DIA vs VEA: 0% overlap
SPDR Dow Jones Industrial Average ETF and Vanguard FTSE Developed Markets ETF share 0.1% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and VEA hold 30 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in VEA | Δ |
|---|---|---|---|
| MRK | 1.5% | 0.1% | 1.4% |
| CAT | 10.3% | 0.0% | 10.3% |
| GS | 12.3% | 0.0% | 12.3% |
| UNH | 4.9% | 0.0% | 4.9% |
| MSFT | 4.4% | 0.0% | 4.4% |
| TRV | 4.3% | 0.0% | 4.3% |
| AMGN | 4.3% | 0.0% | 4.3% |
| V | 4.0% | 0.0% | 4.0% |
| JPM | 4.0% | 0.0% | 4.0% |
| AXP | 3.9% | 0.0% | 3.9% |
Where DIA and VEA 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 | VEA | Δ |
|---|---|---|---|
| Unclassified | 0.0% | 8.9% | −8.9pp |
| Financials | 28.6% | 20.7% | +7.9pp |
| Health Care | 13.6% | 6.2% | +7.4pp |
| Utilities | 0.0% | 3.3% | −3.3pp |
| Consumer Discretionary | 9.9% | 7.4% | +2.6pp |
| Communication Services | 4.7% | 2.5% | +2.2pp |
| Real Estate | 0.0% | 2.0% | −2.0pp |
| Consumer Staples | 3.9% | 5.6% | −1.7pp |
Δ is DIA minus VEA, 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
0.0% of DIA by weight, held in no part of VEA.
99.9% of VEA 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 | VEA | |
|---|---|---|
| Top 10 holdings | 56.2% | 15.2% |
| Positions held | 31 | 3,792 |
| Cost per $10,000 held, per year | $16 | $3 |
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 VEA overlap?
DIA and VEA overlap 0.1% by portfolio weight — largely distinct portfolios. They share 30 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, VEA as of 2026-06-30).
How is the overlap between DIA and VEA 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 VEA 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 VEA?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that VEA doesn't?
DIA holds 31 positions and VEA holds 3,792; 0 of DIA's positions don't appear in VEA at all, and they are 0.0% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.