FPAG vs DFSE overlap

FPAG and DFSE overlap 0.2% by weight, across 1 shared holdings.

FPAGDFSE

Pick 2 to 4 ETFs.

0.2%

overlap by weight, across 1 shared holdings

FPAG0.7% of the fund is in shared holdings, of 64

DFSE0.2% of the fund is in shared holdings, of 3,682

Top shared holdings

Holding	FPAG	DFSE	Overlap
Grupo Mexico-BGMBXF	0.71%	0.21%	0.21%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: FPAG, SEC Form N-PORT, June 30, 2026; DFSE, SEC Form N-PORT, July 31, 2026.

institutions report holding both, of 226 holding any

FPAG5.7% of its 13F dollars, 16.0% of its 50 holders

DFSE0.8% of its 13F dollars, 4.3% of its 184 holders

Largest institutions holding both

Firm	FPAG	DFSE
LPL Financial LLC	$21.1M	$715K
Private Advisor Group, LLC	$3.4M	$287K
HighTower Advisors, LLC	$305K	$1.1M
Mills Wealth Advisors LLC	$846K	$422K
Commonwealth Equity Services, LLC	$242K	$579K
US Bancorp	$417K	$40K
Osaic Holdings, Inc.	$287K	$152K
Royal Bank of Canada	$8K	$137K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: FPAG institutional holders, DFSE institutional holders.

Frequently asked questions

How much do FPAG and DFSE overlap?

0.2% by weight, with 1 holdings in common, using holdings for FPAG as of June 30, 2026 and DFSE as of July 31, 2026. The largest shared position is GMBXF.

Do institutions hold both FPAG and DFSE?

8 Form 13F filers report positions in both, out of 226 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.