SPY vs VMBS: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
VMBSVanguard Mortgage-backed Securities Index Fund
Vanguard · 5112 holdings · $15.6B · as of 2026-05-31
Holdings snapshots are 67 days apart (SPY: 2026-08-06, VMBS: 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 VMBS?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; Vanguard Mortgage-backed Securities Index Fund (VMBS, by Vanguard) holds 5112. They have 0 holdings in common, and by portfolio weight the two funds are 0.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 0SPY holds 504 · VMBS holds 5112
- Weight in Shared Holdings
- SPY 0%·VMBS 0%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
504 of 504 positions (99.9% of the fund) are not held by VMBS. Showing the top 30 by weight.
Only in VMBS
5112 of 5112 positions (99.3% of the fund) are not held by SPY. Showing the top 30 by weight.
- Uniform Mortgage-Backed Security, TBA0.52%
- G2SF 5.5 7/260.36%
- Government National Mortgage Association0.32%
- Ginnie Mae II Pool0.31%
- FN CC27620.29%
- Government National Mortgage Association0.29%
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% |
| VMBS | -0.1% | +0.6% | +4.1% | +4.9% | +0.4% | +1.3% | 4.23% |
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 VMBS →
Shared Holdings(0)
These two funds have no holdings in common.
Frequently Asked Questions
How much do SPY and VMBS overlap?
SPY and VMBS overlap by 0.0% of portfolio weight. They share 0 holdings (SPY holds 504 positions and VMBS holds 5112), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and VMBS?
The two portfolios are 0.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What does SPY own that VMBS doesn't?
504 positions (99.9% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 5112 positions (99.3% of VMBS) are unique to VMBS.