IWD vs VONG: 17% overlap
iShares Russell 1000 Value ETF and Vanguard Russell 1000 Growth ETF share 17.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 27 days apart — VONG as of 2026-06-30, the rest through 2026-07-27. 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IWD and VONG hold 214 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWD | in VONG | Δ |
|---|---|---|---|
| AAPL | 6.1% | 6.7% | 0.6% |
| MSFT | 3.9% | 4.1% | 0.2% |
| META | 0.6% | 3.0% | 2.4% |
| AMZN | 5.6% | 0.6% | 5.0% |
| COST | 0.6% | 0.5% | 0.1% |
| HD | 0.2% | 0.8% | 0.5% |
| TJX | 0.3% | 0.2% | 0.0% |
| AMGN | 0.2% | 0.4% | 0.2% |
| AXP | 0.3% | 0.2% | 0.2% |
| BA | 0.2% | 0.3% | 0.2% |
Where IWD and VONG 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 | VONG | Δ |
|---|---|---|---|
| Information Technology | 18.2% | 54.3% | −36.1pp |
| Financials | 19.6% | 4.3% | +15.3pp |
| Communication Services | 3.4% | 16.1% | −12.7pp |
| Health Care | 12.7% | 5.4% | +7.3pp |
| Consumer Staples | 7.5% | 1.3% | +6.2pp |
| Energy | 5.9% | 0.4% | +5.4pp |
| Utilities | 3.8% | 0.3% | +3.5pp |
| Materials | 3.7% | 0.3% | +3.4pp |
Δ is IWD minus VONG, 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
65.4% of IWD by weight, held in no part of VONG.
75.7% of VONG 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 | VONG | |
|---|---|---|
| Top 10 holdings | 27.8% | 54.3% |
| Positions held | 872 | 370 |
| Cost per $10,000 held, per year | $19 | $6 |
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 VONG overlap?
IWD and VONG overlap 17.1% by portfolio weight — moderate overlap. They share 214 holdings. The figure comes from current issuer holdings files (IWD as of 2026-07-27, VONG as of 2026-06-30).
How is the overlap between IWD and VONG 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 VONG 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 VONG?
That depends on your goals — we state facts, not advice. At 17.1% overlap, each fund still contributes meaningfully distinct exposure.
What does IWD own that VONG doesn't?
IWD holds 872 positions and VONG holds 370; 657 of IWD's positions don't appear in VONG at all, and they are 65.4% of IWD by weight.
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Related comparisons
Sources: issuer holdings files, IWD as of 2026-07-27, VONG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.