Key findings
Observed comparisons, not prescriptive portfolio bands:
- Index siblings cluster most tightly. Funds tracking the same or closely related indexes dominate the highest-overlap results.
- Total-market and large-cap funds share many positions. The full-holdings method captures duplication beyond the largest ten names.
- Different labels do not guarantee diversification. Use overlap with allocation, correlation, costs, taxes, and investment objective.
Top 10 most-overlapping pairs
- QQQ vs QQQM99.82%
- IVV vs SPY97.53%
- SPY vs VOO96.22%
- IVV vs VOO95.72%
- ITOT vs VTI94.77%
- ITOT vs IVV88.79%
- VOO vs VTI88.51%
- SPY vs VTI87.47%
- IVV vs VTI87.05%
- ITOT vs VOO86.91%
The full 22 × 22 matrix
Each cell shows the weight-based overlap between the row ETF and the column ETF, in percent. Cells link through to detailed pair pages where one exists. Higher numbers are darker; the diagonal is empty (an ETF cannot overlap with itself).
| BND | DVY | IJR | ITOT | IVV | IWF | IWM | QQQ | QQQM | SCHD | SPY | VEA | VGT | VIG | VOO | VTI | VTV | VUG | VWO | VXUS | VYM | XLK | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BND | – | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DVY | 0% | – | 2.32% | 8.19% | 8.84% | 0.7% | 1.19% | 2.19% | 2.19% | 23.3% | 8.08% | 0% | 1.05% | 8.83% | 8.34% | 7.72% | 17.5% | 0% | 0% | 0% | 20.32% | 0.25% |
| IJR | 0% | 2.32% | – | 2.62% | 0.15% | 0.3% | 47.15% | 0% | 0% | 1.31% | 0% | 0% | 3.1% | 0.69% | 0% | 2.44% | 0% | 0% | 0% | 0% | 2.01% | 0% |
| ITOT | 0% | 8.19% | 2.62% | – | 88.79% | 53.77% | 4.23% | 47.86% | 47.86% | 7.43% | 86.59% | 0.1% | 35.06% | 37.87% | 86.91% | 94.77% | 38.32% | 50.74% | 0% | 0.1% | 33.04% | 32.8% |
| IVV | 0% | 8.84% | 0.15% | 88.79% | – | 56.92% | 0.15% | 53.52% | 53.52% | 8.06% | 97.53% | 0% | 37.27% | 40.07% | 95.72% | 87.05% | 42.78% | 55.84% | 0% | 0% | 34.59% | 36.94% |
| IWF | 0% | 0.7% | 0.3% | 53.77% | 56.92% | – | 0.15% | 58.15% | 58.1% | 3.26% | 56.07% | 0.06% | 53.44% | 30.48% | 55.82% | 52.62% | 11.78% | 75.86% | 0.16% | 0.13% | 12.93% | 51.15% |
| IWM | 0% | 1.19% | 47.15% | 4.23% | 0.15% | 0.15% | – | 0% | 0% | 1.48% | 0% | 0.06% | 4.97% | 1.02% | 0% | 4.01% | 0% | 0% | 0.01% | 0.06% | 2.57% | 0% |
| QQQ | 0% | 2.19% | 0% | 47.86% | 53.52% | 58.15% | 0% | – | 99.82% | 5.09% | 53.71% | 0.64% | 52.28% | 30.05% | 53.58% | 47.6% | 18.12% | 58.73% | 0.27% | 0.63% | 14.99% | 54.82% |
| QQQM | 0% | 2.19% | 0% | 47.86% | 53.52% | 58.1% | 0% | 99.82% | – | 5.08% | 53.71% | 0.64% | 52.23% | 30.04% | 53.57% | 47.6% | 18.12% | 58.66% | 0.26% | 0.63% | 14.99% | 54.73% |
| SCHD | 0% | 23.3% | 1.31% | 7.43% | 8.06% | 3.26% | 1.48% | 5.09% | 5.08% | – | 8.07% | 0% | 2.28% | 14.36% | 7.96% | 7.32% | 17.76% | 0.78% | 0% | 0% | 21.45% | 3.56% |
| SPY | 0% | 8.08% | 0% | 86.59% | 97.53% | 56.07% | 0% | 53.71% | 53.71% | 8.07% | – | 0% | 36.99% | 40.42% | 96.22% | 87.47% | 42.75% | 56.98% | 0% | 0% | 34.62% | 37.32% |
