IVW vs SMH Overlap
IVW is a U.S. growth equity ETF from IShares, while SMH is a semiconductor-focused equity ETF from VanEck. IVW and SMH show meaningful overlap, with an estimated weighted overlap of 25.44%. They share 10 holdings in the loaded dataset, led by NVDA, AVGO, and MU.
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Quick Answer
IVW is a U.S. growth equity ETF from IShares, while SMH is a semiconductor-focused equity ETF from VanEck. IVW and SMH show meaningful overlap, with an estimated weighted overlap of 25.44%. They share 10 holdings in the loaded dataset, led by NVDA, AVGO, and MU.
- 25.44% weighted overlap across 10 shared holdings.
- The top three shared holdings explain 84.6% of the measured overlap.
- IVW is the broader fund, while SMH is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- IVW holdings
- Mar 12, 2026
- SMH holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
IVW is a U.S. growth equity ETF from IShares, while SMH is a semiconductor-focused equity ETF from VanEck. IVW and SMH overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as NVDA, AVGO, and MU, which explains why the score lands at 25.44%.
How They Differ
IVW is a U.S. growth equity ETF from IShares, while SMH is a semiconductor-focused equity ETF from VanEck. IVW is the broader fund, while SMH is the more targeted sleeve. IVW has the lower expense ratio, while SMH charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 84.6% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
If you want the broader portfolio building block, IVW is usually the wider choice. If you want the more focused tilt, SMH is the narrower expression. IVW has the lower expense ratio, while SMH charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 84.6% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between IVW and SMH.
| Holding | Name | IVW Wt. | SMH Wt. | Overlap |
|---|---|---|---|---|
| NVDA | NVIDIA CORP | 14.73% | 18.90% | 14.73% |
| AVGO | BROADCOM INC | 5.31% | 7.56% | 5.31% |
| MU | MICRON TECHNOLOGY INC | 1.48% | 6.47% | 1.48% |
| AMD | ADVANCED MICRO DEVICES INC | 1.08% | 4.31% | 1.08% |
| AMAT | APPLIED MATERIAL INC | 0.90% | 5.32% | 0.90% |
| LRCX | LAM RESEARCH CORP | 0.89% | 5.41% | 0.89% |
| KLAC | KLA CORP | 0.63% | 4.96% | 0.63% |
| CDNS | CADENCE DESIGN SYSTEMS INC | 0.17% | 2.27% | 0.17% |
| MPWR | MONOLITHIC POWER SYSTEMS INC | 0.17% | 1.15% | 0.17% |
| TER | TERADYNE INC | 0.09% | 1.30% | 0.09% |
Why These ETFs Overlap
IVW is a U.S. growth equity ETF from IShares, while SMH is a semiconductor-focused equity ETF from VanEck. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NVDA, AVGO, and MU, which appear in both portfolios and push the overlap score higher.
Holding both IVW and SMH can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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Frequently Asked Questions About IVW and SMH
What is the overlap between IVW and SMH?+
How many holdings do IVW and SMH share?+
Is the IVW and SMH overlap high?+
Why do IVW and SMH overlap?+
Which ETF is broader, IVW or SMH?+
How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.