IEFA vs IWD: 2% overlap
iShares Core MSCI EAFE ETF and iShares Russell 1000 Value ETF share 1.6% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IEFA and IWD hold 77 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in IWD | Δ |
|---|---|---|---|
| PRU | 0.2% | 0.1% | 0.1% |
| ROP | 1.2% | 0.1% | 1.1% |
| ALL | 0.1% | 0.2% | 0.1% |
| SUNB | 0.1% | 0.1% | 0.0% |
| DTE | 0.4% | 0.1% | 0.3% |
| HBAN | 0.1% | 0.1% | 0.0% |
| MRK | 0.1% | 0.9% | 0.8% |
| DG | 0.3% | 0.1% | 0.2% |
| EQT | 0.1% | 0.1% | 0.0% |
| ADM | 0.0% | 0.1% | 0.1% |
Where IEFA and IWD differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | IEFA | IWD | Δ |
|---|---|---|---|
| Industrials | 19.6% | 11.3% | +8.3pp |
| Information Technology | 11.9% | 18.0% | −6.1pp |
| Health Care | 7.6% | 12.7% | −5.1pp |
| Financials | 24.2% | 19.6% | +4.6pp |
| Materials | 6.4% | 3.7% | +2.7pp |
| Energy | 3.9% | 6.1% | −2.2pp |
| Consumer Discretionary | 8.8% | 10.2% | −1.4pp |
| Real Estate | 2.7% | 3.7% | −1.0pp |
Δ is IEFA minus IWD, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
94.9% of IEFA by weight, held in no part of IWD.
94.0% of IWD by weight, held in no part of IEFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IEFA | IWD | |
|---|---|---|
| Top 10 holdings | 12.5% | 27.8% |
| Positions held | 2,567 | 872 |
| Cost per $10,000 held, per year | $7 | $19 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do IEFA and IWD overlap?
IEFA and IWD overlap 1.6% by portfolio weight — largely distinct portfolios. They share 77 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, IWD as of 2026-07-23).
How is the overlap between IEFA and IWD calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IEFA holds a stock at 6% and IWD holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both IEFA and IWD?
That depends on your goals — we state facts, not advice. At 1.6% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that IWD doesn't?
IEFA holds 2,567 positions and IWD holds 872; 2,489 of IEFA's positions don't appear in IWD at all, and they are 94.9% of IEFA by weight.
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, IWD as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.