GSUS vs SPY: Holdings Overlap
GSUSGoldman Sachs MarketBeta U.S. Equity ETF
Goldman Sachs · 413 holdings · $3.2B · 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 (GSUS: 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 GSUS and SPY?
Goldman Sachs MarketBeta U.S. Equity ETF (GSUS, by Goldman Sachs) holds 413 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 380 holdings in common, and by portfolio weight the two funds are 92.1% identical. In practical terms the pair is essentially interchangeable, so holding both adds little diversification.
- Overlap by Weight
- 92.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 380GSUS holds 413 · SPY holds 504
- Weight in Shared Holdings
- GSUS 97%·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 GSUS
33 of 413 positions (2.6% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | GSUS | SPY |
|---|---|---|
| Information Technology | 38.5% | 37.6% |
| Financials | 11.0% | 12.3% |
| Communication Services | 11.1% | 9.7% |
| Consumer Discretionary | 10.1% | 9.3% |
| Health Care | 8.4% | 8.9% |
| Other Sectors | 20.7% | 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 |
|---|---|---|---|---|---|---|---|
| GSUS | +3.4% | +13.8% | +23.5% | +21.6% | +13.0% | — | 0.96% |
| 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 GSUS vs SPY →
Shared Holdings(380)
The top 10 shared positions account for 41% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 7.72% | 8.00% | 7.72% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.98% | 6.92% | 6.92% |
 MSFTMicrosoft Corp. COM | 5.16% | 5.60% | 5.16% |
 AMZNAmazon.com, Inc. COM | 4.06% | 4.02% | 4.02% |
 GOOGLAlphabet Inc. CAP STK CL A | 3.46% | 3.16% | 3.16% |
 AVGOBroadcom Inc COM | 3.25% | 3.00% | 3.00% |
 GOOGAlphabet Inc. CAP STK CL C | 2.98% | 2.54% | 2.54% |
 METAMeta Platforms, Inc., Class A | 2.16% | 1.95% | 1.95% |
 MUMicron Technology Inc. COM | 1.71% | 1.50% | 1.50% |
 LLYEli Lilly & Co. COM | 1.46% | 1.42% | 1.42% |
 TSLATesla Inc COM | 2.28% | 1.36% | 1.36% |
 JPMJPMorgan Chase & Co. COM | 1.26% | 1.44% | 1.26% |
 AMDAdvanced Micro Devices Inc. COM | 1.31% | 1.20% | 1.20% |
 BRK-BBerkshire Hathaway, Inc., Class B | 1.03% | 1.45% | 1.03% |
 VVisa, Inc., Class A | 0.86% | 0.93% | 0.86% |
 JNJJohnson & Johnson COM | 0.85% | 0.93% | 0.85% |
 WMTWalmart Inc COM | 0.79% | 0.74% | 0.74% |
 CSCOCisco Systems, Inc. COM | 0.75% | 0.72% | 0.72% |
 INTCIntel Corporation COM | 0.79% | 0.71% | 0.71% |
 COSTCostco Wholesale Corporation COM | 0.66% | 0.63% | 0.63% |
 MAMasterCard Incorporated CL A | 0.61% | 0.70% | 0.61% |
 ABBVAbbVie Inc. COM | 0.60% | 0.65% | 0.60% |
 CATCaterpillar Inc COM | 0.64% | 0.59% | 0.59% |
 LRCXLam Research Corporation COM NEW | 0.62% | 0.58% | 0.58% |
 AMATApplied Materials Inc. COM | 0.56% | 0.63% | 0.56% |
Showing the top 250 of 380 shared holdings by overlap weight.
Frequently Asked Questions
How much do GSUS and SPY overlap?
GSUS and SPY overlap by 92.1% of portfolio weight. They share 380 holdings (GSUS holds 413 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both GSUS and SPY?
The two portfolios are 92.1% identical by weight. Owning both is largely redundant: they are close to the same portfolio, so a second position mostly duplicates the first.
What are the biggest shared holdings of GSUS and SPY?
The largest positions held by both funds are NVDA, AAPL, MSFT, AMZN and GOOGL. Together the top 10 shared positions account for 41% of the total overlap.
What does GSUS own that SPY doesn't?
33 positions (2.6% of GSUS) are unique to GSUS, led by XOM, HON and SNOW. In the other direction, 124 positions (4.0% of SPY) are unique to SPY.