ETF Overlap Calculator
Type two tickers to compare two ETFs head to head. The calculator lines up the funds' disclosed top-10 holdings and shows the names they share, the weighted overlap of those top-10 positions with how much of each fund the lists cover, and the sector overlap across the whole fund. For VTI vs VOO: 10 of 10 top holdings shared, 33.5% of weight in common, from lists that cover 33.5% of VTI and 37.8% of VOO, and a 96.6% sector overlap.
VOO and QQQ share 9 of their 10 biggest holdings
35.2% of weight shared · data as of Oct 20, 2026
Shared top holdings
- NVIDIA: 8.1% of VOO, 8.3% of QQQ
- Apple: 7% of VOO, 7.4% of QQQ
- Microsoft: 5.7% of VOO, 5.8% of QQQ
- Amazon: 3.8% of VOO, 4.1% of QQQ
- Alphabet A: 3% of VOO, 3.1% of QQQ
- Alphabet C: 2.4% of VOO, 2.8% of QQQ
- Meta: 1.9% of VOO, 3.3% of QQQ
- Micron: 1.6% of VOO, 5% of QQQ
- Tesla: 1.6% of VOO, 2.8% of QQQ
- Only in VOO's top 10: Broadcom 2.7%
- Only in QQQ's top 10: Advanced Micro Devices 4.2%
Yearly fee on $10,000
Where they differ
- Tech
- Financials
- Communication
- Consumer
- Health
- Other
Turn your funds into a paycheck for life.
What does this overlap mean?
73.5% sector overlap is high. The funds share most of their market exposure; the second fund adds a tilt rather than real diversification. Make sure the tilt (dividends, tech, size) is one you actually want twice.
Sector breakdown: VOO vs QQQ
| Sector | VOO | QQQ | Overlap |
|---|---|---|---|
| Technology | 38.7% | 60.3% | 38.7% |
| Communication Services | 9.5% | 12.6% | 9.5% |
| Financial Services | 12% | 0.2% | 0.2% |
| Consumer Discretionary | 9.3% | 10.1% | 9.3% |
| Health Care | 9.3% | 3.8% | 3.8% |
| Industrials | 7.8% | 5.1% | 5.1% |
| Consumer Staples | 4.5% | 5.6% | 4.5% |
| Energy | 3.5% | 0.5% | 0.5% |
| Utilities | 2% | 1% | 1% |
| Real Estate | 1.8% | 0% | 0% |
| Materials | 1.7% | 0.9% | 0.9% |
How we calculate it
Holdings overlap sums min(weight in fund A, weight in fund B) across positions that appear in both funds' disclosed top-holdings lists — public data discloses only each fund's largest positions, so this number is a lower bound on true full-portfolio overlap. Sector overlap applies the same min() logic to the funds' complete sector allocations, which cover ~100% of each fund, making it the more complete signal of duplication.
How the overlap of two ETFs is measured
For every company both funds hold, take the smaller of its two weights and add those minimums up: the sum is the share of weight the two funds have in common. This calculator does that on each fund's published top-10 holdings and states how much of each fund those ten names cover, so the headline figure is a floor read from the biggest positions, not the whole portfolio. The sector table repeats the same minimum-of-two sum over the funds' sector weights, which cover the whole fund — that is the number the verdict reads.
Two S&P 500 trackers overlap almost completely, and even VTI and VOO overlap roughly 88% by weight according to ETF Research Center — type them in above and the shared list shows which names carry that weight in each fund.
How much ETF overlap is too much?
There is no single safe threshold — it depends on intent. If you hold two funds for diversification, sector overlap above roughly 60-70% means the second fund is mostly repeating the first. If you hold them deliberately as the same exposure (e.g. an S&P 500 fund in two accounts), even ~100% overlap is fine. The problem is unintentional overlap: thinking you own two different bets when you own one.
The classic example: VTI vs VOO overlap roughly 88% by weight per ETF Research Center — holding both is effectively holding one US large-cap portfolio, not two diversified funds.
A worked example: VTI vs VOO
Before you type anything, here is what the output looks like. These are the funds' own disclosed top holdings, compared with the same arithmetic the calculator above runs.
VTI and VOO share 10 of their disclosed top holdings — 33.5% of portfolio weight and 96.6% of sector exposure. Data as of 2026-10-20.
| Shared holding | Weight in VTI | Weight in VOO | Counted as overlap |
|---|---|---|---|
| NVDA | 6.87% | 8.08% | 6.87% |
| AAPL | 6.30% | 7.03% | 6.30% |
| MSFT | 5.10% | 5.70% | 5.10% |
| AMZN | 3.41% | 3.84% | 3.41% |
| GOOGL | 2.70% | 3.01% | 2.70% |
| AVGO | 2.37% | 2.65% | 2.37% |
| GOOG | 2.12% | 2.40% | 2.12% |
| META | 1.70% | 1.90% | 1.70% |
| MU | 1.46% | 1.63% | 1.46% |
| TSLA | 1.40% | 1.57% | 1.40% |
Overlap is Σ min(weight in A, weight in B) — the share of weight genuinely duplicated, not the count of shared names. Issuers disclose a top-N list rather than every position, so this is a floor, not a total. The full breakdown, including sectors, is on the pair page.
