PAVE vs DFAX overlap
PAVE and DFAX overlap 0.1% by weight, across 1 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (PAVE: May 31, 2026, DFAX: July 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | PAVE | DFAX | Overlap |
|---|---|---|---|
| Amrize Ltd.AMRZ | 1.63% | 0.10% | 0.10% |
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: PAVE, SEC Form N-PORT, May 31, 2026; DFAX, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | PAVE | DFAX |
|---|---|---|
| Bank of America Corp. | $1.5B | $118.1M |
| Bank of Montreal | $1.4B | $128K |
| LPL Financial LLC | $566.6M | $303.1M |
| Morgan Stanley | $686.1M | $6.9M |
| Focus Partners Wealth | $180.4M | $382.9M |
| Envestnet Asset Management Inc. | $299.9M | $246.6M |
| JPMorgan Chase & Co | $263.4M | $58.1M |
| Royal Bank of Canada | $116.0M | $142.3M |
| CIBC Bancorp USA Inc. | $248.1M | $942K |
| Allworth Financial LP | $5.9M | $242.9M |
| UBS Group AG | $139.4M | $99.6M |
| Commonwealth Equity Services, LLC | $59.3M | $163.9M |
| Wells Fargo & Company | $212.0M | $1.4M |
| Raymond James Financial Inc. | $109.7M | $96.8M |
| Osaic Holdings, Inc. | $131.3M | $17.0M |
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: PAVE institutional holders, DFAX institutional holders.
Frequently asked questions
How much do PAVE and DFAX overlap?
0.1% by weight, with 1 holdings in common, using holdings for PAVE as of May 31, 2026 and DFAX as of July 31, 2026. The largest shared position is AMRZ.
Do institutions hold both PAVE and DFAX?
233 Form 13F filers report positions in both, out of 1,299 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%.