| VEA | 0% | 0% | 0% | 0.1% | 0% | 0.06% | 0.06% | 0.64% | 0.64% | 0% | 0% | – | 0.2% | 0.16% | 0% | 0.13% | 0.06% | 0.34% | 0.05% | 72.28% | 0% | 0% |
| VGT | 0% | 1.05% | 3.1% | 35.06% | 37.27% | 53.44% | 4.97% | 52.28% | 52.23% | 2.28% | 36.99% | 0.2% | – | 24.65% | 36.62% | 33.97% | 11.83% | 55.61% | 0% | 0% | 12.82% | 78.95% |
| VIG | 0% | 8.83% | 0.69% | 37.87% | 40.07% | 30.48% | 1.02% | 30.05% | 30.04% | 14.36% | 40.42% | 0.16% | 24.65% | – | 41.24% | 39.08% | 51.71% | 26.89% | 0% | 0.11% | 60.86% | 24.26% |
| VOO | 0% | 8.34% | 0% | 86.91% | 95.72% | 55.82% | 0% | 53.58% | 53.57% | 7.96% | 96.22% | 0% | 36.62% | 41.24% | – | 88.51% | 43.64% | 57.11% | 0% | 0% | 35.43% | 36.3% |
| VTI | 0% | 7.72% | 2.44% | 94.77% | 87.05% | 52.62% | 4.01% | 47.6% | 47.6% | 7.32% | 87.47% | 0.13% | 33.97% | 39.08% | 88.51% | – | 39.09% | 51.78% | 0.27% | 0.41% | 33.8% | 31.8% |
| VTV | 0% | 17.5% | 0% | 38.32% | 42.78% | 11.78% | 0% | 18.12% | 18.12% | 17.76% | 42.75% | 0.06% | 11.83% | 51.71% | 43.64% | 39.09% | – | 3.34% | 0% | 0.06% | 70.43% | 10.85% |
| VUG | 0% | 0% | 0% | 50.74% | 55.84% | 75.86% | 0% | 58.73% | 58.66% | 0.78% | 56.98% | 0.34% | 55.61% | 26.89% | 57.11% | 51.78% | 3.34% | – | 0% | 0.15% | 7.66% | 54.77% |
| VWO | 0% | 0% | 0% | 0% | 0% | 0.16% | 0.01% | 0.27% | 0.26% | 0% | 0% | 0.05% | 0% | 0% | 0% | 0.27% | 0% | 0% | – | 27.57% | 0.01% | 0% |
| VXUS | 0% | 0% | 0% | 0.1% | 0% | 0.13% | 0.06% | 0.63% | 0.63% | 0% | 0% | 72.28% | 0% | 0.11% | 0% | 0.41% | 0.06% | 0.15% | 27.57% | – | 0.01% | 0% |
| VYM | 0% | 20.32% | 2.01% | 33.04% | 34.59% | 12.93% | 2.57% | 14.99% | 14.99% | 21.45% | 34.62% | 0% | 12.82% | 60.86% | 35.43% | 33.8% | 70.43% | 7.66% | 0.01% | 0.01% | – | 12.31% |
| XLK | 0% | 0.25% | 0% | 32.8% | 36.94% | 51.15% | 0% | 54.82% | 54.73% | 3.56% | 37.32% | 0% | 78.95% | 24.26% | 36.3% | 31.8% | 10.85% | 54.77% | 0% | 0% | 12.31% | – |
Methodology
Overlap definition. For ETFs A and B, overlap is the sum of min(normalized weight in A, normalized weight in B) across every shared security in the licensed full-holdings files.
Holdings source. Financial Modeling Prep, with provider dates recorded per fund. Publication requires at least 20 non-cash holdings, provider weights from 95% to 105%, and at least 97% retained coverage for every fund.
Limitations. Holdings change, provider identifiers can differ, and overlap does not measure return correlation, tax consequences, or future diversification. Sector context is separately dated.
Reproducibility. The compact public dataset is at /data/etf-overlap-data.json. Content hash: 5fd8a50b63709137d9404350488c82c8b4582f9c4647c83cccdf11538cf7f0a9.
Check your own portfolio
The matrix shows pairwise overlap for 22 popular ETFs. Your portfolio probably has more than two — and may include funds outside this dataset.
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