DIA vs SCHG: 21% overlap
SPDR Dow Jones Industrial Average ETF and Schwab U.S. Large-Cap Growth ETF share 21.4% 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 2 months apart — SCHG as of 2026-05-31, 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and SCHG hold 10 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in SCHG | Δ |
|---|---|---|---|
| MSFT | 4.4% | 7.2% | 2.8% |
| AAPL | 3.7% | 9.8% | 6.1% |
| GOOGL | 3.6% | 4.8% | 1.1% |
| AMZN | 2.7% | 5.7% | 3.0% |
| NVDA | 2.4% | 11.0% | 8.6% |
| V | 4.0% | 1.9% | 2.1% |
| UNH | 4.9% | 1.2% | 3.7% |
| DIS | 1.1% | 0.6% | 0.4% |
| CRM | 1.8% | 0.6% | 1.2% |
| SHW | 3.6% | 0.2% | 3.3% |
Where DIA and SCHG 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 | SCHG | Δ |
|---|---|---|---|
| Information Technology | 15.9% | 46.1% | −30.1pp |
| Financials | 28.6% | 6.8% | +21.9pp |
| Industrials | 17.5% | 6.0% | +11.5pp |
| Communication Services | 4.7% | 14.7% | −10.0pp |
| Health Care | 13.6% | 8.3% | +5.3pp |
| Materials | 3.6% | 0.6% | +3.0pp |
| Consumer Discretionary | 9.9% | 12.1% | −2.2pp |
| Consumer Staples | 3.9% | 1.7% | +2.1pp |
Δ is DIA minus SCHG, 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
67.8% of DIA by weight, held in no part of SCHG.
56.9% of SCHG 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 | SCHG | |
|---|---|---|
| Top 10 holdings | 56.2% | 57.2% |
| Positions held | 31 | 195 |
| Cost per $10,000 held, per year | $16 | $4 |
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 SCHG overlap?
DIA and SCHG overlap 21.4% by portfolio weight — moderate overlap. They share 10 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, SCHG as of 2026-05-31).
How is the overlap between DIA and SCHG 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 SCHG 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 SCHG?
That depends on your goals — we state facts, not advice. At 21.4% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that SCHG doesn't?
DIA holds 31 positions and SCHG holds 195; 20 of DIA's positions don't appear in SCHG at all, and they are 67.8% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, SCHG as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.