SPY vs TCAF: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
TCAFT. Rowe Price Capital Appreciation Equity ETF
T. Rowe Price · 92 holdings · $8.3B · as of 2026-03-31
Holdings snapshots are 128 days apart (SPY: 2026-08-06, TCAF: 2026-03-31). 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 TCAF?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; T. Rowe Price Capital Appreciation Equity ETF (TCAF, by T. Rowe Price) holds 92. They have 66 holdings in common, and by portfolio weight the two funds are 42.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 42.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 66SPY holds 504 · TCAF holds 92
- Weight in Shared Holdings
- SPY 50%·TCAF 87%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
438 of 504 positions (50.1% of the fund) are not held by TCAF. Showing the top 30 by weight.
Only in TCAF
26 of 92 positions (13.0% of the fund) are not held by SPY.
Sector Breakdown
| Sector | SPY | TCAF |
|---|---|---|
| Information Technology | 37.6% | 30.5% |
| Health Care | 8.9% | 17.6% |
| Financials | 12.3% | 7.1% |
| Consumer Discretionary | 9.3% | 12.1% |
| Utilities | 2.0% | 10.2% |
| Other Sectors | 29.8% | 19.1% |
| Unclassified | 0.0% | 3.3% |
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 SPY, 3% of TCAF).
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% |
| TCAF | +3.1% | +12.1% | +18.5% | +18.6% | — | — | 0.45% |
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 TCAF →
Shared Holdings(66)
The top 10 shared positions account for 78% of the overlap, led by AAPL, MSFT and NVDA.
 AAPLApple Inc. COM | 6.92% | 5.95% | 5.95% |
|---|---|---|---|
 MSFTMicrosoft Corp. COM | 5.60% | 7.12% | 5.60% |
 NVDANVIDIA Corp. COM | 8.00% | 5.34% | 5.34% |
 AMZNAmazon.com, Inc. COM | 4.02% | 6.40% | 4.02% |
 GOOGLAlphabet Inc. CAP STK CL A | 3.16% | 4.05% | 3.16% |
 AVGOBroadcom Inc COM | 3.00% | 3.08% | 3.00% |
 METAMeta Platforms, Inc., Class A | 1.95% | 3.93% | 1.95% |
 JPMJPMorgan Chase & Co. COM | 1.44% | 1.67% | 1.44% |
 LLYEli Lilly & Co. COM | 1.42% | 1.44% | 1.42% |
 AMDAdvanced Micro Devices Inc. COM | 1.20% | 2.22% | 1.20% |
 VVisa, Inc., Class A | 0.93% | 1.43% | 0.93% |
 MAMasterCard Incorporated CL A | 0.70% | 1.43% | 0.70% |
 MUMicron Technology Inc. COM | 1.50% | 0.70% | 0.70% |
 GEGeneral Electric Co. | 0.59% | 0.86% | 0.59% |
 UNHUnitedHealth Group Inc. COM | 0.55% | 2.03% | 0.55% |
 PMPhilip Morris International Inc. COM | 0.44% | 0.48% | 0.44% |
 KLACKLA Corp. COM NEW | 0.38% | 0.56% | 0.38% |
 TMOThermo Fisher Scientific Inc COM | 0.33% | 0.83% | 0.33% |
 CVXChevron Corp. COM | 0.53% | 0.32% | 0.32% |
 ABTAbbott Laboratories COM | 0.28% | 0.65% | 0.28% |
 ANETArista Networks Inc COM SHS | 0.30% | 0.28% | 0.28% |
 BLKBlackrock Inc. COM | 0.25% | 0.26% | 0.25% |
 GILDGilead Sciences Inc. COM | 0.24% | 0.35% | 0.24% |
 BKNGBooking Holdings Inc COM | 0.24% | 0.35% | 0.24% |
 COPConocoPhillips COM | 0.21% | 0.35% | 0.21% |
Frequently Asked Questions
How much do SPY and TCAF overlap?
SPY and TCAF overlap by 42.6% of portfolio weight. They share 66 holdings (SPY holds 504 positions and TCAF holds 92), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and TCAF?
The two portfolios are 42.6% 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 SPY and TCAF?
The largest positions held by both funds are AAPL, MSFT, NVDA, AMZN and GOOGL. Together the top 10 shared positions account for 78% of the total overlap.
What does SPY own that TCAF doesn't?
438 positions (50.1% of SPY) are unique to SPY, led by BRK-B, TSLA and XOM. In the other direction, 26 positions (13.0% of TCAF) are unique to TCAF.