DIA vs VIG: 33% overlap
SPDR Dow Jones Industrial Average ETF and Vanguard Dividend Appreciation ETF share 32.7% 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 VIG hold 21 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in VIG | Δ |
|---|---|---|---|
| AAPL | 3.7% | 4.2% | 0.5% |
| JPM | 4.0% | 3.6% | 0.5% |
| MSFT | 4.4% | 3.5% | 0.9% |
| JNJ | 3.0% | 2.7% | 0.3% |
| V | 4.0% | 2.3% | 1.7% |
| CAT | 10.3% | 2.1% | 8.1% |
| UNH | 4.9% | 1.6% | 3.2% |
| HD | 3.7% | 1.5% | 2.2% |
| PG | 1.7% | 1.5% | 0.2% |
| MRK | 1.5% | 1.4% | 0.1% |
Where DIA and VIG 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 | VIG | Δ |
|---|---|---|---|
| Information Technology | 15.9% | 26.3% | −10.3pp |
| Financials | 28.6% | 20.2% | +8.5pp |
| Consumer Discretionary | 9.9% | 4.3% | +5.6pp |
| Consumer Staples | 3.9% | 9.3% | −5.5pp |
| Industrials | 17.5% | 12.2% | +5.3pp |
| Communication Services | 4.7% | 0.0% | +4.7pp |
| Health Care | 13.6% | 17.7% | −4.1pp |
| Utilities | 0.0% | 3.0% | −3.0pp |
Δ is DIA minus VIG, 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
22.1% of DIA by weight, held in no part of VIG.
64.7% of VIG 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 | VIG | |
|---|---|---|
| Top 10 holdings | 56.2% | 31.9% |
| Positions held | 31 | 333 |
| 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 VIG overlap?
DIA and VIG overlap 32.7% by portfolio weight — moderate overlap. They share 21 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, VIG as of 2026-06-30).
How is the overlap between DIA and VIG 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 VIG 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 VIG?
That depends on your goals — we state facts, not advice. At 32.7% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that VIG doesn't?
DIA holds 31 positions and VIG holds 333; 9 of DIA's positions don't appear in VIG at all, and they are 22.1% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, VIG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.