Free ETF Overlap Tool & Holdings Comparison
Compare two equity ETFs for shared holdings, overlap by weight, and sector exposure. Free to use, with no signup required.
Funds Overlap
See which holdings any two equity ETFs have in common, along with top differences in exposure.
What is ETF overlap?
ETF overlap happens when two exchange-traded funds own some of the same securities. Buying a second ETF does not necessarily add a completely different basket of stocks. You may be adding more exposure to companies you already own, even when the funds follow different indexes or have different names.
This free ETF overlap tool compares shared holdings, their weights, and sector differences. Use it to understand what changes when you combine funds. Overlap is not automatically good or bad: its usefulness depends on whether you want broader exposure or a deliberate tilt toward particular companies.
How to read your ETF overlap results
Start with the number of overlapping holdings. This counts the securities found in both funds. The two percentages underneath show what fraction of each fund’s holdings count appears in the other fund. A small fund can share most of its holdings with a larger fund while representing only a small fraction of the larger fund’s list.
Next, read overlap by weight. For each shared holding, the calculation takes the smaller of the two portfolio weights and adds those smaller weights together. A shared stock with a 6% weight in one fund and a 4% weight in the other contributes four percentage points to overlap. This distinguishes small shared positions from the companies that dominate both portfolios.
Sector drift shows Fund 1’s allocation minus Fund 2’s allocation in each sector. A positive value means Fund 1 has more exposure; a negative value means Fund 2 has more. The overweight and underweight tables apply that same comparison to individual stocks. These differences describe exposure, not a prediction about which fund will perform better.
Worked example: VOO vs QQQ
Illustrative weights only; these are not current fund holdings.
VOO follows the S&P 500, while QQQ follows the Nasdaq-100. Their different indexes can still hold many of the same large companies. Suppose the following three stocks appeared in both funds. Taking the smaller weight in each row gives their contribution to overlap:
| Holding | VOO weight | QQQ weight | Overlap |
|---|---|---|---|
| Stock A | 6% | 8% | 6% |
| Stock B | 5% | 4% | 4% |
| Stock C | 3% | 5% | 3% |
Together, these rows contribute 13 percentage points of overlap. The full result must include every shared holding, not just three stocks or the top ten. With half your portfolio in each fund, your exposure to Stock A would be 7%: (50% × 6%) + (50% × 8%). That combined exposure is a different calculation from the funds’ overlap score.
Explore the QQQ vs VOO comparison →Data and methodology
The tool uses holdings and weights returned by Wisesheets’ public comparison service. Displayed totals are rounded, so adding the visible rows may differ slightly from the headline percentage. The service currently does not supply a holdings date for either fund; check the fund issuer’s published holdings when reporting dates matter. Missing coverage should not be interpreted as zero overlap. Results are informational and should be considered alongside fees, risk, and your investment objectives.
ETF overlap frequently asked questions
There is no universal cutoff. High overlap can be intentional when you want to increase exposure to a particular group of companies. It is less useful when you expect a second fund to diversify your holdings. Review the shared weights, sector mix, and your allocation to each ETF before deciding whether the duplication fits your strategy.
Each percentage uses a different denominator: the total number of holdings in that fund. If two funds share 80 holdings, one has 500 holdings and the other has 100, their percentages are 16% and 80%. Neither figure measures the amount of money invested in those holdings; use overlap by weight for that comparison.
No. Overlap compares the securities that funds hold and their portfolio weights. Correlation measures how returns move together over a chosen period. Funds can hold different companies but still respond similarly to interest rates, sector trends, or market conditions. Low holdings overlap alone does not guarantee diversification or protection from losses.
This tool compares two ETFs at a time. You can repeat comparisons for other pairs, but do not add the overlap percentages together: the same stock may appear in several pairs. To understand a whole portfolio, combine each stock’s weight in each fund with your actual allocation to that fund.
Yes. You can compare two supported equity ETFs and browse their shared holdings without signing up. Search for each fund by name or ticker, then select Find Overlap. Use the holdings search below the results to locate a company and compare its weight in both funds.
Funds rebalance, prices move, and holdings providers update at different times. Tools may also match share classes differently or use different treatments of cash and derivatives. Compare the same definition and reporting dates where available. These results are based on the holdings returned by our data service, not a real-time audit of a fund.
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Explore holdings overlap alongside fees, returns, and dividends.