Guardfolio Research · ETF Overlap
VGT vs SPY Overlap: 22.4% of Weight in Shared Holdings
VGT (Vanguard Information Technology) and SPY (SPDR S&P 500) overlap by 22.4% of weight through 4 shared top-10 holdings — including NVDA, AAPL, MSFT, AVGO. Here is exactly which stocks duplicate, the sector picture, and whether holding both concentrates or diversifies your portfolio.
Overlap Summary
Bottom line
VGT and SPY share 22.4% of their top-10 weight across 4 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies.
The Data
Exactly which stocks VGT and SPY share
The table below shows every holding that appears in both funds' top 10, with each fund's weight and the shared (minimum) weight that counts toward overlap.
| Holding | VGT weight | SPY weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp. (NVDA) | 18.60% | 7.84% | 7.84% |
| Apple Inc. (AAPL) | 14.82% | 6.44% | 6.44% |
| Microsoft Corp. (MSFT) | 10.02% | 4.89% | 4.89% |
| Broadcom Inc. (AVGO) | 4.60% | 3.20% | 3.20% |
| Total shared top-10 weight | 48.0% | 22.4% | 22.4% |
Weights are approximate, based on the most recent quarterly holdings. The 22.4% figure is the sum of the lesser of each fund's weight per shared holding (the conservative top-10 method).
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Sector Picture
VGT vs SPY: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (33.0% combined sector overlap).
| Sector | VGT | SPY |
|---|---|---|
| Technology | 100.0% | 33.1% |
| Financial Services | 0.0% | 12.2% |
| Consumer Discretionary | 0.0% | 10.4% |
| Healthcare | 0.0% | 9.3% |
| Industrials | 0.0% | 8.6% |
| Communication Services | 0.0% | 8.2% |
The Verdict
Should you hold both VGT and SPY?
VGT and SPY share 22.4% of their top-10 weight across 4 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies. Worth knowing before you size both as core positions.
FAQ
VGT vs SPY overlap: common questions
How much do VGT and SPY overlap?
VGT (Vanguard Information Technology) and SPY (SPDR S&P 500) overlap by approximately 22.4% of weight based on their top-10 holdings, with 33.0% sector overlap. They share 4 top-10 holdings: NVDA, AAPL, MSFT, AVGO.
What stocks do VGT and SPY both hold?
Both VGT and SPY hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Broadcom Inc (AVGO) among their top positions. These shared names account for the 22.4% weight overlap.
Is it worth holding both VGT and SPY?
VGT and SPY share 22.4% of their top-10 weight across 4 common holdings. That is significant overlap: the funds reinforce the same bet, so combining them concentrates you more than it diversifies. Worth knowing before you size both as core positions.
What is the difference between VGT and SPY?
VGT is a technology-sector fund (US Sector – Technology, 0.10% expense ratio) and SPY is an S&P 500 fund (US Large-Cap Blend, 0.09% expense ratio). VGT's top 10 is 59.8% of the fund; SPY's is 38.4%.
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