IWO vs XAR: Holdings Overlap
IWOiShares Russell 2000 Growth ETF
iShares · 1101 holdings · $14.8B · as of 2026-03-31
XARState Street® SPDR® S&P® Aerospace & Defense ETF
State Street (SPDR) · 47 holdings · $6.4B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWO: 2026-03-31, XAR: 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 XAR?
iShares Russell 2000 Growth ETF (IWO, by iShares) holds 1101 positions; State Street® SPDR® S&P® Aerospace & Defense ETF (XAR, by State Street (SPDR)) holds 47. They have 19 holdings in common, and by portfolio weight the two funds are 3.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 19IWO holds 1101 · XAR holds 47
- Weight in Shared Holdings
- IWO 3%·XAR 30%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
1082 of 1101 positions (96.8% of the fund) are not held by XAR. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWO | XAR |
|---|---|---|
| Industrials | 23.7% | 98.4% |
| Health Care | 23.1% | 0.0% |
| Information Technology | 19.0% | 0.0% |
| Financials | 8.6% | 0.0% |
| Consumer Discretionary | 7.3% | 0.0% |
| Other Sectors | 14.1% | 0.0% |
| Unclassified | 4.0% | 1.6% |
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 (4% of IWO, 2% of XAR).
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% |
| XAR | +2.7% | +19.0% | +33.7% | +33.2% | +18.5% | +18.1% | 0.28% |
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 XAR →
Shared Holdings(19)
The top 10 shared positions account for 92% of the overlap, led by KTOS, MOG-A and AVAV.
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 0.86% | 2.71% | 0.86% |
|---|---|---|---|
 MOG-AMoog, Inc., Class A | 0.55% | 2.78% | 0.55% |
 AVAVAeroVironment, Inc. COM | 0.46% | 2.56% | 0.46% |
 VSECVSE Corp. COM | 0.29% | 3.37% | 0.29% |
 ACHRArcher Aviation, Inc., Class A | 0.21% | 2.68% | 0.21% |
 ATROAstronics Corp. COM | 0.13% | 1.95% | 0.13% |
 RCATRed Cat Holdings Inc. COM | 0.09% | 1.09% | 0.09% |
 AIRAAR Corp. COM | 0.07% | 2.72% | 0.07% |
 MRCYMercury Systems Inc COM | 0.06% | 2.01% | 0.06% |
 RDWRedwire Corporation COM | 0.06% | 1.55% | 0.06% |
 CDRECadre Holdings Inc. COM | 0.06% | 0.67% | 0.06% |
 VOYGVoyager Technologies, Inc., Class A | 0.05% | 0.42% | 0.05% |
 FLYFirefly Aerospace Inc. COM | 0.03% | 0.79% | 0.03% |
 SATLSatellogic, Inc., Class A | 0.02% | 0.43% | 0.02% |
 BETABeta Technologies Inc. COM SHS CL A | 0.02% | 0.59% | 0.02% |
 PKEPark Aerospace Corporation COM | 0.02% | 0.39% | 0.02% |
 YSSYork Space Systems, Inc. | 0.02% | 0.18% | 0.02% |
 VVXV2X Inc COM | 0.01% | 1.19% | 0.01% |
 LUNRIntuitive Machines Inc CLASS A COM | 0.01% | 1.46% | 0.01% |
Frequently Asked Questions
How much do IWO and XAR overlap?
IWO and XAR overlap by 3.0% of portfolio weight. They share 19 holdings (IWO holds 1101 positions and XAR holds 47), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWO and XAR?
The two portfolios are 3.0% 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 XAR?
The largest positions held by both funds are KTOS, MOG-A, AVAV, VSEC and ACHR. Together the top 10 shared positions account for 92% of the total overlap.
What does IWO own that XAR doesn't?
1082 positions (96.8% of IWO) are unique to IWO, led by BE, FN and CRDO. In the other direction, 28 positions (70.4% of XAR) are unique to XAR.