IVW vs SPY Overlap
IVW is a U.S. growth equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. IVW and SPY show heavy overlap, with an estimated weighted overlap of 63.99%. They share 133 holdings in the loaded dataset, led by NVDA, AAPL, and MSFT.
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Quick Answer
IVW is a U.S. growth equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. IVW and SPY show heavy overlap, with an estimated weighted overlap of 63.99%. They share 133 holdings in the loaded dataset, led by NVDA, AAPL, and MSFT.
- 63.99% weighted overlap across 133 shared holdings.
- The top three shared holdings explain 30.08% of the measured overlap.
- IVW and SPY are closer in breadth than a broad-vs-niche ETF pair.
- 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
- IVW 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
IVW is a U.S. growth equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. IVW and SPY share a large chunk of the same portfolio weight. The overlap is driven by positions like NVDA, AAPL, and MSFT, so owning both may not diversify your stock exposure as much as the fund names suggest.
How They Differ
IVW is a U.S. growth equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. SPY has the lower expense ratio, while IVW 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 30.08% 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
Because IVW and SPY are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. SPY has the lower expense ratio, while IVW charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 30.08% 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 IVW and SPY.
| Holding | Name | IVW Wt. | SPY Wt. | Overlap |
|---|---|---|---|---|
| NVDA | NVIDIA CORP | 14.73% | 7.73% | 7.73% |
| AAPL | APPLE INC | 6.32% | 6.64% | 6.32% |
| MSFT | MICROSOFT CORP | 9.89% | 5.19% | 5.19% |
| AMZN | AMAZON COM INC | 3.63% | 3.59% | 3.59% |
| GOOGL | ALPHABET INC CLASS A | 5.86% | 3.08% | 3.08% |
| AVGO | BROADCOM INC | 5.31% | 2.79% | 2.79% |
| GOOG | ALPHABET INC CLASS C | 4.68% | 2.46% | 2.46% |
| META | META PLATFORMS INC CLASS A | 4.67% | 2.45% | 2.45% |
| TSLA | TESLA INC | 2.28% | 1.93% | 1.93% |
| BRK-B | BERKSHIRE HATHAWAY INC CLASS B | 2.97% | 1.56% | 1.56% |
Why These ETFs Overlap
IVW is a U.S. growth 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 NVDA, AAPL, and MSFT, which appear in both portfolios and push the overlap score higher.
Holding both IVW and SPY may add less diversification than you expect. Many investors would choose the ETF that best matches their goal and avoid paying for duplicate exposure.
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Frequently Asked Questions About IVW and SPY
What is the overlap between IVW and SPY?+
How many holdings do IVW and SPY share?+
Is the IVW and SPY overlap high?+
Why do IVW and SPY overlap?+
Which ETF is broader, IVW 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.