IWD vs MTUM Overlap
Both funds come from IShares. IWD is a U.S. value equity ETF, while MTUM is an equity ETF. IWD and MTUM show meaningful overlap, with an estimated weighted overlap of 29.9%. They share 89 holdings in the loaded dataset, led by JPM, GOOGL, and XOM.
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Quick Answer
Both funds come from IShares. IWD is a U.S. value equity ETF, while MTUM is an equity ETF. IWD and MTUM show meaningful overlap, with an estimated weighted overlap of 29.9%. They share 89 holdings in the loaded dataset, led by JPM, GOOGL, and XOM.
- 29.9% weighted overlap across 89 shared holdings.
- The top three shared holdings explain 22.06% of the measured overlap.
- IWD and MTUM are closer in breadth than a broad-vs-niche ETF pair.
- 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
- IWD holdings
- Mar 12, 2026
- MTUM 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
Both funds come from IShares. IWD is a U.S. value equity ETF, while MTUM is an equity ETF. IWD and MTUM overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as JPM, GOOGL, and XOM, which explains why the score lands at 29.9%.
How They Differ
Both funds come from IShares. IWD is a U.S. value equity ETF, while MTUM is an equity ETF. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. MTUM has the lower expense ratio, while IWD 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 22.06% 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
Because IWD and MTUM are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. MTUM has the lower expense ratio, while IWD charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 22.06% 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 IWD and MTUM.
| Holding | Name | IWD Wt. | MTUM Wt. | Overlap |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | 2.53% | 3.02% | 2.53% |
| GOOGL | ALPHABET INC CLASS A | 2.04% | 2.69% | 2.04% |
| XOM | EXXON MOBIL CORP | 2.02% | 3.77% | 2.02% |
| JNJ | JOHNSON & JOHNSON | 1.89% | 4.55% | 1.89% |
| GOOG | ALPHABET INC CLASS C | 1.66% | 2.19% | 1.66% |
| WMT | WALMART INC | 1.58% | 2.99% | 1.58% |
| MU | MICRON TECHNOLOGY INC | 1.45% | 4.96% | 1.45% |
| CAT | CATERPILLAR INC | 0.94% | 2.95% | 0.94% |
| RTX | RTX CORP | 0.89% | 1.97% | 0.89% |
| WFC | WELLS FARGO | 0.79% | 1.37% | 0.79% |
Why These ETFs Overlap
Both funds come from IShares. IWD is a U.S. value equity ETF, while MTUM is an equity ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are JPM, GOOGL, and XOM, which appear in both portfolios and push the overlap score higher.
Holding both IWD and MTUM 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 IWD and MTUM
What is the overlap between IWD and MTUM?+
How many holdings do IWD and MTUM share?+
Is the IWD and MTUM overlap high?+
Why do IWD and MTUM overlap?+
Which ETF is broader, IWD or MTUM?+
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.