IWB vs DFAC overlap
IWB and DFAC overlap 70.4% by weight, across 899 shared holdings.
Pick 2 to 4 ETFs.
Top shared holdings
| Holding | IWB | DFAC | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 6.72% | 5.27% | 5.27% |
| Apple Inc.AAPL | 6.03% | 5.12% | 5.12% |
| Microsoft Corp.MSFT | 3.99% | 4.41% | 3.99% |
| Amazon.COM Inc.AMZN | 3.33% | 3.14% | 3.14% |
| META Platforms-aMETA | 1.78% | 1.73% | 1.73% |
| Alphabet Inc.-aGOOGL | 3.00% | 1.69% | 1.69% |
| Broadcom Inc.AVGO | 2.53% | 1.18% | 1.18% |
| JPMorgan ChaseJPM | 1.26% | 1.09% | 1.09% |
| Micron TechMU | 1.87% | 1.09% | 1.09% |
| Alphabet Inc.-CGOOG | 2.42% | 1.09% | 1.09% |
| ELI Lilly & CoLLY | 1.38% | 1.05% | 1.05% |
| Johnson&JohnsonJNJ | 0.88% | 0.84% | 0.84% |
| Exxon Mobil Corp.XOM | 0.82% | 0.82% | 0.82% |
| Berkshire HATH-BBRK/B | 1.34% | 0.75% | 0.75% |
| VISA Inc.-Class aV | 0.82% | 0.70% | 0.70% |
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: IWB, SEC Form N-PORT, June 30, 2026; DFAC, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | IWB | DFAC |
|---|---|---|
| FMR LLC | $4.1B | $20.9M |
| Mercer Global Advisors Inc. | $295.4M | $3.2B |
| Jones Financial Companies LLLP | $3.5B | $8.5M |
| Focus Partners Wealth | $761.4M | $1.9B |
| Envestnet Asset Management Inc. | $1.6B | $612.7M |
| Bank of America Corp. | $1.9B | $263.9M |
| Forum Financial Management, LP | $2.3M | $1.9B |
| LPL Financial LLC | $1.0B | $822.1M |
| M&T Bank Corp | $1.2B | $2.8M |
| Northern Trust Corp. | $1.0B | $6.1M |
| BlackRock, Inc. | $937.7M | $13.6M |
| PNC Financial Services Group, Inc. | $947.3M | $3.2M |
| Morgan Stanley | $835.7M | $25.4M |
| Catalyst Capital Advisors LLC | $670.7M | $146.3M |
| Millburn Ridgefield LLC | $670.7M | $146.3M |
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: IWB institutional holders, DFAC institutional holders.
Frequently asked questions
How much do IWB and DFAC overlap?
70.4% by weight, with 899 holdings in common, using holdings for IWB as of June 30, 2026 and DFAC as of July 31, 2026. The largest shared position is NVDA.
Do institutions hold both IWB and DFAC?
598 Form 13F filers report positions in both, out of 2,166 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%.