IWX vs SPY: Holdings Overlap
IWXiShares Russell Top 200 Value ETF
iShares · 154 holdings · $4.0B · as of 2026-03-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (IWX: 2026-03-31, SPY: 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 IWX and SPY?
iShares Russell Top 200 Value ETF (IWX, by iShares) holds 154 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 147 holdings in common, and by portfolio weight the two funds are 42.7% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 42.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 147IWX holds 154 · SPY holds 504
- Weight in Shared Holdings
- IWX 95%·SPY 47%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 IWX
7 of 154 positions (4.6% of the fund) are not held by SPY.
Sector Breakdown
| Sector | IWX | SPY |
|---|---|---|
| Information Technology | 11.4% | 37.6% |
| Financials | 22.3% | 12.3% |
| Health Care | 13.6% | 8.9% |
| Industrials | 11.6% | 8.8% |
| Communication Services | 10.2% | 9.7% |
| Other Sectors | 30.8% | 22.6% |
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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IWX | +4.2% | +23.5% | +36.3% | +20.0% | +12.9% | +12.2% | 1.36% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
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 IWX vs SPY →
Shared Holdings(147)
The top 10 shared positions account for 37% of the overlap, led by GOOGL, AMZN and GOOG.
 GOOGLAlphabet Inc. CAP STK CL A | 2.88% | 3.16% | 2.88% |
|---|---|---|---|
 AMZNAmazon.com, Inc. COM | 2.67% | 4.02% | 2.67% |
 GOOGAlphabet Inc. CAP STK CL C | 2.34% | 2.54% | 2.34% |
 MUMicron Technology Inc. COM | 1.84% | 1.50% | 1.50% |
 BRK-BBerkshire Hathaway, Inc., Class B | 4.30% | 1.45% | 1.45% |
 JPMJPMorgan Chase & Co. COM | 3.89% | 1.44% | 1.44% |
 METAMeta Platforms, Inc., Class A | 1.08% | 1.95% | 1.08% |
 JNJJohnson & Johnson COM | 2.86% | 0.93% | 0.93% |
 WMTWalmart Inc COM | 2.37% | 0.74% | 0.74% |
 CSCOCisco Systems, Inc. COM | 1.50% | 0.72% | 0.72% |
 INTCIntel Corporation COM | 0.95% | 0.71% | 0.71% |
 AMDAdvanced Micro Devices Inc. COM | 0.66% | 1.20% | 0.66% |
 AMATApplied Materials Inc. COM | 0.94% | 0.63% | 0.63% |
 BACBank of America Corp. COM | 1.43% | 0.62% | 0.62% |
 CATCaterpillar Inc COM | 1.40% | 0.59% | 0.59% |
 UNHUnitedHealth Group Inc. COM | 1.20% | 0.55% | 0.55% |
 CVXChevron Corp. COM | 1.88% | 0.53% | 0.53% |
 PGThe Procter & Gamble Co. COM | 1.65% | 0.52% | 0.52% |
 KOCoca-Cola Co (The) COM | 0.74% | 0.51% | 0.51% |
 MRKMerck & Co., Inc COM | 1.45% | 0.48% | 0.48% |
 GSGoldman Sachs Group, Inc. (The) | 1.14% | 0.46% | 0.46% |
 RTXRTX Corp. COM | 1.25% | 0.45% | 0.45% |
 PMPhilip Morris International Inc. COM | 1.25% | 0.44% | 0.44% |
 WFCWells Fargo & Co. COM | 1.20% | 0.40% | 0.40% |
 MSMorgan Stanley COM NEW | 0.91% | 0.39% | 0.39% |
Frequently Asked Questions
How much do IWX and SPY overlap?
IWX and SPY overlap by 42.7% of portfolio weight. They share 147 holdings (IWX holds 154 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IWX and SPY?
The two portfolios are 42.7% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of IWX and SPY?
The largest positions held by both funds are GOOGL, AMZN, GOOG, MU and BRK-B. Together the top 10 shared positions account for 37% of the total overlap.
What does IWX own that SPY doesn't?
7 positions (4.6% of IWX) are unique to IWX, led by XOM, HON and MSTR. In the other direction, 357 positions (52.9% of SPY) are unique to SPY.