🔎 Portfolio Look-Through & Overlap Tool
ETF Overlap & True Concentration Risk Screener
Think you are diversified? Most retail investors unknowingly hold the same 5 mega-cap tech stocks across multiple index funds. Run a live look-through analysis across your ETFs to expose single-stock concentration, sector tilts, and duplicative expense drag.
⚖️ Select Your ETF Allocation (Up to 6)
Add ETFs and set your target weights. Real-time look-through calculates your true single-stock and sector exposure.
Allocation Total: 100%
Executive Summary (Equal Allocation)
Analyzing Portfolio Allocation...
Calculating --%
Analyzing look-through constituent overlap, fee drag, and single-stock concentration...
Top 5 Concentration --%
Top 10 Concentration --%
Unique Holdings --
Blended Fee --%
Largest Shared Holdings
🔄 Pairwise ETF Overlap & Redundancy Analysis
Calculating...High overlap between two funds means you are paying multiple expense ratios for virtually the same underlying companies.
🔍 True Underlying Stock Exposure (Look-Through)
Your real aggregate ownership in single stocks after multiplying your ETF allocations by each fund's holdings.
Concentration Heatmap (Top Holdings)
High (>6%) Moderate (3%–6%) Diversified (<3%)
Detailed Holdings Breakdown
| Stock / Company | Effective Weight | Contributing ETFs |
|---|
📊 Sector Exposures vs Broad Market Benchmark (VTI)
Shows where your ETF combination is heavily overweight (concentrated tilt) or underweight compared to the total US stock market.
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Download the Ideal Low-Overlap ETF Model Portfolios Guide
Discover proven low-overlap ETF combinations, 3-fund asset splits, and common high-overlap duplication traps across Vanguard, Schwab, and iShares.
- ✓ 5 proven low-overlap model portfolios
- ✓ High-overlap duplication traps to avoid
- ✓ 3 golden rules of portfolio diversification
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Popular ETF Comparisons & Battles
Quickly filter pre-computed overlap breakdowns across core market pairings, tech tilts, dividends, and classic 3-fund portfolios.
1. Core Broad Market Matchups
5 matchups VOO · VTI 90% overlap
Vanguard S&P 500 ETF + Vanguard Total Stock Market ETF
VOO · SPY 100% overlap
Vanguard S&P 500 ETF + SPDR S&P 500 ETF Trust
VOO · IVV 100% overlap
Vanguard S&P 500 ETF + iShares Core S&P 500 ETF
VOO · SPLG 100% overlap
Vanguard S&P 500 ETF + SPDR Portfolio S&P 500 ETF
VT · VTI 100% overlap
Vanguard Total World Stock ETF + Vanguard Total Stock Market ETF
2. Growth, Tech & Semiconductor Overlap
8 matchups VOO · QQQ 53% overlap
Vanguard S&P 500 ETF + Invesco QQQ Trust
VTI · QQQ 47% overlap
Vanguard Total Stock Market ETF + Invesco QQQ Trust
QQQ · VUG 97% overlap
Invesco QQQ Trust + Vanguard Growth ETF
VOO · VUG 55% overlap
Vanguard S&P 500 ETF + Vanguard Growth ETF
SCHG · SCHD 7% overlap
Schwab U.S. Large-Cap Growth ETF + Schwab U.S. Dividend Equity ETF
ARKK · QQQ 4% overlap
ARK Innovation ETF + Invesco QQQ Trust
SMH · SOXX 100% overlap
VanEck Semiconductor ETF + iShares Semiconductor ETF
XLK · VGT 100% overlap
Technology Select Sector SPDR Fund + Vanguard Information Technology ETF
3. Dividend, Cash Flow & Value Strategies
6 matchups SCHD · VYM 22% overlap
Schwab U.S. Dividend Equity ETF + Vanguard High Dividend Yield ETF
VOO · SCHD 6% overlap
Vanguard S&P 500 ETF + Schwab U.S. Dividend Equity ETF
VTI · SCHD 5% overlap
Vanguard Total Stock Market ETF + Schwab U.S. Dividend Equity ETF
QQQ · SCHD 7% overlap
Invesco QQQ Trust + Schwab U.S. Dividend Equity ETF
VUG · VTV 6% overlap
Vanguard Growth ETF + Vanguard Value ETF
JEPI · JEPQ 100% overlap
JPMorgan Equity Premium Income ETF + JPMorgan Nasdaq Equity Premium Income ETF
4. Global Diversification, Caps & Fixed Income
7 matchups VTI · VXUS 0% overlap
Vanguard Total Stock Market ETF + Vanguard Total International Stock ETF
VOO · VXUS 0% overlap
Vanguard S&P 500 ETF + Vanguard Total International Stock ETF
VT · VXUS 0% overlap
Vanguard Total World Stock ETF + Vanguard Total International Stock ETF
VEA · VWO 0% overlap
Vanguard FTSE Developed Markets ETF + Vanguard FTSE Emerging Markets ETF
