Guardfolio Research · ETF Overlap
VIG vs SPY Overlap: 11.2% of Weight in Shared Holdings
VIG (Vanguard Dividend Appreciation) and SPY (SPDR S&P 500) overlap by 11.2% of weight through 3 shared top-10 holdings — including 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
VIG and SPY have moderate, manageable overlap — about 11.2% of top-10 weight across 3 shared names. There is some double-up on the largest holdings, but the funds still pull in meaningfully different directions..
The Data
Exactly which stocks VIG 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 | VIG weight | SPY weight | Shared (min) |
|---|---|---|---|
| Apple Inc. (AAPL) | 4.05% | 6.44% | 4.05% |
| Microsoft Corp. (MSFT) | 3.95% | 4.89% | 3.95% |
| Broadcom Inc. (AVGO) | 5.16% | 3.20% | 3.20% |
| Total shared top-10 weight | 13.2% | 14.5% | 11.2% |
Weights are approximate, based on the most recent quarterly holdings. The 11.2% 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
VIG 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 (75.0% combined sector overlap).
| Sector | VIG | SPY |
|---|---|---|
| Technology | 26.5% | 33.1% |
| Financial Services | 22.5% | 12.2% |
| Healthcare | 14.5% | 9.3% |
| Industrials | 11.5% | 8.6% |
| Consumer Staples | 10.1% | 5.5% |
| Consumer Discretionary | 5.3% | 10.4% |
The Verdict
Should you hold both VIG and SPY?
VIG and SPY have moderate, manageable overlap — about 11.2% of top-10 weight across 3 shared names. There is some double-up on the largest holdings, but the funds still pull in meaningfully different directions.
FAQ
VIG vs SPY overlap: common questions
How much do VIG and SPY overlap?
VIG (Vanguard Dividend Appreciation) and SPY (SPDR S&P 500) overlap by approximately 11.2% of weight based on their top-10 holdings, with 75.0% sector overlap. They share 3 top-10 holdings: AAPL, MSFT, AVGO.
What stocks do VIG and SPY both hold?
Both VIG and SPY hold Apple Inc (AAPL), Microsoft Corp (MSFT), Broadcom Inc (AVGO) among their top positions. These shared names account for the 11.2% weight overlap.
Is it worth holding both VIG and SPY?
VIG and SPY have moderate, manageable overlap — about 11.2% of top-10 weight across 3 shared names. There is some double-up on the largest holdings, but the funds still pull in meaningfully different directions.
What is the difference between VIG and SPY?
VIG is a dividend fund (US Dividend, 0.05% expense ratio) and SPY is an S&P 500 fund (US Large-Cap Blend, 0.09% expense ratio). VIG's top 10 is 32.4% of the fund; SPY's is 38.4%.
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