RSP is an equal-weight U.S. equity ETF from Invesco, while SPY is a U.S. large-cap core ETF from SPDR. RSP and SPY show meaningful overlap, with an estimated weighted overlap of 44.31%. They share 493 holdings in the loaded dataset, led by INTC, AMD, and SNDK.
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RSP is an equal-weight U.S. equity ETF from Invesco, while SPY is a U.S. large-cap core ETF from SPDR. RSP and SPY show meaningful overlap, with an estimated weighted overlap of 44.31%. They share 493 holdings in the loaded dataset, led by INTC, AMD, and SNDK.
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RSP is an equal-weight U.S. equity ETF from Invesco, while SPY is a U.S. large-cap core ETF from SPDR. RSP and SPY overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as INTC, AMD, and SNDK, which explains why the score lands at 44.31%.
RSP is an equal-weight U.S. equity ETF from Invesco, 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 RSP 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 2.28% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
Because RSP 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 RSP charges more for its exposure.
Concentration
The top three shared holdings explain 2.28% 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 RSP and SPY.
| Holding | Name | RSP Wt. | SPY Wt. | Overlap |
|---|---|---|---|---|
| INTC | Intel Corp. | 0.38% | 0.75% | 0.38% |
| AMD | Advanced Micro Devices, Inc. | 0.33% | 1.18% | 0.33% |
| SNDK | Sandisk Corp. | 0.32% | 0.30% | 0.30% |
| STX | Seagate Technology Holdings PLC | 0.34% | 0.30% | 0.30% |
| TXN | Texas Instruments Inc. | 0.27% | 0.38% | 0.27% |
| QCOM | QUALCOMM Inc. | 0.26% | 0.26% | 0.26% |
| UNH | UnitedHealth Group Inc. | 0.25% | 0.55% | 0.25% |
| GEV | GE Vernova Inc. | 0.25% | 0.42% | 0.25% |
| ADI | Analog Devices, Inc. | 0.24% | 0.28% | 0.24% |
| CAT | Caterpillar Inc. | 0.24% | 0.59% | 0.24% |
RSP is an equal-weight U.S. equity ETF from Invesco, 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 INTC, AMD, and SNDK, which appear in both portfolios and push the overlap score higher.
Holding both RSP 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.