# The most duplicated US ETF pairs

EZU and HEZU overlap by 99.9%, the most of 117,855 pairs across 486 US ETFs. The 25 most duplicated pairs, with issuer file dates.

Canonical page: https://tickerinside.com/most-duplicated-etf-pairs/
Holdings from the issuer files behind the pairs listed, dated 2026-07-31 to 2026-09-05. Prices through 2026-09-04.
Licence: CC BY 4.0, attribution to TickerInside. Measurements, not investment advice.

Of the 117,855 pairs that the 486 US ETFs with a page here can form, the two funds that duplicate each other most are EZU and HEZU: 99.9% of their weight sits in the same 215 companies, on issuer files dated 2026-09-03. The median pair overlaps by 0.4%, 1.1% of pairs sit above 60% and 0.1% above 90%. Hold both funds of a pair near the top of this page and you add weight to the same companies rather than to new ones.

## Which US ETF pairs are the most duplicated?

EZU and HEZU lead at 99.9%, followed by SPY and SPYM at 99.8% and EWJ and HEWJ at 99.8%. The 25 pairs below involve 35 funds; 12 of the pairs overlap by 98% or more inside one category, which is the rule this page uses for two funds tracking the same index, and 10 of the 25 pair funds from two different issuers. The lowest figure in the table is 96.3%, for PBUS and SPYM.

