IWM vs VBR Overlap
IWM is an equity ETF from IShares, while VBR is a U.S. value equity ETF from Vanguard. IWM and VBR show meaningful overlap, with an estimated weighted overlap of 25.25%. They share 426 holdings in the loaded dataset, led by TTMI, MOG-A, and UMBF.
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Quick Answer
IWM is an equity ETF from IShares, while VBR is a U.S. value equity ETF from Vanguard. IWM and VBR show meaningful overlap, with an estimated weighted overlap of 25.25%. They share 426 holdings in the loaded dataset, led by TTMI, MOG-A, and UMBF.
- 25.25% weighted overlap across 426 shared holdings.
- The top three shared holdings explain 2.49% of the measured overlap.
- IWM and VBR 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
- IWM holdings
- Mar 12, 2026
- VBR 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
IWM is an equity ETF from IShares, while VBR is a U.S. value equity ETF from Vanguard. IWM and VBR overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as TTMI, MOG-A, and UMBF, which explains why the score lands at 25.25%.
How They Differ
IWM is an equity ETF from IShares, while VBR is a U.S. value equity ETF from Vanguard. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VBR has the lower expense ratio, while IWM 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 2.49% 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 IWM and VBR are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VBR has the lower expense ratio, while IWM charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 2.49% 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 IWM and VBR.
| Holding | Name | IWM Wt. | VBR Wt. | Overlap |
|---|---|---|---|---|
| TTMI | TTM TECHNOLOGIES INC | 0.33% | 0.22% | 0.22% |
| MOG-A | MOOG INC CLASS A | 0.30% | 0.20% | 0.20% |
| UMBF | UMB FINANCIAL CORP | 0.28% | 0.20% | 0.20% |
| ONB | OLD NATIONAL BANCORP | 0.26% | 0.20% | 0.20% |
| CMC | COMMERCIAL METALS | 0.25% | 0.20% | 0.20% |
| WTS | WATTS WATER TECHNOLOGIES INC CLASS | 0.28% | 0.19% | 0.19% |
| COMP | COMPASS INC CLASS A | 0.19% | 0.20% | 0.19% |
| LUMN | LUMEN TECHNOLOGIES INC | 0.22% | 0.19% | 0.19% |
| JXN | JACKSON FINANCIAL INC CLASS A | 0.25% | 0.19% | 0.19% |
| PRIM | PRIMORIS SERVICES CORP | 0.24% | 0.18% | 0.18% |
Why These ETFs Overlap
IWM is an equity ETF from IShares, while VBR is a U.S. value equity ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are TTMI, MOG-A, and UMBF, which appear in both portfolios and push the overlap score higher.
Holding both IWM and VBR 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 IWM and VBR
What is the overlap between IWM and VBR?+
How many holdings do IWM and VBR share?+
Is the IWM and VBR overlap high?+
Why do IWM and VBR overlap?+
Which ETF is broader, IWM or VBR?+
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.