IWD vs VGT: 18% overlap
iShares Russell 1000 Value ETF and Vanguard Information Technology ETF share 18.0% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IWD and VGT hold 93 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWD | in VGT | Δ |
|---|---|---|---|
| AAPL | 5.9% | 14.3% | 8.4% |
| MSFT | 3.9% | 8.3% | 4.4% |
| CSCO | 1.2% | 1.8% | 0.6% |
| INTC | 1.2% | 2.4% | 1.2% |
| IBM | 0.5% | 1.0% | 0.5% |
| QCOM | 0.5% | 0.8% | 0.3% |
| ADI | 0.5% | 0.8% | 0.3% |
| CRM | 0.3% | 0.5% | 0.2% |
| DELL | 0.3% | 0.6% | 0.3% |
| ACN | 0.2% | 0.3% | 0.1% |
Where IWD and VGT 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 | VGT | Δ |
|---|---|---|---|
| Information Technology | 18.0% | 99.5% | −81.4pp |
| Financials | 19.6% | 0.0% | +19.5pp |
| Health Care | 12.7% | 0.0% | +12.7pp |
| Industrials | 11.3% | 0.0% | +11.3pp |
| Consumer Discretionary | 10.2% | 0.0% | +10.1pp |
| Consumer Staples | 7.4% | 0.1% | +7.3pp |
| Energy | 6.1% | 0.0% | +6.1pp |
| Utilities | 3.9% | 0.0% | +3.9pp |
Δ is IWD minus VGT, 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
81.9% of IWD by weight, held in no part of VGT.
59.3% of VGT 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 | VGT | |
|---|---|---|
| Top 10 holdings | 27.8% | 59.9% |
| Positions held | 872 | 322 |
| Cost per $10,000 held, per year | $19 | $9 |
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 VGT overlap?
IWD and VGT overlap 18.0% by portfolio weight — moderate overlap. They share 93 holdings. The figure comes from current issuer holdings files (IWD as of 2026-07-23, VGT as of 2026-06-30).
How is the overlap between IWD and VGT 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 VGT 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 VGT?
That depends on your goals — we state facts, not advice. At 18.0% overlap, each fund still contributes meaningfully distinct exposure.
What does IWD own that VGT doesn't?
IWD holds 872 positions and VGT holds 322; 778 of IWD's positions don't appear in VGT at all, and they are 81.9% of IWD by weight.
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Related comparisons
Sources: issuer holdings files, IWD as of 2026-07-23, VGT as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.