IWM vs VXUS: how much do they really overlap?
IWM (iShares Russell 2000 ETF, tracking the Russell 2000) and VXUS (Vanguard Total International Stock ETF, tracking the FTSE Global All Cap ex US) overlap by roughly 0% by weight. 0 of IWM's top 10 holdings also appear in VXUS. A 50/50 blend of the two behaves like about 946 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 VXUS. The weight columns show how much of each fund each name represents.
| Holding | in IWM | in VXUS |
|---|
Only in IWM
iShares Russell 2000 ETF — US small-cap. Its biggest holdings that VXUS 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 VXUS
Vanguard Total International Stock ETF — total ex-US. Its biggest holdings that IWM doesn’t have:
| 2330 Taiwan Semiconductor Manufacturing Co. Ltd. | 4.22% |
| 005930 Samsung Electronics Co. Ltd. | 2.26% |
| 000660 SK hynix Inc. | 2.16% |
| ASML ASML Holding NV | 1.68% |
| 700 Tencent Holdings Ltd. | 0.76% |
| HSBA HSBC Holdings plc | 0.71% |
| NOVN Novartis AG | 0.64% |
| RY Royal Bank of Canada | 0.64% |
So — essentially different. Should you hold both?
IWM and VXUS hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~946 effective positions (grade A), because they hold largely different securities.
Holdings as of — IWM: Jul 30, 2026 (iShares (BlackRock)); VXUS: 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 VXUS — FAQ
- How much do IWM and VXUS overlap?
- IWM and VXUS 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 VXUS. They share 0 of their listed top holdings in total.
- Is it redundant to hold both IWM and VXUS?
- 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 946 positions and a A diversification grade.
- What does VXUS hold that IWM doesn't?
- VXUS's largest holdings that IWM doesn't hold include 2330, 005930, 000660, ASML, 700. Its category is total ex-US, versus IWM's US small-cap.
- Which is more concentrated, IWM or VXUS?
- IWM's top 10 holdings are 26% of its listed weight; VXUS's are 50%. The more concentrated fund leans harder on its largest names.