IWF vs VEA: 0% overlap
iShares Russell 1000 Growth ETF and Vanguard FTSE Developed Markets ETF share 0.5% 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
IWF and VEA hold 23 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWF | in VEA | Δ |
|---|---|---|---|
| CASH | 0.1% | 1.4% | 1.2% |
| HEI-A | 0.1% | 0.1% | 0.0% |
| BAM | 0.1% | 0.1% | 0.0% |
| HEI | 0.0% | 0.1% | 0.0% |
| QSR | 0.0% | 0.1% | 0.0% |
| AAL | 0.0% | 0.2% | 0.1% |
| H | 0.0% | 0.0% | 0.0% |
| ADP | 0.1% | 0.0% | 0.1% |
| AMP | 0.0% | 0.0% | 0.0% |
| EL | 0.0% | 0.2% | 0.2% |
Where IWF 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 | IWF | VEA | Δ |
|---|---|---|---|
| Information Technology | 55.0% | 17.1% | +37.9pp |
| Financials | 4.7% | 20.7% | −16.0pp |
| Communication Services | 15.7% | 2.5% | +13.2pp |
| Unclassified | 0.0% | 8.9% | −8.9pp |
| Industrials | 8.5% | 16.9% | −8.3pp |
| Materials | 0.3% | 5.1% | −4.8pp |
| Consumer Staples | 1.3% | 5.6% | −4.3pp |
| Utilities | 0.3% | 3.3% | −3.0pp |
Δ is IWF 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
97.8% of IWF by weight, held in no part of VEA.
97.8% of VEA by weight, held in no part of IWF.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IWF | VEA | |
|---|---|---|
| Top 10 holdings | 56.1% | 15.2% |
| Positions held | 370 | 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 IWF and VEA overlap?
IWF and VEA overlap 0.5% by portfolio weight — largely distinct portfolios. They share 23 holdings. The figure comes from current issuer holdings files (IWF as of 2026-07-23, VEA as of 2026-06-30).
How is the overlap between IWF and VEA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IWF 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 IWF and VEA?
That depends on your goals — we state facts, not advice. At 0.5% overlap, each fund still contributes meaningfully distinct exposure.
What does IWF own that VEA doesn't?
IWF holds 370 positions and VEA holds 3,792; 346 of IWF's positions don't appear in VEA at all, and they are 97.8% of IWF by weight.
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Related comparisons
Sources: issuer holdings files, IWF as of 2026-07-23, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.