SPUS vs FRWD overlap
SPUS and FRWD overlap 27.2% by weight, across 13 shared holdings.
Pick 2 to 4 ETFs.
Top shared holdings
| Holding | SPUS | FRWD | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 13.51% | 8.09% | 8.09% |
| Broadcom Inc.AVGO | 5.58% | 4.65% | 4.65% |
| Alphabet Inc.-aGOOGL | 5.83% | 3.20% | 3.20% |
| Micron TechMU | 2.86% | 5.14% | 2.86% |
| Microsoft Corp.MSFT | 8.80% | 2.81% | 2.81% |
| ADV Micro DeviceAMD | 2.20% | 7.80% | 2.20% |
| LAM ResearchLRCX | 1.04% | 6.65% | 1.04% |
| Texas InstrumentTXN | 0.74% | 3.77% | 0.74% |
| Seagate TechnoloSTX | 0.51% | 7.74% | 0.51% |
| Booking HoldingsBKNG | 0.35% | 2.04% | 0.35% |
| Servicenow Inc.NOW | 0.34% | 1.74% | 0.34% |
| Cadence DesignCDNS | 0.27% | 1.82% | 0.27% |
| Doordash Inc.-aDASH | 0.16% | 3.29% | 0.16% |
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: SPUS, SEC Form N-PORT, May 31, 2026; FRWD, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | SPUS | FRWD |
|---|---|---|
| LPL Financial LLC | $4.1M | $128.2M |
| Envestnet Asset Management Inc. | $4.9M | $783K |
| Truist Financial Corp. | $2.2M | $806K |
| HRT Financial LP | $235K | $1.9M |
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: SPUS institutional holders, FRWD institutional holders.
Frequently asked questions
How much do SPUS and FRWD overlap?
27.2% by weight, with 13 holdings in common, using holdings for SPUS as of May 31, 2026 and FRWD as of June 30, 2026. The largest shared position is NVDA.
Do institutions hold both SPUS and FRWD?
4 Form 13F filers report positions in both, out of 105 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%.