FDN vs SPY: Holdings Overlap
FDNFirst Trust Dow Jones Internet Index Fund
First Trust · 41 holdings · $5.3B · as of 2026-03-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (FDN: 2026-03-31, 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 FDN and SPY?
First Trust Dow Jones Internet Index Fund (FDN, by First Trust) holds 41 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 23 holdings in common, and by portfolio weight the two funds are 14.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 14.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 23FDN holds 41 · SPY holds 504
- Weight in Shared Holdings
- FDN 83%·SPY 15%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 FDN
18 of 41 positions (16.5% of the fund) are not held by SPY.
Sector Breakdown
| Sector | FDN | SPY |
|---|---|---|
| Information Technology | 38.1% | 37.6% |
| Communication Services | 29.8% | 9.7% |
| Consumer Discretionary | 26.9% | 9.3% |
| Financials | 2.2% | 12.3% |
| Health Care | 1.4% | 8.9% |
| Other Sectors | 1.6% | 22.1% |
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 |
|---|---|---|---|---|---|---|---|
| FDN | +6.5% | +7.5% | +6.5% | +19.6% | +3.6% | +13.9% | — |
| 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 FDN vs SPY →
Shared Holdings(23)
The top 10 shared positions account for 95% of the overlap, led by AMZN, GOOGL and GOOG.
 AMZNAmazon.com, Inc. COM | 10.25% | 4.02% | 4.02% |
|---|---|---|---|
 GOOGLAlphabet Inc. CAP STK CL A | 5.41% | 3.16% | 3.16% |
 GOOGAlphabet Inc. CAP STK CL C | 4.33% | 2.54% | 2.54% |
 METAMeta Platforms, Inc., Class A | 9.14% | 1.95% | 1.95% |
 CSCOCisco Systems, Inc. COM | 6.78% | 0.72% | 0.72% |
 NFLXNetflix, Inc. COM | 8.98% | 0.47% | 0.47% |
 ANETArista Networks Inc COM SHS | 4.18% | 0.30% | 0.30% |
 BKNGBooking Holdings Inc COM | 4.59% | 0.24% | 0.24% |
 CRMSalesforce Inc. COM | 4.53% | 0.23% | 0.23% |
 DASHDoorDash, Inc., Class A | 2.96% | 0.12% | 0.12% |
 DDOGDatadog, Inc., Class A | 2.04% | 0.11% | 0.11% |
 ABNBAirbnb, Inc., Class A | 2.82% | 0.10% | 0.10% |
 CIENCiena Corporation COM NEW | 2.89% | 0.09% | 0.09% |
 PYPLPaypal Holdings Inc. COM | 2.20% | 0.08% | 0.08% |
 CVNACarvana Co., Class A | 2.35% | 0.07% | 0.07% |
 EBAYeBay Inc. COM | 2.17% | 0.07% | 0.07% |
 WDAYWorkday, Inc., Class A | 1.46% | 0.05% | 0.05% |
 VEEVVeeva Systems, Inc., Class A | 1.40% | 0.05% | 0.05% |
 CPRTCopart Inc COM | 1.56% | 0.04% | 0.04% |
 VRSNVerisign, Inc. COM | 1.08% | 0.04% | 0.04% |
 FFIVF5 Inc COM | 0.86% | 0.04% | 0.04% |
 AKAMAkamai Technologies, Inc. COM | 0.87% | 0.03% | 0.03% |
 GDDYGoDaddy, Inc., Class A | 0.59% | 0.02% | 0.02% |
Frequently Asked Questions
How much do FDN and SPY overlap?
FDN and SPY overlap by 14.5% of portfolio weight. They share 23 holdings (FDN holds 41 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FDN and SPY?
The two portfolios are 14.5% 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 FDN and SPY?
The largest positions held by both funds are AMZN, GOOGL, GOOG, META and CSCO. Together the top 10 shared positions account for 95% of the total overlap.
What does FDN own that SPY doesn't?
18 positions (16.5% of FDN) are unique to FDN, led by NET, SNOW and RBLX. In the other direction, 481 positions (85.4% of SPY) are unique to SPY.