IWF vs VONG: 94% overlap
iShares Russell 1000 Growth ETF and Vanguard Russell 1000 Growth ETF share 94.2% 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 1.1. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IWF and VONG hold 367 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWF | in VONG | Δ |
|---|---|---|---|
| NVDA | 14.4% | 13.8% | 0.6% |
| AAPL | 8.3% | 6.7% | 1.6% |
| GOOGL | 6.0% | 6.2% | 0.2% |
| AVGO | 5.6% | 5.2% | 0.4% |
| GOOG | 4.9% | 5.0% | 0.1% |
| MSFT | 4.5% | 4.1% | 0.4% |
| MU | 3.2% | 3.9% | 0.7% |
| META | 3.4% | 3.0% | 0.4% |
| TSLA | 2.8% | 3.6% | 0.8% |
| LLY | 3.0% | 2.8% | 0.2% |
Where IWF 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 | IWF | VONG | Δ |
|---|---|---|---|
| Financials | 4.9% | 4.3% | +0.6pp |
| Consumer Discretionary | 7.7% | 8.2% | −0.5pp |
| Health Care | 5.7% | 5.4% | +0.3pp |
| Information Technology | 53.9% | 54.3% | −0.3pp |
| Industrials | 8.5% | 8.8% | −0.3pp |
| Cash and/or Derivatives | 0.1% | 0.3% | −0.1pp |
| Consumer Staples | 1.4% | 1.3% | +0.1pp |
| Communication Services | 16.2% | 16.1% | +0.1pp |
Δ is IWF 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
0.0% of IWF by weight, held in no part of VONG.
0.0% of VONG 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 | VONG | |
|---|---|---|
| Top 10 holdings | 56.1% | 54.3% |
| Positions held | 369 | 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 IWF and VONG overlap?
IWF and VONG overlap 94.2% by portfolio weight — they are effectively the same fund. They share 367 holdings. The figure comes from current issuer holdings files (IWF as of 2026-07-27, VONG as of 2026-06-30).
How is the overlap between IWF and VONG 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 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 IWF and VONG?
That depends on your goals — we state facts, not advice. At 94.2% overlap, most of what one fund holds, the other holds too. Expense ratios: IWF 0.19% versus VONG 0.06%.
What does IWF own that VONG doesn't?
IWF holds 369 positions and VONG holds 370; 1 of IWF's positions don't appear in VONG at all, and they are 0.0% of IWF by weight.
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Related comparisons
Sources: issuer holdings files, IWF as of 2026-07-27, VONG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.