FMAT vs IWM: Holdings Overlap
FMATFidelity MSCI Materials Index ETF
Fidelity · 103 holdings · $579M · as of 2026-04-30
iShares · 1941 holdings · $82.2B · as of 2026-03-31
Holdings snapshots are 30 days apart (FMAT: 2026-04-30, IWM: 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 FMAT and IWM?
Fidelity MSCI Materials Index ETF (FMAT, by Fidelity) holds 103 positions; iShares Russell 2000 ETF (IWM, by iShares) holds 1941. They have 46 holdings in common, and by portfolio weight the two funds are 4.3% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 46FMAT holds 103 · IWM holds 1941
- Weight in Shared Holdings
- FMAT 8%·IWM 4%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 FMAT
57 of 103 positions (91.3% of the fund) are not held by IWM. Showing the top 30 by weight.
Only in IWM
1895 of 1941 positions (95.4% of the fund) are not held by FMAT. Showing the top 30 by weight.
Sector Breakdown
| Sector | FMAT | IWM |
|---|---|---|
| Materials | 99.5% | 4.5% |
| Industrials | 0.0% | 17.9% |
| Health Care | 0.0% | 16.6% |
| Financials | 0.0% | 15.3% |
| Information Technology | 0.0% | 13.6% |
| Other Sectors | 0.3% | 26.3% |
| Unclassified | 0.0% | 5.5% |
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 (0% of FMAT, 5% of IWM).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FMAT | +3.2% | +14.7% | +20.8% | +10.3% | +6.9% | +10.0% | 1.38% |
| IWM | +1.8% | +23.0% | +38.6% | +17.1% | +7.5% | +10.8% | 0.88% |
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 FMAT vs IWM →
Shared Holdings(46)
The top 10 shared positions account for 54% of the overlap, led by CDE, HL and CMC.
 CDECoeur Mining, Inc. | 1.19% | 0.65% | 0.65% |
|---|---|---|---|
 HLHecla Mining Co. | 0.77% | 0.40% | 0.40% |
 CMCCommercial Metals Co. | 0.49% | 0.23% | 0.23% |
 BCPCBalchem Corp. | 0.34% | 0.19% | 0.19% |
 HCCWarrior Met Coal, Inc. | 0.30% | 0.17% | 0.17% |
 KNFKnife River Corp. | 0.34% | 0.16% | 0.16% |
 CBTCabot Corp. | 0.26% | 0.13% | 0.13% |
 SXTSensient Technologies Corp. | 0.26% | 0.12% | 0.12% |
 PRMPerimeter Solutions, Inc. | 0.27% | 0.12% | 0.12% |
 CSTMConstellium SE, Class A | 0.25% | 0.12% | 0.12% |
 FULHB Fuller Co. | 0.21% | 0.11% | 0.11% |
 AVNTAvient Corp. | 0.22% | 0.11% | 0.11% |
 CENXCentury Aluminum Co. | 0.21% | 0.11% | 0.11% |
 CCChemours Co. (The) | 0.26% | 0.11% | 0.11% |
 HWKNHawkins, Inc. | 0.21% | 0.10% | 0.10% |
 MTRNMaterion Corp. | 0.24% | 0.10% | 0.10% |
 USARUSA Rare Earth, Inc. | 0.13% | 0.09% | 0.09% |
 NGVTIngevity Corp. | 0.18% | 0.09% | 0.09% |
 PPTAPerpetua Resources Corp. | 0.15% | 0.08% | 0.08% |
 AMRAlpha Metallurgical Resources, Inc. | 0.13% | 0.08% | 0.08% |
 MTXMinerals Technologies, Inc. | 0.14% | 0.08% | 0.08% |
 KALUKaiser Aluminum Corp. | 0.18% | 0.07% | 0.07% |
 IOSPInnospec, Inc. | 0.12% | 0.06% | 0.06% |
 KWRQuaker Chemical Corp. | 0.12% | 0.06% | 0.06% |
 GEFGreif, Inc., Class A | 0.10% | 0.06% | 0.06% |
Frequently Asked Questions
How much do FMAT and IWM overlap?
FMAT and IWM overlap by 4.3% of portfolio weight. They share 46 holdings (FMAT holds 103 positions and IWM holds 1941), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FMAT and IWM?
The two portfolios are 4.3% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of FMAT and IWM?
The largest positions held by both funds are CDE, HL, CMC, BCPC and HCC. Together the top 10 shared positions account for 54% of the total overlap.
What does FMAT own that IWM doesn't?
57 positions (91.3% of FMAT) are unique to FMAT, led by LIN, NEM and FCX. In the other direction, 1895 positions (95.4% of IWM) are unique to IWM.