IWR vs VO Overlap
IWR is a mid-cap U.S. equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWR and VO show heavy overlap, with an estimated weighted overlap of 55.77%. They share 229 holdings in the loaded dataset, led by GLW, HWM, and VRT.
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Quick Answer
IWR is a mid-cap U.S. equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWR and VO show heavy overlap, with an estimated weighted overlap of 55.77%. They share 229 holdings in the loaded dataset, led by GLW, HWM, and VRT.
- 55.77% weighted overlap across 229 shared holdings.
- The top three shared holdings explain 4.24% of the measured overlap.
- IWR 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
- IWR 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
IWR is a mid-cap U.S. equity ETF from IShares, while VO is a mid-cap U.S. equity ETF from Vanguard. IWR and VO share a large chunk of the same portfolio weight. The overlap is driven by positions like GLW, HWM, and VRT, so owning both may not diversify your stock exposure as much as the fund names suggest.
How They Differ
IWR is a mid-cap U.S. 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 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 4.24% 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 IWR 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 IWR charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 4.24% 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 VO.
| Holding | Name | IWR Wt. | VO Wt. | Overlap |
|---|---|---|---|---|
| GLW | CORNING INC | 0.83% | 0.85% | 0.83% |
| HWM | HOWMET AEROSPACE INC | 0.79% | 0.89% | 0.79% |
| VRT | VERTIV HOLDINGS CLASS A | 0.80% | 0.75% | 0.75% |
| WDC | WESTERN DIGITAL CORP | 0.70% | 0.91% | 0.70% |
| PWR | QUANTA SERVICES INC | 0.65% | 0.76% | 0.65% |
| CMI | CUMMINS INC | 0.60% | 0.85% | 0.60% |
| ROST | ROSS STORES INC | 0.53% | 0.66% | 0.53% |
| LHX | L3HARRIS TECHNOLOGIES INC | 0.53% | 0.68% | 0.53% |
| VLO | VALERO ENERGY CORP | 0.51% | 0.59% | 0.51% |
| PSX | PHILLIPS | 0.51% | 0.62% | 0.51% |
Why These ETFs Overlap
IWR is a mid-cap U.S. 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 GLW, HWM, and VRT, which appear in both portfolios and push the overlap score higher.
Holding both IWR and VO may add less diversification than you expect. Many investors would choose the ETF that best matches their goal and avoid paying for duplicate exposure.
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Frequently Asked Questions About IWR and VO
What is the overlap between IWR and VO?+
How many holdings do IWR and VO share?+
Is the IWR and VO overlap high?+
Why do IWR and VO overlap?+
Which ETF is broader, IWR 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.