| Rank | Pair | Overlap by weight | Of the first held in the second | Of the second held in the first | Companies in both | Issuer files | Read |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | EZU and HEZU (iShares MSCI Eurozone ETF, iShares Currency Hedged MSCI Eurozone ETF) | 99.9% | 100.0% | 50.0% | 215 | 2026-09-03 | https://tickerinside.com/overlap/?q=EZU%20HEZU |
| 2 | SPY and SPYM (SPDR S&P 500 ETF Trust, State Street SPDR Portfolio S&P 500 ETF) | 99.8% | 100.0% | 100.0% | 504 | 2026-09-03 | https://tickerinside.com/overlap/?q=SPY%20SPYM |
| 3 | EWJ and HEWJ (iShares MSCI Japan ETF, iShares Currency Hedged MSCI Japan ETF) | 99.8% | 100.0% | 49.9% | 167 | 2026-09-03 | https://tickerinside.com/overlap/?q=EWJ%20HEWJ |
| 4 | EEM and HEEM (iShares MSCI Emerging Markets ETF, iShares Currency Hedged MSCI Emerging Markets ETF) | 99.6% | 100.0% | 49.9% | 1177 | 2026-09-03 | https://tickerinside.com/overlap/?q=EEM%20HEEM |
| 5 | SLYG and VIOG (State Street SPDR S&P 600™ Small Cap Growth ETF, Vanguard S&P Small-Cap 600 Growth ETF) | 99.5% | 100.0% | 100.0% | 349 | 2026-09-03 and 2026-09-04 | https://tickerinside.com/overlap/?q=SLYG%20VIOG |
| 6 | ACWX and HAWX (iShares MSCI ACWI ex U.S. ETF, iShares Currency Hedged MSCI ACWI ex U.S. ETF) | 99.4% | 100.0% | 49.8% | 1846 | 2026-09-03 | https://tickerinside.com/overlap/?q=ACWX%20HAWX |
| 7 | EFA and HEFA (iShares MSCI EAFE ETF, iShares Currency Hedged MSCI EAFE ETF) | 99.4% | 100.0% | 49.9% | 654 | 2026-09-03 | https://tickerinside.com/overlap/?q=EFA%20HEFA |
| 8 | IVE and SPYV (iShares S&P 500 Value ETF, SPDR Portfolio S&P 500 Value ETF) | 99.2% | 100.0% | 100.0% | 436 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVE%20SPYV |
| 9 | MDY and SPMD (SPDR S&P MidCap 400 ETF, State Street SPDR Portfolio S&P 400™ Mid Cap ETF) | 99.2% | 100.0% | 100.0% | 400 | 2026-09-03 | https://tickerinside.com/overlap/?q=MDY%20SPMD |
| 10 | QQQ and QQQM (Invesco QQQ Trust, Invesco Nasdaq 100 ETF) | 99.2% | 100.0% | 100.0% | 101 | 2026-09-05 | https://tickerinside.com/compare/qqq-vs-qqqm/ |
| 11 | VTHR and VTI (Vanguard Russell 3000 ETF, Vanguard Total Stock Market ETF) | 98.4% | 99.2% | 99.4% | 2811 | 2026-07-31 | https://tickerinside.com/overlap/?q=VTHR%20VTI |
| 12 | IWB and IYY (iShares Russell 1000 ETF, iShares Dow Jones U.S. ETF) | 98.1% | 98.7% | 99.2% | 901 | 2026-09-03 | https://tickerinside.com/overlap/?q=IWB%20IYY |
| 13 | IVV and SPY (iShares Core S&P 500 ETF, SPDR S&P 500 ETF Trust) | 97.8% | 98.6% | 98.6% | 501 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVV%20SPY |
| 14 | IVV and SPYM (iShares Core S&P 500 ETF, State Street SPDR Portfolio S&P 500 ETF) | 97.8% | 98.6% | 98.6% | 501 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVV%20SPYM |
| 15 | IVW and SPYG (iShares S&P 500 Growth ETF, SPDR Portfolio S&P 500 Growth ETF) | 97.2% | 97.4% | 97.4% | 147 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVW%20SPYG |
| 16 | ITOT and IWV (iShares Core S&P Total U.S. Stock Market ETF, iShares Russell 3000 ETF) | 96.7% | 99.5% | 99.3% | 2323 | 2026-09-03 | https://tickerinside.com/overlap/?q=ITOT%20IWV |
| 17 | ILCB and IVV (iShares Morningstar U.S. Equity ETF, iShares Core S&P 500 ETF) | 96.7% | 96.9% | 98.7% | 436 | 2026-09-03 | https://tickerinside.com/overlap/?q=ILCB%20IVV |
| 18 | VOO and VV (Vanguard S&P 500 ETF, Vanguard Morningstar Large-Cap ETF) | 96.5% | 97.6% | 98.4% | 397 | 2026-07-31 | https://tickerinside.com/overlap/?q=VOO%20VV |
| 19 | SPYM and SPYX (State Street SPDR Portfolio S&P 500 ETF, State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) | 96.4% | 96.5% | 100.0% | 488 | 2026-09-03 | https://tickerinside.com/overlap/?q=SPYM%20SPYX |
| 20 | SPYV and VOOV (SPDR Portfolio S&P 500 Value ETF, Vanguard S&P 500 Value ETF) | 96.4% | 99.7% | 99.8% | 434 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPYV%20VOOV |
| 21 | IVE and VOOV (iShares S&P 500 Value ETF, Vanguard S&P 500 Value ETF) | 96.4% | 99.7% | 99.7% | 433 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=IVE%20VOOV |
| 22 | SPY and SPYX (SPDR S&P 500 ETF Trust, State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) | 96.3% | 96.5% | 100.0% | 487 | 2026-09-03 | https://tickerinside.com/overlap/?q=SPY%20SPYX |
| 23 | ILCB and PBUS (iShares Morningstar U.S. Equity ETF, Invesco MSCI USA ETF) | 96.3% | 97.6% | 98.0% | 483 | 2026-09-03 and 2026-09-05 | https://tickerinside.com/overlap/?q=ILCB%20PBUS |
| 24 | PBUS and SPY (Invesco MSCI USA ETF, SPDR S&P 500 ETF Trust) | 96.3% | 97.0% | 98.8% | 438 | 2026-09-05 and 2026-09-03 | https://tickerinside.com/overlap/?q=PBUS%20SPY |
| 25 | PBUS and SPYM (Invesco MSCI USA ETF, State Street SPDR Portfolio S&P 500 ETF) | 96.3% | 97.0% | 98.8% | 438 | 2026-09-05 and 2026-09-03 | https://tickerinside.com/overlap/?q=PBUS%20SPYM |

