IWM vs XAR: Holdings Overlap
iShares · 1941 holdings · $82.2B · as of 2026-03-31
XARState Street® SPDR® S&P® Aerospace & Defense ETF
State Street (SPDR) · 47 holdings · $6.4B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWM: 2026-03-31, XAR: 2026-08-06). 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 IWM and XAR?
iShares Russell 2000 ETF (IWM, by iShares) holds 1941 positions; State Street® SPDR® S&P® Aerospace & Defense ETF (XAR, by State Street (SPDR)) holds 47. They have 21 holdings in common, and by portfolio weight the two funds are 2.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21IWM holds 1941 · XAR holds 47
- Weight in Shared Holdings
- IWM 2%·XAR 32%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 IWM
1920 of 1941 positions (97.6% of the fund) are not held by XAR. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWM | XAR |
|---|---|---|
| Industrials | 17.9% | 98.4% |
| Health Care | 16.6% | 0.0% |
| Financials | 15.3% | 0.0% |
| Information Technology | 13.6% | 0.0% |
| Consumer Discretionary | 8.0% | 0.0% |
| Other Sectors | 22.7% | 0.0% |
| Unclassified | 5.5% | 1.6% |
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 (5% of IWM, 2% of XAR).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWM | +1.8% | +23.0% | +38.6% | +17.1% | +7.5% | +10.8% | 0.88% |
| XAR | +2.7% | +19.0% | +33.7% | +33.2% | +18.5% | +18.1% | 0.28% |
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 IWM vs XAR →
Shared Holdings(21)
The top 10 shared positions account for 85% of the overlap, led by KTOS, MOG-A and AVAV.
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 0.43% | 2.71% | 0.43% |
|---|---|---|---|
 MOG-AMoog, Inc., Class A | 0.28% | 2.78% | 0.28% |
 AVAVAeroVironment, Inc. COM | 0.24% | 2.56% | 0.24% |
 VSECVSE Corp. COM | 0.17% | 3.37% | 0.17% |
 AIRAAR Corp. COM | 0.15% | 2.72% | 0.15% |
 MRCYMercury Systems Inc COM | 0.13% | 2.01% | 0.13% |
 ACHRArcher Aviation, Inc., Class A | 0.11% | 2.68% | 0.11% |
 ATROAstronics Corp. COM | 0.07% | 1.95% | 0.07% |
 LUNRIntuitive Machines Inc CLASS A COM | 0.07% | 1.46% | 0.07% |
 VVXV2X Inc COM | 0.06% | 1.19% | 0.06% |
 DCODucommun Incorporated COM | 0.06% | 1.55% | 0.06% |
 RCATRed Cat Holdings Inc. COM | 0.05% | 1.09% | 0.05% |
 VOYGVoyager Technologies, Inc., Class A | 0.04% | 0.42% | 0.04% |
 RDWRedwire Corporation COM | 0.03% | 1.55% | 0.03% |
 CDRECadre Holdings Inc. COM | 0.03% | 0.67% | 0.03% |
 NPKNational Presto Industries Inc. COM | 0.02% | 0.51% | 0.02% |
 FLYFirefly Aerospace Inc. COM | 0.02% | 0.79% | 0.02% |
 PKEPark Aerospace Corporation COM | 0.02% | 0.39% | 0.02% |
 BETABeta Technologies Inc. COM SHS CL A | 0.02% | 0.59% | 0.02% |
 SATLSatellogic, Inc., Class A | 0.02% | 0.43% | 0.02% |
 YSSYork Space Systems, Inc. | 0.01% | 0.18% | 0.01% |
Frequently Asked Questions
How much do IWM and XAR overlap?
IWM and XAR overlap by 2.0% of portfolio weight. They share 21 holdings (IWM holds 1941 positions and XAR holds 47), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWM and XAR?
The two portfolios are 2.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of IWM and XAR?
The largest positions held by both funds are KTOS, MOG-A, AVAV, VSEC and AIR. Together the top 10 shared positions account for 85% of the total overlap.
What does IWM own that XAR doesn't?
1920 positions (97.6% of IWM) are unique to IWM, led by BE, CDE and FN. In the other direction, 26 positions (68.4% of XAR) are unique to XAR.