story here. Growth can look expensive, concentrated, volatile, and still deliver strong long-run results. The dataset shows all of that at once.
Growth investing statistics by index and benchmark
The structure behind growth indexes
Growth indexes are not static lists. They are maintained through reconstitution, rebalancing, inclusion rules, and cap controls.
Russell 1000 Growth was launched on January 1, 1987; the Russell 1000 itself launched on January 1, 1984 (Russell 1000 Growth Index factsheet). Russell 1000 Growth is fully reconstituted in June, gets parent index membership updates in December, and has quarterly IPO inclusions in March and September (Russell 1000 Growth Index factsheet).
That schedule matters because it shows growth indexes are designed to stay current with evolving large-cap growth names, not just freeze a historical snapshot.
Since March 24, 2025, the index has applied quarterly capping when constituent weights exceed target RIC thresholds (Russell 1000 Growth Index factsheet). In practice, that means the index has another control on concentration when a few names become too dominant.
Comparison table
| Measure | Russell 1000 Growth | Russell 1000 | Source |
|---|---|---|---|
| Launch date | January 1, 1987 | January 1, 1984 | Russell 1000 Growth Index factsheet |
| Holdings / constituents | 387 holdings | 1,004 holdings | Russell 1000 Growth Index factsheet |
| Price/book | 5.21 | 13.21 | Russell 1000 Growth Index factsheet |
| Dividend yield | 1.14 | 0.53 | Russell 1000 Growth Index factsheet |
| P/E ex-negative earnings | 26.88 | 34.76 | Russell 1000 Growth Index factsheet |
| 5-year EPS growth | 15.97 | 20.26 | Russell 1000 Growth Index factsheet |
| Annualized 1-year standard deviation | 17.52% | 12.57% | Russell 1000 Growth Index factsheet |
| Annualized 10-year standard deviation | 17.60% | 15.52% | Russell 1000 Growth Index factsheet |
The table shows a familiar pattern with one important nuance: growth has a lower price/book and a higher yield than the Russell 1000 in this dataset, while also carrying more volatility over every standard deviation window listed (Russell 1000 Growth Index factsheet).
Index composition signals
The data also points to concentration inside growth benchmarks.
Russell 1000 Growth had 391 constituents as of 30 December 2025 in the 871(m) factsheet, and five securities represented the top 40% of weight on that date (Russell 1000 Growth 871(m) factsheet). Its largest single security weight was Nvidia at 12.224% as of 30 December 2025 (Russell 1000 Growth 871(m) factsheet).
Those numbers are important because growth benchmarks often look diversified on paper but can be driven by a relatively small number of dominant names.
Growth investing statistics on returns and risk
Long-run return profile
The Russell 1000 Growth return history in the dataset is strong but uneven.
As of April 30, 2026, the index had a 1-year return of 0.96%, a 3-year annualized return of 25.40%, a 5-year annualized return of 13.82%, and a 10-year annualized return of 18.26% (Russell 1000 Growth Index factsheet).
Calendar-year returns reinforce that pattern of swings:
- 2021: 27.60%
- 2022: -29.14%
- 2023: 42.68%
- 2024: 33.36%
- 2025: 18.56% (Russell 1000 Growth Index factsheet)
Returns table
| Period | Russell 1000 Growth return | Source |
|---|---|---|
| 1-year | 0.96% | Russell 1000 Growth Index factsheet |
| 3-year annualized | 25.40% | Russell 1000 Growth Index factsheet |
| 5-year annualized | 13.82% | Russell 1000 Growth Index factsheet |
| 10-year annualized | 18.26% | Russell 1000 Growth Index factsheet |
| 2021 | 27.60% | Russell 1000 Growth Index factsheet |
| 2022 | -29.14% | Russell 1000 Growth Index factsheet |
| 2023 | 42.68% | Russell 1000 Growth Index factsheet |
| 2024 | 33.36% | Russell 1000 Growth Index factsheet |
| 2025 | 18.56% | Russell 1000 Growth Index factsheet |
A useful way to read these numbers is that growth can compound well over long windows, but its year-to-year path can be sharp in both directions.
Risk profile
Volatility is one of the clearest growth investing statistics in the dataset.
