MTUM is an equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. MTUM and SPY show meaningful overlap, with an estimated weighted overlap of 33.88%. They share 103 holdings in the loaded dataset, led by NVDA, AVGO, and GOOGL.
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MTUM is an equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. MTUM and SPY show meaningful overlap, with an estimated weighted overlap of 33.88%. They share 103 holdings in the loaded dataset, led by NVDA, AVGO, and GOOGL.
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MTUM is an equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. MTUM and SPY overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as NVDA, AVGO, and GOOGL, which explains why the score lands at 33.88%.
MTUM is an equity ETF from IShares, while SPY is a U.S. large-cap core ETF from SPDR. SPY is the broader fund, while MTUM is the more targeted sleeve. SPY has the lower expense ratio, while MTUM charges more for its exposure.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 31.1% 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, MTUM is the narrower expression. SPY has the lower expense ratio, while MTUM charges more for its exposure.
Concentration
The top three shared holdings explain 31.1% 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 MTUM and SPY.
| Holding | Name | MTUM Wt. | SPY Wt. | Overlap |
|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | 4.64% | 8.14% | 4.64% |
| AVGO | BROADCOM INC. | 5.40% | 2.95% | 2.95% |
| GOOGL | ALPHABET INC. | 2.94% | 3.02% | 2.94% |
| GOOG | ALPHABET INC. | 2.39% | 2.43% | 2.39% |
| MU | MICRON TECHNOLOGY, INC. | 5.56% | 1.54% | 1.54% |
| JPM | JPMORGAN CHASE & CO. | 2.87% | 1.47% | 1.47% |
| AMD | ADVANCED MICRO DEVICES, INC. | 4.03% | 1.18% | 1.18% |
| JNJ | JOHNSON & JOHNSON | 3.76% | 0.94% | 0.94% |
| WMT | WALMART INC. | 2.75% | 0.76% | 0.76% |
| INTC | INTEL CORPORATION | 3.83% | 0.75% | 0.75% |
MTUM is an 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, AVGO, and GOOGL, which appear in both portfolios and push the overlap score higher.
Holding both MTUM 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.