DIA vs QUAL Overlap
DIA is an industrials ETF from SPDR, while QUAL is an equity ETF from IShares. DIA and QUAL show meaningful overlap, with an estimated weighted overlap of 24.43%. They share 14 holdings in the loaded dataset, led by MSFT, AAPL, and V.
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Quick Answer
DIA is an industrials ETF from SPDR, while QUAL is an equity ETF from IShares. DIA and QUAL show meaningful overlap, with an estimated weighted overlap of 24.43%. They share 14 holdings in the loaded dataset, led by MSFT, AAPL, and V.
- 24.43% weighted overlap across 14 shared holdings.
- The top three shared holdings explain 47.45% of the measured overlap.
- QUAL 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 may add less diversification than the fund names imply.
Data Freshness
- DIA holdings
- Mar 12, 2026
- QUAL 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 QUAL is an equity ETF from IShares. DIA and QUAL overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as MSFT, AAPL, and V, which explains why the score lands at 24.43%.
How They Differ
DIA is an industrials ETF from SPDR, while QUAL is an equity ETF from IShares. QUAL is the broader fund, while DIA is the more targeted sleeve. QUAL 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 47.45% 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, QUAL is usually the wider choice. If you want the more focused tilt, DIA is the narrower expression. QUAL has the lower expense ratio, while DIA charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 47.45% 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 QUAL.
| Holding | Name | DIA Wt. | QUAL Wt. | Overlap |
|---|---|---|---|---|
| MSFT | MICROSOFT CORP | 5.23% | 5.19% | 5.19% |
| AAPL | APPLE INC | 3.36% | 6.24% | 3.36% |
| V | VISA INC CLASS A SHARES | 4.05% | 3.04% | 3.04% |
| NVDA | NVIDIA CORP | 2.38% | 6.23% | 2.38% |
| JNJ | JOHNSON + JOHNSON | 3.14% | 2.11% | 2.11% |
| CAT | CATERPILLAR INC | 9.23% | 2.10% | 2.10% |
| WMT | WALMART INC | 1.61% | 1.21% | 1.21% |
| MRK | MERCK + CO. INC. | 1.51% | 1.20% | 1.20% |
| PG | PROCTER + GAMBLE CO/THE | 2.01% | 1.02% | 1.02% |
| UNH | UNITEDHEALTH GROUP INC | 3.64% | 0.81% | 0.81% |
Why These ETFs Overlap
DIA is an industrials ETF from SPDR, while QUAL 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 MSFT, AAPL, and V, which appear in both portfolios and push the overlap score higher.
Holding both DIA and QUAL 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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Frequently Asked Questions About DIA and QUAL
What is the overlap between DIA and QUAL?+
How many holdings do DIA and QUAL share?+
Is the DIA and QUAL overlap high?+
Why do DIA and QUAL overlap?+
Which ETF is broader, DIA or QUAL?+
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.