SPY vs VBR: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
VBRVanguard Small-cap Value Index Fund
Vanguard · 838 holdings · $38.3B · as of 2026-03-31
Holdings snapshots are 128 days apart (SPY: 2026-08-06, VBR: 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 VBR?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; Vanguard Small-cap Value Index Fund (VBR, by Vanguard) holds 838. They have 90 holdings in common, and by portfolio weight the two funds are 2.2% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 90SPY holds 504 · VBR holds 838
- Weight in Shared Holdings
- SPY 2%·VBR 27%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
414 of 504 positions (97.7% of the fund) are not held by VBR. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | VBR |
|---|---|---|
| Information Technology | 37.6% | 8.2% |
| Industrials | 8.8% | 18.8% |
| Financials | 12.3% | 18.7% |
| Consumer Discretionary | 9.3% | 10.9% |
| Communication Services | 9.7% | 2.7% |
| Other Sectors | 22.3% | 39.9% |
| Unclassified | 0.0% | 0.5% |
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 SPY, 1% of VBR).
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% |
| VBR | +3.1% | +19.2% | +28.7% | +15.4% | +10.0% | +10.8% | 1.73% |
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 VBR →
Shared Holdings(90)
The top 10 shared positions account for 22% of the overlap, led by FLEX, JBL and EME.
 FLEXFlex Ltd. COM USD0.01 | 0.07% | 0.58% | 0.07% |
|---|---|---|---|
 JBLJabil Inc COM | 0.05% | 0.65% | 0.05% |
 EMEEmcor Group Inc COM | 0.05% | 0.40% | 0.05% |
 STLDSteel Dynamics, Inc. COM | 0.05% | 0.30% | 0.05% |
 TPRTapestry Inc COM | 0.05% | 0.69% | 0.05% |
 CNCCentene Corp. COM | 0.05% | 0.19% | 0.05% |
 WSMWilliams-Sonoma Inc. COM | 0.04% | 0.53% | 0.04% |
 ATOAtmos Energy Corp. COM | 0.04% | 0.74% | 0.04% |
 QQnity Electronics Inc. COMMON STOCK | 0.04% | 0.29% | 0.04% |
 HUBBHubbell Incorporated COM | 0.04% | 0.16% | 0.04% |
 NRGNRG Energy, Inc. COM NEW | 0.04% | 0.75% | 0.04% |
 SWSmurfit WestRock plc COM USD0.001 | 0.04% | 0.50% | 0.04% |
 OMCOmnicom Group Inc COM | 0.04% | 0.57% | 0.04% |
 FFIVF5 Inc COM | 0.04% | 0.40% | 0.04% |
 EXEExpand Energy Corp. COM | 0.03% | 0.32% | 0.03% |
 DOWDow Inc COM | 0.03% | 0.36% | 0.03% |
 NINiSource Inc. COM | 0.03% | 0.27% | 0.03% |
 JBHTJ. B. Hunt Transport Services, Inc. COM | 0.03% | 0.39% | 0.03% |
 EVRGEvergy Inc COM | 0.03% | 0.22% | 0.03% |
 MRNAModerna Inc COM | 0.03% | 0.44% | 0.03% |
 VTRSViatris Inc COM | 0.03% | 0.38% | 0.03% |
 ESSEssex Property Trust, Inc. COM | 0.03% | 0.19% | 0.03% |
 GPCGenuine Parts Co COM | 0.03% | 0.18% | 0.03% |
 WYWeyerhaeuser Company COM NEW | 0.03% | 0.21% | 0.03% |
 CDWCDW Corp COM | 0.03% | 0.19% | 0.03% |
Frequently Asked Questions
How much do SPY and VBR overlap?
SPY and VBR overlap by 2.2% of portfolio weight. They share 90 holdings (SPY holds 504 positions and VBR holds 838), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and VBR?
The two portfolios are 2.2% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of SPY and VBR?
The largest positions held by both funds are FLEX, JBL, EME, STLD and TPR. Together the top 10 shared positions account for 22% of the total overlap.
What does SPY own that VBR doesn't?
414 positions (97.7% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 748 positions (72.8% of VBR) are unique to VBR.