DIA vs VBR: 0% overlap
SPDR Dow Jones Industrial Average ETF and Vanguard Small-Cap Value ETF share 0.0% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 27 days apart — VBR as of 2026-06-30, the rest through 2026-07-27. 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and VBR hold 0 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in VBR | Δ |
|---|
Where DIA and VBR 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 | VBR | Δ |
|---|---|---|---|
| Financials | 28.4% | 18.3% | +10.1pp |
| Real Estate | 0.0% | 9.8% | −9.8pp |
| Information Technology | 16.2% | 9.4% | +6.8pp |
| Health Care | 13.5% | 8.0% | +5.5pp |
| Utilities | 0.0% | 5.2% | −5.2pp |
| Materials | 3.7% | 7.2% | −3.5pp |
| Communication Services | 4.8% | 2.4% | +2.4pp |
| Energy | 2.2% | 4.0% | −1.9pp |
Δ is DIA minus VBR, 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
99.9% of DIA by weight, held in no part of VBR.
100.0% of VBR 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 | VBR | |
|---|---|---|
| Top 10 holdings | 55.6% | 6.2% |
| Positions held | 31 | 839 |
| 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 VBR overlap?
DIA and VBR overlap 0.0% by portfolio weight — largely distinct portfolios. They share 0 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-27, VBR as of 2026-06-30).
How is the overlap between DIA and VBR 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 VBR 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 VBR?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that VBR doesn't?
DIA holds 31 positions and VBR holds 839; 30 of DIA's positions don't appear in VBR at all, and they are 99.9% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-27, VBR as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.