MXI vs VAW: Holdings Overlap
MXIiShares Global Materials ETF
iShares · 101 holdings · $349M · as of 2026-03-31
VAWVanguard Materials Index Fund
Vanguard · 110 holdings · $3.0B · as of 2026-05-31
Holdings snapshots are 61 days apart (MXI: 2026-03-31, VAW: 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 MXI and VAW?
iShares Global Materials ETF (MXI, by iShares) holds 101 positions; Vanguard Materials Index Fund (VAW, by Vanguard) holds 110. They have 26 holdings in common, and by portfolio weight the two funds are 39.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 39.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 26MXI holds 101 · VAW holds 110
- Weight in Shared Holdings
- MXI 40%·VAW 76%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 MXI
75 of 101 positions (60.2% of the fund) are not held by VAW. Showing the top 30 by weight.
Sector Breakdown
| Sector | MXI | VAW |
|---|---|---|
| Materials | 99.5% | 99.5% |
| Energy | 0.0% | 0.3% |
| Real Estate | 0.1% | 0.0% |
| Communication Services | 0.0% | 0.0% |
| Other Sectors | 0.0% | 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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| MXI | +6.2% | +18.1% | +32.9% | +13.0% | +7.2% | +10.9% | 1.62% |
| VAW | +3.2% | +14.7% | +20.8% | +10.3% | +7.0% | +10.1% | 1.34% |
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 MXI vs VAW →
Shared Holdings(26)
The top 10 shared positions account for 72% of the overlap, led by LIN, NEM and FCX.
 LINLinde PLC COM EUR0.001 | 7.82% | 14.92% | 7.82% |
|---|---|---|---|
 NEMNewmont Corporation COM | 3.99% | 7.69% | 3.99% |
 FCXFreeport-McMoRan Inc. CL B | 2.85% | 6.06% | 2.85% |
 SHWThe Sherwin-Williams Company COM | 2.50% | 4.59% | 2.50% |
 CRHCRH plc | 2.38% | 4.68% | 2.38% |
 ECLEcolab Inc. COM | 2.29% | 4.19% | 2.29% |
 APDAir Products & Chemicals, Inc. COM | 2.19% | 3.81% | 2.19% |
 CTVACorteva Inc COM | 1.90% | 3.40% | 1.90% |
 NUENucor Corporation COM | 1.31% | 3.67% | 1.31% |
 VMCVulcan Materials Company COM | 1.22% | 2.40% | 1.22% |
 MLMMartin Marietta Materials Inc COM | 1.20% | 2.25% | 1.20% |
 DOWDow Inc COM | 1.01% | 1.54% | 1.01% |
 STLDSteel Dynamics, Inc. COM | 0.84% | 2.32% | 0.84% |
 PPGPPG Industries, Inc. COM | 0.81% | 1.63% | 0.81% |
 ALBAlbemarle Corp COM | 0.71% | 1.33% | 0.71% |
 SWSmurfit WestRock plc COM USD0.001 | 0.70% | 1.38% | 0.70% |
 LYBLyondellBasell Industries NV COM EUR0.04 CLASS 'A' | 0.70% | 1.10% | 0.70% |
 CFCF Industries Holdings, Inc. COM | 0.68% | 1.12% | 0.68% |
 PKGPackaging Corporation of America COM | 0.64% | 1.26% | 0.64% |
 IPInternational Paper Co. COM | 0.64% | 1.08% | 0.64% |
 DDDupont De Nemours Inc COM | 0.63% | 1.30% | 0.63% |
 IFFINTERNATIONAL FLAVORS and FRAGRA COMMON STOCK USD.125 | 0.63% | 1.25% | 0.63% |
 AMCRAmcor PLC COM NEW | 0.62% | 1.15% | 0.62% |
 BALLBall Corporation COM | 0.54% | 0.89% | 0.54% |
 AVYAvery Dennison Corporation COM | 0.45% | 0.79% | 0.45% |
Frequently Asked Questions
How much do MXI and VAW overlap?
MXI and VAW overlap by 39.5% of portfolio weight. They share 26 holdings (MXI holds 101 positions and VAW holds 110), based on each fund's latest SEC-reported holdings.
Is it redundant to own both MXI and VAW?
The two portfolios are 39.5% 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 MXI and VAW?
The largest positions held by both funds are LIN, NEM, FCX, SHW and CRH. Together the top 10 shared positions account for 72% of the total overlap.
What does MXI own that VAW doesn't?
75 positions (60.2% of MXI) are unique to MXI, led by BHP, AI and AEM. In the other direction, 84 positions (23.5% of VAW) are unique to VAW.