etf overlap tool · light overlap
XAW vs XEF overlap
97% of XEF's money sits in companies XAW also holds; 22% of the two funds is the same money, spread over 2,458 companies both hold.
Holdings as of November 9, 2026 · source: iShares (XAW), iShares (XEF) · How we measured all 1,431 pairs
- same money
- same companies, extra weight
- only in this fund
XAW holds other funds, not stocks: iShares Canada publishes every security behind them, and those are the lines compared here. Its file gives a ticker and a country but no ISIN; 99.8% of its stock money was matched to one.
Its file gives a ticker and a country but no ISIN; 99.6% of its stock money was matched to one.
Hold XAW and XEF with other funds or stocks? The free portfolio optimizer opens XAW and XEF beside the rest of what you own: the companies you hold twice, what the funds cost a year, and where the next deposit should go. No account.
What only one of them gives you
AAPLAPPLE4.64%
NVDANVIDIA3.92%
MSFTMICROSOFT3.67%
AMZNAMAZON.COM INC2.38%
AVGOBROADCOM INC1.38%
Where each fund puts its money
XAW and XEF: what people ask
How much do XAW and XEF overlap?
22% by weight, as of November 9, 2026: light overlap. 2,458 companies appear in both funds; they make up 22% of XAW and 97% of XEF.
Which stocks do XAW and XEF both hold?
The largest shared positions are ASML, ROP, HSBA, NOVN and SHEL. Ranked by the smaller of the two weights, which is the part you would own twice.
Is it redundant to hold both XAW and XEF?
Out of every $100 split evenly between them, about $22 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 5,508 names only in XAW, 2 only in XEF. Half in each behaves like 296 equally weighted stocks, against 124 for XAW alone and 267 for XEF alone. Whether that duplication is a problem depends on the mix you want; this is a description, not advice.
How is ETF overlap calculated here?
For every company held by both funds we take the smaller of its two weights and add them up. The weights come from the full holdings files iShares publish, not a top-10 sample, and companies are matched by their ISIN so share classes stay apart. Sector overlap applies the same rule to the issuers' sector labels; "behaves like N equally weighted stocks" is one over the sum of the squared weights.
Weights come from each issuer's published holdings file and are matched company by company on their ISIN. Cash, futures and currency positions are left out. This page describes what the funds hold; it is not investment advice.