Russell 1000 Growth had annualized standard deviation of 17.52% over 1 year, 16.17% over 3 years, 19.13% over 5 years, and 17.60% over 10 years (Russell 1000 Growth Index factsheet). The Russell 1000’s comparable figures were 12.57%, 13.15%, 15.73%, and 15.52% respectively (Russell 1000 Growth Index factsheet).
That gap tells you growth has historically come with a rougher ride than the broader large-cap index in this dataset.
At a glance on return and risk
- Strong long-term annualized return history, especially over 10 years (Russell 1000 Growth Index factsheet).
- A negative year in 2022 followed by two very strong years in 2023 and 2024 (Russell 1000 Growth Index factsheet).
- Higher volatility than the broader Russell 1000 across each reported window (Russell 1000 Growth Index factsheet).
Valuation and portfolio composition
Growth stocks are not all priced the same way
One of the biggest misunderstandings in growth investing is treating it as one valuation bucket. The dataset shows otherwise.
Russell 1000 Growth had a price/book of 5.21 versus 13.21 for the Russell 1000 on April 30, 2026 (Russell 1000 Growth Index factsheet). It also had P/E ex-negative earnings of 26.88 versus 34.76 for the Russell 1000 (Russell 1000 Growth Index factsheet).
That pairing is notable because it shows growth is not always more expensive on every metric, even if investors often think of it that way.
Big number
Average market cap was $2,179.641 billion for Russell 1000 Growth versus $1,383.882 billion for the Russell 1000 on April 30, 2026 (Russell 1000 Growth Index factsheet).
The median market cap was $21.939 billion versus $16.940 billion for the Russell 1000 (Russell 1000 Growth Index factsheet).
The spread between average and median suggests a skewed distribution, with a few very large companies pulling the average upward. That is exactly the kind of shape that makes growth indexes sensitive to concentration.
Yield and earnings growth
The dataset shows a mixed picture on income and growth.
Russell 1000 Growth’s dividend yield was 1.14 versus 0.53 for the Russell 1000 on April 30, 2026 (Russell 1000 Growth Index factsheet). Its 5-year EPS growth was 15.97 versus 20.26 for the Russell 1000 (Russell 1000 Growth Index factsheet).
That does not mean growth is a “high-yield” style in the usual sense. It means this particular growth benchmark contained a set of names that were not purely no-income, all-reinvestment stories.
Concentration and top holdings
The 871(m) factsheet gives a more concentrated picture than the headline holdings count alone.
- 391 constituents as of 30 December 2025 (Russell 1000 Growth 871(m) factsheet)
- Five securities represented the top 40% of weight (Russell 1000 Growth 871(m) factsheet)
- Nvidia at 12.224% as the largest single security weight (Russell 1000 Growth 871(m) factsheet)
That is the kind of structure that can make growth benchmarks highly responsive to a small number of mega-cap winners.
Fund and ETF data
SPYG statistics
SPYG gives a clean ETF-level view of growth exposure.
As of May 20, 2026, SPYG had $52,381.85 million in assets under management, 145 holdings, a gross expense ratio of 0.04%, a price/book ratio of 9.16, and FY1 price/earnings ratio of 26.83 (SPYG page).
It also showed estimated 3-5 year EPS growth of 18.47%, a weighted average market cap of $2,432,298.80 million, a 30-day SEC yield of 0.44%, a fund distribution yield of 0.48%, and an index dividend yield of 0.51% (SPYG page).
Vanguard Growth Index Fund ETF Shares statistics
The Vanguard fund in the dataset reinforces the scale of investor demand for growth exposure.
As of December 31, 2025, Vanguard Growth Index Fund ETF Shares had $352,324 million in net assets, 155 portfolio holdings, and a 12% portfolio turnover rate for 2025 (Vanguard Growth Index Fund annual report). It cost $4 per $10,000 invested, equal to 0.04% (Vanguard Growth Index Fund annual report).
Its 2025 returns were 19.44% over 1 year, 14.63% annualized over 5 years, and 17.45% annualized over 10 years (Vanguard Growth Index Fund annual report).
Fund comparison table
| Fund / ETF | Assets or net assets | Holdings | Cost | Return / yield stat | Source |
|---|---|---|---|---|---|
| SPYG | $52,381.85 million AUM | 145 | 0.04% gross expense ratio | 0.44% 30-day SEC yield | SPYG page |
| Vanguard Growth Index Fund ETF Shares | $352,324 million net assets | 155 | $4 per $10,000 invested, equal to 0.04% | 19.44% 1-year return | Vanguard Growth Index Fund annual report |
The common thread is low cost and broad access. The difference is scale: both vehicles are large, but Vanguard’s net asset base in this dataset is dramatically bigger.
