DIA vs MTUM Overlap
DIA is an industrials ETF from SPDR, while MTUM is an equity ETF from IShares. DIA and MTUM show limited overlap, with an estimated weighted overlap of 16.33%. They share 7 holdings in the loaded dataset, led by JNJ, JPM, and CAT.
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Quick Answer
DIA is an industrials ETF from SPDR, while MTUM is an equity ETF from IShares. DIA and MTUM show limited overlap, with an estimated weighted overlap of 16.33%. They share 7 holdings in the loaded dataset, led by JNJ, JPM, and CAT.
- 16.33% weighted overlap across 7 shared holdings.
- The top three shared holdings explain 55.82% of the measured overlap.
- MTUM is the broader fund, while DIA is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- DIA holdings
- Mar 12, 2026
- MTUM holdings
- Mar 12, 2026
- Overlap computed
- Mar 13, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
DIA is an industrials ETF from SPDR, while MTUM is an equity ETF from IShares. DIA and MTUM do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like JNJ, JPM, and CAT.
How They Differ
DIA is an industrials ETF from SPDR, while MTUM is an equity ETF from IShares. MTUM is the broader fund, while DIA is the more targeted sleeve. MTUM has the lower expense ratio, while DIA charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 55.82% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
If you want the broader portfolio building block, MTUM is usually the wider choice. If you want the more focused tilt, DIA is the narrower expression. MTUM has the lower expense ratio, while DIA charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 55.82% 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.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between DIA and MTUM.
| Holding | Name | DIA Wt. | MTUM Wt. | Overlap |
|---|---|---|---|---|
| JNJ | JOHNSON + JOHNSON | 3.14% | 4.55% | 3.14% |
| JPM | JPMORGAN CHASE + CO | 3.72% | 3.02% | 3.02% |
| CAT | CATERPILLAR INC | 9.23% | 2.95% | 2.95% |
| NVDA | NVIDIA CORP | 2.38% | 4.91% | 2.38% |
| GS | GOLDMAN SACHS GROUP INC | 10.74% | 1.74% | 1.74% |
| WMT | WALMART INC | 1.61% | 2.99% | 1.61% |
| IBM | INTL BUSINESS MACHINES CORP | 3.22% | 1.48% | 1.48% |
Why These ETFs Overlap
DIA is an industrials ETF from SPDR, while MTUM is an equity ETF from IShares. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are JNJ, JPM, and CAT, which appear in both portfolios and push the overlap score higher.
Holding both DIA and MTUM can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About DIA and MTUM
What is the overlap between DIA and MTUM?+
How many holdings do DIA and MTUM share?+
Is the DIA and MTUM overlap high?+
Why do DIA and MTUM overlap?+
Which ETF is broader, DIA or MTUM?+
How Overlap Is Calculated
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.