SPY vs GSUS: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
GSUSGoldman Sachs MarketBeta U.S. Equity ETF
Goldman Sachs · 413 holdings · $3.2B · as of 2026-05-31
Holdings snapshots are 67 days apart (SPY: 2026-08-06, GSUS: 2026-05-31). 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 SPY and GSUS?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; Goldman Sachs MarketBeta U.S. Equity ETF (GSUS, by Goldman Sachs) holds 413. 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
- 380SPY holds 504 · GSUS holds 413
- Weight in Shared Holdings
- SPY 96%·GSUS 97%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 SPY
124 of 504 positions (4.0% of the fund) are not held by GSUS. Showing the top 30 by weight.
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 | SPY | GSUS |
|---|---|---|
| Information Technology | 37.6% | 38.5% |
| Financials | 12.3% | 11.0% |
| Communication Services | 9.7% | 11.1% |
| Consumer Discretionary | 9.3% | 10.1% |
| Health Care | 8.9% | 8.4% |
| Other Sectors | 22.1% | 20.7% |
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 |
|---|---|---|---|---|---|---|---|
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
| GSUS | +3.4% | +13.8% | +23.5% | +21.6% | +13.0% | — | 0.96% |
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 SPY vs GSUS →
Shared Holdings(380)
The top 10 shared positions account for 41% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 8.00% | 7.72% | 7.72% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.92% | 6.98% | 6.92% |
 MSFTMicrosoft Corp. COM | 5.60% | 5.16% | 5.16% |
 AMZNAmazon.com, Inc. COM | 4.02% | 4.06% | 4.02% |
 GOOGLAlphabet Inc. CAP STK CL A | 3.16% | 3.46% | 3.16% |
 AVGOBroadcom Inc COM | 3.00% | 3.25% | 3.00% |
 GOOGAlphabet Inc. CAP STK CL C | 2.54% | 2.98% | 2.54% |
 METAMeta Platforms, Inc., Class A | 1.95% | 2.16% | 1.95% |
 MUMicron Technology Inc. COM | 1.50% | 1.71% | 1.50% |
 LLYEli Lilly & Co. COM | 1.42% | 1.46% | 1.42% |
 TSLATesla Inc COM | 1.36% | 2.28% | 1.36% |
 JPMJPMorgan Chase & Co. COM | 1.44% | 1.26% | 1.26% |
 AMDAdvanced Micro Devices Inc. COM | 1.20% | 1.31% | 1.20% |
 BRK-BBerkshire Hathaway, Inc., Class B | 1.45% | 1.03% | 1.03% |
 VVisa, Inc., Class A | 0.93% | 0.86% | 0.86% |
 JNJJohnson & Johnson COM | 0.93% | 0.85% | 0.85% |
 WMTWalmart Inc COM | 0.74% | 0.79% | 0.74% |
 CSCOCisco Systems, Inc. COM | 0.72% | 0.75% | 0.72% |
 INTCIntel Corporation COM | 0.71% | 0.79% | 0.71% |
 COSTCostco Wholesale Corporation COM | 0.63% | 0.66% | 0.63% |
 MAMasterCard Incorporated CL A | 0.70% | 0.61% | 0.61% |
 ABBVAbbVie Inc. COM | 0.65% | 0.60% | 0.60% |
 CATCaterpillar Inc COM | 0.59% | 0.64% | 0.59% |
 LRCXLam Research Corporation COM NEW | 0.58% | 0.62% | 0.58% |
 AMATApplied Materials Inc. COM | 0.63% | 0.56% | 0.56% |
Showing the top 250 of 380 shared holdings by overlap weight.
Frequently Asked Questions
How much do SPY and GSUS overlap?
SPY and GSUS overlap by 92.1% of portfolio weight. They share 380 holdings (SPY holds 504 positions and GSUS holds 413), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and GSUS?
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 SPY and GSUS?
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 SPY own that GSUS doesn't?
124 positions (4.0% of SPY) are unique to SPY, led by XOM, HON and HONA. In the other direction, 33 positions (2.6% of GSUS) are unique to GSUS.