MDYG vs PHO: Holdings Overlap
MDYGState Street® SPDR® S&P 400™ Mid Cap Growth ETF
State Street (SPDR) · 245 holdings · $2.9B · as of 2026-08-06
PHOInvesco Water Resources ETF
Invesco · 36 holdings · $2.1B · as of 2026-04-30
Holdings snapshots are 98 days apart (MDYG: 2026-08-06, PHO: 2026-04-30). 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 MDYG and PHO?
State Street® SPDR® S&P 400™ Mid Cap Growth ETF (MDYG, by State Street (SPDR)) holds 245 positions; Invesco Water Resources ETF (PHO, by Invesco) holds 36. They have 7 holdings in common, and by portfolio weight the two funds are 2.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 7MDYG holds 245 · PHO holds 36
- Weight in Shared Holdings
- MDYG 3%·PHO 23%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 MDYG
238 of 245 positions (97.2% of the fund) are not held by PHO. Showing the top 30 by weight.
Sector Breakdown
| Sector | MDYG | PHO |
|---|---|---|
| Industrials | 29.8% | 55.4% |
| Information Technology | 20.2% | 13.0% |
| Health Care | 15.5% | 8.2% |
| Utilities | 2.0% | 12.8% |
| Consumer Discretionary | 9.0% | 0.0% |
| Other Sectors | 23.3% | 8.1% |
| Unclassified | 0.0% | 2.5% |
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 (0% of MDYG, 2% of PHO).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| MDYG | +3.3% | +21.6% | +28.0% | +16.0% | +8.5% | +11.3% | 0.56% |
| PHO | +5.7% | +4.5% | +3.2% | +8.8% | +5.6% | +12.2% | 0.55% |
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 MDYG vs PHO →
Shared Holdings(7)
The top 7 shared positions account for 100% of the overlap, led by MLI, WTS and TTEK.
 MLIMueller Industries Inc. COM | 0.59% | 4.37% | 0.59% |
|---|---|---|---|
 WTSWatts Water Technologies, Inc., Class A | 0.55% | 1.92% | 0.55% |
 TTEKTetra Tech Inc COM | 0.48% | 3.21% | 0.48% |
 WMSAdvanced Drainage System Inc COM | 0.32% | 3.25% | 0.32% |
 VMIValmont Industries, Inc. COM | 0.31% | 2.58% | 0.31% |
 ACMAECOM | 0.23% | 3.63% | 0.23% |
 CNMCore & Main, Inc., Class A | 0.20% | 3.93% | 0.20% |
Frequently Asked Questions
How much do MDYG and PHO overlap?
MDYG and PHO overlap by 2.7% of portfolio weight. They share 7 holdings (MDYG holds 245 positions and PHO holds 36), based on each fund's latest SEC-reported holdings.
Is it redundant to own both MDYG and PHO?
The two portfolios are 2.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of MDYG and PHO?
The largest positions held by both funds are MLI, WTS, TTEK, WMS and VMI. Together the top 7 shared positions account for 100% of the total overlap.
What does MDYG own that PHO doesn't?
238 positions (97.2% of MDYG) are unique to MDYG, led by ATI, TWLO and FTI. In the other direction, 29 positions (77.1% of PHO) are unique to PHO.