IWO vs DFAS overlap
IWO and DFAS overlap 28.4% by weight, across 770 shared holdings.
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Top shared holdings
| Holding | IWO | DFAS | Overlap |
|---|---|---|---|
| MOOG Inc.-Class aMOG/A | 0.73% | 0.21% | 0.21% |
| Firstcash HoldinFCFS | 0.53% | 0.19% | 0.19% |
| Brinker IntlEAT | 0.44% | 0.19% | 0.19% |
| Stonex Group Inc.SNEX | 0.52% | 0.19% | 0.19% |
| Krystal BiotechKRYS | 0.58% | 0.18% | 0.18% |
| Healthequity Inc.HQY | 0.46% | 0.18% | 0.18% |
| Interdigital Inc.IDCC | 0.44% | 0.17% | 0.17% |
| ESCO Tech Inc.ESE | 0.56% | 0.17% | 0.17% |
| Crinetics PharmaCRNX | 0.23% | 0.17% | 0.17% |
| RIOT Platforms IRIOT | 0.39% | 0.16% | 0.16% |
| Oscar Health -aOSCR | 0.41% | 0.16% | 0.16% |
| Alkermes PLCALKS | 0.42% | 0.16% | 0.16% |
| Laureate EducatiLAUR | 0.27% | 0.16% | 0.16% |
| Brightspring HEABTSG | 0.68% | 0.16% | 0.16% |
| FED Signal Corp.FSS | 0.47% | 0.16% | 0.16% |
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: IWO, SEC Form N-PORT, June 30, 2026; DFAS, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | IWO | DFAS |
|---|---|---|
| Creative Planning | $67.3M | $2.3B |
| Bank of America Corp. | $1.4B | $561.7M |
| Northern Trust Corp. | $162.7M | $778.1M |
| Morgan Stanley | $917.3M | $12.6M |
| Envestnet Asset Management Inc. | $425.6M | $154.3M |
| Goldman Sachs Group Inc. | $380.5M | $1.6M |
| Cassaday & Co Wealth Management LLC | $373.1M | $72K |
| Focus Partners Wealth | $44.4M | $269.8M |
| LPL Financial LLC | $235.8M | $77.6M |
| Wells Fargo & Company | $277.7M | $24.3M |
| UBS Group AG | $201.4M | $87.9M |
| Pure Financial Advisors, LLC | $325K | $268.7M |
| Raymond James Financial Inc. | $171.0M | $92.8M |
| PNC Financial Services Group, Inc. | $233.5M | $2.2M |
| TCI Wealth Advisors, Inc. | $202K | $232.3M |
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: IWO institutional holders, DFAS institutional holders.
Frequently asked questions
How much do IWO and DFAS overlap?
28.4% by weight, with 770 holdings in common, using holdings for IWO as of June 30, 2026 and DFAS as of July 31, 2026. The largest shared position is MOG/A.
Do institutions hold both IWO and DFAS?
389 Form 13F filers report positions in both, out of 1,628 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%.