ABALX vs DIA: 14% overlap
American Funds American Balanced A and SPDR Dow Jones Industrial Average ETF share 13.6% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — ABALX as of 2026-03-31, the rest through 2026-07-23. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ABALX and DIA hold 22 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ABALX | in DIA | Δ |
|---|---|---|---|
| NVDA | 2.0% | 2.4% | 0.4% |
| MSFT | 2.0% | 4.4% | 2.4% |
| GOOGL | 1.7% | 3.6% | 1.9% |
| V | 1.0% | 4.0% | 3.0% |
| AMGN | 0.9% | 4.3% | 3.3% |
| UNH | 0.9% | 4.9% | 4.0% |
| AMZN | 0.8% | 2.7% | 1.9% |
| HD | 0.7% | 3.7% | 3.0% |
| AAPL | 0.6% | 3.7% | 3.1% |
| IBM | 0.4% | 2.4% | 1.9% |
Where ABALX and DIA differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | ABALX | DIA | Δ |
|---|---|---|---|
| Unclassified | 22.7% | 0.0% | +22.7pp |
| Financials | 8.9% | 28.6% | −19.7pp |
| Treasuries | 12.3% | 0.0% | +12.3pp |
| Industrials | 6.0% | 17.5% | −11.5pp |
| Health Care | 6.7% | 13.6% | −6.9pp |
| Consumer Discretionary | 4.7% | 9.9% | −5.2pp |
| Corporate — industrial & other | 3.6% | 0.0% | +3.6pp |
| MBS Pass-Through | 2.7% | 0.0% | +2.7pp |
Δ is ABALX minus DIA, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
87.1% of ABALX by weight, held in no part of DIA.
19.7% of DIA by weight, held in no part of ABALX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ABALX | DIA | |
|---|---|---|
| Top 10 holdings | 36.3% | 56.2% |
| Positions held | 1,439 | 31 |
| Cost per $10,000 held, per year | $56 | $16 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do ABALX and DIA overlap?
ABALX and DIA overlap 13.6% by portfolio weight — largely distinct portfolios. They share 22 holdings. The figure comes from current issuer holdings files (ABALX as of 2026-03-31, DIA as of 2026-07-23).
How is the overlap between ABALX and DIA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ABALX holds a stock at 6% and DIA holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both ABALX and DIA?
That depends on your goals — we state facts, not advice. At 13.6% overlap, each fund still contributes meaningfully distinct exposure.
What does ABALX own that DIA doesn't?
ABALX holds 1,439 positions and DIA holds 31; 1,416 of ABALX's positions don't appear in DIA at all, and they are 87.1% of ABALX by weight.
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Related comparisons
Sources: issuer holdings files, ABALX as of 2026-03-31, DIA as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.