FMAT vs IWO: Holdings Overlap
FMATFidelity MSCI Materials Index ETF
Fidelity · 103 holdings · $579M · 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 (FMAT: 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 FMAT and IWO?
Fidelity MSCI Materials Index ETF (FMAT, by Fidelity) holds 103 positions; iShares Russell 2000 Growth ETF (IWO, by iShares) holds 1101. They have 28 holdings in common, and by portfolio weight the two funds are 3.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 28FMAT holds 103 · IWO holds 1101
- Weight in Shared Holdings
- FMAT 6%·IWO 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
75 of 103 positions (93.8% of the fund) are not held by IWO. Showing the top 30 by weight.
Only in IWO
1073 of 1101 positions (96.0% of the fund) are not held by FMAT. Showing the top 30 by weight.
Sector Breakdown
| Sector | FMAT | IWO |
|---|---|---|
| Materials | 99.5% | 3.8% |
| Industrials | 0.0% | 23.7% |
| Health Care | 0.0% | 23.1% |
| Information Technology | 0.0% | 19.0% |
| Financials | 0.0% | 8.6% |
| Other Sectors | 0.3% | 17.6% |
| Unclassified | 0.0% | 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 (0% of FMAT, 4% of IWO).
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% |
| 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 FMAT vs IWO →
Shared Holdings(28)
The top 10 shared positions account for 74% of the overlap, led by CDE, BCPC and KNF.
 CDECoeur Mining, Inc. | 1.19% | 0.64% | 0.64% |
|---|---|---|---|
 BCPCBalchem Corp. | 0.34% | 0.37% | 0.34% |
 KNFKnife River Corp. | 0.34% | 0.31% | 0.31% |
 CBTCabot Corp. | 0.26% | 0.25% | 0.25% |
 SXTSensient Technologies Corp. | 0.26% | 0.24% | 0.24% |
 CCChemours Co. (The) | 0.26% | 0.22% | 0.22% |
 CENXCentury Aluminum Co. | 0.21% | 0.22% | 0.21% |
 HWKNHawkins, Inc. | 0.21% | 0.20% | 0.20% |
 HLHecla Mining Co. | 0.77% | 0.19% | 0.19% |
 NGVTIngevity Corp. | 0.18% | 0.17% | 0.17% |
 PPTAPerpetua Resources Corp. | 0.15% | 0.16% | 0.15% |
 USARUSA Rare Earth, Inc. | 0.13% | 0.09% | 0.09% |
 CSTMConstellium SE, Class A | 0.25% | 0.08% | 0.08% |
 USLMUnited States Lime & Minerals, Inc. | 0.08% | 0.10% | 0.08% |
 IEIvanhoe Electric Inc / US | 0.08% | 0.07% | 0.07% |
 UAMYUnited States Antimony Corp. | 0.09% | 0.07% | 0.07% |
 KALUKaiser Aluminum Corp. | 0.18% | 0.07% | 0.07% |
 AMRAlpha Metallurgical Resources, Inc. | 0.13% | 0.05% | 0.05% |
 PCTPureCycle Technologies, Inc. | 0.06% | 0.05% | 0.05% |
 MTRNMaterion Corp. | 0.24% | 0.04% | 0.04% |
 CMPCompass Minerals International, Inc. | 0.06% | 0.04% | 0.04% |
 METCRamaco Resources, Inc., Class A | 0.04% | 0.04% | 0.04% |
 NBNioCorp Developments Ltd. | 0.06% | 0.04% | 0.04% |
 ASPIASP Isotopes, Inc. | 0.04% | 0.03% | 0.03% |
 OIO-I Glass, Inc. | 0.09% | 0.03% | 0.03% |
Frequently Asked Questions
How much do FMAT and IWO overlap?
FMAT and IWO overlap by 3.7% of portfolio weight. They share 28 holdings (FMAT holds 103 positions and IWO holds 1101), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FMAT and IWO?
The two portfolios are 3.7% 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 IWO?
The largest positions held by both funds are CDE, BCPC, KNF, CBT and SXT. Together the top 10 shared positions account for 74% of the total overlap.
What does FMAT own that IWO doesn't?
75 positions (93.8% of FMAT) are unique to FMAT, led by LIN, NEM and FCX. In the other direction, 1073 positions (96.0% of IWO) are unique to IWO.