IWO vs KBE: Holdings Overlap
IWOiShares Russell 2000 Growth ETF
iShares · 1101 holdings · $14.8B · 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 (IWO: 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 IWO and KBE?
iShares Russell 2000 Growth ETF (IWO, by iShares) holds 1101 positions; State Street® SPDR® S&P® Bank ETF (KBE, by State Street (SPDR)) holds 102. They have 24 holdings in common, and by portfolio weight the two funds are 1.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24IWO holds 1101 · KBE holds 102
- Weight in Shared Holdings
- IWO 2%·KBE 23%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 IWO
1077 of 1101 positions (98.0% of the fund) are not held by KBE. Showing the top 30 by weight.
Only in KBE
78 of 102 positions (76.0% of the fund) are not held by IWO. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWO | KBE |
|---|---|---|
| Financials | 8.6% | 98.9% |
| Industrials | 23.7% | 0.0% |
| Health Care | 23.1% | 0.0% |
| Information Technology | 19.0% | 0.0% |
| Consumer Discretionary | 7.3% | 0.0% |
| Other Sectors | 14.1% | 0.0% |
| Unclassified | 4.0% | 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 (4% of IWO, 0% of KBE).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWO | +1.2% | +21.0% | +34.7% | +17.5% | +5.9% | +11.0% | 0.42% |
| 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 IWO vs KBE →
Shared Holdings(24)
The top 10 shared positions account for 78% of the overlap, led by FFIN, SFBS and BOH.
 FFINFirst Financial Bankshares Inc COM | 0.27% | 0.95% | 0.27% |
|---|---|---|---|
 SFBSServisFirst Bancshares Inc. COM | 0.25% | 1.01% | 0.25% |
 BOHBank of Hawaii Corp. COM | 0.15% | 0.92% | 0.15% |
 TBBKBancorp, Inc. (The) | 0.15% | 1.17% | 0.15% |
 BANFBancFirst Corp. COM | 0.14% | 0.90% | 0.14% |
 FBPFirst Bancorp Puerto Rico COM USD1 | 0.12% | 1.07% | 0.12% |
 SYBTStock Yards Bancorp Inc. COM | 0.11% | 0.90% | 0.11% |
 VLYValley National Bancorp. COM | 0.10% | 0.93% | 0.10% |
 GBCIGlacier Bancorp Inc. COM | 0.08% | 0.92% | 0.08% |
 ONBOld National Bancorp COM | 0.06% | 0.99% | 0.06% |
 LKFNLakeland Financial Corp. COM | 0.05% | 0.64% | 0.05% |
 UMBFUMB Financial Corporation | 0.05% | 1.00% | 0.05% |
 CBUCommunity Financial System Inc COM | 0.05% | 0.91% | 0.05% |
 TFINTriumph Financial Inc COM | 0.04% | 0.94% | 0.04% |
 AXAxos Financial Inc COM | 0.04% | 1.05% | 0.04% |
 NICNicolet Bankshares Inc. COM | 0.04% | 1.09% | 0.04% |
 TCBITexas Capital Bancshares, Inc. COM | 0.04% | 0.90% | 0.04% |
 IBOCInternational Bancshares Corporation | 0.03% | 0.91% | 0.03% |
 PFSProvident Financial Services Inc. COM | 0.03% | 0.97% | 0.03% |
 WSBCWesbanco Inc COM | 0.01% | 1.06% | 0.01% |
 CUBICustomers Bancorp, Inc. COM | 0.01% | 0.98% | 0.01% |
 BANCBanc Of California Inc. COM | 0.01% | 0.88% | 0.01% |
 NBTBNBT Bancorp Inc COM | 0.01% | 0.84% | 0.01% |
 FRMEFirst Merchants Corporation COM | 0.01% | 0.95% | 0.01% |
Frequently Asked Questions
How much do IWO and KBE overlap?
IWO and KBE overlap by 1.8% of portfolio weight. They share 24 holdings (IWO holds 1101 positions and KBE holds 102), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWO and KBE?
The two portfolios are 1.8% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of IWO and KBE?
The largest positions held by both funds are FFIN, SFBS, BOH, TBBK and BANF. Together the top 10 shared positions account for 78% of the total overlap.
What does IWO own that KBE doesn't?
1077 positions (98.0% of IWO) are unique to IWO, led by BE, FN and CRDO. In the other direction, 78 positions (76.0% of KBE) are unique to KBE.