VBR vs IWR overlap
VBR and IWR overlap 27.6% by weight, across 374 shared holdings.
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Top shared holdings
| Holding | VBR | IWR | Overlap |
|---|---|---|---|
| Flex Ltd.FLEX | 0.32% | 0.43% | 0.32% |
| Jabil Inc.JBL | 0.87% | 0.29% | 0.29% |
| Emcor Group Inc.EME | 0.40% | 0.26% | 0.26% |
| Qnity ElectronicQ | 0.37% | 0.25% | 0.25% |
| Centene Corp.CNC | 0.34% | 0.23% | 0.23% |
| Steel DynamicsSTLD | 0.34% | 0.22% | 0.22% |
| MKS Inc.MKSI | 0.32% | 0.21% | 0.21% |
| NRG EnergyNRG | 0.66% | 0.21% | 0.21% |
| Tapestry Inc.TPR | 0.63% | 0.21% | 0.21% |
| Atmos EnergyATO | 0.62% | 0.21% | 0.21% |
| Williams-SonomaWSM | 0.59% | 0.20% | 0.20% |
| Illumina Inc.ILMN | 0.27% | 0.19% | 0.19% |
| Moderna Inc.MRNA | 0.54% | 0.18% | 0.18% |
| EQT Corp.EQT | 0.18% | 0.23% | 0.18% |
| Smurfit WestrockSW | 0.52% | 0.17% | 0.17% |
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: VBR, SEC Form N-PORT, June 30, 2026; IWR, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | VBR | IWR |
|---|---|---|
| Jones Financial Companies LLLP | $251.3M | $10.9B |
| Bank of America Corp. | $3.3B | $7.6B |
| Wells Fargo & Company | $407.3M | $5.0B |
| Morgan Stanley | $938.8M | $1.3B |
| PNC Financial Services Group, Inc. | $205.2M | $1.4B |
| US Bancorp | $45.7M | $1.4B |
| Baird Financial Group, Inc. | $39.1M | $1.2B |
| Bank of New York Mellon Corp | $14.0M | $1.2B |
| Assetmark, Inc. | $1.2B | $1.6M |
| UBS Group AG | $356.4M | $811.2M |
| Northern Trust Corp. | $6.6M | $1.1B |
| Royal Bank of Canada | $117.9M | $895.3M |
| JPMorgan Chase & Co | $170.6M | $812.9M |
| Envestnet Asset Management Inc. | $387.2M | $496.5M |
| LPL Financial LLC | $375.2M | $411.5M |
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: VBR institutional holders, IWR institutional holders.
Frequently asked questions
How much do VBR and IWR overlap?
27.6% by weight, with 374 holdings in common, using holdings for VBR as of June 30, 2026 and IWR as of June 30, 2026. The largest shared position is FLEX.
Do institutions hold both VBR and IWR?
901 Form 13F filers report positions in both, out of 2,450 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%.