IWN vs XBI: Holdings Overlap
IWNiShares Russell 2000 Value ETF
iShares · 1406 holdings · $14.7B · as of 2026-03-31
XBIState Street® SPDR® S&P® Biotech ETF
State Street (SPDR) · 149 holdings · $10.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWN: 2026-03-31, XBI: 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 XBI?
iShares Russell 2000 Value ETF (IWN, by iShares) holds 1406 positions; State Street® SPDR® S&P® Biotech ETF (XBI, by State Street (SPDR)) holds 149. They have 70 holdings in common, and by portfolio weight the two funds are 5.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 5.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 70IWN holds 1406 · XBI holds 149
- Weight in Shared Holdings
- IWN 5%·XBI 41%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
1336 of 1406 positions (94.2% of the fund) are not held by XBI. Showing the top 30 by weight.
Only in XBI
79 of 149 positions (58.6% of the fund) are not held by IWN. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWN | XBI |
|---|---|---|
| Health Care | 10.0% | 95.5% |
| Financials | 22.4% | 0.0% |
| Industrials | 11.9% | 0.0% |
| Consumer Discretionary | 8.7% | 0.0% |
| Energy | 8.5% | 0.0% |
| Other Sectors | 31.1% | 0.0% |
| Unclassified | 7.1% | 4.6% |
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 (7% of IWN, 5% of XBI).
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% |
| XBI | -4.0% | +29.2% | +85.3% | +26.3% | +4.5% | +9.5% | 0.36% |
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 XBI →
Shared Holdings(70)
The top 10 shared positions account for 53% of the overlap, led by PRAX, PCVX and CYTK.
 PRAXPraxis Precision Medicines Inc COM NEW | 0.53% | 1.49% | 0.53% |
|---|---|---|---|
 PCVXVaxcyte Inc COM | 0.50% | 1.25% | 0.50% |
 CYTKCytokinetics Incorporated | 0.48% | 1.17% | 0.48% |
 1CGCRISPR Therapeutics AG COM CHF0.03 | 0.30% | 1.01% | 0.30% |
 ERASErasca Inc COM | 0.21% | 1.32% | 0.21% |
 IDYAIDEAYA Biosciences Inc. COM | 0.19% | 0.81% | 0.19% |
 DNTHDianthus Therapeutics Inc COM | 0.19% | 1.39% | 0.19% |
 DNLIDenali Therapeutics Inc COM | 0.18% | 0.83% | 0.18% |
 TNGXTango Therapeutics Inc. COM | 0.16% | 0.81% | 0.16% |
 CLDXCelldex Therapeutics Inc. COM NEW | 0.14% | 0.82% | 0.14% |
 AGIOAgios Pharmaceuticals Inc COM | 0.13% | 0.62% | 0.13% |
 ORKAOruka Therapeutics Inc COM | 0.13% | 1.49% | 0.13% |
 GRALGRAIL Inc COM | 0.13% | 0.88% | 0.13% |
 DYNDyne Therapeutics Inc. COM | 0.11% | 1.04% | 0.11% |
 NRIXNurix Therapeutics Inc. COM | 0.11% | 0.60% | 0.11% |
 ALKSAlkermes PLC COM USD0.01 | 0.10% | 1.07% | 0.10% |
 KODKodiak Sciences Inc COM | 0.10% | 0.66% | 0.10% |
 NTLAIntellia Therapeutics Inc COM | 0.10% | 0.63% | 0.10% |
 RLAYRelay Therapeutics Inc COM | 0.10% | 1.21% | 0.10% |
 IOVAIovance Biotherapeutics Inc COM | 0.08% | 0.88% | 0.08% |
 SYRESpyre Therapeutics Inc COM NEW | 0.08% | 1.33% | 0.08% |
 OLMAOlema Pharmaceuticals Inc. COM | 0.07% | 0.31% | 0.07% |
 PTCTPTC Therapeutics, Inc. COM | 0.07% | 0.93% | 0.07% |
 GLUEMonte Rosa Therapeutics Inc COM | 0.07% | 0.32% | 0.07% |
 TYRATyra Biosciences Inc COM | 0.07% | 0.37% | 0.07% |
Frequently Asked Questions
How much do IWN and XBI overlap?
IWN and XBI overlap by 5.4% of portfolio weight. They share 70 holdings (IWN holds 1406 positions and XBI holds 149), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWN and XBI?
The two portfolios are 5.4% 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 XBI?
The largest positions held by both funds are PRAX, PCVX, CYTK, 1CG and ERAS. Together the top 10 shared positions account for 53% of the total overlap.
What does IWN own that XBI doesn't?
1336 positions (94.2% of IWN) are unique to IWN, led by ECHO, TTMI and CDE. In the other direction, 79 positions (58.6% of XBI) are unique to XBI.