DGRO is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. DGRO and SPY show meaningful overlap, with an estimated weighted overlap of 39.66%. They share 206 holdings in the loaded dataset, led by AVGO, AAPL, and MSFT.
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DGRO is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. DGRO and SPY show meaningful overlap, with an estimated weighted overlap of 39.66%. They share 206 holdings in the loaded dataset, led by AVGO, AAPL, and MSFT.
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DGRO is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. DGRO and SPY overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as AVGO, AAPL, and MSFT, which explains why the score lands at 39.66%.
DGRO is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. SPY is the broader fund, while DGRO is the more targeted sleeve. DGRO and SPY are priced very similarly on expense ratio.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 22.17% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
If you want the broader portfolio building block, SPY is usually the wider choice. If you want the more focused tilt, DGRO is the narrower expression. DGRO and SPY are priced very similarly on expense ratio.
Concentration
The top three shared holdings explain 22.17% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
These are the holdings contributing the most to the overlap score between DGRO and SPY.
| Holding | Name | DGRO Wt. | SPY Wt. | Overlap |
|---|---|---|---|---|
| AVGO | BROADCOM INC | 3.25% | 2.95% | 2.95% |
| AAPL | APPLE INC | 2.93% | 6.66% | 2.93% |
| MSFT | MICROSOFT CORP | 2.91% | 5.48% | 2.91% |
| JPM | JP MORGAN CHASE & COMPANY | 3.04% | 1.47% | 1.47% |
| LLY | ELI LILLY & COMPANY | 1.14% | 1.45% | 1.14% |
| JNJ | JOHNSON & JOHNSON | 2.64% | 0.94% | 0.94% |
| V | VISA INC | 1.05% | 0.89% | 0.89% |
| WMT | WALMART INC | 0.95% | 0.76% | 0.76% |
| CSCO | CISCO SYSTEMS INC | 1.73% | 0.73% | 0.73% |
| ABBV | ABBVIE INC | 2.52% | 0.66% | 0.66% |
DGRO is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are AVGO, AAPL, and MSFT, which appear in both portfolios and push the overlap score higher.
Holding both DGRO and SPY can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.