The most concentrated US equity ETFs

As of July 29, 2026. Computed across all holdings, not the top 10.

The most concentrated fund holds half its weight in just 3 stocks.

Most concentrated

1. Strive U.S. Energy ETF (DRLL) — 3 of 35 holdings
2. iShares US Oil Equipment Services ETF (IEZ) — 3 of 33 holdings
3. iShares MSCI Belgium ETF (EWK) — 4 of 41 holdings
4. iShares MSCI Austria ETF (EWO) — 4 of 24 holdings
5. iShares MSCI Spain ETF (EWP) — 4 of 26 holdings
6. iShares US Pharmaceuticals ETF (IHE) — 4 of 59 holdings
7. Pacer Industrial Real Estate ETF (INDS) — 4 of 35 holdings
8. iShares US Aerospace Defense ETF (ITA) — 4 of 51 holdings
9. iShares US Telecommunications ETF (IYZ) — 4 of 27 holdings
10. Strive U.S. Semiconductor ETF (SHOC) — 4 of 31 holdings

Least concentrated

1. Vanguard FTSE All-World ex-US Small-Cap ETF (VSS) — 621 of 4723 holdings
2. Dimensional - World ex US Core Equity 2 ETF (DFAX) — 432 of 9834 holdings
3. State Street SPDR S&P International Small Cap ETF (GWX) — 413 of 1976 holdings
4. iShares MSCI EAFE Small-Cap ETF (SCZ) — 391 of 2028 holdings
5. Schwab Fundamental International Small Equity ETF (FNDC) — 388 of 1532 holdings
6. Invesco RAFI Developed Markets ex-U.S. Small-Mid ETF (PDN) — 387 of 1555 holdings
7. Schwab International Small-Cap Equity ETF (SCHC) — 361 of 2119 holdings
8. iShares MSCI Emerging Markets Small-Cap ETF (EEMS) — 353 of 1682 holdings
9. Dimensional - International Small Cap ETF (DFIS) — 335 of 3402 holdings
10. Goldman Sachs ActiveBeta U.S. Small Cap Equity ETF (GSSC) — 328 of 1392 holdings

How we calculate this →