SPY is a U.S. large-cap core ETF from SPDR, while VYM is a dividend-focused equity ETF from Vanguard. SPY and VYM show meaningful overlap, with an estimated weighted overlap of 33.9%. They share 248 holdings in the loaded dataset, led by AVGO, JPM, and JNJ.
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SPY is a U.S. large-cap core ETF from SPDR, while VYM is a dividend-focused equity ETF from Vanguard. SPY and VYM show meaningful overlap, with an estimated weighted overlap of 33.9%. They share 248 holdings in the loaded dataset, led by AVGO, JPM, and JNJ.
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SPY is a U.S. large-cap core ETF from SPDR, while VYM is a dividend-focused equity ETF from Vanguard. SPY and VYM overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as AVGO, JPM, and JNJ, which explains why the score lands at 33.9%.
SPY is a U.S. large-cap core ETF from SPDR, while VYM is a dividend-focused equity ETF from Vanguard. SPY is the broader fund, while VYM is the more targeted sleeve. VYM 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 15.82% 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, VYM is the narrower expression. VYM has the lower expense ratio, while SPY charges more for its exposure.
Concentration
The top three shared holdings explain 15.82% 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 VYM.
| Holding | Name | SPY Wt. | VYM Wt. | Overlap |
|---|---|---|---|---|
| AVGO | BROADCOM INC | 2.95% | 8.03% | 2.95% |
| JPM | JPMORGAN CHASE + CO | 1.47% | 3.34% | 1.47% |
| JNJ | JOHNSON + JOHNSON | 0.94% | 2.30% | 0.94% |
| CSCO | CISCO SYSTEMS INC | 0.73% | 1.52% | 0.73% |
| ABBV | ABBVIE INC | 0.66% | 1.56% | 0.66% |
| BAC | BANK OF AMERICA CORP | 0.63% | 1.44% | 0.63% |
| CAT | CATERPILLAR INC | 0.59% | 1.72% | 0.59% |
| UNH | UNITEDHEALTH GROUP INC | 0.55% | 1.40% | 0.55% |
| CVX | CHEVRON CORP | 0.55% | 1.51% | 0.55% |
| HD | HOME DEPOT INC | 0.51% | 1.36% | 0.51% |
SPY is a U.S. large-cap core ETF from SPDR, while VYM is a dividend-focused 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 AVGO, JPM, and JNJ, which appear in both portfolios and push the overlap score higher.
Holding both SPY and VYM 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.