AIRR vs SPMD: Holdings Overlap
AIRRFirst Trust RBA American Industrial Renaissance ETF
First Trust · 52 holdings · $10.7B · as of 2026-03-31
SPMDState Street® SPDR® Portfolio S&P 400™ Mid Cap ETF
State Street (SPDR) · 399 holdings · $18.5B · as of 2026-08-06
Holdings snapshots are 128 days apart (AIRR: 2026-03-31, SPMD: 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 SPMD?
First Trust RBA American Industrial Renaissance ETF (AIRR, by First Trust) holds 52 positions; State Street® SPDR® Portfolio S&P 400™ Mid Cap ETF (SPMD, by State Street (SPDR)) holds 399. They have 24 holdings in common, and by portfolio weight the two funds are 7.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24AIRR holds 52 · SPMD holds 399
- Weight in Shared Holdings
- AIRR 56%·SPMD 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
28 of 52 positions (44.2% of the fund) are not held by SPMD.
Sector Breakdown
| Sector | AIRR | SPMD |
|---|---|---|
| Industrials | 91.9% | 26.0% |
| Financials | 8.0% | 16.1% |
| Information Technology | 0.0% | 15.7% |
| Consumer Discretionary | 0.0% | 11.7% |
| Health Care | 0.0% | 10.3% |
| Other Sectors | 0.0% | 25.8% |
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% |
| SPMD | +3.1% | +18.5% | +26.0% | +14.6% | +9.1% | +11.3% | 1.19% |
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 SPMD →
Shared Holdings(24)
The top 10 shared positions account for 59% of the overlap, led by DY, OC and RBC.
 DYDycom Industries, Inc. COM | 3.07% | 0.67% | 0.67% |
|---|---|---|---|
 OCOwens Corning COM | 2.77% | 0.65% | 0.65% |
 RBCRBC Bearings Incorporated | 2.32% | 0.49% | 0.49% |
 STRLSterling Infrastructure Inc COM | 3.96% | 0.45% | 0.45% |
 MTZMastec, Inc. COM | 4.65% | 0.44% | 0.44% |
 CLHClean Harbors, Inc. COM | 2.46% | 0.42% | 0.42% |
 BWXTBWX Technologies Inc. COM | 3.13% | 0.42% | 0.42% |
 AITApplied Industrial Technologies Inc. COM | 1.83% | 0.36% | 0.36% |
 KTOSKratos Defense & Security Solutions, Inc. COM NEW | 1.91% | 0.30% | 0.30% |
 WTFCWintrust Financial Corporation COM | 1.69% | 0.30% | 0.30% |
 SPXCSPX Technologies, Inc. COM | 3.13% | 0.29% | 0.29% |
 WMSAdvanced Drainage System Inc COM | 1.53% | 0.29% | 0.29% |
 RRyder System, Inc. COM | 1.97% | 0.28% | 0.28% |
 SAIASaia Inc COM | 3.17% | 0.27% | 0.27% |
 OSKOshkosh Corporation COM | 1.94% | 0.26% | 0.26% |
 ONBOld National Bancorp COM | 1.57% | 0.25% | 0.25% |
 CNMCore & Main, Inc., Class A | 2.80% | 0.24% | 0.24% |
 KEXKirby Corporation | 1.90% | 0.20% | 0.20% |
 FNBF N B Corp (Pennsylvania) COM | 1.88% | 0.19% | 0.19% |
 IESCIES Holdings Inc. COM | 1.83% | 0.19% | 0.19% |
 AAONAaon Inc COM PAR $0.004 | 1.96% | 0.17% | 0.17% |
 LSTRLandstar System Inc. COM | 1.60% | 0.17% | 0.17% |
 MSMMSC Industrial Direct Co., Inc., Class A | 1.30% | 0.16% | 0.16% |
 ASBAssociated Banc-Corp COM | 1.36% | 0.14% | 0.14% |
Frequently Asked Questions
How much do AIRR and SPMD overlap?
AIRR and SPMD overlap by 7.6% of portfolio weight. They share 24 holdings (AIRR holds 52 positions and SPMD holds 399), based on each fund's latest SEC-reported holdings.
Is it redundant to own both AIRR and SPMD?
The two portfolios are 7.6% 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 SPMD?
The largest positions held by both funds are DY, OC, RBC, STRL and MTZ. Together the top 10 shared positions account for 59% of the total overlap.
What does AIRR own that SPMD doesn't?
28 positions (44.2% of AIRR) are unique to AIRR, led by AGX, FIX and EME. In the other direction, 375 positions (98.1% of SPMD) are unique to SPMD.