DFAS vs SPY: Holdings Overlap
DFASDimensional U.S. Small Cap ETF
Dimensional · 2121 holdings · $15.3B · as of 2026-04-30
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (DFAS: 2026-04-30, SPY: 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 DFAS and SPY?
Dimensional U.S. Small Cap ETF (DFAS, by Dimensional) holds 2121 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 43 holdings in common, and by portfolio weight the two funds are 0.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 43DFAS holds 2121 · SPY holds 504
- Weight in Shared Holdings
- DFAS 4%·SPY 1%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 DFAS
2078 of 2121 positions (95.5% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | DFAS | SPY |
|---|---|---|
| Information Technology | 12.0% | 37.6% |
| Industrials | 20.6% | 8.8% |
| Financials | 19.2% | 12.3% |
| Consumer Discretionary | 12.4% | 9.3% |
| Health Care | 11.1% | 8.9% |
| Other Sectors | 21.9% | 23.1% |
| Unclassified | 2.7% | 0.0% |
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. “Unclassified” is weight we could not classify (3% of DFAS, 0% of SPY).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| DFAS | +3.2% | +20.5% | +31.3% | +14.8% | +9.1% | — | 0.95% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
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 DFAS vs SPY →
Shared Holdings(43)
The top 10 shared positions account for 36% of the overlap, led by MRNA, VTRS and CF.
 MRNAModerna Inc COM | 0.06% | 0.03% | 0.03% |
|---|---|---|---|
 VTRSViatris Inc COM | 0.12% | 0.03% | 0.03% |
 CFCF Industries Holdings, Inc. COM | 0.03% | 0.03% | 0.03% |
 ZBRAZebra Technologies Corporation CL A | 0.03% | 0.03% | 0.03% |
 SWKStanley Black & Decker, Inc. COM | 0.12% | 0.02% | 0.02% |
 ALBAlbemarle Corp COM | 0.15% | 0.02% | 0.02% |
 AIZAssurant Inc. COM | 0.15% | 0.02% | 0.02% |
 GLGlobe Life Inc COM | 0.18% | 0.02% | 0.02% |
 IVZInvesco Ltd COM STK USD0.20 | 0.21% | 0.02% | 0.02% |
 BAXBaxter International, Inc. COM | 0.08% | 0.02% | 0.02% |
 APAAPA Corp. COM | 0.25% | 0.02% | 0.02% |
 CRLCharles River Laboratories International, Inc. COM | 0.16% | 0.02% | 0.02% |
 RVTYRevvity Inc COM | 0.13% | 0.02% | 0.02% |
 SJMThe J M Smucker Company COM NEW | 0.11% | 0.02% | 0.02% |
 HIIHuntington Ingalls Industries, Inc. COM | 0.21% | 0.02% | 0.02% |
 GNRCGenerac Holdings Inc. COM | 0.23% | 0.02% | 0.02% |
 HASHasbro Inc COM | 0.22% | 0.02% | 0.02% |
 PNWPinnacle West Capital Corp. COM | 0.17% | 0.02% | 0.02% |
 TECHBio-Techne Corp COM | 0.11% | 0.02% | 0.02% |
 JKHYHenry Jack & Associates Inc. COM | 0.04% | 0.02% | 0.02% |
 ALGNAlign Technology Inc. COM | 0.11% | 0.02% | 0.02% |
 SOLVSolventum Corp. COM SHS | 0.02% | 0.02% | 0.02% |
 AESAES Corp. (The) | 0.16% | 0.02% | 0.02% |
 BENFranklin Resources Inc. COM | 0.07% | 0.02% | 0.02% |
 SWKSSkyworks Solutions, Inc. COM | 0.17% | 0.02% | 0.02% |
Frequently Asked Questions
How much do DFAS and SPY overlap?
DFAS and SPY overlap by 0.7% of portfolio weight. They share 43 holdings (DFAS holds 2121 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both DFAS and SPY?
The two portfolios are 0.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of DFAS and SPY?
The largest positions held by both funds are MRNA, VTRS, CF, ZBRA and SWK. Together the top 10 shared positions account for 36% of the total overlap.
What does DFAS own that SPY doesn't?
2078 positions (95.5% of DFAS) are unique to DFAS, led by AMKR, TTMI and AEIS. In the other direction, 461 positions (99.2% of SPY) are unique to SPY.