IVW(IVW)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation reveals a significant overweight in Technology, which accounts for nearly 36% of the fund's holdings, while also having notable exposures to Communication Services and Consumer Cyclical sectors. This suggests that IVW is positioned to benefit from growth-oriented industries, particularly those related to technology and online services. The weighted P/E ratio of 30.2x indicates a premium valuation posture compared to the broader market.
The top holdings are heavily concentrated in tech giants, with NVIDIA (NVDA) and Microsoft (MSFT) making up nearly 24% of the portfolio combined. This concentration risk may amplify potential sector-specific volatility. In contrast, the portfolio's underweight in defensive sectors such as Healthcare is notable. A favorable macro environment for this portfolio would likely involve sustained growth in technology and online services, while an unfavorable scenario might be characterized by a slowdown in these sectors or increased regulatory scrutiny.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-24 20:03:58.637149+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 15/100The investment theme implied by the ticker IVW is International Developed Equity, yet the provided holdings list consists entirely of United States-based mega-cap technology and communication services giants. There is a complete absence of international exposure in the top ten positions, which creates a fundamental disconnect between the fund's stated objective and its actual composition. While these companies are global leaders, their domicile remains domestic, suggesting that any potential thematic alignment with "international" markets may be nominal rather than substantive based on this data snapshot. The heavy reliance on a handful of US stocks indicates that the portfolio is likely stabilized by broad-market names rather than adhering to a strict geographic or cross-border investment strategy.
Sector coherence further challenges the differentiation from standard broad market indices, as the top ten concentration reaches 60.7%, heavily skewed toward Technology and Communication Services. The sector weights show a dominant presence of US tech giants that mirror the composition of major domestic indexes rather than offering distinct international diversification. With only minimal exposure to other sectors like Healthcare or Consumer Cyclical represented by single holdings, the portfolio lacks the breadth typically associated with an international developed equity strategy. Consequently, the fund appears to function more as a proxy for large-cap US equities under a different label, raising questions about whether it provides genuine thematic differentiation or merely tracks general market trends through its selection of dominant domestic players.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-22 23:57:34.373995+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors across the top holdings of IVW reveal a distinct convergence around regulatory and compliance pressures, specifically concerning climate change mandates, data privacy laws, and artificial intelligence governance. These disclosures indicate that major technology leaders are increasingly anticipating material adverse impacts on their financial conditions resulting from evolving environmental regulations and stricter adherence to responsible AI usage standards. Furthermore, cybersecurity risks tied to expanding data privacy requirements are highlighted as potential drivers of increased operational costs, suggesting a broader industry trend where legal frameworks may constrain business operations more significantly than in previous periods.
This pattern raises questions regarding the concentration of systemic exposure within this fund, particularly given that the largest single holding, NVDA, explicitly flags all three macro-level threats simultaneously. While other top holdings such as Microsoft and Google are not detailed with these specific new disclosures in this dataset, the prominence of regulatory cost escalation in the sector's most weighted asset suggests a correlated downside scenario if broader legislation tightens across the technology landscape. The fund's heavy allocation to companies facing simultaneous pressure from environmental compliance, AI regulation, and cybersecurity mandates implies that macro-level policy shifts could disproportionately affect aggregate performance due to the high correlation of these specific risk vectors among top-tier constituents.
In addition to these shared systemic threats, NVDA carries a unique weight of 14.6% within the portfolio, making any material adverse impact from its identified risks particularly significant for overall fund volatility. The explicit linkage between AI regulation compliance and competitive positioning in this disclosure introduces a specific strategic vulnerability that differs slightly from general operational cost concerns raised by other firms like LLY or BRK-B. While these factors represent factual observations of disclosed liabilities rather than predictions of future outcomes, the sheer scale of NVDA's position means that regulatory headwinds faced here would have an outsized effect on the fund compared to risks distributed more evenly across smaller holdings.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-24 14:22:00.053481+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of IVW reveals a portfolio heavily weighted toward Technology, which accounts for over one-third of total assets and dominates the top five holdings. This aggressive concentration within a single industry suggests an investment thesis centered on capturing growth momentum from large-cap semiconductor and software leaders rather than seeking broad market diversification across defensive or value-oriented sectors. The presence of Communication Services at 16.1% further reinforces this bias toward high-growth, internet-enabled industries, while the minimal exposure to Consumer Cyclical and Healthcare indicates a deliberate avoidance of traditional economic stabilizers that typically perform well during periods of slower growth or inflationary pressure.
