IWM vs SOXX: how much do they really overlap?
IWM (iShares Russell 2000 ETF, tracking the Russell 2000) and SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) overlap by roughly 1% by weight. 1 of IWM's top 10 holdings also appear in SOXX. A 50/50 blend of the two behaves like about 78 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 1 holdings appear in both IWM and SOXX. The weight columns show how much of each fund each name represents.
| Holding | in IWM | in SOXX |
|---|---|---|
| XTSLA BLK CSH FND TREASURY SL AGENCY | 0.46% | 0.11% |
Only in IWM
iShares Russell 2000 ETF — US small-cap. Its biggest holdings that SOXX doesn’t have:
| MOGA MOOG INC CLASS A | 0.39% |
| BTSG BRIGHTSPRING HEALTH SERVICES INC | 0.38% |
| HUT HUT CORP | 0.36% |
| UMBF UMB FINANCIAL CORP | 0.35% |
| CYTK CYTOKINETICS INC | 0.34% |
| VSAT VIASAT INC | 0.32% |
| GKOS GLAUKOS CORP | 0.31% |
| KRYS KRYSTAL BIOTECH INC | 0.31% |
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that IWM doesn’t have:
| AMD ADVANCED MICRO DEVICES INC | 8.57% |
| NVDA NVIDIA CORP | 8.42% |
| MU MICRON TECHNOLOGY INC | 8.21% |
| AVGO BROADCOM INC | 7.91% |
| INTC INTEL CORPORATION | 5.24% |
| AMAT APPLIED MATERIAL INC | 5.08% |
| TSM TAIWAN SEMICONDUCTOR MANUFACTURING | 4.57% |
| KLAC KLA CORP | 4.28% |
So — essentially different. Should you hold both?
IWM and SOXX hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~78 effective positions (grade A), because they hold largely different securities.
Holdings as of — IWM: Jul 30, 2026 (iShares (BlackRock)); SOXX: Jul 30, 2026 (iShares (BlackRock)). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 50); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →IWM vs SOXX — FAQ
- How much do IWM and SOXX overlap?
- IWM and SOXX overlap by approximately 1% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 1 of IWM's 10 largest holdings are also held by SOXX. They share 1 of their listed top holdings in total.
- Is it redundant to hold both IWM and SOXX?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 78 positions and a A diversification grade.
- What does SOXX hold that IWM doesn't?
- SOXX's largest holdings that IWM doesn't hold include AMD, NVDA, MU, AVGO, INTC. Its category is semiconductors, versus IWM's US small-cap.
- Which is more concentrated, IWM or SOXX?
- IWM's top 10 holdings are 26% of its listed weight; SOXX's are 61%. The more concentrated fund leans harder on its largest names.