IWD vs VUG: 23% overlap
iShares Russell 1000 Value ETF and Vanguard Growth ETF share 22.9% 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 VUG hold 69 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWD | in VUG | Δ |
|---|---|---|---|
| AAPL | 5.9% | 11.6% | 5.8% |
| AMZN | 5.7% | 4.5% | 1.3% |
| MSFT | 3.9% | 7.6% | 3.7% |
| INTC | 1.2% | 0.8% | 0.4% |
| META | 0.7% | 3.4% | 2.7% |
| COST | 0.6% | 1.2% | 0.5% |
| MCD | 0.5% | 0.5% | 0.0% |
| WELL | 0.5% | 0.5% | 0.0% |
| VRTX | 0.3% | 0.4% | 0.0% |
| EQIX | 0.3% | 0.3% | 0.0% |
Where IWD and VUG 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 | VUG | Δ |
|---|---|---|---|
| Information Technology | 18.0% | 56.0% | −38.0pp |
| Financials | 19.6% | 3.9% | +15.6pp |
| Communication Services | 3.3% | 15.3% | −12.0pp |
| Health Care | 12.7% | 4.7% | +8.1pp |
| Industrials | 11.3% | 5.0% | +6.3pp |
| Consumer Staples | 7.4% | 1.4% | +6.0pp |
| Energy | 6.1% | 0.3% | +5.8pp |
| Utilities | 3.9% | 0.0% | +3.9pp |
Δ is IWD minus VUG, 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
74.6% of IWD by weight, held in no part of VUG.
60.9% of VUG 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 | VUG | |
|---|---|---|
| Top 10 holdings | 27.8% | 60.3% |
| Positions held | 872 | 147 |
| 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 VUG overlap?
IWD and VUG overlap 22.9% by portfolio weight — moderate overlap. They share 69 holdings. The figure comes from current issuer holdings files (IWD as of 2026-07-23, VUG as of 2026-06-30).
How is the overlap between IWD and VUG 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 VUG 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 VUG?
That depends on your goals — we state facts, not advice. At 22.9% overlap, each fund still contributes meaningfully distinct exposure.
What does IWD own that VUG doesn't?
IWD holds 872 positions and VUG holds 147; 802 of IWD's positions don't appear in VUG at all, and they are 74.6% of IWD by weight.
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Related comparisons
Sources: issuer holdings files, IWD as of 2026-07-23, VUG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.