IWP vs IWR Overlap
Both funds come from IShares. IWP is a U.S. growth equity ETF, while IWR is a mid-cap U.S. equity ETF. IWP and IWR show meaningful overlap, with an estimated weighted overlap of 32.33%. They share 279 holdings in the loaded dataset, led by VRT, HWM, and PWR.
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Quick Answer
Both funds come from IShares. IWP is a U.S. growth equity ETF, while IWR is a mid-cap U.S. equity ETF. IWP and IWR show meaningful overlap, with an estimated weighted overlap of 32.33%. They share 279 holdings in the loaded dataset, led by VRT, HWM, and PWR.
- 32.33% weighted overlap across 279 shared holdings.
- The top three shared holdings explain 6.92% of the measured overlap.
- IWP and IWR 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
- IWP holdings
- Mar 12, 2026
- IWR 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. IWP is a U.S. growth equity ETF, while IWR is a mid-cap U.S. equity ETF. IWP and IWR overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as VRT, HWM, and PWR, which explains why the score lands at 32.33%.
How They Differ
Both funds come from IShares. IWP is a U.S. growth equity ETF, while IWR is a mid-cap U.S. equity ETF. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. IWR has the lower expense ratio, while IWP 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 6.92% 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 IWP and IWR are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. IWR has the lower expense ratio, while IWP charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 6.92% 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 IWP and IWR.
| Holding | Name | IWP Wt. | IWR Wt. | Overlap |
|---|---|---|---|---|
| VRT | VERTIV HOLDINGS CLASS A | 3.55% | 0.80% | 0.80% |
| HWM | HOWMET AEROSPACE INC | 3.52% | 0.79% | 0.79% |
| PWR | QUANTA SERVICES INC | 2.22% | 0.65% | 0.65% |
| 0I1W.L | ROYAL CARIBBEAN GROUP LTD | 2.49% | 0.56% | 0.56% |
| HLT | HILTON WORLDWIDE HOLDINGS INC | 2.35% | 0.53% | 0.53% |
| NET | CLOUDFLARE INC CLASS A | 2.25% | 0.51% | 0.51% |
| COR | CENCORA INC | 2.23% | 0.50% | 0.50% |
| SPG | SIMON PROPERTY GROUP REIT INC | 0.48% | 0.48% | 0.48% |
| ROST | ROSS STORES INC | 0.47% | 0.53% | 0.47% |
| VST | VISTRA CORP | 1.92% | 0.43% | 0.43% |
Why These ETFs Overlap
Both funds come from IShares. IWP is a U.S. growth equity ETF, while IWR is a mid-cap U.S. equity ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are VRT, HWM, and PWR, which appear in both portfolios and push the overlap score higher.
Holding both IWP and IWR 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 IWP and IWR
What is the overlap between IWP and IWR?+
How many holdings do IWP and IWR share?+
Is the IWP and IWR overlap high?+
Why do IWP and IWR overlap?+
Which ETF is broader, IWP or IWR?+
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.