DFAS vs IWO: Holdings Overlap
DFASDimensional U.S. Small Cap ETF
Dimensional · 2121 holdings · $15.3B · as of 2026-04-30
IWOiShares Russell 2000 Growth ETF
iShares · 1101 holdings · $14.8B · as of 2026-03-31
Holdings snapshots are 30 days apart (DFAS: 2026-04-30, IWO: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are DFAS and IWO?
Dimensional U.S. Small Cap ETF (DFAS, by Dimensional) holds 2121 positions; iShares Russell 2000 Growth ETF (IWO, by iShares) holds 1101. They have 778 holdings in common, and by portfolio weight the two funds are 30.1% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 30.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 778DFAS holds 2121 · IWO holds 1101
- Weight in Shared Holdings
- DFAS 35%·IWO 76%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in DFAS
1343 of 2121 positions (65.0% of the fund) are not held by IWO. Showing the top 30 by weight.
Sector Breakdown
| Sector | DFAS | IWO |
|---|---|---|
| Industrials | 20.6% | 23.7% |
| Health Care | 11.1% | 23.1% |
| Financials | 19.2% | 8.6% |
| Information Technology | 12.0% | 19.0% |
| Consumer Discretionary | 12.4% | 7.3% |
| Other Sectors | 21.9% | 14.1% |
| Unclassified | 2.7% | 4.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (3% of DFAS, 4% of IWO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAS | +3.2% | +20.5% | +31.3% | +14.8% | +9.1% | — | 0.95% |
| IWO | +1.2% | +21.0% | +34.7% | +17.5% | +5.9% | +11.0% | 0.42% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in DFAS vs IWO →
Shared Holdings(778)
The top 10 shared positions account for 8% of the overlap, led by AEIS, MOD and IESC.
 AEISAdvanced Energy Industries, Inc. COM | 0.29% | 0.82% | 0.29% |
|---|---|---|---|
 MODModine Manufacturing Co. COM | 0.28% | 0.76% | 0.28% |
 IESCIES Holdings Inc. COM | 0.25% | 0.29% | 0.25% |
 RMBSRambus Inc. COM | 0.24% | 0.62% | 0.24% |
 VIAVViavi Solutions Inc COM | 0.23% | 0.51% | 0.23% |
 ENSGEnsign Group, Inc. (The) | 0.22% | 0.76% | 0.22% |
 FCFSFirstcash Holdings Inc COM | 0.21% | 0.50% | 0.21% |
 FORMFormfactor Inc COM | 0.21% | 0.38% | 0.21% |
 POWLPowell Industries Inc. COM | 0.21% | 0.35% | 0.21% |
 SANMSanmina Corporation | 0.24% | 0.21% | 0.21% |
 SPXCSPX Technologies, Inc. COM | 0.21% | 0.65% | 0.21% |
 PLPlanet Labs PBC, Class A | 0.20% | 0.51% | 0.20% |
 PRIMPrimoris Services Corp. COM | 0.20% | 0.49% | 0.20% |
 STRLSterling Infrastructure Inc COM | 0.20% | 0.81% | 0.20% |
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 0.19% | 0.86% | 0.19% |
 HLHecla Mining Company COM | 0.23% | 0.19% | 0.19% |
 SNEXStoneX Group Inc COM | 0.19% | 0.40% | 0.19% |
 AGXArgan Inc COM | 0.18% | 0.49% | 0.18% |
 DYDycom Industries, Inc. COM | 0.18% | 0.66% | 0.18% |
 VICRVicor Corporation | 0.18% | 0.25% | 0.18% |
 MOG-AMoog, Inc., Class A | 0.18% | 0.55% | 0.18% |
 ESEESCO Technologies Inc. COM | 0.18% | 0.49% | 0.18% |
 LUMNLumen Technologies Inc COM | 0.17% | 0.39% | 0.17% |
 DOCNDigitalOcean Holdings Inc COM | 0.17% | 0.44% | 0.17% |
 IDCCInterDigital, Inc. COM | 0.17% | 0.52% | 0.17% |
Showing the top 250 of 778 shared holdings by overlap weight.
Frequently Asked Questions
How much do DFAS and IWO overlap?
DFAS and IWO overlap by 30.1% of portfolio weight. They share 778 holdings (DFAS holds 2121 positions and IWO holds 1101), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAS and IWO?
The two portfolios are 30.1% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of DFAS and IWO?
The largest positions held by both funds are AEIS, MOD, IESC, RMBS and VIAV. Together the top 10 shared positions account for 8% of the total overlap.
What does DFAS own that IWO doesn't?
1343 positions (65.0% of DFAS) are unique to DFAS, led by AMKR, TTMI and WCC. In the other direction, 323 positions (24.0% of IWO) are unique to IWO.