IWF vs VOOG: 76% overlap
iShares Russell 1000 Growth ETF and Vanguard S&P 500 Growth ETF share 76.4% 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 1.2. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IWF and VOOG hold 105 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IWF | in VOOG | Δ |
|---|---|---|---|
| NVDA | 15.1% | 13.7% | 1.5% |
| AAPL | 7.8% | 6.0% | 1.8% |
| GOOGL | 5.7% | 5.9% | 0.2% |
| AVGO | 5.7% | 5.0% | 0.6% |
| GOOG | 4.7% | 4.7% | 0.0% |
| MSFT | 4.4% | 7.8% | 3.4% |
| MU | 3.5% | 3.7% | 0.2% |
| META | 3.4% | 3.5% | 0.1% |
| LLY | 2.9% | 2.7% | 0.3% |
| AMD | 2.7% | 2.7% | 0.1% |
Where IWF and VOOG 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 | VOOG | Δ |
|---|---|---|---|
| Financials | 4.7% | 8.5% | −3.8pp |
| Information Technology | 55.0% | 52.2% | +2.7pp |
| Industrials | 8.5% | 6.9% | +1.7pp |
| Consumer Discretionary | 7.5% | 8.5% | −1.0pp |
| Health Care | 5.6% | 6.2% | −0.6pp |
| Energy | 0.5% | 0.0% | +0.5pp |
| Communication Services | 15.7% | 15.2% | +0.5pp |
| Consumer Staples | 1.3% | 1.1% | +0.2pp |
Δ is IWF minus VOOG, 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
13.7% of IWF by weight, held in no part of VOOG.
12.5% of VOOG 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 | VOOG | |
|---|---|---|
| Top 10 holdings | 56.1% | 56.4% |
| Positions held | 370 | 148 |
| Cost per $10,000 held, per year | $19 | $7 |
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 VOOG overlap?
IWF and VOOG overlap 76.4% by portfolio weight — substantial duplication if you hold both. They share 105 holdings. The figure comes from current issuer holdings files (IWF as of 2026-07-23, VOOG as of 2026-06-30).
How is the overlap between IWF and VOOG 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 VOOG 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 VOOG?
That depends on your goals — we state facts, not advice. At 76.4% overlap, most of what one fund holds, the other holds too. Expense ratios: IWF 0.19% versus VOOG 0.07%.
What does IWF own that VOOG doesn't?
IWF holds 370 positions and VOOG holds 148; 264 of IWF's positions don't appear in VOOG at all, and they are 13.7% of IWF by weight.
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Related comparisons
Sources: issuer holdings files, IWF as of 2026-07-23, VOOG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.