ETF Holdings Overlap Calculator
MVPCompare two ETFs by weighted holdings overlap — how much of each portfolio is the same investment by weight, not just how many tickers appear on both lists. Useful before you buy SCHD vs VOO, JEPI vs JEPQ, or any pair that might duplicate risk.
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How weighted overlap works
For every shared holding we take the smaller of the two weights and sum those values. A 40% overlap means roughly two-fifths of each fund (by weight) sits in the same names at similar concentration — counting shared tickers alone can overstate diversification when one fund is 8% Apple and the other is 0.5%.
Use the filters to isolate shared names, names only in fund A or B, and sector or industry tilts. Pair this with the dividend compare tool for yield and growth, or the NAV erosion calculator when one fund is a high-yield covered-call product.
How this tool works
Weighted overlap counts how much of two funds is the same investment. For every stock both funds hold, the calculator takes the smaller of the two position weights and adds them up, so 300 shared tickers held in tiny positions can still mean a low overlap, while a handful of shared mega-caps can mean a high one.
Frequently asked questions
What does ETF overlap mean?
Overlap is the share of two funds' portfolios invested in the same stocks, measured by weight. If both funds hold Apple, the overlap on Apple is the smaller of the two weights; summed across every shared holding, that is the weighted overlap. Counting shared tickers alone overstates it, because a stock at 8% of one fund and 0.5% of the other is barely a shared bet.
How much ETF overlap is too much?
There is no official line. Above roughly half of the portfolio by weight, two funds move almost together, so holding both adds little diversification and pays two expense ratios for one exposure. Below a fifth they behave like distinct holdings. Where a pair lands depends on the indexes they follow: two S&P 500 funds overlap almost completely, while an S&P 500 fund and a dividend screen such as SCHD share far less.
Does owning SCHD and VOO count as diversification?
Partly. SCHD screens for dividend quality and holds about 100 stocks; VOO holds the whole S&P 500 by market weight. They share many large names but weight them very differently, so the weighted overlap is modest. The calculator shows the current figure and lists what each fund owns that the other does not.
Where do the holdings come from and how current are they?
Holdings and weights come from each fund's latest reported portfolio in our data. Weights move with prices and rebalances, so the overlap is a snapshot of today rather than a fixed property of the pair; check it again before a large purchase.