IWP vs PAVE: Holdings Overlap
IWPiShares Russell Mid-Cap Growth ETF
iShares · 277 holdings · $20.5B · 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 (IWP: 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 IWP and PAVE?
iShares Russell Mid-Cap Growth ETF (IWP, by iShares) holds 277 positions; Global X U.S. Infrastructure Development ETF (PAVE, by Global X) holds 100. They have 13 holdings in common, and by portfolio weight the two funds are 8.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 13IWP holds 277 · PAVE holds 100
- Weight in Shared Holdings
- IWP 8%·PAVE 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 IWP
264 of 277 positions (91.6% of the fund) are not held by PAVE. Showing the top 30 by weight.
Only in PAVE
87 of 100 positions (76.7% of the fund) are not held by IWP. Showing the top 30 by weight.
Sector Breakdown
| Sector | IWP | PAVE |
|---|---|---|
| Industrials | 24.4% | 75.1% |
| Consumer Discretionary | 21.2% | 0.0% |
| Materials | 0.3% | 20.3% |
| Information Technology | 15.6% | 1.1% |
| Health Care | 14.9% | 0.0% |
| Other Sectors | 23.5% | 3.1% |
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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWP | +1.5% | +5.4% | +3.1% | +14.6% | +5.1% | +12.1% | 0.34% |
| 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 IWP vs PAVE →
Shared Holdings(13)
The top 10 shared positions account for 99% of the overlap, led by HWM, PWR and FAST.
 HWMHowmet Aerospace Inc COM | 3.32% | 3.27% | 3.27% |
|---|---|---|---|
 PWRQuanta Services, Inc. COM | 2.25% | 4.18% | 2.25% |
 FASTFastenal Co. COM | 1.57% | 2.71% | 1.57% |
 EMEEmcor Group Inc COM | 0.41% | 2.01% | 0.41% |
 MTZMastec, Inc. COM | 0.15% | 1.62% | 0.15% |
 RBCRBC Bearings Incorporated | 0.12% | 0.98% | 0.12% |
 CRSCarpenter Technology Corporation COM | 0.12% | 1.27% | 0.12% |
 ROKRockwell Automation, Inc. COM | 0.12% | 2.92% | 0.12% |
 STLDSteel Dynamics, Inc. COM | 0.09% | 2.06% | 0.09% |
 CSLCarlisle Companies Incorporated | 0.06% | 0.78% | 0.06% |
 TTEKTetra Tech Inc COM | 0.05% | 0.39% | 0.05% |
 28TTopbuild Corporation COM | 0.03% | 0.64% | 0.03% |
 EXPEagle Materials Inc. COM | 0.01% | 0.38% | 0.01% |
Frequently Asked Questions
How much do IWP and PAVE overlap?
IWP and PAVE overlap by 8.3% of portfolio weight. They share 13 holdings (IWP holds 277 positions and PAVE holds 100), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWP and PAVE?
The two portfolios are 8.3% 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 IWP and PAVE?
The largest positions held by both funds are HWM, PWR, FAST, EME and MTZ. Together the top 10 shared positions account for 99% of the total overlap.
What does IWP own that PAVE doesn't?
264 positions (91.6% of IWP) are unique to IWP, led by VRT, RCL and HLT. In the other direction, 87 positions (76.7% of PAVE) are unique to PAVE.