IWD vs VGSLX: 4% overlap
iShares Russell 1000 Value ETF and Vanguard Real Estate Index Admiral share 3.8% 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 VGSLX hold 61 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWD | in VGSLX | Δ |
|---|---|---|---|
| WELL | 0.5% | 8.4% | 7.9% |
| PLD | 0.4% | 6.7% | 6.3% |
| EQIX | 0.3% | 5.5% | 5.2% |
| DLR | 0.2% | 3.3% | 3.1% |
| O | 0.2% | 3.0% | 2.9% |
| VTR | 0.1% | 2.2% | 2.1% |
| PSA | 0.1% | 2.7% | 2.5% |
| IRM | 0.1% | 2.0% | 1.9% |
| CBRE | 0.1% | 2.1% | 2.0% |
| CCI | 0.1% | 1.8% | 1.7% |
Where IWD and VGSLX 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 | VGSLX | Δ |
|---|---|---|---|
| Real Estate | 3.7% | 84.0% | −80.3pp |
| Financials | 19.6% | 0.3% | +19.3pp |
| Information Technology | 18.0% | 0.0% | +18.0pp |
| Unclassified | 0.0% | 14.7% | −14.7pp |
| Health Care | 12.7% | 0.0% | +12.7pp |
| Industrials | 11.3% | 0.0% | +11.3pp |
| Consumer Discretionary | 10.2% | 0.2% | +9.9pp |
| Consumer Staples | 7.4% | 0.2% | +7.2pp |
Δ is IWD minus VGSLX, 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
96.2% of IWD by weight, held in no part of VGSLX.
28.0% of VGSLX 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 | VGSLX | |
|---|---|---|
| Top 10 holdings | 27.8% | 54.1% |
| Positions held | 872 | 145 |
| Cost per $10,000 held, per year | $19 | $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 IWD and VGSLX overlap?
IWD and VGSLX overlap 3.8% by portfolio weight — largely distinct portfolios. They share 61 holdings. The figure comes from current issuer holdings files (IWD as of 2026-07-23, VGSLX as of 2026-06-30).
How is the overlap between IWD and VGSLX 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 VGSLX 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 VGSLX?
That depends on your goals — we state facts, not advice. At 3.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IWD own that VGSLX doesn't?
IWD holds 872 positions and VGSLX holds 145; 810 of IWD's positions don't appear in VGSLX at all, and they are 96.2% of IWD by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, IWD as of 2026-07-23, VGSLX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.