IWN vs KBE: Holdings Overlap
IWNiShares Russell 2000 Value ETF
iShares · 1406 holdings · $14.7B · as of 2026-03-31
KBEState Street® SPDR® S&P® Bank ETF
State Street (SPDR) · 102 holdings · $1.7B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWN: 2026-03-31, KBE: 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 IWN and KBE?
iShares Russell 2000 Value ETF (IWN, by iShares) holds 1406 positions; State Street® SPDR® S&P® Bank ETF (KBE, by State Street (SPDR)) holds 102. They have 60 holdings in common, and by portfolio weight the two funds are 12.9% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 12.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 60IWN holds 1406 · KBE holds 102
- Weight in Shared Holdings
- IWN 13%·KBE 57%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 IWN
1346 of 1406 positions (86.7% of the fund) are not held by KBE. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWN | KBE |
|---|---|---|
| Financials | 22.4% | 98.9% |
| Industrials | 11.9% | 0.0% |
| Health Care | 10.0% | 0.0% |
| Consumer Discretionary | 8.7% | 0.0% |
| Energy | 8.5% | 0.0% |
| Other Sectors | 31.1% | 0.0% |
| Unclassified | 7.1% | 0.0% |
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 (7% of IWN, 0% of KBE).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWN | +2.4% | +25.3% | +42.6% | +16.8% | +9.0% | +10.2% | 1.41% |
| KBE | +1.8% | +16.6% | +29.1% | +21.5% | +9.2% | +10.6% | 2.10% |
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 IWN vs KBE →
Shared Holdings(60)
The top 10 shared positions account for 31% of the overlap, led by UMBF, JXN and ONB.
 UMBFUMB Financial Corporation | 0.52% | 1.00% | 0.52% |
|---|---|---|---|
 JXNJackson Financial, Inc., Class A | 0.50% | 1.14% | 0.50% |
 ONBOld National Bancorp COM | 0.47% | 0.99% | 0.47% |
 UBSIUnited Bankshares Inc COM | 0.40% | 0.98% | 0.40% |
 ESNTEssent Group Ltd. COM USD0.015 | 0.37% | 1.01% | 0.37% |
 HWCHancock Whitney Corporation COM | 0.37% | 0.99% | 0.37% |
 ABCBAmeris Bancorp COM | 0.35% | 0.93% | 0.35% |
 AUBAtlantic Union Bankshares Corp COM | 0.35% | 0.99% | 0.35% |
 HOMBHome BancShares Inc. COM | 0.35% | 1.02% | 0.35% |
 GBCIGlacier Bancorp Inc. COM | 0.32% | 0.92% | 0.32% |
 VLYValley National Bancorp. COM | 0.31% | 0.93% | 0.31% |
 RDNRadian Group Inc. COM | 0.31% | 0.95% | 0.31% |
 ASBAssociated Banc-Corp COM | 0.30% | 0.99% | 0.30% |
 EBCEastern Bankshares Inc COM | 0.29% | 1.02% | 0.29% |
 AXAxos Financial Inc COM | 0.28% | 1.05% | 0.28% |
 FLGFlagstar Bank National Association COM NEW | 0.28% | 0.89% | 0.28% |
 UCBUnited Community Banks Inc.(South Carolina) COM | 0.26% | 0.96% | 0.26% |
 INDBIndependent Bank Corp. COM | 0.26% | 0.94% | 0.26% |
 FULTFulton Financial Corporation COM | 0.26% | 0.98% | 0.26% |
 TCBITexas Capital Bancshares, Inc. COM | 0.25% | 0.90% | 0.25% |
 WSFSWSFS Financial Corporation COM | 0.24% | 1.00% | 0.24% |
 RNSTRenasant Corp. COM | 0.24% | 0.94% | 0.24% |
 BKUBankUnited Inc. COM | 0.23% | 0.88% | 0.23% |
 IBOCInternational Bancshares Corporation | 0.23% | 0.91% | 0.23% |
 CATYCathay General Bancorp COM | 0.23% | 0.97% | 0.23% |
Frequently Asked Questions
How much do IWN and KBE overlap?
IWN and KBE overlap by 12.9% of portfolio weight. They share 60 holdings (IWN holds 1406 positions and KBE holds 102), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWN and KBE?
The two portfolios are 12.9% 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 IWN and KBE?
The largest positions held by both funds are UMBF, JXN, ONB, UBSI and ESNT. Together the top 10 shared positions account for 31% of the total overlap.
What does IWN own that KBE doesn't?
1346 positions (86.7% of IWN) are unique to IWN, led by ECHO, TTMI and CDE. In the other direction, 42 positions (41.6% of KBE) are unique to KBE.