VBK vs SPMD: Holdings Overlap
VBKVanguard Small-cap Growth Index Fund
Vanguard · 551 holdings · $24.3B · as of 2026-03-31
SPMDState Street® SPDR® Portfolio S&P 400™ Mid Cap ETF
State Street (SPDR) · 399 holdings · $18.5B · as of 2026-08-06
Holdings snapshots are 128 days apart (VBK: 2026-03-31, SPMD: 2026-08-06). 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 VBK and SPMD?
Vanguard Small-cap Growth Index Fund (VBK, by Vanguard) holds 551 positions; State Street® SPDR® Portfolio S&P 400™ Mid Cap ETF (SPMD, by State Street (SPDR)) holds 399. They have 160 holdings in common, and by portfolio weight the two funds are 39.8% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 39.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 160VBK holds 551 · SPMD holds 399
- Weight in Shared Holdings
- VBK 44%·SPMD 48%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 VBK
391 of 551 positions (55.6% of the fund) are not held by SPMD. Showing the top 30 by weight.
Sector Breakdown
| Sector | VBK | SPMD |
|---|---|---|
| Industrials | 24.6% | 26.0% |
| Information Technology | 21.6% | 15.7% |
| Health Care | 16.1% | 10.3% |
| Financials | 6.1% | 16.1% |
| Consumer Discretionary | 9.9% | 11.7% |
| Other Sectors | 20.6% | 25.8% |
| Unclassified | 0.9% | 0.0% |
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 (1% of VBK, 0% of SPMD).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VBK | +1.8% | +19.6% | +29.4% | +16.6% | +5.3% | +11.4% | 0.42% |
| SPMD | +3.1% | +18.5% | +26.0% | +14.6% | +9.1% | +11.3% | 1.19% |
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 VBK vs SPMD →
Shared Holdings(160)
The top 10 shared positions account for 16% of the overlap, led by FTI, CW and ATI.
 FTITechnipFMC PLC USD1 | 0.92% | 0.76% | 0.76% |
|---|---|---|---|
 CWCurtiss-Wright Corporation | 0.84% | 0.73% | 0.73% |
 ATIATI Inc COM | 0.66% | 0.84% | 0.66% |
 NVTNVent Electric PLC COM USD0.01 | 0.64% | 0.73% | 0.64% |
 TWLOTwilio, Inc., Class A | 0.64% | 0.81% | 0.64% |
 CRSCarpenter Technology Corporation COM | 0.62% | 0.76% | 0.62% |
 PEverpure, Inc., Class A | 0.62% | 0.76% | 0.62% |
 WWDWoodward Inc. COM | 0.71% | 0.60% | 0.60% |
 ENTGEntegris Inc COM | 0.59% | 0.60% | 0.59% |
 FNFabrinet COM USD0.01 | 0.62% | 0.54% | 0.54% |
 MTSIMACOM Technology Solutions Holdings Inc. COM | 0.50% | 0.54% | 0.50% |
 RBCRBC Bearings Incorporated | 0.57% | 0.49% | 0.49% |
 RGLDRoyal Gold, Inc. COM | 0.72% | 0.49% | 0.49% |
 RBARB Global Inc COM | 0.59% | 0.47% | 0.47% |
 OKTAOkta Inc. Class A | 0.44% | 0.66% | 0.44% |
 NBIXNeurocrine Biosciences Inc COM | 0.44% | 0.44% | 0.44% |
 TOSTToast, Inc., Class A | 0.44% | 0.45% | 0.44% |
 MTZMastec, Inc. COM | 0.68% | 0.44% | 0.44% |
 ROIVRoivant Sciences Ltd SHS | 0.43% | 0.44% | 0.43% |
 WSOWatsco Inc COM | 0.42% | 0.63% | 0.42% |
 LSCCLattice Semiconductor Corporation COM | 0.42% | 0.48% | 0.42% |
 TLNTalen Energy Corporation COM | 0.49% | 0.42% | 0.42% |
 FIVEFive Below Inc COM | 0.42% | 0.69% | 0.42% |
 CLHClean Harbors, Inc. COM | 0.46% | 0.42% | 0.42% |
 LECOLincoln Electric Holdings Inc. COM | 0.46% | 0.42% | 0.42% |
Frequently Asked Questions
How much do VBK and SPMD overlap?
VBK and SPMD overlap by 39.8% of portfolio weight. They share 160 holdings (VBK holds 551 positions and SPMD holds 399), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VBK and SPMD?
The two portfolios are 39.8% 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 VBK and SPMD?
The largest positions held by both funds are FTI, CW, ATI, NVT and TWLO. Together the top 10 shared positions account for 16% of the total overlap.
What does VBK own that SPMD doesn't?
391 positions (55.6% of VBK) are unique to VBK, led by CIEN, CASY and NTRA. In the other direction, 239 positions (57.8% of SPMD) are unique to SPMD.