SPY vs VO: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Vanguard · 289 holdings · $109.2B · as of 2026-03-31
Holdings snapshots are 128 days apart (SPY: 2026-08-06, VO: 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 VO?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; Vanguard Mid-cap Index Fund (VO, by Vanguard) holds 289. They have 252 holdings in common, and by portfolio weight the two funds are 16.1% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 16.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 252SPY holds 504 · VO holds 289
- Weight in Shared Holdings
- SPY 16%·VO 91%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
252 of 504 positions (83.9% of the fund) are not held by VO. Showing the top 30 by weight.
Only in VO
37 of 289 positions (8.4% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | VO |
|---|---|---|
| Information Technology | 37.6% | 14.2% |
| Industrials | 8.8% | 18.4% |
| Financials | 12.3% | 13.8% |
| Communication Services | 9.7% | 3.1% |
| Consumer Discretionary | 9.3% | 9.3% |
| Other Sectors | 22.3% | 40.9% |
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% |
| VO | +2.6% | +14.8% | +18.0% | +15.7% | +8.0% | +11.6% | 1.29% |
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 VO →
Shared Holdings(252)
The top 10 shared positions account for 12% of the overlap, led by STX, MRVL and WDC.
 STXSeagate Technology Holdings PLC ORD SHS | 0.29% | 0.93% | 0.29% |
|---|---|---|---|
 MRVLMarvell Technology Inc COM | 0.28% | 0.47% | 0.28% |
 WDCWestern Digital Corp. COM | 0.23% | 1.00% | 0.23% |
 GLWCorning Incorporated COM | 0.19% | 0.57% | 0.19% |
 HWMHowmet Aerospace Inc COM | 0.17% | 1.01% | 0.17% |
 NEMNewmont Corporation COM | 0.17% | 0.64% | 0.17% |
 VRTVertiv Holdings Co., Class A | 0.16% | 1.03% | 0.16% |
 PWRQuanta Services, Inc. COM | 0.15% | 0.89% | 0.15% |
 FTNTFortinet Inc COM | 0.15% | 0.26% | 0.15% |
 JCIJohnson Controls International PLC COM USD1.00 | 0.14% | 0.44% | 0.14% |
 VLOValero Energy Corp. COM | 0.14% | 0.80% | 0.14% |
 CMICummins Inc. COM | 0.13% | 0.81% | 0.13% |
 WMBWilliams Companies Inc. (The) COM | 0.13% | 0.48% | 0.13% |
 MPCMarathon Petroleum Corp. COM | 0.13% | 0.78% | 0.13% |
 CEGConstellation Energy Corp. COM | 0.13% | 0.94% | 0.13% |
 PSXPhillips 66 COM | 0.12% | 0.80% | 0.12% |
 ROSTRoss Stores Inc COM | 0.12% | 0.76% | 0.12% |
 DASHDoorDash, Inc., Class A | 0.12% | 0.57% | 0.12% |
 RCLRoyal Caribbean Group COM USD0.01 | 0.12% | 0.73% | 0.12% |
 MSIMotorola Solutions Inc COM NEW | 0.12% | 0.78% | 0.12% |
 GMGeneral Motors Company COM | 0.12% | 0.73% | 0.12% |
 SLBSLB Ltd. COM USD0.01 | 0.12% | 0.84% | 0.12% |
 DDOGDatadog, Inc., Class A | 0.11% | 0.42% | 0.11% |
 HLTHilton Worldwide Holdings Inc COM | 0.11% | 0.38% | 0.11% |
 URIUnited Rentals, Inc. COM | 0.11% | 0.50% | 0.11% |
Showing the top 250 of 252 shared holdings by overlap weight.
Frequently Asked Questions
How much do SPY and VO overlap?
SPY and VO overlap by 16.1% of portfolio weight. They share 252 holdings (SPY holds 504 positions and VO holds 289), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and VO?
The two portfolios are 16.1% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of SPY and VO?
The largest positions held by both funds are STX, MRVL, WDC, GLW and HWM. Together the top 10 shared positions account for 12% of the total overlap.
What does SPY own that VO doesn't?
252 positions (83.9% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 37 positions (8.4% of VO) are unique to VO.