IWR vs SCHV Overlap
IWR is a mid-cap U.S. equity ETF from IShares, while SCHV is a U.S. value equity ETF from Schwab. IWR and SCHV show meaningful overlap, with an estimated weighted overlap of 28.6%. They share 391 holdings in the loaded dataset, led by GLW, HWM, and WDC.
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Quick Answer
IWR is a mid-cap U.S. equity ETF from IShares, while SCHV is a U.S. value equity ETF from Schwab. IWR and SCHV show meaningful overlap, with an estimated weighted overlap of 28.6%. They share 391 holdings in the loaded dataset, led by GLW, HWM, and WDC.
- 28.6% weighted overlap across 391 shared holdings.
- The top three shared holdings explain 3.67% of the measured overlap.
- SCHV is the broader fund, while IWR 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
- IWR holdings
- Mar 12, 2026
- SCHV 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
IWR is a mid-cap U.S. equity ETF from IShares, while SCHV is a U.S. value equity ETF from Schwab. IWR and SCHV overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as GLW, HWM, and WDC, which explains why the score lands at 28.6%.
How They Differ
IWR is a mid-cap U.S. equity ETF from IShares, while SCHV is a U.S. value equity ETF from Schwab. SCHV is the broader fund, while IWR is the more targeted sleeve. SCHV has the lower expense ratio, while IWR 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 3.67% 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, SCHV is usually the wider choice. If you want the more focused tilt, IWR is the narrower expression. SCHV has the lower expense ratio, while IWR charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 3.67% 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 IWR and SCHV.
| Holding | Name | IWR Wt. | SCHV Wt. | Overlap |
|---|---|---|---|---|
| GLW | CORNING INC | 0.83% | 0.37% | 0.37% |
| HWM | HOWMET AEROSPACE INC | 0.79% | 0.36% | 0.36% |
| WDC | WESTERN DIGITAL CORP | 0.70% | 0.32% | 0.32% |
| BK | BANK OF NEW YORK MELLON CORP | 0.63% | 0.28% | 0.28% |
| CMI | CUMMINS INC | 0.60% | 0.27% | 0.27% |
| ROST | ROSS STORES INC | 0.53% | 0.24% | 0.24% |
| WBD | WARNER BROS. DISCOVERY INC SERIES | 0.50% | 0.24% | 0.24% |
| COR | CENCORA INC | 0.50% | 0.24% | 0.24% |
| LHX | L3HARRIS TECHNOLOGIES INC | 0.53% | 0.24% | 0.24% |
| VLO | VALERO ENERGY CORP | 0.51% | 0.23% | 0.23% |
Why These ETFs Overlap
IWR is a mid-cap U.S. equity ETF from IShares, while SCHV is a U.S. value equity ETF from Schwab. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are GLW, HWM, and WDC, which appear in both portfolios and push the overlap score higher.
Holding both IWR and SCHV 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 IWR and SCHV
What is the overlap between IWR and SCHV?+
How many holdings do IWR and SCHV share?+
Is the IWR and SCHV overlap high?+
Why do IWR and SCHV overlap?+
Which ETF is broader, IWR or SCHV?+
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.