SPHQ vs SPY: Holdings Overlap
SPHQInvesco S&P 500 Quality ETF
Invesco · 99 holdings · $20.0B · as of 2026-04-30
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (SPHQ: 2026-04-30, 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 SPHQ and SPY?
Invesco S&P 500 Quality ETF (SPHQ, by Invesco) holds 99 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 97 holdings in common, and by portfolio weight the two funds are 18.6% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 18.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 97SPHQ holds 99 · SPY holds 504
- Weight in Shared Holdings
- SPHQ 99%·SPY 21%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 SPHQ
2 of 99 positions (0.5% of the fund) are not held by SPY.
Sector Breakdown
| Sector | SPHQ | SPY |
|---|---|---|
| Information Technology | 27.6% | 37.6% |
| Industrials | 24.5% | 8.8% |
| Consumer Staples | 15.3% | 4.5% |
| Financials | 13.4% | 12.3% |
| Communication Services | 2.0% | 9.7% |
| Other Sectors | 17.0% | 27.0% |
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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SPHQ | -0.8% | +15.3% | +21.9% | +19.9% | +12.7% | +14.6% | 1.09% |
| 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 SPHQ vs SPY →
Shared Holdings(97)
The top 10 shared positions account for 56% of the overlap, led by AAPL, V and CSCO.
 AAPLApple Inc. COM | 4.50% | 6.92% | 4.50% |
|---|---|---|---|
 VVisa, Inc., Class A | 4.68% | 0.93% | 0.93% |
 CSCOCisco Systems, Inc. COM | 3.54% | 0.72% | 0.72% |
 MAMasterCard Incorporated CL A | 4.32% | 0.70% | 0.70% |
 COSTCostco Wholesale Corporation COM | 4.81% | 0.63% | 0.63% |
 AMATApplied Materials Inc. COM | 2.79% | 0.63% | 0.63% |
 CATCaterpillar Inc COM | 3.78% | 0.59% | 0.59% |
 GEGeneral Electric Co. | 4.16% | 0.59% | 0.59% |
 LRCXLam Research Corporation COM NEW | 4.09% | 0.58% | 0.58% |
 PGThe Procter & Gamble Co. COM | 3.46% | 0.52% | 0.52% |
 KOCoca-Cola Co (The) COM | 3.33% | 0.51% | 0.51% |
 MRKMerck & Co., Inc COM | 2.86% | 0.48% | 0.48% |
 GEVGE Vernova Inc. COM | 3.15% | 0.41% | 0.41% |
 KLACKLA Corp. COM NEW | 3.27% | 0.38% | 0.38% |
 TJXThe TJX Companies Inc. COM | 1.79% | 0.27% | 0.27% |
 ETNEaton Corporation PLC COM USD0.01 | 1.64% | 0.26% | 0.26% |
 QCOMQUALCOMM Inc. COM | 2.03% | 0.25% | 0.25% |
 GILDGilead Sciences Inc. COM | 2.27% | 0.24% | 0.24% |
 WDCWestern Digital Corp. COM | 2.15% | 0.23% | 0.23% |
 PHParker-Hannifin Corp. COM | 1.08% | 0.20% | 0.20% |
 PGRThe Progressive Corporation COM | 1.40% | 0.19% | 0.19% |
 NEMNewmont Corporation COM | 1.22% | 0.17% | 0.17% |
 TTTrane Technologies PLC COM USD1 | 1.29% | 0.16% | 0.16% |
 ADBEAdobe Inc COM | 1.44% | 0.16% | 0.16% |
 ACNAccenture PLC CLS'A'USD0.0000225 | 1.04% | 0.16% | 0.16% |
Frequently Asked Questions
How much do SPHQ and SPY overlap?
SPHQ and SPY overlap by 18.6% of portfolio weight. They share 97 holdings (SPHQ holds 99 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPHQ and SPY?
The two portfolios are 18.6% 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 SPHQ and SPY?
The largest positions held by both funds are AAPL, V, CSCO, MA and COST. Together the top 10 shared positions account for 56% of the total overlap.
What does SPHQ own that SPY doesn't?
2 positions (0.5% of SPHQ) are unique to SPHQ, led by EA and POOL. In the other direction, 407 positions (78.9% of SPY) are unique to SPY.