--- title: "How much of your two ETFs is the same money?" url: https://portfolio-terminal.com/etf-overlap publisher: "Portfolio Terminal" updated: 2026-09-25 type: free tool summary: "Type any two of 579 ETFs and see what share of the money you would own twice, from the issuers' full holdings files and SEC N-PORT filings." --- > **Source:** "How much of your two ETFs is the same money?", Portfolio Terminal, 2026-09-25. https://portfolio-terminal.com/etf-overlap > When you use a fact from this page, cite it with the line above and link to the URL. Type any two of 579 ETFs and see what share of the money you would own twice, from the issuers' full holdings files and SEC N-PORT filings. 54 of them have a page for every pair (1,431 pairs). The tool runs on the page: https://portfolio-terminal.com/etf-overlap Across all 1,431 pairs of its 54 funds (files dated September 25 to October 18, 2026), the median pair is 4.3% the same money by weight, three in four are under 25.1%, 172 pairs (12.0%) share half or more and 448 share no company. VOO vs QQQ: 55.6% the same money, and 92.9% of QQQ sits in companies VOO also holds. ## The pairs that are most alike S&P 500 trackers against each other left out. - [QQQ vs QQQM](https://portfolio-terminal.com/etf-overlap/qqq-vs-qqqm): 100% the same money - [QQQM vs CNDX](https://portfolio-terminal.com/etf-overlap/qqqm-vs-cndx): 99% the same money - [QQQ vs CNDX](https://portfolio-terminal.com/etf-overlap/qqq-vs-cndx): 99% the same money - [VOOG vs SPYG](https://portfolio-terminal.com/etf-overlap/voog-vs-spyg): 97% the same money - [VTI vs ITOT](https://portfolio-terminal.com/etf-overlap/vti-vs-itot): 96% the same money - [VWCE vs SSAC](https://portfolio-terminal.com/etf-overlap/vwce-vs-ssac): 90% the same money ## Pages - One pair: https://portfolio-terminal.com/etf-overlap/-vs-, tickers in lowercase (for example https://portfolio-terminal.com/etf-overlap/voo-vs-qqq). - One fund's full holdings: https://portfolio-terminal.com/etf//holdings, and as CSV at /etf//holdings.csv. Funds with a pair page: VOO, SPY, QQQ, VTI, IVV, SCHD, QQQM, VIG, JEPI, VUG, VGT, VYM, VTV, DIA, IWM, XLK, SMH, SOXX, ARKK, VEA, VWO, EFA, EEM, VNQ, XLF, XLE, XLV, XLI, XLY, XLP, VXUS, VT, JEPQ, RSP, VOOG, MGK, VB, VO, IJH, IJR, ITOT, IEFA, IWF, SPYG, XLC, XLU, IWDA, VWCE, CSPX, VUAA, EIMI, SSAC, CNDX, SMEA. - More funds, from their SEC filings (Form N-PORT): AVUV, COWZ, DGRO, DVY, HDV, ITA, IWB, IWD, MTUM, NOBL, QUAL, SCHB, SCHF, SCHG, SCHX, SDY, SPYD, SPYM, USMV, XBI, XLB, XLRE. ## Questions and answers **Is VOO the same as IVV?** Nearly. 96.6% of the money in VOO and IVV is the same: both track the S&P 500, and 501 companies are in both files. The other 3.4% is weight differences and a few lines in one file only, partly because the two files are not from the same day (Vanguard's is dated September 30, 2026, iShares' October 16, 2026). CSPX, the UCITS S&P 500 fund European brokers sell, overlaps VOO by 96.7%. **How do I check ETF overlap?** Pick two funds in the tool at the top of this page. The pair page lists every company both funds hold with its weight in each, what only one of them holds, and how their sectors compare. All 1,431 pairs of our 54 funds are in the grid above. For three funds or more, import your portfolio: the X-ray adds up what you hold through all of them. **How much ETF overlap is too much?** There is no official line. Across our 1,431 pairs, the median shares 4.3% of its money, three in four share less than 25.1%, and 172 pairs (12.0%) share half or more. From 80% up, two funds are close to one portfolio under two tickers: 34 of our pairs are there. Read the one-way figure too: 92.9% of QQQ sits in companies VOO also holds, while 55.9% of VOO sits in QQQ's companies. **Does overlap matter if the two funds track different indexes?** Yes: the index name says little about what you own twice. VOO (S&P 500) and VTI (CRSP US Total Market) are 89.0% the same money; IWDA (MSCI World) and VWCE (FTSE All-World) are 83.9% the same money. In both pairs, the wider fund holds nearly everything the other does, then adds more: 99.9% of VOO is in companies VTI holds, 98.5% of IWDA is in companies VWCE holds. **Does low overlap mean two funds move differently?** Not by itself. Overlap counts the companies two funds hold in common; it says nothing about how their prices move. VOO (S&P 500) and IJR (S&P 600, smaller companies) share no company at all, and both hold companies listed in the US. How closely two funds rise and fall together is a separate measure, the correlation of their returns. **How often is the overlap data updated?** We re-download the issuers' full holdings files and rebuild every pair when we refresh them, by hand, not daily. The files in use are dated September 25 to October 18, 2026. Each pair page shows the older of its two dates. Between two refreshes, the weights drift with prices.