IWN vs PAVE: Holdings Overlap
IWNiShares Russell 2000 Value ETF
iShares · 1406 holdings · $14.7B · as of 2026-03-31
PAVEGlobal X U.S. Infrastructure Development ETF
Global X · 100 holdings · $14.1B · as of 2026-05-31
Holdings snapshots are 61 days apart (IWN: 2026-03-31, PAVE: 2026-05-31). 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 IWN and PAVE?
iShares Russell 2000 Value ETF (IWN, by iShares) holds 1406 positions; Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100. They have 24 holdings in common, and by portfolio weight the two funds are 2.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24IWN holds 1406 · PAVE holds 100
- Weight in Shared Holdings
- IWN 3%·PAVE 8%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
1382 of 1406 positions (97.0% of the fund) are not held by PAVE. Showing the top 30 by weight.
Only in PAVE
76 of 100 positions (92.3% of the fund) are not held by IWN. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWN | PAVE |
|---|---|---|
| Industrials | 11.9% | 75.1% |
| Financials | 22.4% | 0.0% |
| Materials | 5.1% | 20.3% |
| Health Care | 10.0% | 0.0% |
| Consumer Discretionary | 8.7% | 0.0% |
| Other Sectors | 34.5% | 4.3% |
| Unclassified | 7.1% | 0.3% |
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 PAVE).
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% |
| PAVE | +4.0% | +23.0% | +29.9% | +22.7% | +18.1% | — | 0.73% |
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 PAVE →
Shared Holdings(24)
The top 10 shared positions account for 76% of the overlap, led by CMC, TEX and ACA.
 CMCCommercial Metals Company COM | 0.47% | 0.46% | 0.46% |
|---|---|---|---|
 TEXTerex Corporation COM | 0.26% | 0.26% | 0.26% |
 ACAArcosa Inc COM | 0.26% | 0.34% | 0.26% |
 TPCTutor Perini Corporation COM | 0.24% | 0.26% | 0.24% |
 MTRNMaterion Corp COM | 0.17% | 0.41% | 0.17% |
 MTXMinerals Technologies Inc. COM | 0.15% | 0.31% | 0.15% |
 DNOWDNOW Inc. COM | 0.15% | 0.24% | 0.15% |
 ATKRAtkore Inc COMMON STOCK | 0.14% | 0.31% | 0.14% |
 GBXThe Greenbrier Companies, Inc. COM | 0.11% | 0.25% | 0.11% |
 TRNTrinity Industries, Inc. COM | 0.09% | 0.32% | 0.09% |
 ASTEAstec Industries Inc. COM | 0.08% | 0.28% | 0.08% |
 ROCKGibraltar Industries, Inc. COM | 0.08% | 0.21% | 0.08% |
 RYZRyerson Holding Corporation COM | 0.07% | 0.26% | 0.07% |
 LGNLegence Corp., Class A | 0.06% | 0.47% | 0.06% |
 NWPXNWPX Infrastructure Inc. COM | 0.05% | 0.47% | 0.05% |
 GVAGranite Construction Inc COM | 0.05% | 0.32% | 0.05% |
 PLPCPreformed Line Products Co. COM | 0.04% | 0.41% | 0.04% |
 MTUSMetallus Inc. COM | 0.04% | 0.27% | 0.04% |
 PRIMPrimoris Services Corp. COM | 0.03% | 0.37% | 0.03% |
| Columbus McKinnon Corp. COM | 0.03% | 0.21% | 0.03% |
 CTOSCustom Truck One Source Inc COM CL A | 0.03% | 0.40% | 0.03% |
 TITNTitan Machinery Inc. COM | 0.02% | 0.36% | 0.02% |
 WNCWabash National Corporation COM | 0.02% | 0.21% | 0.02% |
 IIINInsteel Industries Inc. COM | 0.02% | 0.22% | 0.02% |
Frequently Asked Questions
How much do IWN and PAVE overlap?
IWN and PAVE overlap by 2.7% of portfolio weight. They share 24 holdings (IWN holds 1406 positions and PAVE holds 100), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWN and PAVE?
The two portfolios are 2.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of IWN and PAVE?
The largest positions held by both funds are CMC, TEX, ACA, TPC and MTRN. Together the top 10 shared positions account for 76% of the total overlap.
What does IWN own that PAVE doesn't?
1382 positions (97.0% of IWN) are unique to IWN, led by ECHO, TTMI and CDE. In the other direction, 76 positions (92.3% of PAVE) are unique to PAVE.