ETF overlap tool
Compare two ETFs to see how much of your money ends up in the same stocks. Find the holdings they share, how their sectors line up and what each one adds that the other doesn't.
How ETF overlap is measured
Two broad index funds can look different on paper and still put most of your money into the same companies. The tool loads each fund's latest holdings, matches the same company across funds by its ISIN (so NVDA and NVDA.L count as one stock) and measures overlap in two ways.
Overlap by weight
For every stock both funds hold, take the smaller of its two weights, then add them up. If NVIDIA is 8.4% of one fund and 8.0% of the other, it contributes 8.0%. The total is the share of each fund invested in identical positions, and it's the number that matters for diversification.
Overlap by count
The share of each fund's holdings that also appear in the other. This is often lopsided: nearly every stock in a Nasdaq-100 fund is in an S&P 500 fund, but only a small share of the S&P 500's stocks are in the Nasdaq-100.
Reading the result
- Above 70%: the funds are close to interchangeable. Holding both adds cost but little diversification.
- 40–70%: a shared core with a meaningful tilt, such as more tech or more value stocks.
- Below 20%: the funds cover genuinely different parts of the market.
Frequently asked questions
What is a good ETF overlap percentage?
There's no single right number. If you hold two funds to diversify, aim for overlap by weight below about 30%. Above 70%, the funds behave almost the same, so holding both mostly adds fees.
Do VOO and QQQ overlap?
Heavily. Most of the Nasdaq-100's largest companies are also the S&P 500's largest, so a big share of QQQ's weight sits in stocks VOO also holds. Compare them above for the current figure.
Does this work for non-US ETFs?
Yes. Use the ticker with its exchange suffix, such as VAS.AX for the ASX, VUSA.L for London or XEQT.TO for Toronto. Funds that hold other funds are compared on the stocks they hold underneath where that data is available.
How current is the holdings data?
We check for new holdings every day, but each fund publishes on its own schedule. Many issuers publish daily; Vanguard publishes monthly, a few weeks after month end, so its funds can show holdings that are several weeks old.
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