See the full VTI vs VOO breakdown
All 18 precomputed pairs are published as JSON with a derivation note, if you would rather work with the data directly. Download the dataset
Compare Canadian, UK and European ETFs
The calculator reads more than US tickers. Add a fund's exchange suffix and it compares that listing's disclosed holdings and sectors. Overlap is measured in weight, so the currency a fund trades in does not change the answer: a euro-listed fund compares directly with one priced in dollars.
Canadian ETFs (.TO)
XEQT.TO, VEQT.TO and VFV.TO resolve on the Toronto exchange. The all-in-one portfolios hold other ETFs, and the calculator looks through them to the companies underneath, so XEQT against VEQT compares stocks rather than fund wrappers, and VFV against VOO shows how close a Canadian-listed S&P 500 fund sits to the US one.
UK ETFs (.L)
London listings such as VUSA.L, VWRL.L and ISF.L work the same way. For an S&P 500 holding, UK investors usually choose between Vanguard's accumulating VUAG.L and iShares' CSP1.L: both track the same index, so their page shows how little their holdings differ and what each costs a year.
European UCITS ETFs (.DE, .AS)
Xetra, Amsterdam and other European listings work too, accumulating UCITS share classes included: VWCE.DE, EUNL.DE (the iShares Core MSCI World that Amsterdam lists as IWDA) or SXR8.DE (the iShares Core S&P 500, CSPX in London and Amsterdam). VWCE against EUNL is the choice most European investors face for a world fund: all-world against developed markets only.
How to use the ETF overlap calculator
Comparing two funds takes under a minute:
- 1
Type the first fund's ticker (e.g. VTI) and pick it from the search suggestions.
- 2
Type the second ticker (e.g. VOO) — any listed ETF or stock on the major exchanges works, from US tickers to London, Xetra, Amsterdam, Toronto and the ASX.
- 3
Hit Compare. We pull each fund's disclosed top holdings and full sector breakdown.
- 4
Read the three numbers together: sector overlap (full data), top-holdings overlap (lower bound), and shared positions — then check the interpretation note below them.
ETF overlap — frequently asked questions
What does an ETF overlap percentage actually mean?
It is the portion of fund value invested in the same underlying positions, counting each shared position at the smaller of its two weights. 60% overlap means at least 60% of one fund's exposure is also in the other fund. We show it two ways: across disclosed top holdings (a lower bound) and across complete sector allocations.
Is it bad to own both VTI and VOO?
Not necessarily — but know what you own. They overlap roughly 88% by weight, so the pair behaves like one US equity position, not two diversified holdings. Common legitimate reasons to hold both: different accounts, tax-loss-harvesting partners, or a gradual transition. The mistake is believing they diversify each other.
Why is the holdings overlap a "lower bound"?
Public data feeds disclose only each fund's largest positions (typically the top 10), which for a broad fund like VTI covers about a third of its weight. Overlap inside that disclosed slice can be measured exactly; overlap in the undisclosed remainder can't, so the true full-portfolio figure is at least the number we show. That's also why we lead with sector overlap, which uses complete data.
Does the calculator work outside the US — UK, European (UCITS), Canadian and Australian ETFs?
Yes — tickers like VWCE.DE, VUSA.L, XEQT.TO or VAS.AX resolve through their own exchange, accumulating UCITS share classes included, and two funds from different markets can be compared against each other. Holdings data for some funds takes a few seconds to warm up on first request; if you see a loading message, retry shortly.
What's the difference between holdings overlap and sector overlap?
Holdings overlap matches individual positions (NVDA in fund A vs NVDA in fund B). Sector overlap matches allocation buckets (Technology vs Technology). Two funds can share zero top holdings yet overlap 70% by sector — a dividend fund and an S&P 500 fund, for instance — which still means correlated behaviour in a sector-driven selloff.
How is this different from the portfolio analyzer?
This page compares exactly two funds head-to-head. The free portfolio analyzer takes your entire holding list at once and computes combined look-through exposure, concentration warnings, risk metrics and projections across everything you own.
Data & methodology disclaimer
This tool is for education, not investment advice. Holdings and sector data come from public market-data feeds, reflect each fund's most recently disclosed top positions, and can lag the fund's actual portfolio. Overlap computed from disclosed top holdings is a lower bound. Always verify against the fund provider's official holdings file before making decisions.
Track your real portfolio, not just two tickers
Connect your full holding list in the planner: combined look-through exposure, net worth tracking, and your path to financial independence — no spreadsheet required.
Create my accountFree Financial Tools
FIRE Calculator
Calculate your path to financial independence with Coast FIRE, Barista FIRE, and custom withdrawal strategies.
Try the FIRE CalculatorNet Worth Projection Calculator
Project net worth and cash flow across a whole life — add the car, the career break, the child and the pension, and see the year each one lands.
Open the Life PlannerCoast FIRE Calculator
Find the amount you need today so compound interest carries you to FIRE — no more contributions needed.
Find your Coast FIRE numberBarista FIRE Calculator
Find the portfolio size that lets you downshift to part-time work, with healthcare bridge costs built in.
Try Free Barista FIRE CalculatorCompound Interest Calculator
See exactly how compounding grows your money. Side-by-side scenarios, expense-ratio drag, and real (inflation-adjusted) returns built in.
Open the calculatorETF Overlap & Portfolio Analysis Tool
Check ETF overlap across your whole portfolio, see look-through holdings and sector exposure, and stress test against historical crises.
Check your ETF overlap