SPY vs IWD overlap
SPY and IWD overlap 57.2% by weight, across 425 shared holdings. SPY is shown using IVV, which tracks the same index.
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SPY files no portfolio holdings with the SEC; shown using IVV, which tracks the same index, as of June 30, 2026.
Top shared holdings
| Holding | SPY | IWD | Overlap |
|---|---|---|---|
| Apple Inc.AAPL | 6.58% | 5.37% | 5.37% |
| Microsoft Corp.MSFT | 4.29% | 3.88% | 3.88% |
| Amazon.COM Inc.AMZN | 3.61% | 5.93% | 3.61% |
| Berkshire HATH-BBRK/B | 1.42% | 2.61% | 1.42% |
| JPMorgan ChaseJPM | 1.36% | 2.45% | 1.36% |
| Intel Corp.INTC | 1.02% | 1.72% | 1.02% |
| Johnson&JohnsonJNJ | 0.95% | 1.71% | 0.95% |
| Exxon Mobil Corp.XOM | 0.88% | 1.59% | 0.88% |
| Walmart Inc.WMT | 0.77% | 1.27% | 0.77% |
| Cisco SystemsCSCO | 0.72% | 1.30% | 0.72% |
| Abbvie Inc.ABBV | 0.69% | 1.15% | 0.69% |
| Costco WholesaleCOST | 0.64% | 0.65% | 0.64% |
| META Platforms-aMETA | 1.92% | 0.63% | 0.63% |
| Unitedhealth GRPUNH | 0.58% | 1.05% | 0.58% |
| Bank of AmericaBAC | 0.58% | 0.98% | 0.58% |
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: SPY, IVV's SEC Form N-PORT, June 30, 2026; IWD, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | SPY | IWD |
|---|---|---|
| JPMorgan Chase & Co | $35.3B | $2.1B |
| Morgan Stanley | $24.1B | $9.9B |
| Bank of America Corp. | $23.0B | $10.8B |
| Goldman Sachs Group Inc. | $23.5B | $2.8B |
| Northern Trust Corp. | $10.3B | $1.0B |
| Susquehanna International Group, LLP | $10.9B | $1.1M |
| UBS Group AG | $9.2B | $1.5B |
| D. E. Shaw & Co., Inc. | $10.5B | $12.3M |
| Wells Fargo & Company | $9.0B | $1.4B |
| Gotham Asset Management, LLC | $8.5B | $28.3M |
| LPL Financial LLC | $7.4B | $980.1M |
| Royal Bank of Canada | $6.8B | $530.3M |
| FMR LLC | $3.1B | $2.2B |
| Bank of Montreal | $4.8B | $73.1M |
| Northwestern Mutual Wealth Management Co | $4.7B | $100.5M |
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: SPY institutional holders, IWD institutional holders.
Frequently asked questions
How much do SPY and IWD overlap?
57.2% by weight, with 425 holdings in common, using holdings for SPY as of June 30, 2026 and IWD as of June 30, 2026. The largest shared position is AAPL.
Do institutions hold both SPY and IWD?
1,813 Form 13F filers report positions in both, out of 4,819 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%.