PWV vs FEX overlap
PWV and FEX overlap 15.1% by weight, across 49 shared holdings.
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Top shared holdings
| Holding | PWV | FEX | Overlap |
|---|---|---|---|
| Regeneron PharmREGN | 1.59% | 0.55% | 0.55% |
| ConocophillipsCOP | 1.36% | 0.52% | 0.52% |
| EOG ResourcesEOG | 1.44% | 0.52% | 0.52% |
| Travelers COS inTRV | 1.62% | 0.51% | 0.51% |
| Allstate Corp.ALL | 1.64% | 0.50% | 0.50% |
| Verizon CommunicVZ | 2.97% | 0.50% | 0.50% |
| EBAY Inc.EBAY | 1.31% | 0.46% | 0.46% |
| The Cigna GroupCI | 1.31% | 0.46% | 0.46% |
| Morgan StanleyMS | 3.21% | 0.45% | 0.45% |
| Phillips 66PSX | 1.61% | 0.45% | 0.45% |
| Valero EnergyVLO | 1.71% | 0.43% | 0.43% |
| Chevron Corp.CVX | 3.28% | 0.43% | 0.43% |
| Occidental PeteOXY | 1.31% | 0.42% | 0.42% |
| General Motors CGM | 1.47% | 0.41% | 0.41% |
| Exxon Mobil Corp.XOM | 3.20% | 0.41% | 0.41% |
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: PWV, SEC Form N-PORT, July 31, 2026; FEX, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | PWV | FEX |
|---|---|---|
| Morgan Stanley | $279.9M | $148.9M |
| LPL Financial LLC | $172.0M | $108.9M |
| Bank of America Corp. | $62.7M | $31.5M |
| Raymond James Financial Inc. | $42.8M | $37.5M |
| Wells Fargo & Company | $12.1M | $67.0M |
| Janney Montgomery Scott LLC | $663K | $71.3M |
| UBS Group AG | $34.0M | $25.8M |
| Commonwealth Equity Services, LLC | $21.8M | $30.5M |
| PNC Financial Services Group, Inc. | $37.3M | $447K |
| Arkadios Wealth Advisors | $35.0M | $2.0M |
| Osaic Holdings, Inc. | $12.4M | $24.5M |
| Royal Bank of Canada | $9.7M | $26.0M |
| Envestnet Asset Management Inc. | $14.9M | $12.1M |
| Private Advisor Group, LLC | $7.1M | $18.3M |
| IAG Wealth Partners, LLC | $25.0M | $178K |
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: PWV institutional holders, FEX institutional holders.
Frequently asked questions
How much do PWV and FEX overlap?
15.1% by weight, with 49 holdings in common, using holdings for PWV as of July 31, 2026 and FEX as of July 31, 2026. The largest shared position is REGN.
Do institutions hold both PWV and FEX?
79 Form 13F filers report positions in both, out of 358 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%.