QUAL vs DFAC overlap
QUAL and DFAC overlap 36.2% by weight, across 120 shared holdings.
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Top shared holdings
| Holding | QUAL | DFAC | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 5.85% | 5.27% | 5.27% |
| Apple Inc.AAPL | 6.64% | 5.12% | 5.12% |
| Microsoft Corp.MSFT | 7.16% | 4.41% | 4.41% |
| META Platforms-aMETA | 3.69% | 1.73% | 1.73% |
| Alphabet Inc.-aGOOGL | 2.05% | 1.69% | 1.69% |
| Alphabet Inc.-CGOOG | 1.63% | 1.09% | 1.09% |
| ELI Lilly & CoLLY | 3.66% | 1.05% | 1.05% |
| Johnson&JohnsonJNJ | 2.06% | 0.84% | 0.84% |
| Exxon Mobil Corp.XOM | 2.18% | 0.82% | 0.82% |
| Berkshire HATH-BBRK/B | 1.84% | 0.75% | 0.75% |
| VISA Inc.-Class aV | 3.17% | 0.70% | 0.70% |
| Mastercard Inc.-aMA | 2.28% | 0.53% | 0.53% |
| Procter & GamblePG | 0.82% | 0.47% | 0.47% |
| Merck & CoMRK | 1.25% | 0.46% | 0.46% |
| Costco WholesaleCOST | 1.11% | 0.41% | 0.41% |
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: QUAL, SEC Form N-PORT, July 31, 2026; DFAC, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | QUAL | DFAC |
|---|---|---|
| FMR LLC | $4.3B | $20.9M |
| LPL Financial LLC | $2.9B | $822.1M |
| Mercer Global Advisors Inc. | $254.3M | $3.2B |
| Envestnet Asset Management Inc. | $1.7B | $612.7M |
| Focus Partners Wealth | $324.1M | $1.9B |
| Bank of America Corp. | $1.9B | $263.9M |
| Morgan Stanley | $1.7B | $25.4M |
| PNC Financial Services Group, Inc. | $1.3B | $3.2M |
| Cerity Partners LLC | $845.8M | $196.5M |
| Ameriprise Financial Inc. | $1.0B | $867K |
| Wells Fargo & Company | $846.2M | $19.9M |
| UBS Group AG | $779.5M | $75.3M |
| Focus Partners Advisor Solutions, LLC | $22.8M | $781.1M |
| Apella Capital, LLC | $16.3M | $713.4M |
| Facet Wealth, Inc. | $724.2M | $2.8M |
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: QUAL institutional holders, DFAC institutional holders.
Frequently asked questions
How much do QUAL and DFAC overlap?
36.2% by weight, with 120 holdings in common, using holdings for QUAL as of July 31, 2026 and DFAC as of July 31, 2026. The largest shared position is NVDA.
Do institutions hold both QUAL and DFAC?
629 Form 13F filers report positions in both, out of 2,230 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%.