What the research says about growth
The long view from market history
The research entries in the dataset show that growth is not just a benchmark category. It has a long academic and practical debate around profits, valuation, and style cycles.
Dimensional reported that from 1926 to 2014, the average U.S. large-cap value premium was 2.16% per year, but from January 2015 to December 2024, the realized U.S. large-cap value premium was -11.6% per year (Dimensional, Feb. 4 2026). In the same analysis, growth firms reported higher operating profits than their historical average from 2015 to 2024, and in the 2020s they reached an unprecedented level of profitability (Dimensional, Feb. 4 2026).
That matters because it suggests the growth category has not only been a valuation story. It has also been a profitability story.
McKinsey’s historical perspective
McKinsey’s older analysis adds another layer.
It found a median market-to-book ratio of 4.8 for growth stocks versus 2.2 for value stocks (McKinsey, Jan. 1 2007). It also found median compounded revenue growth of 10.1% for growth stocks versus 8.7% for value stocks from 2002 to 2005, and median ROIC of 35% for growth stocks versus 15% for value stocks (McKinsey, Jan. 1 2007).
McKinsey also reported that the correlation of market-to-book ratios with ROIC was 20% versus 1% for growth rates in 2005 (McKinsey, Jan. 1 2007). That is a useful reminder that valuation can reflect profitability as much as top-line growth.
Classification is not permanent
McKinsey cited 84 companies that switched at least once between growth and value classifications during its 10-year study period (McKinsey, Jan. 1 2007). That finding supports a key practical point: growth and value are not permanent identities. Companies can move between categories as business conditions, profitability, and market pricing change.
Company examples and market reactions
Earnings surprises can move growth names fast
The company examples in the dataset show how quickly growth-heavy names can reprice around earnings.
In 2024, NVIDIA reported quarterly revenue of $35.1 billion, up 94% year over year, and GAAP EPS of $0.78, up 111% year over year (Dimensional, Feb. 4 2026). It beat analyst consensus EPS by 11.4%, and its three-day market reaction was 10.6% (Dimensional, Feb. 4 2026).
Oracle provides another example. In Q1 2025, Oracle reported GAAP EPS of $1.03, up 20% year over year, and non-GAAP EPS of $1.39, up 17% year over year (Dimensional, Feb. 4 2026). Its non-GAAP EPS exceeded analyst consensus by $0.07, or 5.3%, and the three-day market reaction was 10.3% (Dimensional, Feb. 4 2026).
A smaller example with a different pattern
Clorox is useful because it shows that not every company in a growth/value discussion has the same profile.
In 2020, Clorox had 14.8% revenue growth and 31.3% EPS growth in its third fiscal quarter (Dimensional, Feb. 4 2026). It exceeded analyst consensus by 4.03% on revenue and 9.8% on EPS, and delivered an 11.78% excess return around that earnings announcement (Dimensional, Feb. 4 2026).
The point is not that Clorox is a growth archetype. The point is that earnings momentum can matter across styles, and the market reaction can be swift when results surprise.
What the statistics suggest
The practical read on growth investing statistics
The dataset supports three broad takeaways.
- Growth benchmarks are actively maintained, not passively frozen, and their rules matter (Russell 1000 Growth Index factsheet).
- Growth can produce strong long-run returns, but the path is volatile and concentration can be meaningful (Russell 1000 Growth Index factsheet; Russell 1000 Growth 871(m) factsheet).
- Costs remain low in major growth funds and ETFs, which makes implementation easier than many investors assume (SPYG page; Vanguard Growth Index Fund annual report).
Why investors keep watching growth
If you strip away the style labels, growth investing statistics are mostly about a tradeoff between earnings power, valuation, concentration, and volatility. The benchmark numbers in this dataset show growth with a higher-risk profile than the broader large-cap universe, but also with a long record of powerful compound returns and strong profitability trends in the underlying companies (Russell 1000 Growth Index factsheet; Dimensional, Feb. 4 2026).
The more interesting part is that the data does not force a simple verdict. Growth is not always the cheapest, not always the most concentrated, and not always the highest-yielding style. It is a dynamic mix of rules, winners, and changing market expectations, which is why the statistics remain worth watching.