DIA vs IVE: 22% overlap
SPDR Dow Jones Industrial Average ETF and iShares S&P 500 Value ETF share 21.7% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and IVE hold 26 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in IVE | Δ |
|---|---|---|---|
| AAPL | 3.7% | 8.1% | 4.4% |
| AMZN | 2.7% | 3.7% | 1.0% |
| UNH | 4.9% | 1.3% | 3.6% |
| WMT | 1.2% | 1.6% | 0.4% |
| CVX | 2.2% | 1.2% | 1.0% |
| PG | 1.7% | 1.2% | 0.5% |
| HD | 3.7% | 1.1% | 2.6% |
| MRK | 1.5% | 1.1% | 0.4% |
| JPM | 4.0% | 1.0% | 3.0% |
| V | 4.0% | 0.9% | 3.1% |
Where DIA and IVE 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 | DIA | IVE | Δ |
|---|---|---|---|
| Financials | 28.6% | 16.1% | +12.5pp |
| Industrials | 17.5% | 11.5% | +6.0pp |
| Energy | 2.2% | 7.4% | −5.1pp |
| Consumer Staples | 3.9% | 8.7% | −4.8pp |
| Utilities | 0.0% | 4.5% | −4.5pp |
| Information Technology | 15.9% | 19.8% | −3.8pp |
| Real Estate | 0.0% | 3.4% | −3.4pp |
| Communication Services | 4.7% | 2.9% | +1.8pp |
Δ is DIA minus IVE, 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
20.7% of DIA by weight, held in no part of IVE.
72.6% of IVE by weight, held in no part of DIA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| DIA | IVE | |
|---|---|---|
| Top 10 holdings | 56.2% | 23.7% |
| Positions held | 31 | 440 |
| Cost per $10,000 held, per year | $16 | $18 |
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 DIA and IVE overlap?
DIA and IVE overlap 21.7% by portfolio weight — moderate overlap. They share 26 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, IVE as of 2026-07-23).
How is the overlap between DIA and IVE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If DIA holds a stock at 6% and IVE 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 DIA and IVE?
That depends on your goals — we state facts, not advice. At 21.7% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that IVE doesn't?
DIA holds 31 positions and IVE holds 440; 4 of DIA's positions don't appear in IVE at all, and they are 20.7% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, IVE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.