HDV vs SPY Overlap
HDV is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. HDV and SPY show limited overlap, with an estimated weighted overlap of 10.51%. They share 51 holdings in the loaded dataset, led by XOM, JNJ, and ABBV.
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Quick Answer
HDV is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. HDV and SPY show limited overlap, with an estimated weighted overlap of 10.51%. They share 51 holdings in the loaded dataset, led by XOM, JNJ, and ABBV.
- 10.51% weighted overlap across 51 shared holdings.
- The top three shared holdings explain 26.43% of the measured overlap.
- SPY is the broader fund, while HDV 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
- HDV holdings
- Mar 12, 2026
- SPY 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
HDV is a dividend-focused equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. HDV and SPY 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 XOM, JNJ, and ABBV.
How They Differ
HDV 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 HDV is the more targeted sleeve. HDV has the lower expense ratio, while SPY 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 26.43% 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, SPY is usually the wider choice. If you want the more focused tilt, HDV is the narrower expression. HDV has the lower expense ratio, while SPY charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 26.43% 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 HDV and SPY.
| Holding | Name | HDV Wt. | SPY Wt. | Overlap |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP | 10.54% | 1.08% | 1.08% |
| JNJ | JOHNSON & JOHNSON | 7.19% | 1.01% | 1.01% |
| ABBV | ABBVIE INC | 5.60% | 0.69% | 0.69% |
| PG | PROCTER & GAMBLE | 5.29% | 0.63% | 0.63% |
| HD | HOME DEPOT INC | 4.44% | 0.61% | 0.61% |
| CVX | CHEVRON CORP | 7.60% | 0.61% | 0.61% |
| CSCO | CISCO SYSTEMS INC | 3.02% | 0.53% | 0.53% |
| KO | COCA-COLA | 4.20% | 0.52% | 0.52% |
| PM | PHILIP MORRIS INTERNATIONAL INC | 5.07% | 0.46% | 0.46% |
| PEP | PEPSICO INC | 4.09% | 0.38% | 0.38% |
Why These ETFs Overlap
HDV 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 XOM, JNJ, and ABBV, which appear in both portfolios and push the overlap score higher.
Holding both HDV and SPY 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 HDV and SPY
What is the overlap between HDV and SPY?+
How many holdings do HDV and SPY share?+
Is the HDV and SPY overlap high?+
Why do HDV and SPY overlap?+
Which ETF is broader, HDV or SPY?+
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.