IEO vs GDE overlap

IEO and GDE overlap 0.8% by weight, across 10 shared holdings.

IEOGDE

Pick 2 to 4 ETFs.

0.8%

overlap by weight, across 10 shared holdings

IEO71.3% of the fund is in shared holdings, of 46

GDE0.8% of the fund is in shared holdings, of 502

Top shared holdings

Holding	IEO	GDE	Overlap
ConocophillipsCOP	17.26%	0.18%	0.18%
Marathon PetroleMPC	10.17%	0.12%	0.12%
Valero EnergyVLO	10.54%	0.10%	0.10%
Phillips 66PSX	4.46%	0.10%	0.10%
EOG ResourcesEOG	6.56%	0.09%	0.09%
Devon Energy CoDVN	4.25%	0.06%	0.06%
Diamondback ENERFANG	4.29%	0.04%	0.04%
Texas Pacific laTPL	4.77%	0.03%	0.03%
EQT Corp.EQT	4.84%	0.03%	0.03%
Expand Energy CoEXE	4.10%	0.01%	0.01%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: IEO, SEC Form N-PORT, June 30, 2026; GDE, SEC Form N-PORT, May 31, 2026.

institutions report holding both, of 209 holding any

IEO35.8% of its 13F dollars, 14.9% of its 161 holders

GDE12.6% of its 13F dollars, 33.3% of its 72 holders

Largest institutions holding both

Firm	IEO	GDE
Morgan Stanley	$32.7M	$2.2M
Cambridge Investment Research Advisors, Inc.	$4.0M	$7.0M
LPL Financial LLC	$9.8M	$538K
Wells Fargo & Company	$9.8M	$56K
Susquehanna International Group, LLP	$4.3M	$3.5M
Ameriprise Financial Inc.	$4.8M	$2.2M
Kestra Advisory Services, LLC	$445K	$6.1M
UBS Group AG	$4.3M	$482K
Osaic Holdings, Inc.	$1.4M	$2.4M
Envestnet Asset Management Inc.	$1.8M	$1.2M
JPMorgan Chase & Co	$1.2M	$1.5M
Raymond James Financial Inc.	$1.7M	$219K
Northwestern Mutual Wealth Management Co	$1.8M	$6K
Sanctuary Advisors, LLC	$525K	$1.1M
Regatta Research & Money Management	$559K	$251K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: IEO institutional holders, GDE institutional holders.

Frequently asked questions

How much do IEO and GDE overlap?

0.8% by weight, with 10 holdings in common, using holdings for IEO as of June 30, 2026 and GDE as of May 31, 2026. The largest shared position is COP.

Do institutions hold both IEO and GDE?

24 Form 13F filers report positions in both, out of 209 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.