IWM vs VGT: how much do they really overlap?
IWM (iShares Russell 2000 ETF, tracking the Russell 2000) and VGT (Vanguard Information Technology ETF, tracking the MSCI US IMI Info Tech 25/50) overlap by roughly 0% by weight. 0 of IWM's top 10 holdings also appear in VGT. A 50/50 blend of the two behaves like about 64 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 0 holdings appear in both IWM and VGT. The weight columns show how much of each fund each name represents.
| Holding | in IWM | in VGT |
|---|
Only in IWM
iShares Russell 2000 ETF — US small-cap. Its biggest holdings that VGT doesn’t have:
| XTSLA BLK CSH FND TREASURY SL AGENCY | 0.46% |
| 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% |
Only in VGT
Vanguard Information Technology ETF — US tech sector. Its biggest holdings that IWM doesn’t have:
| NVDA NVIDIA Corp. | 16.10% |
| AAPL Apple Inc. | 14.33% |
| MSFT Microsoft Corp. | 8.28% |
| MU Micron Technology Inc. | 5.04% |
| AVGO Broadcom Inc. | 3.84% |
| AMD Advanced Micro Devices Inc. | 3.65% |
| INTC Intel Corp. | 2.41% |
| AMAT Applied Materials Inc. | 2.26% |
So — essentially different. Should you hold both?
IWM and VGT hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~64 effective positions (grade A), because they hold largely different securities.
Holdings as of — IWM: Jul 30, 2026 (iShares (BlackRock)); VGT: Jun 30, 2026 (Vanguard). 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 VGT — FAQ
- How much do IWM and VGT overlap?
- IWM and VGT overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of IWM's 10 largest holdings are also held by VGT. They share 0 of their listed top holdings in total.
- Is it redundant to hold both IWM and VGT?
- 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 64 positions and a A diversification grade.
- What does VGT hold that IWM doesn't?
- VGT's largest holdings that IWM doesn't hold include NVDA, AAPL, MSFT, MU, AVGO. Its category is US tech sector, versus IWM's US small-cap.
- Which is more concentrated, IWM or VGT?
- IWM's top 10 holdings are 26% of its listed weight; VGT's are 71%. The more concentrated fund leans harder on its largest names.