IVV vs MGK: 50% overlap
iShares Core S&P 500 ETF and Vanguard Mega Cap Growth ETF share 50.2% 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 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVV and MGK hold 55 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVV | in MGK | Δ |
|---|---|---|---|
| NVDA | 7.9% | 13.2% | 5.3% |
| AAPL | 7.4% | 12.1% | 4.7% |
| MSFT | 4.4% | 7.5% | 3.0% |
| AMZN | 3.6% | 4.4% | 0.9% |
| GOOGL | 2.9% | 5.9% | 3.0% |
| AVGO | 2.9% | 4.3% | 1.3% |
| GOOG | 2.4% | 4.6% | 2.3% |
| META | 2.1% | 4.1% | 2.0% |
| LLY | 1.5% | 3.4% | 1.9% |
| TSLA | 1.4% | 3.9% | 2.5% |
Where IVV and MGK 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 | IVV | MGK | Δ |
|---|---|---|---|
| Information Technology | 37.5% | 58.6% | −21.2pp |
| Financials | 12.3% | 4.0% | +8.4pp |
| Communication Services | 9.3% | 16.2% | −6.9pp |
| Industrials | 8.9% | 2.6% | +6.2pp |
| Health Care | 9.1% | 4.9% | +4.2pp |
| Consumer Staples | 4.6% | 0.4% | +4.2pp |
| Energy | 3.4% | 0.0% | +3.4pp |
| Consumer Discretionary | 8.7% | 11.2% | −2.5pp |
Δ is IVV minus MGK, 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
49.7% of IVV by weight, held in no part of MGK.
0.8% of MGK by weight, held in no part of IVV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVV | MGK | |
|---|---|---|
| Top 10 holdings | 36.8% | 63.5% |
| Positions held | 506 | 57 |
| Cost per $10,000 held, per year | $3 | $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 IVV and MGK overlap?
IVV and MGK overlap 50.2% by portfolio weight — substantial duplication if you hold both. They share 55 holdings. The figure comes from current issuer holdings files (IVV as of 2026-07-23, MGK as of 2026-06-30).
How is the overlap between IVV and MGK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVV holds a stock at 6% and MGK 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 IVV and MGK?
That depends on your goals — we state facts, not advice. At 50.2% overlap, each fund still contributes meaningfully distinct exposure.
What does IVV own that MGK doesn't?
IVV holds 506 positions and MGK holds 57; 450 of IVV's positions don't appear in MGK at all, and they are 49.7% of IVV by weight.
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Related comparisons
Sources: issuer holdings files, IVV as of 2026-07-23, MGK as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.