FNDF vs IPAC: Holdings Overlap
FNDFSchwab Fundamental International Equity ETF
Schwab · 888 holdings · $25.2B · as of 2026-05-31
IPACiShares Core MSCI Pacific ETF
iShares · 1375 holdings · $2.7B · as of 2026-04-30
Holdings snapshots are 31 days apart (FNDF: 2026-05-31, IPAC: 2026-04-30). 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 FNDF and IPAC?
Schwab Fundamental International Equity ETF (FNDF, by Schwab) holds 888 positions; iShares Core MSCI Pacific ETF (IPAC, by iShares) holds 1375. They have 326 holdings in common, and by portfolio weight the two funds are 27.9% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 27.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 326FNDF holds 888 · IPAC holds 1375
- Weight in Shared Holdings
- FNDF 29%·IPAC 78%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 FNDF
562 of 888 positions (70.3% of the fund) are not held by IPAC. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDF | IPAC |
|---|---|---|
| Financials | 15.8% | 20.1% |
| Industrials | 11.4% | 15.3% |
| Information Technology | 12.3% | 9.0% |
| Energy | 10.0% | 1.2% |
| Materials | 9.5% | 6.3% |
| Other Sectors | 27.2% | 25.1% |
| Unclassified | 13.1% | 22.2% |
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 (13% of FNDF, 22% of IPAC).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FNDF | +4.2% | +22.8% | +39.1% | +23.1% | +14.5% | +12.0% | 2.97% |
| IPAC | +4.8% | +18.9% | +27.2% | +18.2% | +9.0% | +9.1% | 3.71% |
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 FNDF vs IPAC →
Shared Holdings(326)
The top 10 shared positions account for 20% of the overlap, led by BHP, 7203 and 8058.
 BHPBHP Group Ltd. | 1.22% | 2.19% | 1.22% |
|---|---|---|---|
 7203Toyota Motor Corp. NPV | 0.89% | 1.98% | 0.89% |
 8058Mitsubishi Corp. NPV | 0.62% | 1.12% | 0.62% |
 6752Panasonic Holdings Corporation COMMON STOCK | 0.50% | 0.52% | 0.50% |
 6981Murata Manufacturing Co Ltd. NPV | 0.47% | 0.60% | 0.47% |
 8031Mitsui & Co Ltd. NPV | 0.46% | 1.01% | 0.46% |
 9984SoftBank Group Corp. | 0.41% | 1.38% | 0.41% |
 6501Hitachi Ltd. NPV | 0.40% | 1.59% | 0.40% |
 8001ITOCHU Corp. NPV | 0.37% | 0.80% | 0.37% |
 5802Sumitomo Electric Industries Ltd. NPV | 0.35% | 0.51% | 0.35% |
 6503Mitsubishi Electric Corp. NPV | 0.33% | 0.83% | 0.33% |
 4063Shin-Etsu Chemical Co Ltd. NPV | 0.33% | 0.85% | 0.33% |
 RIORio Tinto Ltd. | 0.33% | 0.50% | 0.33% |
 7267Honda Motor Co Ltd. NPV | 0.42% | 0.32% | 0.32% |
 8306Mitsubishi UFJ Financial Group Inc. NPV | 0.32% | 2.21% | 0.32% |
 8316Sumitomo Mitsui Financial Group Inc. NPV | 0.32% | 1.41% | 0.32% |
 6758Sony Group Corp. NPV | 0.30% | 1.34% | 0.30% |
 CBACommonwealth Bank of Australia | 0.29% | 2.30% | 0.29% |
 4502Takeda Pharmaceutical Co Ltd. NPV | 0.28% | 0.58% | 0.28% |
 8035Tokyo Electron Ltd. NPV | 0.27% | 1.44% | 0.27% |
 1299AIA Group Ltd. | 0.27% | 1.25% | 0.27% |
 8002Marubeni Corp. NPV | 0.27% | 0.60% | 0.27% |
 8053Sumitomo Corp. NPV | 0.27% | 0.44% | 0.27% |
 9433KDDI Corp. | 0.26% | 0.53% | 0.26% |
 5020Eneos Holdings Inc NPV | 0.30% | 0.25% | 0.25% |
Showing the top 250 of 326 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDF and IPAC overlap?
FNDF and IPAC overlap by 27.9% of portfolio weight. They share 326 holdings (FNDF holds 888 positions and IPAC holds 1375), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDF and IPAC?
The two portfolios are 27.9% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of FNDF and IPAC?
The largest positions held by both funds are BHP, 7203, 8058, 6752 and 6981. Together the top 10 shared positions account for 20% of the total overlap.
What does FNDF own that IPAC doesn't?
562 positions (70.3% of FNDF) are unique to FNDF, led by 005930, SHEL and TTE. In the other direction, 1049 positions (21.6% of IPAC) are unique to IPAC.