SPSM vs IWS overlap
SPSM and IWS overlap 2.5% by weight, across 53 shared holdings.
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Top shared holdings
| Holding | SPSM | IWS | Overlap |
|---|---|---|---|
| Molina HealthcarMOH | 0.65% | 0.12% | 0.12% |
| Element SolutionESI | 0.59% | 0.11% | 0.11% |
| Match Group Inc.MTCH | 0.48% | 0.09% | 0.09% |
| Ralliant Corp.RAL | 0.45% | 0.08% | 0.08% |
| Qorvo Inc.QRVO | 0.41% | 0.08% | 0.08% |
| Eastman ChemicalEMN | 0.42% | 0.07% | 0.07% |
| Carmax Inc.KMX | 0.41% | 0.07% | 0.07% |
| Gates IndustrialGTES | 0.39% | 0.07% | 0.07% |
| Pool Corp.POOL | 0.37% | 0.07% | 0.07% |
| LKQ Corp.LKQ | 0.36% | 0.07% | 0.07% |
| Conagra Brands ICAG | 0.35% | 0.06% | 0.06% |
| Enphase EnergyENPH | 0.35% | 0.06% | 0.06% |
| Caesars EntertaiCZR | 0.33% | 0.06% | 0.06% |
| Mohawk INDSMHK | 0.34% | 0.06% | 0.06% |
| LAMB WestonLW | 0.32% | 0.06% | 0.06% |
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: SPSM, SEC Form N-PORT, June 30, 2026; IWS, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | SPSM | IWS |
|---|---|---|
| Morgan Stanley | $439.1M | $1.3B |
| LPL Financial LLC | $1.5B | $200.9M |
| Betterment LLC | $1.1B | $228.2M |
| Bank of America Corp. | $700.5M | $575.1M |
| Jones Financial Companies LLLP | $5.8M | $1.2B |
| Financial Engines Advisors L.L.C. | $1.1B | $3.6M |
| Wells Fargo & Company | $54.9M | $597.3M |
| Envestnet Asset Management Inc. | $367.2M | $138.0M |
| Envestnet Portfolio Solutions, Inc. | $56.3M | $415.2M |
| TIAA-CREF Individual & Institutional Services, LLC | $615K | $450.0M |
| UBS Group AG | $143.2M | $277.5M |
| Ameriprise Financial Inc. | $251.5M | $168.9M |
| Royal Bank of Canada | $41.1M | $358.1M |
| Commonwealth Equity Services, LLC | $58.2M | $307.5M |
| US Bancorp | $490K | $326.7M |
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: SPSM institutional holders, IWS institutional holders.
Frequently asked questions
How much do SPSM and IWS overlap?
2.5% by weight, with 53 holdings in common, using holdings for SPSM as of June 30, 2026 and IWS as of June 30, 2026. The largest shared position is MOH.
Do institutions hold both SPSM and IWS?
460 Form 13F filers report positions in both, out of 1,633 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%.