IWM vs XME: Holdings Overlap
iShares · 1941 holdings · $82.2B · as of 2026-03-31
XMEState Street® SPDR® S&P® Metals & Mining ETF
State Street (SPDR) · 39 holdings · $4.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWM: 2026-03-31, XME: 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 XME?
iShares Russell 2000 ETF (IWM, by iShares) holds 1941 positions; State Street® SPDR® S&P® Metals & Mining ETF (XME, by State Street (SPDR)) holds 39. They have 26 holdings in common, and by portfolio weight the two funds are 2.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 26IWM holds 1941 · XME holds 39
- Weight in Shared Holdings
- IWM 3%·XME 58%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
1915 of 1941 positions (96.8% of the fund) are not held by XME. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWM | XME |
|---|---|---|
| Materials | 4.5% | 76.0% |
| Energy | 6.0% | 20.5% |
| Industrials | 17.9% | 0.0% |
| Health Care | 16.6% | 0.0% |
| Financials | 15.3% | 0.0% |
| Other Sectors | 33.9% | 0.0% |
| Unclassified | 5.5% | 3.4% |
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, 3% of XME).
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% |
| XME | +12.9% | +11.8% | +49.0% | +31.5% | +22.7% | +16.4% | 0.32% |
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 XME →
Shared Holdings(26)
The top 10 shared positions account for 81% of the overlap, led by CDE, HL and CMC.
 CDECoeur Mining Inc COM NEW | 0.65% | 4.14% | 0.65% |
|---|---|---|---|
 HLHecla Mining Company COM | 0.40% | 4.60% | 0.40% |
 CMCCommercial Metals Company COM | 0.23% | 4.08% | 0.23% |
 UECUranium Energy Corp. COM | 0.22% | 4.65% | 0.22% |
 CNRCore Natural Resources Inc. COM SHS | 0.18% | 4.02% | 0.18% |
 HCCWarrior Met Coal Inc COM | 0.17% | 3.84% | 0.17% |
 BTUPeabody Energy Corp. COM | 0.14% | 3.32% | 0.14% |
 CENXCentury Aluminum Company COM | 0.11% | 3.17% | 0.11% |
 MTRNMaterion Corp COM | 0.10% | 3.82% | 0.10% |
 LEUCentrus Energy Corp., Class A | 0.10% | 4.72% | 0.10% |
 USARUSA Rare Earth Inc. COM | 0.09% | 3.49% | 0.09% |
 AMRAlpha Metallurgical Resources Inc COM | 0.08% | 1.87% | 0.08% |
 KALUKaiser Aluminium Corporation COM PAR $0.01 | 0.07% | 2.49% | 0.07% |
 IEIvanhoe Electric Inc / US | 0.04% | 1.87% | 0.04% |
 UAMYUnited States Antimony Corp COM | 0.04% | 1.15% | 0.04% |
 WSWorthington Steel Inc. COM SHS | 0.03% | 0.64% | 0.03% |
 RYZRyerson Holding Corporation COM | 0.03% | 0.66% | 0.03% |
 CMPCompass Minerals International Inc. COM | 0.03% | 0.90% | 0.03% |
 METCRamaco Resources, Inc., Class A | 0.02% | 0.46% | 0.02% |
 MTUSMetallus Inc. COM | 0.02% | 0.46% | 0.02% |
 SXCSunCoke Energy, Inc. COM | 0.02% | 0.87% | 0.02% |
 IDRIdaho Strategic Resources COM NEW | 0.02% | 0.66% | 0.02% |
 DCDakota Gold Corp COM | 0.02% | 0.64% | 0.02% |
 ABATAmerican Battery Technology COM NEW | 0.01% | 0.43% | 0.01% |
 LTBRLightbridge Corp. | 0.01% | 0.45% | 0.01% |
Frequently Asked Questions
How much do IWM and XME overlap?
IWM and XME overlap by 2.8% of portfolio weight. They share 26 holdings (IWM holds 1941 positions and XME holds 39), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWM and XME?
The two portfolios are 2.8% 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 XME?
The largest positions held by both funds are CDE, HL, CMC, UEC and CNR. Together the top 10 shared positions account for 81% of the total overlap.
What does IWM own that XME doesn't?
1915 positions (96.8% of IWM) are unique to IWM, led by BE, FN and NXT. In the other direction, 13 positions (41.8% of XME) are unique to XME.