IVW vs VNQ: 1% overlap
iShares S&P 500 Growth ETF and Vanguard Real Estate ETF share 0.8% 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
IVW and VNQ hold 4 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVW | in VNQ | Δ |
|---|---|---|---|
| WELL | 0.5% | 8.4% | 7.9% |
| CASH | 0.1% | 0.6% | 0.5% |
| SPG | 0.1% | 3.9% | 3.8% |
| VTR | 0.1% | 2.2% | 2.2% |
Where IVW and VNQ 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 | IVW | VNQ | Δ |
|---|---|---|---|
| Real Estate | 0.7% | 84.0% | −83.3pp |
| Information Technology | 52.5% | 0.0% | +52.5pp |
| Communication Services | 14.7% | 0.0% | +14.7pp |
| Unclassified | 0.0% | 14.7% | −14.7pp |
| Financials | 9.2% | 0.3% | +8.9pp |
| Consumer Discretionary | 8.0% | 0.2% | +7.8pp |
| Industrials | 6.6% | 0.0% | +6.6pp |
| Health Care | 6.3% | 0.0% | +6.3pp |
Δ is IVW minus VNQ, 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
99.2% of IVW by weight, held in no part of VNQ.
84.9% of VNQ by weight, held in no part of IVW.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVW | VNQ | |
|---|---|---|
| Top 10 holdings | 58.2% | 54.1% |
| Positions held | 149 | 145 |
| Cost per $10,000 held, per year | $18 | $13 |
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 IVW and VNQ overlap?
IVW and VNQ overlap 0.8% by portfolio weight — largely distinct portfolios. They share 4 holdings. The figure comes from current issuer holdings files (IVW as of 2026-07-23, VNQ as of 2026-06-30).
How is the overlap between IVW and VNQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVW holds a stock at 6% and VNQ 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 IVW and VNQ?
That depends on your goals — we state facts, not advice. At 0.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IVW own that VNQ doesn't?
IVW holds 149 positions and VNQ holds 145; 144 of IVW's positions don't appear in VNQ at all, and they are 99.2% of IVW by weight.
You probably hold more than two funds
This page compares IVW and VNQ. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch IVW vs VNQ
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, IVW as of 2026-07-23, VNQ as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.