IPKW vs FEP overlap

IPKW and FEP overlap 5.8% by weight, across 10 shared holdings.

IPKWFEP

Pick 2 to 4 ETFs.

5.8%

overlap by weight, across 10 shared holdings

IPKW26.6% of the fund is in shared holdings, of 159

FEP5.8% of the fund is in shared holdings, of 201

Top shared holdings

Holding	IPKW	FEP	Overlap
Intl CONS AirlinIAG	1.80%	0.87%	0.87%
Prosus NVPROSF	4.93%	0.76%	0.76%
ISS a/SISS	0.70%	0.72%	0.70%
Vodafone GroupVOD	2.53%	0.70%	0.70%
Centrica PLCCNA	0.97%	0.64%	0.64%
Equinor ASAEQNR	3.51%	0.58%	0.58%
Pandora a/SPNDORA	1.00%	0.52%	0.52%
Totalenergies SETTE	4.50%	0.40%	0.40%
Shell PLCSHELL	4.61%	0.39%	0.39%
SAAB AB-BSAABB	2.10%	0.25%	0.25%

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: IPKW, SEC Form N-PORT, July 31, 2026; FEP, SEC Form N-PORT, June 30, 2026.

institutions report holding both, of 187 holding any

IPKW61.3% of its 13F dollars, 44.4% of its 90 holders

FEP55.9% of its 13F dollars, 29.2% of its 137 holders

Largest institutions holding both

Firm	IPKW	FEP
Morgan Stanley	$39.6M	$50.5M
LPL Financial LLC	$37.1M	$31.5M
Bank of America Corp.	$40.7M	$6.9M
Raymond James Financial Inc.	$28.0M	$6.5M
UBS Group AG	$11.7M	$16.0M
Envestnet Asset Management Inc.	$1.5M	$17.0M
Cetera Investment Advisers	$6.2M	$12.2M
Cambridge Investment Research Advisors, Inc.	$8.3M	$9.5M
Wealth Enhancement Advisory Services, LLC	$6.6M	$9.3M
Wells Fargo & Company	$20	$13.7M
Jones Financial Companies LLLP	$9.8M	$479K
Sanctuary Advisors, LLC	$5.1M	$668K
Citadel Advisors LLC	$3.0M	$2.7M
MML Investors Services, LLC	$2.8M	$2.6M
Osaic Holdings, Inc.	$548K	$4.7M

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: IPKW institutional holders, FEP institutional holders.

Frequently asked questions

How much do IPKW and FEP overlap?

5.8% by weight, with 10 holdings in common, using holdings for IPKW as of July 31, 2026 and FEP as of June 30, 2026. The largest shared position is IAG.

Do institutions hold both IPKW and FEP?

40 Form 13F filers report positions in both, out of 187 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%.