etf overlap · light overlap
SPY vs SMH overlap
18% of SPY and SMH is the same money, spread over 19 companies both funds hold.
Holdings as of September 24, 2026 · source: SPDR (SPY), VanEck (SMH)
- same money
- same companies, extra weight
- only in this fund
The companies you would own twice
What only one of them gives you
AMZNAMAZON.COM INC3.69%Where each fund puts its money
SPY and SMH: what people ask
How much do SPY and SMH overlap?
18% by weight, as of September 24, 2026: light overlap. 19 companies appear in both funds; they make up 18% of SPY and 79% of SMH.
Which stocks do SPY and SMH both hold?
The largest shared positions are NVDA, AVGO, MU, AMD and INTC. Ranked by the smaller of the two weights, which is the part you would own twice.
Is it redundant to hold both SPY and SMH?
Out of every $100 split evenly between them, about $18 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 485 names only in SPY, 6 only in SMH. Whether that duplication is a problem depends on the mix you want; this is a description, not advice.
How is ETF overlap calculated here?
For every company held by both funds we take the smaller of its two weights and add them up. The weights come from the full holdings files SPDR and VanEck publish, not a top-10 sample, and companies are matched by their ISIN so share classes stay apart.
Weights come from each issuer's published holdings file and are matched company by company on their ISIN. Cash, futures and currency positions are left out. This page describes what the funds hold; it is not investment advice.