IWO vs PAVE: Holdings Overlap
IWOiShares Russell 2000 Growth ETF
iShares · 1101 holdings · $14.8B · 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 (IWO: 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 IWO and PAVE?
iShares Russell 2000 Growth ETF (IWO, by iShares) holds 1101 positions; Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100. They have 30 holdings in common, and by portfolio weight the two funds are 7.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 30IWO holds 1101 · PAVE holds 100
- Weight in Shared Holdings
- IWO 8%·PAVE 12%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
1071 of 1101 positions (91.9% of the fund) are not held by PAVE. Showing the top 30 by weight.
Only in PAVE
70 of 100 positions (88.2% of the fund) are not held by IWO. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWO | PAVE |
|---|---|---|
| Industrials | 23.7% | 75.1% |
| Health Care | 23.1% | 0.0% |
| Materials | 3.8% | 20.3% |
| Information Technology | 19.0% | 1.1% |
| Financials | 8.6% | 0.0% |
| Other Sectors | 17.6% | 3.1% |
| Unclassified | 4.0% | 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 (4% of IWO, 0% of PAVE).
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% |
| 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 IWO vs PAVE →
Shared Holdings(30)
The top 10 shared positions account for 62% of the overlap, led by STRL, DY and SPXC.
 STRLSterling Infrastructure Inc COM | 0.81% | 1.43% | 0.81% |
|---|---|---|---|
 DYDycom Industries, Inc. COM | 0.66% | 0.80% | 0.66% |
 SPXCSPX Technologies, Inc. COM | 0.65% | 0.58% | 0.58% |
 AGXArgan Inc COM | 0.49% | 0.50% | 0.49% |
 ZWSZurn Elkay Water Solutions Corporation COMMON STOCK | 0.45% | 0.43% | 0.43% |
 PRIMPrimoris Services Corp. COM | 0.49% | 0.37% | 0.37% |
 POWLPowell Industries Inc. COM | 0.35% | 0.56% | 0.35% |
 GVAGranite Construction Inc COM | 0.30% | 0.32% | 0.30% |
 ROADConstruction Partners, Inc., Class A | 0.36% | 0.30% | 0.30% |
 MYRGMYR Group, Inc. | 0.29% | 0.51% | 0.29% |
 KNFKnife River Corp. COMMON STOCK | 0.31% | 0.28% | 0.28% |
 MWAMueller Water Products, Inc. COM SER A | 0.29% | 0.26% | 0.26% |
 CSWCSW Industrials Inc. COM | 0.28% | 0.25% | 0.25% |
 CENXCentury Aluminum Company COM | 0.22% | 0.38% | 0.22% |
 HRIHerc Holdings Inc COM | 0.22% | 0.24% | 0.22% |
 EXPOExponent Inc COM | 0.22% | 0.21% | 0.21% |
 BMIBadger Meter Inc COM | 0.30% | 0.20% | 0.20% |
 CALXCalix Inc. COM | 0.20% | 0.20% | 0.20% |
 TEXTerex Corporation COM | 0.19% | 0.26% | 0.19% |
 CTRICenturi Holdings Inc. COM SHS | 0.17% | 0.30% | 0.17% |
 DXPEDXP Enterprises Inc. COM NEW | 0.12% | 0.30% | 0.12% |
 ACAArcosa Inc COM | 0.10% | 0.34% | 0.10% |
 USLMUnited States Lime & Minerals Inc. COM | 0.10% | 0.24% | 0.10% |
 GRCGorman-Rupp Co. (The) | 0.09% | 0.38% | 0.09% |
 TRNTrinity Industries, Inc. COM | 0.08% | 0.32% | 0.08% |
Frequently Asked Questions
How much do IWO and PAVE overlap?
IWO and PAVE overlap by 7.5% of portfolio weight. They share 30 holdings (IWO holds 1101 positions and PAVE holds 100), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWO and PAVE?
The two portfolios are 7.5% 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 IWO and PAVE?
The largest positions held by both funds are STRL, DY, SPXC, AGX and ZWS. Together the top 10 shared positions account for 62% of the total overlap.
What does IWO own that PAVE doesn't?
1071 positions (91.9% of IWO) are unique to IWO, led by BE, FN and CRDO. In the other direction, 70 positions (88.2% of PAVE) are unique to PAVE.