IWP vs VO Overlap
IWP is a U.S. growth equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWP and VO show meaningful overlap, with an estimated weighted overlap of 23.6%. They share 80 holdings in the loaded dataset, led by HWM, PWR, and VRT.
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Quick Answer
IWP is a U.S. growth equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWP and VO show meaningful overlap, with an estimated weighted overlap of 23.6%. They share 80 holdings in the loaded dataset, led by HWM, PWR, and VRT.
- 23.6% weighted overlap across 80 shared holdings.
- The top three shared holdings explain 10.14% of the measured overlap.
- IWP and VO 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
- VO 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
IWP is a U.S. growth equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWP and VO overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as HWM, PWR, and VRT, which explains why the score lands at 23.6%.
How They Differ
IWP is a U.S. growth equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VO 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 10.14% 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 VO are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VO has the lower expense ratio, while IWP charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 10.14% 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 VO.
| Holding | Name | IWP Wt. | VO Wt. | Overlap |
|---|---|---|---|---|
| HWM | HOWMET AEROSPACE INC | 3.52% | 0.89% | 0.89% |
| PWR | QUANTA SERVICES INC | 2.22% | 0.76% | 0.76% |
| VRT | VERTIV HOLDINGS CLASS A | 3.55% | 0.75% | 0.75% |
| COR | CENCORA INC | 2.23% | 0.71% | 0.71% |
| CVNA | CARVANA CLASS A | 1.49% | 0.57% | 0.57% |
| VST | VISTRA CORP | 1.92% | 0.57% | 0.57% |
| IDXX | IDEXX LABORATORIES INC | 1.65% | 0.57% | 0.57% |
| NET | CLOUDFLARE INC CLASS A | 2.25% | 0.57% | 0.57% |
| MPWR | MONOLITHIC POWER SYSTEMS INC | 1.69% | 0.55% | 0.55% |
| CAH | CARDINAL HEALTH INC | 0.90% | 0.55% | 0.55% |
Why These ETFs Overlap
IWP is a U.S. growth equity ETF from IShares, while VO is a mid-cap U.S. 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 HWM, PWR, and VRT, which appear in both portfolios and push the overlap score higher.
Holding both IWP and VO 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 VO
What is the overlap between IWP and VO?+
How many holdings do IWP and VO share?+
Is the IWP and VO overlap high?+
Why do IWP and VO overlap?+
Which ETF is broader, IWP or VO?+
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.