SPY vs DIA Overlap AnalysisOverlap
Comparing SPDR S&P 500 ETF Trust and SPDR Dow Jones Industrial Average ETF
Visual Overlap
Price Performance
Historical price comparison over 3M
๐Performance Comparison
โ ๏ธRisk Metrics
Interpretation:
- ๐ Lower volatility = smoother ride
- โก Higher Sharpe/Sortino = better risk-adjusted returns
- โ ๏ธ Smaller max drawdown = less worst-case pain
- ๐ Beta > 1 = more volatile than S&P 500
โ๏ธHead-to-Head Comparison
๐ SPY wins this comparison
Key Factors
โถAdditional Metrics (5)
Bottom line: SPY wins with better expense ratio and number of holdings and 5-year return. Consider SPY for your portfolio, but DIA is still a solid choice if you prefer its specific advantages.
Detailed Overlap Analysis
10 shared holdings representing 10.5% portfolio overlap
Top Shared Holdings
| # | Stock | SPY Weight | DIA Weight | Overlap |
|---|---|---|---|---|
| 1 | MSFT MSFT | 6.11% | 6.85% | 6.11% |
| 2 | V V | 1.01% | 5.65% | 1.01% |
| 3 | HD HD | 0.58% | 6.65% | 0.58% |
| 4 | UNH UNH | 0.50% | 9.85% | 0.50% |
| 5 | CAT CAT | 0.46% | 6.25% | 0.46% |
| 6 | GS GS | 0.46% | 8.25% | 0.46% |
| 7 | CRM CRM | 0.43% | 5.45% | 0.43% |
| 8 | MCD MCD | 0.38% | 5.25% | 0.38% |
| 9 | AMGN AMGN | 0.30% | 5.85% | 0.30% |
| 10 | BA BA | 0.29% | 5.05% | 0.29% |
Overlap by Sector
Showing top 5 sectors by overlap contribution
Top Holdings Only in SPY
Unique to SPY
| Symbol | Name | Weight |
|---|---|---|
| NVDA | NVDA | 7.73% |
| AAPL | AAPL | 6.82% |
| AMZN | AMZN | 3.81% |
| GOOGL | GOOGL | 3.08% |
| AVGO | AVGO | 2.79% |
Price Correlation
How We Calculate Overlap
We use the minimum weight method with normalization to calculate portfolio overlap:
Overlap = ฮฃ min(weightA, weightB) for each shared holdingNormalization: Holdings weights are normalized to sum to 100% before comparison. This ensures accurate overlap calculations even when analyzing partial holdings data (e.g., top 50 positions).
Conservative approach: We consider only the smaller allocation for each shared position, giving you a realistic view of true portfolio overlap.
๐ This analysis is based on publicly available holdings data. For the most current and complete holdings information, please visit the official ETF provider websites.