IWD vs VEA: 2% overlap
iShares Russell 1000 Value ETF and Vanguard FTSE Developed Markets ETF share 1.8% 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
IWD and VEA hold 92 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWD | in VEA | Δ |
|---|---|---|---|
| PRU | 0.1% | 0.1% | 0.0% |
| ROP | 0.1% | 0.9% | 0.8% |
| SUNB | 0.1% | 0.1% | 0.0% |
| DTE | 0.1% | 0.3% | 0.2% |
| CASH | 0.1% | 1.4% | 1.3% |
| PPL | 0.1% | 0.1% | 0.0% |
| DG | 0.1% | 0.2% | 0.1% |
| ALL | 0.2% | 0.1% | 0.1% |
| MRK | 0.9% | 0.1% | 0.8% |
| HBAN | 0.1% | 0.1% | 0.0% |
Where IWD and VEA 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 | IWD | VEA | Δ |
|---|---|---|---|
| Unclassified | 0.0% | 8.9% | −8.9pp |
| Health Care | 12.7% | 6.2% | +6.5pp |
| Industrials | 11.3% | 16.9% | −5.6pp |
| Energy | 6.1% | 2.9% | +3.2pp |
| Consumer Discretionary | 10.2% | 7.3% | +2.8pp |
| Consumer Staples | 7.4% | 5.6% | +1.8pp |
| Real Estate | 3.7% | 2.0% | +1.7pp |
| Materials | 3.7% | 5.1% | −1.4pp |
Δ is IWD minus VEA, 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
93.6% of IWD by weight, held in no part of VEA.
94.6% of VEA by weight, held in no part of IWD.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IWD | VEA | |
|---|---|---|
| Top 10 holdings | 27.8% | 15.2% |
| Positions held | 872 | 3,792 |
| Cost per $10,000 held, per year | $19 | $3 |
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 IWD and VEA overlap?
IWD and VEA overlap 1.8% by portfolio weight — largely distinct portfolios. They share 92 holdings. The figure comes from current issuer holdings files (IWD as of 2026-07-23, VEA as of 2026-06-30).
How is the overlap between IWD and VEA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IWD holds a stock at 6% and VEA 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 IWD and VEA?
That depends on your goals — we state facts, not advice. At 1.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IWD own that VEA doesn't?
IWD holds 872 positions and VEA holds 3,792; 779 of IWD's positions don't appear in VEA at all, and they are 93.6% of IWD by weight.
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Related comparisons
Sources: issuer holdings files, IWD as of 2026-07-23, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.