IWO(IWO)
AI Look-Through Summary
AI GeneratedThe IWO ETF has a concentrated portfolio, with top holdings making up nearly half of its assets under management. The fund's largest holding is BE, accounting for approximately 3.5% of the total AUM, followed closely by CRDO at around 2.1%. This high level of concentration may pose risks if any one of these names experiences significant volatility.
The sector allocation is relatively narrow, with Technology and Industrials making up a combined 8.8% of the portfolio. The fund's valuation posture appears to be growth-oriented, as evidenced by its weighted P/E ratio of 53.1x and weighted P/B ratio of 26.91x. A macro environment characterized by strong economic growth and rising interest rates may be unfavorable for this portfolio, given its high-growth profile. Conversely, a scenario with stable growth or declining interest rates could potentially benefit the fund's holdings.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-06-28 08:34:34.357954+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 45/100The investment theme implied by the ticker IWO is typically associated with small-cap growth, yet the provided sector breakdown reveals a significant misalignment. The portfolio's largest weightings are concentrated in Industrials and Technology sectors, which constitute only about eight percent of the total allocation combined when looking at top holdings alone. More critically, several prominent names within the top ten list lack specific industry classification data or appear to be unrelated to standard small-cap growth narratives, suggesting a potential disconnect between the fund's branding and its actual composition. The presence of companies with "N/A" classifications alongside established industrial and tech firms indicates that the underlying holdings may not strictly adhere to a cohesive thematic strategy, raising questions about whether the fund truly targets the specific niche suggested by its name or if it relies on broad market names for stability.
Concentration risk appears elevated relative to typical small-cap growth indices, as evidenced by the top ten concentration metric of 12.5 percent despite the relatively low individual weights shown in the list. The sector coherence is further challenged by the sparse representation of Industrials and Technology compared to what one might expect from a fund with such a specific thematic label; usually, these sectors would dominate or be more evenly distributed across smaller caps rather than appearing as minor components alongside unclassified entities. This structure suggests the fund may lack genuine differentiation from broader market indices, potentially using thematic naming conventions while maintaining an asset mix that does not fully reflect its stated investment philosophy. The data indicates a portfolio where sector weights and holding classifications do not align neatly with traditional expectations for this specific theme, leaving investors to determine if the current composition serves the intended strategic purpose or represents a deviation from standard small-cap growth characteristics.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-22 00:44:59.531967+00
🏢 Sector Analysis
AI GeneratedThe sector allocation data for IWO presents a notable divergence from the fund's typical industrial-focused profile, as Industrials and Technology together comprise only 8.4% of total assets. This minimal exposure to these core sectors suggests that the current portfolio is heavily weighted toward industries outside the standard manufacturing or tech hardware classifications, potentially indicating a strategic shift driven by recent market dynamics rather than an intentional tilt in this specific snapshot. The presence of significant holdings such as BE and IONQ within top positions further complicates the traditional sector narrative, highlighting a reliance on companies that may operate across multiple industrial sub-sectors or represent emerging technological applications not fully captured by standard industry categorizations.
Concentration risk appears elevated given that the top five holdings account for approximately 8.6% of assets, while the top ten collectively reach 12.5%. This level of concentration implies a strategy dependent on specific large-cap leaders rather than broad diversification across hundreds of smaller entities, which could amplify volatility if these key names underperform relative to their peers. The inclusion of firms like CRDO and FN in the technology slice alongside industrial giants creates an idiosyncratic factor tilt that blends growth characteristics with operational exposure, deviating from a pure value or momentum profile often associated with broader industrial indices. Ultimately, this allocation structure reflects a nuanced approach where sector definitions may be fluid based on business model evolution, requiring investors to assess whether the current distribution aligns with their views on long-term industry consolidation versus fragmentation.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 12:02:09.899974+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IWO's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 57% of IWO's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| VXFVXF | $84B | — | 10 | 14.2% |
| VBVB | $170B | — | 10 | 14.2% |
| VBKVBK | $40B | — | 10 | 14.2% |
| VTWOVTWO | $15B | — | 10 | 14.2% |
| VTIVanguard Total Stock Market Index Fund ETF Shares | $2.1T | 0.03% | 9 | 13.4% |
14% of IWO's portfolio by weight is also held by VXF, which commands 7× more assets under management. When VXF receives inflows, it mechanically buys these shared stocks — dragging IWO's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 70% ofIWO's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 63% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 14% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Earnings vs. Price Decomposition
ProprietaryIWO is up 38.6% over the last 12 months. The underlying weighted earnings growth of its constituents is -52.4%. The remaining +91.0% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 12% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IWO's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IWO's analyzed weight, 21% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 79% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 11% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
IWO has a Passive Crowding Score of 38/100. On average, 11.3% of the market capitalization of IWO's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 15 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 10 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | BE | Bloom Energy Corp Class A Industrials | 3.47% | — | 4/9 |
| 2 | CRDO | Credo Technology Group Holding Ltd Technology | 2.12% | 95.2x | 7/9 |
| 3 | STRL | Sterling Infrastructure Inc | 1.43% | 48.3x | 5/9 |
| 4 | IONQ | IonQ Inc Class A | 1.39% | 122.3x | 4/9 |
| 5 | FN | Fabrinet Technology | 1.32% | 45.0x | 2/9 |
| 6 | NXT | Nextpower Inc Class A Technology | 1.02% | 27.9x | 3/9 |
| 7 | GH | Guardant Health Inc | 0.90% | — | 5/9 |
| 8 | SITM | SiTime Corp Ordinary Shares | 0.89% | — | — |
| 9 | RMBS | Rambus Inc | 0.88% | 54.6x | 6/9 |
| 10 | DY | Dycom Industries Inc Industrials | 0.83% | 34.5x | 4/9 |
Historical Holdings Snapshots
Browse how IWO’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-06-30
10 holdings · 14.2% tracked weight2026-06-29
10 holdings · 14.2% tracked weight2026-06-28
10 holdings · 14.2% tracked weight2026-06-27
10 holdings · 14.2% tracked weight2026-06-26
10 holdings · 14.2% tracked weightSource: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove IWO Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price of $372.34 for the IWO index represents a specific snapshot in its ongoing market trajectory, yet without access to historical moving average data or Relative Strength Index values, a definitive assessment regarding momentum direction cannot be constructed from the provided figures alone. Determining whether the asset is trading above or below key trend lines requires comparative analysis with prior price action over various timeframes, which remains absent here. Similarly, evaluating short-term momentum through RSI necessitates knowledge of recent percentage changes in volume and price to establish if the market exhibits signs of overbought conditions or oversold states. In the absence of these critical technical parameters, any attempt to characterize the immediate trend as bullish or bearish would be speculative rather than factual. The static data point offers no insight into whether buying pressure is currently dominating selling interest or vice versa within the broader context of rolling averages. Consequently, while the price level itself indicates where the asset stands at this precise moment, it does not inherently confirm a strengthening upward trend nor suggest an imminent reversal without supporting indicators such as slope analysis or oscillator readings. Market participants must therefore rely on additional data points to form a complete picture of the technical setup before drawing conclusions about potential future movements. The current information limits observation to the absolute price value, leaving the dynamic relationship between price and its moving averages entirely undefined in this summary.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How IWO’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-30.
SecuritiesDB is for informational purposes only. Not investment advice.