Guardfolio Research · ETF Overlap
VTI vs SPY Overlap: 33.8% of Weight in Shared Holdings
VTI (Vanguard Total Stock Market) and SPY (SPDR S&P 500) overlap by 33.8% of weight through 10 shared top-10 holdings — including NVDA, AAPL, MSFT, AMZN, GOOGL. Here is exactly which stocks duplicate, the sector picture, and whether holding both concentrates or diversifies your portfolio.
Overlap Summary
Bottom line
VTI and SPY share 33.8% of their top-10 weight across 10 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 VTI 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 | VTI weight | SPY weight | Shared (min) |
|---|---|---|---|
| NVIDIA Corp. (NVDA) | 6.64% | 7.84% | 6.64% |
| Apple Inc. (AAPL) | 5.74% | 6.44% | 5.74% |
| Microsoft Corp. (MSFT) | 4.36% | 4.89% | 4.36% |
| Amazon.com, Inc. (AMZN) | 3.69% | 4.19% | 3.69% |
| Alphabet Inc. (GOOGL) | 3.23% | 3.62% | 3.23% |
| Broadcom Inc. (AVGO) | 2.85% | 3.20% | 2.85% |
| Alphabet Inc. (GOOG) | 2.54% | 2.89% | 2.54% |
| Meta Platforms, Inc. (META) | 1.93% | 2.16% | 1.93% |
| Tesla, Inc. (TSLA) | 1.55% | 1.74% | 1.55% |
| Berkshire Hathaway Inc. (BRK.B) | 1.22% | 1.40% | 1.22% |
| Total shared top-10 weight | 33.8% | 38.4% | 33.8% |
Weights are approximate, based on the most recent quarterly holdings. The 33.8% 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
VTI 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 (93.0% combined sector overlap).
| Sector | VTI | SPY |
|---|---|---|
| Technology | 30.9% | 33.1% |
| Financial Services | 13.0% | 12.2% |
| Consumer Discretionary | 10.4% | 10.4% |
| Healthcare | 9.6% | 9.3% |
| Industrials | 9.8% | 8.6% |
| Communication Services | 7.6% | 8.2% |
The Verdict
Should you hold both VTI and SPY?
VTI and SPY share 33.8% of their top-10 weight across 10 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
VTI vs SPY overlap: common questions
How much do VTI and SPY overlap?
VTI (Vanguard Total Stock Market) and SPY (SPDR S&P 500) overlap by approximately 33.8% of weight based on their top-10 holdings, with 93.0% sector overlap. They share 10 top-10 holdings: NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, META, TSLA, BRK.B.
What stocks do VTI and SPY both hold?
Both VTI and SPY hold NVIDIA Corp (NVDA), Apple Inc (AAPL), Microsoft Corp (MSFT), Amazon (AMZN), Alphabet Inc (GOOGL), Broadcom Inc (AVGO), Alphabet Inc (GOOG), Meta Platforms (META) among their top positions. These shared names account for the 33.8% weight overlap.
Is it worth holding both VTI and SPY?
VTI and SPY share 33.8% of their top-10 weight across 10 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 VTI and SPY?
VTI is a total US market fund (US Total Market, 0.03% expense ratio) and SPY is an S&P 500 fund (US Large-Cap Blend, 0.09% expense ratio). VTI's top 10 is 33.8% of the fund; SPY's is 38.4%.
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