EWG vs FEZ overlap - what they share and where they differ
EWG and FEZ share 28.3% of their weight across 16 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
EWG and FEZ
28.3%
16 shared positions
EWG
iShares MSCI Germany ETF
Reported positions cover 100% of the fund, 51 positions · Aug 31, 2026
Top 10: 63.0%·Holdings of EWG
FEZ
State Street(R) SPDR(R) EURO STOXX 50(R) ETF
Reported positions cover 99% of the fund, 49 positions · Jun 30, 2026
Top 10: 41.9%·Holdings of FEZ
Reported positions cover EWG 100%, FEZ 99% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
FEZ vs EWG side by side
EWGiShares MSCI Germany ETF
51
stock positions reported to the SEC
23.9% of its weight is in 35 names FEZ does not hold
FEZState Street(R) SPDR(R) EURO STOXX 50(R) ETF
49
stock positions reported to the SEC
70.7% of its weight is in 33 names EWG does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Energy: FEZ has 4.4 points more of it.
The figures side by side
| EWG | FEZ | |
|---|---|---|
| Filing date | Aug 31, 2026 | Jun 30, 2026 |
| Stock positions reported | 51 | 49 |
| Weight of the ten largest | 63.0% | 41.9% |
| Largest position | SIEMENS AKTIENGESELLSCHAFT 12.2% | ASML 10.4% |
| Held alone | 35 positions, 23.9% | 33 positions, 70.7% |
| Covered by stock positions | 100% | 99% |
Holdings they share
| Stock | In EWG | In FEZ | Counted |
|---|---|---|---|
| SIEMENS AKTIENGESELLSCHAFT | 12.19% | 4.66% | 4.66% |
| ALLIANZ SE | 9.82% | 3.56% | 3.56% |
| SAPSAP SE | 11.38% | 3.06% | 3.06% |
| SIEMENS ENERGY AG | 6.32% | 3.05% | 3.05% |
| INFINEON TECHNOLOGIES AG | 4.22% | 2.41% | 2.41% |
| DEUTSCHE TELEKOM AG | 5.59% | 1.87% | 1.87% |
| MUENCHENER RUECKVERSICHERUNGS-GESELLSCHAFT AKTIENGESELLSCHAFT IN MUENCHEN | 3.89% | 1.40% | 1.40% |
| DBDeutsche Bank Aktiengesellschaft | 3.60% | 1.28% | 1.28% |
| DEUTSCHE POST AG | 2.96% | 1.14% | 1.14% |
| BAYER AKTIENGESELLSCHAFT | 2.77% | 1.07% | 1.07% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in EWG
Only in FEZ
Questions people ask
Is EWG the same as FEZ?
28.3% of their weight sits in the same 16 holdings. EWG also reports E.ON SE, RWE AKTIENGESELLSCHAFT, COMMERZBANK AKTIENGESELLSCHAFT., which the other does not. FEZ also reports ASML, BANCO SANTANDER, S.A., SCHNEIDER ELECTRIC SE, which the other does not.
How is the overlap between EWG and FEZ measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 100% of EWG and 99% of FEZ, so the number cannot exceed the smaller coverage.
Which holds more, FEZ or EWG?
EWG reports 51 stock positions and FEZ reports 49. 23.9% of EWG's weight sits in names FEZ does not hold, and 70.7% of FEZ's weight in names EWG does not hold. The ten largest positions are 63.0% of EWG and 41.9% of FEZ.
How do EWG and FEZ differ by sector?
The widest gap is Energy: FEZ has 4.4 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
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Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.