FNDX vs SPY: Holdings Overlap
FNDXSchwab Fundamental U.S. Large Company ETF
Schwab · 733 holdings · $27.4B · as of 2026-05-31
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 67 days apart (FNDX: 2026-05-31, 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 FNDX and SPY?
Schwab Fundamental U.S. Large Company ETF (FNDX, by Schwab) holds 733 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 458 holdings in common, and by portfolio weight the two funds are 62.4% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 62.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 458FNDX holds 733 · SPY holds 504
- Weight in Shared Holdings
- FNDX 88%·SPY 96%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 FNDX
275 of 733 positions (11.5% of the fund) are not held by SPY. Showing the top 30 by weight.
Only in SPY
46 of 504 positions (3.9% of the fund) are not held by FNDX. Showing the top 30 by weight.
Sector Breakdown
| Sector | FNDX | SPY |
|---|---|---|
| Information Technology | 21.4% | 37.6% |
| Financials | 13.8% | 12.3% |
| Health Care | 11.8% | 8.9% |
| Communication Services | 9.9% | 9.7% |
| Industrials | 9.3% | 8.8% |
| Other Sectors | 33.5% | 22.6% |
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 |
|---|---|---|---|---|---|---|---|
| FNDX | +3.1% | +19.7% | +33.0% | +20.0% | +14.0% | +14.3% | 1.43% |
| 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 FNDX vs SPY →
Shared Holdings(458)
The top 10 shared positions account for 31% of the overlap, led by AAPL, GOOGL and MSFT.
 AAPLApple Inc. COM | 4.63% | 6.92% | 4.63% |
|---|---|---|---|
 GOOGLAlphabet Inc. CAP STK CL A | 2.38% | 3.16% | 2.38% |
 MSFTMicrosoft Corp. COM | 2.32% | 5.60% | 2.32% |
 GOOGAlphabet Inc. CAP STK CL C | 1.89% | 2.54% | 1.89% |
 AMZNAmazon.com, Inc. COM | 1.85% | 4.02% | 1.85% |
 MUMicron Technology Inc. COM | 1.59% | 1.50% | 1.50% |
 BRK-BBerkshire Hathaway, Inc., Class B | 1.41% | 1.45% | 1.41% |
 JPMJPMorgan Chase & Co. COM | 1.38% | 1.44% | 1.38% |
 METAMeta Platforms, Inc., Class A | 1.24% | 1.95% | 1.24% |
 JNJJohnson & Johnson COM | 0.96% | 0.93% | 0.93% |
 WMTWalmart Inc COM | 1.01% | 0.74% | 0.74% |
 CSCOCisco Systems, Inc. COM | 0.90% | 0.72% | 0.72% |
 INTCIntel Corporation COM | 2.57% | 0.71% | 0.71% |
 AVGOBroadcom Inc COM | 0.65% | 3.00% | 0.65% |
 BACBank of America Corp. COM | 0.87% | 0.62% | 0.62% |
 CATCaterpillar Inc COM | 0.60% | 0.59% | 0.59% |
 UNHUnitedHealth Group Inc. COM | 1.37% | 0.55% | 0.55% |
 NVDANVIDIA Corp. COM | 0.55% | 8.00% | 0.55% |
 CVXChevron Corp. COM | 1.48% | 0.53% | 0.53% |
 COSTCostco Wholesale Corporation COM | 0.53% | 0.63% | 0.53% |
 ABBVAbbVie Inc. COM | 0.53% | 0.65% | 0.53% |
 HDHome Depot, Inc. (The) | 0.52% | 0.52% | 0.52% |
 PGThe Procter & Gamble Co. COM | 0.66% | 0.52% | 0.52% |
 MRKMerck & Co., Inc COM | 0.68% | 0.48% | 0.48% |
 AMATApplied Materials Inc. COM | 0.47% | 0.63% | 0.47% |
Showing the top 250 of 458 shared holdings by overlap weight.
Frequently Asked Questions
How much do FNDX and SPY overlap?
FNDX and SPY overlap by 62.4% of portfolio weight. They share 458 holdings (FNDX holds 733 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FNDX and SPY?
The two portfolios are 62.4% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of FNDX and SPY?
The largest positions held by both funds are AAPL, GOOGL, MSFT, GOOG and AMZN. Together the top 10 shared positions account for 31% of the total overlap.
What does FNDX own that SPY doesn't?
275 positions (11.5% of FNDX) are unique to FNDX, led by XOM, HON and LUMN. In the other direction, 46 positions (3.9% of SPY) are unique to SPY.