DIA vs VTV: 23% overlap
SPDR Dow Jones Industrial Average ETF and Vanguard Value ETF share 22.8% 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 VTV hold 22 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in VTV | Δ |
|---|---|---|---|
| JPM | 4.0% | 3.1% | 1.0% |
| JNJ | 3.0% | 2.3% | 0.7% |
| CAT | 10.3% | 1.8% | 8.4% |
| UNH | 4.9% | 1.4% | 3.5% |
| HD | 3.7% | 1.3% | 2.4% |
| CSCO | 1.3% | 1.6% | 0.3% |
| PG | 1.7% | 1.3% | 0.4% |
| WMT | 1.2% | 1.9% | 0.6% |
| MRK | 1.5% | 1.2% | 0.3% |
| CVX | 2.2% | 1.2% | 1.1% |
Where DIA and VTV 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 | VTV | Δ |
|---|---|---|---|
| Financials | 28.6% | 22.1% | +6.6pp |
| Consumer Discretionary | 9.9% | 3.9% | +6.0pp |
| Consumer Staples | 3.9% | 8.7% | −4.9pp |
| Utilities | 0.0% | 4.8% | −4.8pp |
| Energy | 2.2% | 6.8% | −4.6pp |
| Real Estate | 0.0% | 2.5% | −2.5pp |
| Industrials | 17.5% | 15.0% | +2.5pp |
| Information Technology | 15.9% | 14.1% | +1.9pp |
Δ is DIA minus VTV, 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
26.3% of DIA by weight, held in no part of VTV.
76.2% of VTV 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 | VTV | |
|---|---|---|
| Top 10 holdings | 56.2% | 23.6% |
| Positions held | 31 | 309 |
| 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 VTV overlap?
DIA and VTV overlap 22.8% by portfolio weight — moderate overlap. They share 22 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, VTV as of 2026-06-30).
How is the overlap between DIA and VTV 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 VTV 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 VTV?
That depends on your goals — we state facts, not advice. At 22.8% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that VTV doesn't?
DIA holds 31 positions and VTV holds 309; 8 of DIA's positions don't appear in VTV at all, and they are 26.3% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, VTV as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.