AVUV vs MDY: 10% overlap
Avantis U.S. Small Cap Value ETF and SPDR S&P MidCap 400 ETF Trust share 9.7% 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 5 months apart — AVUV as of 2026-02-28, 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
AVUV and MDY hold 71 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVUV | in MDY | Δ |
|---|---|---|---|
| FIVE | 1.0% | 0.3% | 0.7% |
| R | 0.6% | 0.3% | 0.3% |
| MLI | 0.3% | 0.4% | 0.1% |
| COLB | 0.5% | 0.3% | 0.2% |
| KEX | 0.4% | 0.2% | 0.2% |
| TEX | 0.7% | 0.2% | 0.4% |
| CHRD | 0.4% | 0.2% | 0.2% |
| THG | 0.5% | 0.2% | 0.3% |
| AMKR | 0.3% | 0.2% | 0.1% |
| AVT | 0.8% | 0.2% | 0.6% |
Where AVUV and MDY 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 | AVUV | MDY | Δ |
|---|---|---|---|
| Energy | 16.8% | 4.9% | +12.0pp |
| Financials | 24.1% | 14.8% | +9.3pp |
| Information Technology | 5.4% | 13.8% | −8.4pp |
| Industrials | 17.3% | 25.4% | −8.0pp |
| Consumer Discretionary | 16.9% | 10.2% | +6.6pp |
| Health Care | 3.5% | 9.7% | −6.2pp |
| Real Estate | 1.0% | 6.9% | −5.9pp |
| Unclassified | 3.5% | 0.0% | +3.5pp |
Δ is AVUV minus MDY, 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
74.4% of AVUV by weight, held in no part of MDY.
86.8% of MDY by weight, held in no part of AVUV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AVUV | MDY | |
|---|---|---|
| Top 10 holdings | 8.5% | 7.6% |
| Positions held | 774 | 400 |
| Cost per $10,000 held, per year | $25 | $23 |
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 AVUV and MDY overlap?
AVUV and MDY overlap 9.7% by portfolio weight — largely distinct portfolios. They share 71 holdings. The figure comes from current issuer holdings files (AVUV as of 2026-02-28, MDY as of 2026-07-23).
How is the overlap between AVUV and MDY calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AVUV holds a stock at 6% and MDY 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 AVUV and MDY?
That depends on your goals — we state facts, not advice. At 9.7% overlap, each fund still contributes meaningfully distinct exposure.
What does AVUV own that MDY doesn't?
AVUV holds 774 positions and MDY holds 400; 703 of AVUV's positions don't appear in MDY at all, and they are 74.4% of AVUV by weight.
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Related comparisons
Sources: issuer holdings files, AVUV as of 2026-02-28, MDY as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.