Ok, there is a need for a classification here.

Jew (selfexplainatory I think), Israeli (citizen of the state of Israel), Israelite (member of the 12 tribes of the ancient Israeli kingdoms).

So if we are dealing with Holocaust, then it is Jews on a whole. If it is Holocaust victims who then proceeded to become Israeli personas, then it is of course both Jews and Israelis. But if it basically anything connected with Israel, be it young or old, then just take your pick.