SPY is a U.S. large-cap core ETF from SPDR, while VB is a small-cap U.S. equity ETF from Vanguard. SPY and VB show limited overlap, with an estimated weighted overlap of 3.12%. They share 118 holdings in the loaded dataset, led by LITE, COHR, and FIX.
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SPY is a U.S. large-cap core ETF from SPDR, while VB is a small-cap U.S. equity ETF from Vanguard. SPY and VB show limited overlap, with an estimated weighted overlap of 3.12%. They share 118 holdings in the loaded dataset, led by LITE, COHR, and FIX.
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SPY is a U.S. large-cap core ETF from SPDR, while VB is a small-cap U.S. equity ETF from Vanguard. SPY and VB 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 LITE, COHR, and FIX.
SPY is a U.S. large-cap core ETF from SPDR, while VB is a small-cap U.S. equity ETF from Vanguard. SPY is the broader fund, while VB is the more targeted sleeve. VB has the lower expense ratio, while SPY 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 9.77% 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, VB is the narrower expression. VB has the lower expense ratio, while SPY charges more for its exposure.
Concentration
The top three shared holdings explain 9.77% 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 SPY and VB.
| Holding | Name | SPY Wt. | VB Wt. | Overlap |
|---|---|---|---|---|
| LITE | LUMENTUM HOLDINGS INC | 0.11% | 0.35% | 0.11% |
| COHR | COHERENT CORP | 0.10% | 0.31% | 0.10% |
| FIX | COMFORT SYSTEMS USA INC | 0.09% | 0.34% | 0.09% |
| CIEN | CIENA CORP | 0.09% | 0.38% | 0.09% |
| FLEX | FLEX LTD | 0.07% | 0.34% | 0.07% |
| JBL | JABIL INC | 0.06% | 0.37% | 0.06% |
| EME | EMCOR GROUP INC | 0.06% | 0.46% | 0.06% |
| STLD | STEEL DYNAMICS INC | 0.05% | 0.17% | 0.05% |
| EQT | EQT CORP | 0.05% | 0.28% | 0.05% |
| CNC | CENTENE CORP | 0.05% | 0.11% | 0.05% |
SPY is a U.S. large-cap core ETF from SPDR, while VB is a small-cap U.S. equity ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are LITE, COHR, and FIX, which appear in both portfolios and push the overlap score higher.
Holding both SPY and VB 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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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.