PFM vs EQAL overlap
PFM and EQAL overlap 21.1% by weight, across 291 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (PFM: July 31, 2026, EQAL: May 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 | PFM | EQAL | Overlap |
|---|---|---|---|
| Cisco SystemsCSCO | 1.66% | 0.73% | 0.73% |
| Verizon CommunicVZ | 0.71% | 0.45% | 0.45% |
| Comcast Corp.-aCMCSA | 0.31% | 0.39% | 0.31% |
| Motorola SolutioMSI | 0.26% | 0.41% | 0.26% |
| Linde PLCLIN | 0.80% | 0.23% | 0.23% |
| Phillips 66PSX | 0.31% | 0.23% | 0.23% |
| Air Prods & CHEMAPD | 0.24% | 0.22% | 0.22% |
| Exxon Mobil Corp.XOM | 2.33% | 0.21% | 0.21% |
| Nucor Corp.NUE | 0.21% | 0.34% | 0.21% |
| Ecolab Inc.ECL | 0.28% | 0.21% | 0.21% |
| Chevron Corp.CVX | 1.42% | 0.21% | 0.21% |
| Fastenal CoFAST | 0.20% | 0.22% | 0.20% |
| SempraSRE | 0.21% | 0.19% | 0.19% |
| American ElectriAEP | 0.25% | 0.19% | 0.19% |
| Nextera EnergyNEE | 0.66% | 0.19% | 0.19% |
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: PFM, SEC Form N-PORT, July 31, 2026; EQAL, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | PFM | EQAL |
|---|---|---|
| Stifel Financial Corp. | $626K | $274.2M |
| LPL Financial LLC | $100.4M | $13.5M |
| Raymond James Financial Inc. | $50.5M | $3.1M |
| Morgan Stanley | $34.7M | $12.6M |
| Bank of America Corp. | $15.0M | $23.7M |
| Jones Financial Companies LLLP | $12.8M | $914K |
| UBS Group AG | $4.2M | $9.2M |
| Royal Bank of Canada | $10.7M | $1.8M |
| Wells Fargo & Company | $12.5M | $23 |
| Clearstead Advisors, LLC | $12.0M | $25K |
| Geneos Wealth Management Inc. | $79K | $7.4M |
| PNC Financial Services Group, Inc. | $159K | $7.0M |
| Cetera Investment Advisers | $4.7M | $2.1M |
| Rockefeller Capital Management L.P. | $5.5M | $870K |
| Baird Financial Group, Inc. | $4.8M | $1.2M |
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: PFM institutional holders, EQAL institutional holders.
Frequently asked questions
How much do PFM and EQAL overlap?
21.1% by weight, with 291 holdings in common, using holdings for PFM as of July 31, 2026 and EQAL as of May 31, 2026. The largest shared position is CSCO.
Do institutions hold both PFM and EQAL?
43 Form 13F filers report positions in both, out of 200 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%.