IWM · VB 100% overlap
iShares Russell 2000 ETF + Vanguard Small-Cap ETF
VO · IJH 100% overlap
Vanguard Mid-Cap ETF + iShares Core S&P Mid-Cap ETF
BND · AGG 100% overlap
Vanguard Total Bond Market ETF + iShares Core U.S. Aggregate Bond ETF
5. Sector-Specific Redundancies
4 matchups6. Classic 3-Fund & Multi-Asset Portfolios
10 matchups VOO · QQQ · SCHD 22% overlap
The Reddit Trio
VTI · VXUS · BND 0% overlap
The Traditional Bogleheads 3-Fund
VOO · VXUS · BND 0% overlap
Vanguard S&P 500 ETF + Vanguard Total International Stock ETF + Vanguard Total Bond Market ETF
VTI · SCHD · VXUS 2% overlap
Vanguard Total Stock Market ETF + Schwab U.S. Dividend Equity ETF + Vanguard Total International Stock ETF
VTI · QQQ · SCHD 20% overlap
Vanguard Total Stock Market ETF + Invesco QQQ Trust + Schwab U.S. Dividend Equity ETF
VOO · VUG · SCHD 23% overlap
Vanguard S&P 500 ETF + Vanguard Growth ETF + Schwab U.S. Dividend Equity ETF
SCHD · DGRO · VIG 48% overlap
The Dividend Trifecta
SPY · QQQ · IWM 18% overlap
Large vs Tech vs Small
VOO · SCHD · JEPI 18% overlap
Growth + Dividend + Covered Call
VGT · SMH · QQQ 38% overlap
Aggressive Tech Triple-Down
No ETF comparisons found matching your search. Try another ticker like VOO, QQQ, or SCHD.
Why Multiple ETFs Often Fail to Provide Diversification
Modern retail investors frequently construct portfolios by adding popular funds: a core S&P 500 ETF, a high-growth tech fund, and a dividend appreciation ETF. While this feels like holding three distinct assets, market-cap weighting means these funds frequently purchase the exact same underlying companies.
1. Accidental Mega-Cap Exposure
If you allocate 50% to VOO and 50% to QQQ, your effective allocation to Apple, Microsoft, and NVIDIA exceeds 20% of your entire portfolio.
2. Duplicative Expense Ratios
Holding VOO (0.03% expense ratio) alongside SPY (0.09%) or SPLG (0.02%) generates zero diversification benefits while forcing redundant rebalancing.
3. False Sense of Security
Holding 5 or 6 funds does not protect against market drawdowns when all 5 funds share identical top constituents that dictate 60% of total performance.
📚 Research Deep Dive
The Magnificent 7 & AI Bubble Trap: Are You Overexposed?
Learn how market-cap weighting concentrates over 37% of your capital into 7 tech companies when pairing VOO, QQQ, and semiconductor funds, and how to stress-test your portfolio.
Looking for Our Model Portfolios?
View Low-Cost Funds & ETFs →
Explore Recommended Index Funds & Brokerage Equivalents
Browse our curated list of 10 low-cost index funds across Vanguard and Fidelity with fee benchmarks and automation guides.
❓ Common Questions
Frequently Asked Questions About ETF Overlap
Direct answers on portfolio concentration, index fund duplication, and look-through methodology.
What is ETF look-through analysis?
ETF look-through analysis examines the actual underlying individual stocks owned inside each ETF in your portfolio. Rather than treating an ETF as a single asset, it multiplies your fund allocation by each constituent stock weighting to calculate your true effective ownership in individual companies.
Why is ETF overlap dangerous for retail investors?
High ETF overlap creates the illusion of diversification while actually magnifying single-stock concentration and expense drag. For example, owning both VOO (S&P 500) and QQQ (Nasdaq 100) concentrates over 25% of your total capital into just five mega-cap tech stocks, leaving you vulnerable to sharp drawdowns in those specific companies.
How do you calculate overlap percentage between two ETFs?
Pairwise overlap is calculated by summing the minimum shared weight of each identical stock held by both funds: SUM(min(Weight_fundA, Weight_fundB)). If two funds hold the exact same stocks at the same proportions, their overlap is 100%.
How often are the ETF constituent holdings and overlap weights updated?
Holdings data and portfolio weights are synchronized directly with official quarterly SEC regulatory filings and fund provider disclosures across Vanguard, BlackRock iShares, Charles Schwab, and Invesco.
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