AIRR vs MDYG: Holdings Overlap
AIRRFirst Trust RBA American Industrial Renaissance ETF
First Trust · 52 holdings · $10.7B · as of 2026-03-31
MDYGState Street® SPDR® S&P 400™ Mid Cap Growth ETF
State Street (SPDR) · 245 holdings · $2.9B · as of 2026-08-06
Holdings snapshots are 128 days apart (AIRR: 2026-03-31, MDYG: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are AIRR and MDYG?
First Trust RBA American Industrial Renaissance ETF (AIRR, by First Trust) holds 52 positions; State Street® SPDR® S&P 400™ Mid Cap Growth ETF (MDYG, by State Street (SPDR)) holds 245. They have 16 holdings in common, and by portfolio weight the two funds are 7.8% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 16AIRR holds 52 · MDYG holds 245
- Weight in Shared Holdings
- AIRR 40%·MDYG 8%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in AIRR
36 of 52 positions (60.2% of the fund) are not held by MDYG. Showing the top 30 by weight.
Sector Breakdown
| Sector | AIRR | MDYG |
|---|---|---|
| Industrials | 91.9% | 29.8% |
| Information Technology | 0.0% | 20.2% |
| Health Care | 0.0% | 15.5% |
| Consumer Discretionary | 0.0% | 9.0% |
| Financials | 8.0% | 8.0% |
| Other Sectors | 0.0% | 17.3% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| AIRR | +0.6% | +25.7% | +39.9% | +32.0% | +24.5% | +20.5% | 0.09% |
| MDYG | +3.3% | +21.6% | +28.0% | +16.0% | +8.5% | +11.3% | 0.56% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in AIRR vs MDYG →
Shared Holdings(16)
The top 10 shared positions account for 82% of the overlap, led by RBC, STRL and MTZ.
 RBCRBC Bearings Incorporated | 2.32% | 0.95% | 0.95% |
|---|---|---|---|
 STRLSterling Infrastructure Inc COM | 3.96% | 0.88% | 0.88% |
 MTZMastec, Inc. COM | 4.65% | 0.85% | 0.85% |
 BWXTBWX Technologies Inc. COM | 3.13% | 0.81% | 0.81% |
 DYDycom Industries, Inc. COM | 3.07% | 0.64% | 0.64% |
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 1.91% | 0.57% | 0.57% |
 SPXCSPX Technologies, Inc. COM | 3.13% | 0.57% | 0.57% |
 CLHClean Harbors, Inc. COM | 2.46% | 0.42% | 0.42% |
 AITApplied Industrial Technologies Inc. COM | 1.83% | 0.39% | 0.39% |
 IESCIES Holdings Inc. COM | 1.83% | 0.36% | 0.36% |
 AAONAaon Inc COM PAR $0.004 | 1.96% | 0.33% | 0.33% |
 WMSAdvanced Drainage System Inc COM | 1.53% | 0.32% | 0.32% |
 OSKOshkosh Corporation COM | 1.94% | 0.24% | 0.24% |
 CNMCore & Main, Inc., Class A | 2.80% | 0.20% | 0.20% |
 KEXKirby Corporation | 1.90% | 0.17% | 0.17% |
 MSMMSC Industrial Direct Co., Inc., Class A | 1.30% | 0.13% | 0.13% |
Frequently Asked Questions
How much do AIRR and MDYG overlap?
AIRR and MDYG overlap by 7.8% of portfolio weight. They share 16 holdings (AIRR holds 52 positions and MDYG holds 245), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AIRR and MDYG?
The two portfolios are 7.8% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of AIRR and MDYG?
The largest positions held by both funds are RBC, STRL, MTZ, BWXT and DY. Together the top 10 shared positions account for 82% of the total overlap.
What does AIRR own that MDYG doesn't?
36 positions (60.2% of AIRR) are unique to AIRR, led by AGX, FIX and EME. In the other direction, 229 positions (92.0% of MDYG) are unique to MDYG.