DIA vs MGK: 19% overlap
SPDR Dow Jones Industrial Average ETF and Vanguard Mega Cap Growth ETF share 19.3% 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 MGK hold 7 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in MGK | Δ |
|---|---|---|---|
| MSFT | 4.4% | 7.5% | 3.1% |
| AAPL | 3.7% | 12.1% | 8.4% |
| GOOGL | 3.6% | 5.9% | 2.2% |
| AMZN | 2.7% | 4.4% | 1.8% |
| NVDA | 2.4% | 13.2% | 10.8% |
| V | 4.0% | 1.8% | 2.2% |
| BA | 2.4% | 0.7% | 1.7% |
Where DIA and MGK 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 | MGK | Δ |
|---|---|---|---|
| Information Technology | 15.9% | 58.6% | −42.7pp |
| Financials | 28.6% | 4.0% | +24.7pp |
| Industrials | 17.5% | 2.6% | +14.8pp |
| Communication Services | 4.7% | 16.2% | −11.5pp |
| Health Care | 13.6% | 4.9% | +8.7pp |
| Consumer Staples | 3.9% | 0.4% | +3.5pp |
| Materials | 3.6% | 0.4% | +3.2pp |
| Energy | 2.2% | 0.0% | +2.2pp |
Δ is DIA minus MGK, 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
76.7% of DIA by weight, held in no part of MGK.
54.3% of MGK 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 | MGK | |
|---|---|---|
| Top 10 holdings | 56.2% | 63.5% |
| Positions held | 31 | 57 |
| Cost per $10,000 held, per year | $16 | $5 |
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 MGK overlap?
DIA and MGK overlap 19.3% by portfolio weight — moderate overlap. They share 7 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, MGK as of 2026-06-30).
How is the overlap between DIA and MGK 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 MGK 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 MGK?
That depends on your goals — we state facts, not advice. At 19.3% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that MGK doesn't?
DIA holds 31 positions and MGK holds 57; 23 of DIA's positions don't appear in MGK at all, and they are 76.7% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, MGK as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.