A top-ten concentration level exceeding sixty percent highlights significant idiosyncratic risk tied specifically to the performance of its largest constituents, particularly NVIDIA, which alone represents nearly fifteen percent of the fund's value. Such a structure implies that short-term price volatility in these specific equities will have an outsized impact on the ETF's overall trajectory compared to more broadly diversified vehicles. The heavy reliance on just four technology names within the top holdings also points to a factor tilt heavily skewed toward large-cap growth and potentially high beta, exposing investors to elevated sensitivity during market corrections where mega-cap tech stocks often lead declines. Ultimately, this allocation profile reflects a strategy designed for maximum exposure to current digital infrastructure trends rather than balanced risk management across diverse economic cycles.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-24 04:21:51.946954+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share IVW's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of IVW's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| IWBIWB | $43B | — | 9 | 58.5% |
| OEFOEF | $18B | — | 9 | 58.5% |
| SCHBSchwab U.S. Broad Market ETF | $37B | — | 9 | 58.1% |
| QUSQUS | $1B | — | 9 | 58.1% |
| SPYGSPYG | $42B | — | 9 | 58.1% |
59% of IVW's portfolio by weight is also held by IWB. When IWB receives inflows, it mechanically buys these shared stocks — dragging IVW's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofIVW'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
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level 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 61% 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. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside IVW collectively pay out 20% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 54% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryIVW is up 35.1% over the last 12 months. The underlying weighted earnings growth of its constituents is +59.2%. Despite earnings growth, valuations have contracted by 24.1% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 61% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of IVW's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of IVW's analyzed weight, 96% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 4% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 61% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
HIGHNVDA at 14.6% contributes an estimated 44% of portfolio variance.IVW holds 10 stocks but behaves like an 21-stock portfolio due to weight concentration in the top holdings.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². 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.
IVW has a Passive Crowding Score of 31/100. On average, 9.4% of the market capitalization of IVW'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 52 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 | NVDA | NVIDIA Corp Technology | 14.57% | 32.4x | 4/9 |
| 2 | MSFT | Microsoft Corp Technology | 9.10% | 26.8x | 5/9 |
| 3 | GOOGL | Alphabet Inc Class A Communication Services | 6.73% | 29.0x | 6/9 |
| 4 | AAPL | Apple Inc Technology | 5.99% | 37.7x | 8/9 |
| 5 | AVGO | Broadcom Inc Technology | 5.95% | 86.9x | 8/9 |
| 6 | GOOG | Alphabet Inc Class C Communication Services | 5.37% | 28.7x | 6/9 |
| 7 | AMZN | Amazon.com Inc Consumer Cyclical | 4.12% | 31.7x | 6/9 |
| 8 | META | Meta Platforms Inc Class A Communication Services | 4.02% | 23.0x | 5/9 |
| 9 | BRK-B | Berkshire Hathaway Inc Class B | 2.61% | 14.1x | 4/9 |
| 10 | LLY | Eli Lilly and Co Healthcare | 2.23% | 39.2x | 7/9 |
Historical Holdings Snapshots
Browse how IVW’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
10 holdings · 60.7% tracked weight2026-05-23
10 holdings · 60.7% tracked weight2026-05-22
10 holdings · 60.7% tracked weight2026-05-21
10 holdings · 60.7% tracked weight2026-05-20
10 holdings · 60.7% 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 IVW Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price action for IVW at $136.62 presents a snapshot where institutional positioning can be inferred through the interplay of moving averages and volume dynamics, though specific crossover data is absent from the provided parameters. Without explicit confirmation of recent Simple Moving Average (SMA) interactions or defined volume trends relative to historical norms, it remains impossible to definitively characterize whether larger market participants are aggressively accumulating shares near this level or potentially reducing exposure. In a vacuum where directional momentum indicators like SMA crossovers are not supplied, the observed price point serves merely as a static reference rather than evidence of an imminent shift in institutional sentiment. Consequently, any attempt to deduce specific behavioral patterns regarding smart money activity is speculative without supplementary data on volume spikes or average slope changes that typically accompany significant capital inflows or outflows. The absence of these critical contextual elements prevents the formation of a coherent narrative about whether major players view $136.62 as an attractive entry zone for long-term holdings or a resistance point warranting profit-taking. Observers must therefore treat this price level in isolation, acknowledging that without corroborating signals from volume profiles or trendline breaches, no clear conclusion can be drawn regarding the strategic alignment of institutional investors at this specific moment in time.
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 IVW’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.
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.