MGV vs SPY: Holdings Overlap
MGVVanguard Mega Cap Value Index Fund
Vanguard · 120 holdings · $13.6B · 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 (MGV: 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 MGV and SPY?
Vanguard Mega Cap Value Index Fund (MGV, by Vanguard) holds 120 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 117 holdings in common, and by portfolio weight the two funds are 33.0% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 33.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 117MGV holds 120 · SPY holds 504
- Weight in Shared Holdings
- MGV 95%·SPY 33%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 MGV
3 of 120 positions (4.7% of the fund) are not held by SPY.
Sector Breakdown
| Sector | MGV | SPY |
|---|---|---|
| Information Technology | 18.0% | 37.6% |
| Financials | 21.6% | 12.3% |
| Health Care | 15.9% | 8.9% |
| Industrials | 13.6% | 8.8% |
| Consumer Staples | 11.0% | 4.5% |
| Other Sectors | 18.3% | 27.8% |
| Unclassified | 1.1% | 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 (1% of MGV, 0% of SPY).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| MGV | +1.6% | +19.3% | +30.6% | +18.7% | +13.1% | +13.0% | 1.83% |
| 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 MGV vs SPY →
Shared Holdings(117)
The top 10 shared positions account for 29% of the overlap, led by MU, BRK-B and JPM.
 MUMicron Technology Inc. COM | 5.26% | 1.50% | 1.50% |
|---|---|---|---|
 BRK-BBerkshire Hathaway, Inc., Class B | 3.15% | 1.45% | 1.45% |
 JPMJPMorgan Chase & Co. COM | 3.64% | 1.44% | 1.44% |
 JNJJohnson & Johnson COM | 2.61% | 0.93% | 0.93% |
 WMTWalmart Inc COM | 2.44% | 0.74% | 0.74% |
 CSCOCisco Systems, Inc. COM | 2.06% | 0.72% | 0.72% |
 INTCIntel Corporation COM | 2.20% | 0.71% | 0.71% |
 ABBVAbbVie Inc. COM | 1.85% | 0.65% | 0.65% |
 COSTCostco Wholesale Corporation COM | 2.04% | 0.63% | 0.63% |
 AMATApplied Materials Inc. COM | 1.72% | 0.63% | 0.63% |
 BACBank of America Corp. COM | 1.60% | 0.62% | 0.62% |
 CATCaterpillar Inc COM | 1.96% | 0.59% | 0.59% |
 GEGeneral Electric Co. | 1.55% | 0.59% | 0.59% |
 UNHUnitedHealth Group Inc. COM | 1.66% | 0.55% | 0.55% |
 CVXChevron Corp. COM | 1.66% | 0.53% | 0.53% |
 HDHome Depot, Inc. (The) | 1.52% | 0.52% | 0.52% |
 PGThe Procter & Gamble Co. COM | 1.60% | 0.52% | 0.52% |
 KOCoca-Cola Co (The) COM | 1.31% | 0.51% | 0.51% |
 MRKMerck & Co., Inc COM | 1.41% | 0.48% | 0.48% |
 GSGoldman Sachs Group, Inc. (The) | 1.39% | 0.46% | 0.46% |
 RTXRTX Corp. COM | 1.16% | 0.45% | 0.45% |
 PMPhilip Morris International Inc. COM | 1.33% | 0.44% | 0.44% |
 WFCWells Fargo & Co. COM | 1.15% | 0.40% | 0.40% |
 MSMorgan Stanley COM NEW | 1.19% | 0.39% | 0.39% |
 TXNTexas Instruments Inc. COM | 1.33% | 0.38% | 0.38% |
Frequently Asked Questions
How much do MGV and SPY overlap?
MGV and SPY overlap by 33.0% of portfolio weight. They share 117 holdings (MGV holds 120 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both MGV and SPY?
The two portfolios are 33.0% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of MGV and SPY?
The largest positions held by both funds are MU, BRK-B, JPM, JNJ and WMT. Together the top 10 shared positions account for 29% of the total overlap.
What does MGV own that SPY doesn't?
3 positions (4.7% of MGV) are unique to MGV, led by XOM, BRK-A and HON. In the other direction, 387 positions (66.9% of SPY) are unique to SPY.