RWL vs FNDB: Holdings Overlap
RWLInvesco S&P 500 Revenue ETF
Invesco · 502 holdings · $9.8B · as of 2026-05-31
FNDBSchwab Fundamental U.S. Broad Market ETF
Schwab · 1639 holdings · $1.5B · as of 2026-05-31
How similar are RWL and FNDB?
Invesco S&P 500 Revenue ETF (RWL, by Invesco) holds 502 positions; Schwab Fundamental U.S. Broad Market ETF (FNDB, by Schwab) holds 1639. They have 494 holdings in common, and by portfolio weight the two funds are 65.3% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 65.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 494RWL holds 502 · FNDB holds 1639
- Weight in Shared Holdings
- RWL 99%·FNDB 85%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 RWL
8 of 502 positions (0.3% of the fund) are not held by FNDB.
Sector Breakdown
| Sector | RWL | FNDB |
|---|---|---|
| Information Technology | 15.4% | 21.0% |
| Health Care | 19.3% | 11.4% |
| Financials | 15.1% | 13.9% |
| Consumer Discretionary | 12.1% | 9.0% |
| Consumer Staples | 10.1% | 6.7% |
| Other Sectors | 27.8% | 37.7% |
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 |
|---|---|---|---|---|---|---|---|
| RWL | +3.1% | +17.9% | +31.3% | +19.4% | +14.1% | +14.1% | 1.20% |
| FNDB | +3.0% | +19.8% | +33.0% | +19.6% | +13.6% | +14.1% | 1.41% |
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 RWL vs FNDB →
Shared Holdings(494)
The top 10 shared positions account for 23% of the overlap, led by AAPL, AMZN and MSFT.
 AAPLApple Inc. | 2.55% | 4.29% | 2.55% |
|---|---|---|---|
 AMZNAmazon.com, Inc. | 4.47% | 1.72% | 1.72% |
 MSFTMicrosoft Corp. | 1.66% | 2.16% | 1.66% |
 XOMExxon Mobil Corp. | 1.52% | 2.12% | 1.52% |
 BRK-BBerkshire Hathaway Inc., Class B | 1.75% | 1.31% | 1.31% |
 JPMJPMorgan Chase & Co. | 1.43% | 1.28% | 1.28% |
 UNHUnitedHealth Group Inc. | 2.92% | 1.27% | 1.27% |
 GOOGLAlphabet Inc., Class A | 1.22% | 2.20% | 1.22% |
 GOOGAlphabet Inc., Class C | 1.20% | 1.75% | 1.20% |
 METAMeta Platforms, Inc., Class A | 0.95% | 1.15% | 0.95% |
 WMTWalmart Inc. | 3.27% | 0.94% | 0.94% |
 CVXChevron Corp. | 0.86% | 1.37% | 0.86% |
 CVSCVS Health Corp. | 2.37% | 0.83% | 0.83% |
 BACBank of America Corp. | 1.02% | 0.80% | 0.80% |
 CCitigroup Inc. | 0.96% | 0.79% | 0.79% |
 GMGeneral Motors Co. | 1.01% | 0.67% | 0.67% |
 VZVerizon Communications Inc. | 0.64% | 0.92% | 0.64% |
 VLOValero Energy Corp. | 0.64% | 0.65% | 0.64% |
 INTCIntel Corp. | 0.62% | 2.38% | 0.62% |
 WFCWells Fargo & Co. | 0.61% | 0.63% | 0.61% |
 MPCMarathon Petroleum Corp. | 0.71% | 0.58% | 0.58% |
 TAT&T Inc. | 0.56% | 0.75% | 0.56% |
 FFord Motor Co. | 1.32% | 0.55% | 0.55% |
 GSGoldman Sachs Group, Inc. (The) | 0.77% | 0.54% | 0.54% |
 NVDANVIDIA Corp. | 1.20% | 0.51% | 0.51% |
Showing the top 250 of 494 shared holdings by overlap weight.
Frequently Asked Questions
How much do RWL and FNDB overlap?
RWL and FNDB overlap by 65.3% of portfolio weight. They share 494 holdings (RWL holds 502 positions and FNDB holds 1639), based on each fund's latest SEC-reported holdings.
Is it redundant to own both RWL and FNDB?
The two portfolios are 65.3% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of RWL and FNDB?
The largest positions held by both funds are AAPL, AMZN, MSFT, XOM and BRK-B. Together the top 10 shared positions account for 23% of the total overlap.
What does RWL own that FNDB doesn't?
8 positions (0.3% of RWL) are unique to RWL, led by NXPI, FOX and LULU. In the other direction, 1145 positions (15.2% of FNDB) are unique to FNDB.