SPY vs VFLO: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
VFLOVictoryShares Free Cash Flow ETF
VictoryShares · 50 holdings · $9.6B · as of 2026-03-31
Holdings snapshots are 128 days apart (SPY: 2026-08-06, VFLO: 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 VFLO?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; VictoryShares Free Cash Flow ETF (VFLO, by VictoryShares) holds 50. They have 39 holdings in common, and by portfolio weight the two funds are 3.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 39SPY holds 504 · VFLO holds 50
- Weight in Shared Holdings
- SPY 4%·VFLO 80%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
465 of 504 positions (96.2% of the fund) are not held by VFLO. Showing the top 30 by weight.
Only in VFLO
11 of 50 positions (19.6% of the fund) are not held by SPY.
Sector Breakdown
| Sector | SPY | VFLO |
|---|---|---|
| Information Technology | 37.6% | 30.0% |
| Consumer Discretionary | 9.3% | 17.9% |
| Health Care | 8.9% | 17.6% |
| Energy | 3.2% | 12.8% |
| Financials | 12.3% | 0.0% |
| Other Sectors | 28.6% | 21.2% |
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% |
| VFLO | +8.6% | +31.3% | +51.6% | +26.1% | — | — | 1.09% |
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 VFLO →
Shared Holdings(39)
The top 10 shared positions account for 61% of the overlap, led by MRK, SNDK and BKNG.
 MRKMerck & Co., Inc COM | 0.48% | 2.91% | 0.48% |
|---|---|---|---|
 SNDKSandisk Corporation COM | 0.28% | 2.74% | 0.28% |
 BKNGBooking Holdings Inc COM | 0.24% | 2.59% | 0.24% |
 CRMSalesforce Inc. COM | 0.23% | 3.25% | 0.23% |
 UBERUber Technologies Inc COM | 0.22% | 2.53% | 0.22% |
 DELLDell Technologies, Inc., Class C | 0.19% | 2.97% | 0.19% |
 NEMNewmont Corporation COM | 0.17% | 2.55% | 0.17% |
 ADPAutomatic Data Processing, Inc. COM | 0.16% | 1.73% | 0.16% |
 ADBEAdobe Inc COM | 0.16% | 3.08% | 0.16% |
 ACNAccenture PLC CLS'A'USD0.0000225 | 0.16% | 3.27% | 0.16% |
 GMGeneral Motors Company COM | 0.12% | 2.47% | 0.12% |
 SLBSLB Ltd. COM USD0.01 | 0.12% | 2.00% | 0.12% |
 CIThe Cigna Group COM | 0.11% | 3.29% | 0.11% |
 ABNBAirbnb, Inc., Class A | 0.10% | 1.99% | 0.10% |
 DALDelta Air Lines Inc. COM NEW | 0.09% | 2.45% | 0.09% |
 HUMHumana Inc. COM | 0.07% | 1.39% | 0.07% |
 PAYXPaychex Inc COM | 0.06% | 1.29% | 0.06% |
 NTAPNetApp Inc. COM | 0.06% | 1.78% | 0.06% |
 FANGDiamondback Energy Inc COM | 0.06% | 2.39% | 0.06% |
 EXPEExpedia Group Inc COM NEW | 0.05% | 2.70% | 0.05% |
 WDAYWorkday, Inc., Class A | 0.05% | 2.02% | 0.05% |
 VEEVVeeva Systems, Inc., Class A | 0.05% | 1.13% | 0.05% |
 EQTEQT Corporation COM | 0.05% | 1.68% | 0.05% |
 ONON Semiconductor Corp. COM | 0.05% | 1.48% | 0.05% |
 CNCCentene Corp. COM | 0.05% | 1.47% | 0.05% |
Frequently Asked Questions
How much do SPY and VFLO overlap?
SPY and VFLO overlap by 3.8% of portfolio weight. They share 39 holdings (SPY holds 504 positions and VFLO holds 50), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and VFLO?
The two portfolios are 3.8% 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 VFLO?
The largest positions held by both funds are MRK, SNDK, BKNG, CRM and UBER. Together the top 10 shared positions account for 61% of the total overlap.
What does SPY own that VFLO doesn't?
465 positions (96.2% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 11 positions (19.6% of VFLO) are unique to VFLO.