DIA vs IVW: 25% overlap
SPDR Dow Jones Industrial Average ETF and iShares S&P 500 Growth ETF share 25.0% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and IVW hold 17 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in IVW | Δ |
|---|---|---|---|
| MSFT | 4.4% | 8.2% | 3.8% |
| AAPL | 3.7% | 6.9% | 3.2% |
| GOOGL | 3.6% | 5.4% | 1.8% |
| AMZN | 2.7% | 3.5% | 0.8% |
| NVDA | 2.4% | 14.7% | 12.3% |
| JPM | 4.0% | 1.8% | 2.2% |
| CAT | 10.3% | 1.2% | 9.1% |
| JNJ | 3.0% | 1.1% | 1.9% |
| V | 4.0% | 0.9% | 3.1% |
| CSCO | 1.3% | 0.7% | 0.6% |
Where DIA and IVW 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 | IVW | Δ |
|---|---|---|---|
| Information Technology | 15.9% | 52.5% | −36.6pp |
| Financials | 28.6% | 9.2% | +19.5pp |
| Industrials | 17.5% | 6.6% | +10.8pp |
| Communication Services | 4.7% | 14.7% | −10.0pp |
| Health Care | 13.6% | 6.3% | +7.3pp |
| Materials | 3.6% | 0.3% | +3.3pp |
| Consumer Staples | 3.9% | 1.2% | +2.7pp |
| Energy | 2.2% | 0.0% | +2.2pp |
Δ is DIA minus IVW, 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
31.3% of DIA by weight, held in no part of IVW.
53.1% of IVW 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 | IVW | |
|---|---|---|
| Top 10 holdings | 56.2% | 58.2% |
| Positions held | 31 | 149 |
| 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 IVW overlap?
DIA and IVW overlap 25.0% by portfolio weight — moderate overlap. They share 17 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, IVW as of 2026-07-23).
How is the overlap between DIA and IVW 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 IVW 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 IVW?
That depends on your goals — we state facts, not advice. At 25.0% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that IVW doesn't?
DIA holds 31 positions and IVW holds 149; 13 of DIA's positions don't appear in IVW at all, and they are 31.3% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, IVW as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.