IEFA vs SWPPX: 1% overlap
iShares Core MSCI EAFE ETF and Schwab S&P 500 Index share 0.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 3 months apart — SWPPX as of 2026-04-30, the rest through 2026-07-23. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
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 SWPPX hold 37 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in SWPPX | Δ |
|---|---|---|---|
| ALL | 0.1% | 0.1% | 0.0% |
| MRK | 0.1% | 0.4% | 0.4% |
| ROP | 1.2% | 0.1% | 1.1% |
| EQT | 0.1% | 0.1% | 0.0% |
| HBAN | 0.1% | 0.1% | 0.0% |
| PRU | 0.2% | 0.1% | 0.1% |
| DTE | 0.4% | 0.1% | 0.4% |
| ADM | 0.0% | 0.1% | 0.0% |
| DG | 0.3% | 0.0% | 0.2% |
| EL | 0.2% | 0.0% | 0.2% |
Where IEFA and SWPPX 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 | SWPPX | Δ |
|---|---|---|---|
| Information Technology | 11.9% | 34.2% | −22.3pp |
| Financials | 24.2% | 11.5% | +12.7pp |
| Industrials | 19.6% | 8.1% | +11.4pp |
| Communication Services | 3.2% | 11.0% | −7.8pp |
| Materials | 6.4% | 1.3% | +5.1pp |
| Unclassified | 0.0% | 2.8% | −2.8pp |
| Utilities | 4.2% | 2.3% | +1.8pp |
| Consumer Staples | 6.7% | 4.9% | +1.8pp |
Δ is IEFA minus SWPPX, 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
96.5% of IEFA by weight, held in no part of SWPPX.
96.2% of SWPPX 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 | SWPPX | |
|---|---|---|
| Top 10 holdings | 12.5% | 38.3% |
| Positions held | 2,567 | 503 |
| Cost per $10,000 held, per year | $7 | $2 |
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 SWPPX overlap?
IEFA and SWPPX overlap 0.8% by portfolio weight — largely distinct portfolios. They share 37 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, SWPPX as of 2026-04-30).
How is the overlap between IEFA and SWPPX 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 SWPPX 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 SWPPX?
That depends on your goals — we state facts, not advice. At 0.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that SWPPX doesn't?
IEFA holds 2,567 positions and SWPPX holds 503; 2,529 of IEFA's positions don't appear in SWPPX at all, and they are 96.5% of IEFA by weight.
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, SWPPX as of 2026-04-30. Weights are fractions of each fund. Diagnostics, not advice.