SPY vs VWCE ETF holdings comparison
SPDR S&P 500 ETF Trust (SPY) · Vanguard FTSE All-World UCITS ETF (USD Acc) (VWCE)
SPY and VWCE overlap by 59.6% by portfolio weight. The remaining 40.4 percentage points are not counted as shared holdings weight by this calculation. They share 441 stocks; the largest shared position is Nvidia Corp (NVDA), contributing 4.77% to the overlap.
The holdings dates differ. This can slightly understate overlap for funds tracking similar indexes.
What this means
SPY and VWCE share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold. It answers "how much of my money is in the same stocks either way?" See methodology.
This comparison covers normalized equity positions represented in the dataset. Cash, derivatives, options, structured notes, and other non-equity assets are not included, so the result is not a complete comparison of every asset or risk in either fund.
Top shared holdings
| Company | Ticker | in SPY | in VWCE |
|---|---|---|---|
| Nvidia Corp | NVDA | 8.22% | 4.77% |
| Apple Inc | AAPL | 7.39% | 4.24% |
| Microsoft Corp | MSFT | 5.57% | 3.49% |
| Amazon.Com Inc | AMZN | 3.79% | 2.33% |
| Alphabet Inc Cl A | GOOGL | 3.11% | 1.87% |
| Broadcom Inc | AVGO | 2.58% | 1.59% |
| Alphabet Inc Cl C | GOOG | 2.49% | 1.44% |
| Meta Platforms Inc Class A | META | 2.44% | 1.17% |
| Micron Technology Inc | MU | 1.76% | 1.00% |
| Tesla Inc | TSLA | 1.58% | 1.00% |
Holdings only in SPY or VWCE
SPY has 62 fund-only positions representing approximately 1.5 percentage points of reported exposure; VWCE has 3198 fund-only positions representing approximately 39.2 percentage points of reported exposure. These are positions whose normalized security identifiers appear in one issuer file but not the other.
Largest positions only in SPY
| Company | Ticker | Weight |
|---|---|---|
| Lumentum Holdings Inc | LITE | 0.13% |
| Bloom Energy Corp A | BE | 0.12% |
| Moderna Inc | MRNA | 0.10% |
| Oneok Inc | OKE | 0.09% |
| Jabil Inc | JBL | 0.05% |
| Tapestry Inc | TPR | 0.03% |
| Casey S General Stores Inc | CASY | 0.03% |
| Viatris Inc | VTRS | 0.03% |
| Amcor Plc | AMCR | 0.03% |
| Cf Industries Holdings Inc | CF | 0.03% |
Largest positions only in VWCE
| Company | Ticker | Weight |
|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | 2330 | 1.70% |
| Samsung Electronics Co Ltd | 005930 | 0.81% |
| SK hynix Inc | 000660 | 0.63% |
| ASML Holding NV | ASML | 0.60% |
| Tencent Holdings Ltd | 700 | 0.33% |
| HSBC Holdings PLC | HSBA | 0.33% |
| Roche Holding AG | ROP | 0.28% |
| Novartis AG | NOVN | 0.26% |
| Alibaba Group Holding Ltd | 9988 | 0.26% |
| Royal Bank of Canada | RY | 0.26% |
FAQ
How much do SPY and VWCE overlap?
SPY and VWCE have 59.6% overlap by weight, sharing 441 equity positions (out of 503 in SPY and 3639 in VWCE). The official holdings files used are dated 2026-09-21 for SPY and 2026-08-31 for VWCE.
What does 59.6% overlap mean?
SPY and VWCE share a material portion of their portfolio weight in the same underlying stocks. OverlapCheck labels this "moderate holdings overlap" using house ranges of 70% or more, 30% to under 70%, and under 30%. These descriptive ranges are not industry standards or investment guidance. Holdings overlap does not measure correlation, volatility, geographic or factor exposure, fees, or suitability.
Which stocks do SPY and VWCE both hold?
The largest shared positions are Nvidia Corp, Apple Inc, Microsoft Corp, Amazon.Com Inc, Alphabet Inc Cl A. The top shared holdings with weights in each fund are shown on this page.
What holdings are different between SPY and VWCE?
SPY has 62 positions not found in VWCE, while VWCE has 3198 positions not found in SPY. The largest fund-only positions and their weights are shown on this page.
Related comparisons
One side of this pair is a UCITS ETF. How share classes and listings map to one fund, and which popular UCITS combinations repeat the same US mega-caps, is covered in ETF overlap for European investors.