PRGFX vs SPLG: 46% overlap
T. Rowe Price Growth Stock and SPDR Portfolio S&P 500 ETF (now SPYM) share 45.5% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — PRGFX as of 2026-03-31, the rest through 2026-07-23. 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 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
PRGFX and SPLG hold 48 of the same securities. The ten contributing most to the overlap figure:
| Holding | in PRGFX | in SPLG | Δ |
|---|---|---|---|
| NVDA | 13.8% | 7.9% | 5.9% |
| AAPL | 11.1% | 7.4% | 3.7% |
| MSFT | 9.1% | 4.4% | 4.6% |
| AMZN | 4.9% | 3.6% | 1.3% |
| GOOGL | 7.0% | 2.9% | 4.1% |
| AVGO | 5.1% | 2.9% | 2.2% |
| META | 3.9% | 2.1% | 1.8% |
| LLY | 3.0% | 1.5% | 1.5% |
| TSLA | 2.7% | 1.4% | 1.3% |
| AMD | 1.1% | 1.4% | 0.2% |
Where PRGFX and SPLG 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 | PRGFX | SPLG | Δ |
|---|---|---|---|
| Information Technology | 48.2% | 37.5% | +10.7pp |
| Financials | 5.1% | 12.4% | −7.3pp |
| Unclassified | 5.9% | 0.0% | +5.9pp |
| Communication Services | 13.1% | 9.3% | +3.8pp |
| Consumer Staples | 0.8% | 4.6% | −3.8pp |
| Cash & Other | 3.5% | 0.0% | +3.5pp |
| Energy | 0.0% | 3.4% | −3.4pp |
| Industrials | 5.6% | 8.9% | −3.3pp |
Δ is PRGFX minus SPLG, 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
8.4% of PRGFX by weight, held in no part of SPLG.
53.7% of SPLG by weight, held in no part of PRGFX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| PRGFX | SPLG | |
|---|---|---|
| Top 10 holdings | 62.8% | 36.9% |
| Positions held | 79 | 507 |
| Cost per $10,000 held, per year | $64 | $2 |
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 PRGFX and SPLG overlap?
PRGFX and SPLG overlap 45.5% by portfolio weight — moderate overlap. They share 48 holdings. The figure comes from current issuer holdings files (PRGFX as of 2026-03-31, SPLG as of 2026-07-23).
How is the overlap between PRGFX and SPLG calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If PRGFX holds a stock at 6% and SPLG 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 PRGFX and SPLG?
That depends on your goals — we state facts, not advice. At 45.5% overlap, each fund still contributes meaningfully distinct exposure.
What does PRGFX own that SPLG doesn't?
PRGFX holds 79 positions and SPLG holds 507; 30 of PRGFX's positions don't appear in SPLG at all, and they are 8.4% of PRGFX by weight.
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Related comparisons
Sources: issuer holdings files, PRGFX as of 2026-03-31, SPLG as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.