IWN vs SPSM: Holdings Overlap
IWNiShares Russell 2000 Value ETF
iShares · 1406 holdings · $14.7B · as of 2026-03-31
SPSMState Street® SPDR® Portfolio S&P 600™ Small Cap ETF
State Street (SPDR) · 604 holdings · $17.3B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWN: 2026-03-31, SPSM: 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 SPSM?
iShares Russell 2000 Value ETF (IWN, by iShares) holds 1406 positions; State Street® SPDR® Portfolio S&P 600™ Small Cap ETF (SPSM, by State Street (SPDR)) holds 604. They have 382 holdings in common, and by portfolio weight the two funds are 41.2% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 41.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 382IWN holds 1406 · SPSM holds 604
- Weight in Shared Holdings
- IWN 46%·SPSM 54%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
1024 of 1406 positions (54.0% of the fund) are not held by SPSM. Showing the top 30 by weight.
Only in SPSM
222 of 604 positions (45.4% of the fund) are not held by IWN. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWN | SPSM |
|---|---|---|
| Financials | 22.4% | 19.0% |
| Industrials | 11.9% | 17.4% |
| Consumer Discretionary | 8.7% | 13.9% |
| Information Technology | 8.0% | 12.8% |
| Health Care | 10.0% | 10.6% |
| Other Sectors | 31.6% | 25.1% |
| Unclassified | 7.1% | 0.9% |
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, 1% of SPSM).
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% |
| SPSM | +2.4% | +24.5% | +36.5% | +14.6% | +7.7% | +10.9% | 1.36% |
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 SPSM →
Shared Holdings(382)
The top 10 shared positions account for 9% of the overlap, led by JXN, TRNO and VSAT.
 JXNJackson Financial, Inc., Class A | 0.50% | 0.51% | 0.50% |
|---|---|---|---|
 TRNOTerreno Realty Corporation COM | 0.43% | 0.40% | 0.40% |
 VSATViaSat, Inc. COM | 0.39% | 0.61% | 0.39% |
 EPRTEssential Properties Realty Trust Inc. COM | 0.42% | 0.36% | 0.36% |
 SMSM Energy Co. COM | 0.54% | 0.36% | 0.36% |
 MATXMatson Inc COM | 0.35% | 0.34% | 0.34% |
 MACThe Macerich Company COM | 0.34% | 0.36% | 0.34% |
 AUBAtlantic Union Bankshares Corp COM | 0.35% | 0.33% | 0.33% |
 NPOEnpro Inc COM | 0.32% | 0.39% | 0.32% |
 MGYMagnolia Oil & Gas Corporation CL A | 0.31% | 0.31% | 0.31% |
 ABCBAmeris Bancorp COM | 0.35% | 0.30% | 0.30% |
 NENoble Corporation PLC ORD SHS A | 0.43% | 0.28% | 0.28% |
 AXAxos Financial Inc COM | 0.28% | 0.32% | 0.28% |
 PECOPhillips Edison & Co Inc COMMON STOCK | 0.27% | 0.28% | 0.27% |
 HASIHannon Armstrong Sustainable Infrastructure Capital, Inc. | 0.32% | 0.27% | 0.27% |
 EBCEastern Bankshares Inc COM | 0.29% | 0.27% | 0.27% |
 MTHMeritage Homes Corp COM | 0.29% | 0.27% | 0.27% |
 RDNRadian Group Inc. COM | 0.31% | 0.26% | 0.26% |
 HCCWarrior Met Coal Inc COM | 0.33% | 0.26% | 0.26% |
 ACAArcosa Inc COM | 0.26% | 0.39% | 0.26% |
 FULTFulton Financial Corporation COM | 0.26% | 0.25% | 0.25% |
 SKYWSkywest Inc COM | 0.26% | 0.25% | 0.25% |
 CNRCore Natural Resources Inc. COM SHS | 0.24% | 0.25% | 0.24% |
 JBTMJBT Marel Corp. COM | 0.24% | 0.35% | 0.24% |
 LGNDLigand Pharmaceuticals Incorporated COM NEW | 0.24% | 0.33% | 0.24% |
Showing the top 250 of 382 shared holdings by overlap weight.
Frequently Asked Questions
How much do IWN and SPSM overlap?
IWN and SPSM overlap by 41.2% of portfolio weight. They share 382 holdings (IWN holds 1406 positions and SPSM holds 604), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWN and SPSM?
The two portfolios are 41.2% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of IWN and SPSM?
The largest positions held by both funds are JXN, TRNO, VSAT, EPRT and SM. Together the top 10 shared positions account for 9% of the total overlap.
What does IWN own that SPSM doesn't?
1024 positions (54.0% of IWN) are unique to IWN, led by ECHO, TTMI and CDE. In the other direction, 222 positions (45.4% of SPSM) are unique to SPSM.