## Which pairs duplicate each other without tracking the same index?

Among funds that do not track the same index by the rule below, the most duplicated pair is IVV and SPY at 97.8%, both in Large Blend, with 501 companies in both and 98.6% of IVV also held in SPY. 12 pairs meet the same-index rule and are left out of this table. A pair on one index whose two files are dated weeks apart, or whose issuers spell a share class differently, can fall under the rule's line and land here, which is why both file dates are printed on every row.

Same index, as this page counts it: overlap by weight of 98% or more between two funds in the same Morningstar category.

| Rank | Pair | Overlap by weight | Of the first held in the second | Of the second held in the first | Companies in both | Issuer files | Read |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 1 | IVV and SPY (iShares Core S&P 500 ETF, SPDR S&P 500 ETF Trust) | 97.8% | 98.6% | 98.6% | 501 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVV%20SPY |
| 2 | IVV and SPYM (iShares Core S&P 500 ETF, State Street SPDR Portfolio S&P 500 ETF) | 97.8% | 98.6% | 98.6% | 501 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVV%20SPYM |
| 3 | IVW and SPYG (iShares S&P 500 Growth ETF, SPDR Portfolio S&P 500 Growth ETF) | 97.2% | 97.4% | 97.4% | 147 | 2026-09-03 | https://tickerinside.com/overlap/?q=IVW%20SPYG |
| 4 | ITOT and IWV (iShares Core S&P Total U.S. Stock Market ETF, iShares Russell 3000 ETF) | 96.7% | 99.5% | 99.3% | 2323 | 2026-09-03 | https://tickerinside.com/overlap/?q=ITOT%20IWV |
| 5 | ILCB and IVV (iShares Morningstar U.S. Equity ETF, iShares Core S&P 500 ETF) | 96.7% | 96.9% | 98.7% | 436 | 2026-09-03 | https://tickerinside.com/overlap/?q=ILCB%20IVV |
| 6 | VOO and VV (Vanguard S&P 500 ETF, Vanguard Morningstar Large-Cap ETF) | 96.5% | 97.6% | 98.4% | 397 | 2026-07-31 | https://tickerinside.com/overlap/?q=VOO%20VV |
| 7 | SPYM and SPYX (State Street SPDR Portfolio S&P 500 ETF, State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) | 96.4% | 96.5% | 100.0% | 488 | 2026-09-03 | https://tickerinside.com/overlap/?q=SPYM%20SPYX |
| 8 | SPYV and VOOV (SPDR Portfolio S&P 500 Value ETF, Vanguard S&P 500 Value ETF) | 96.4% | 99.7% | 99.8% | 434 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPYV%20VOOV |
| 9 | IVE and VOOV (iShares S&P 500 Value ETF, Vanguard S&P 500 Value ETF) | 96.4% | 99.7% | 99.7% | 433 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=IVE%20VOOV |
| 10 | SPY and SPYX (SPDR S&P 500 ETF Trust, State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF) | 96.3% | 96.5% | 100.0% | 487 | 2026-09-03 | https://tickerinside.com/overlap/?q=SPY%20SPYX |
| 11 | ILCB and PBUS (iShares Morningstar U.S. Equity ETF, Invesco MSCI USA ETF) | 96.3% | 97.6% | 98.0% | 483 | 2026-09-03 and 2026-09-05 | https://tickerinside.com/overlap/?q=ILCB%20PBUS |
| 12 | PBUS and SPY (Invesco MSCI USA ETF, SPDR S&P 500 ETF Trust) | 96.3% | 97.0% | 98.8% | 438 | 2026-09-05 and 2026-09-03 | https://tickerinside.com/overlap/?q=PBUS%20SPY |
| 13 | PBUS and SPYM (Invesco MSCI USA ETF, State Street SPDR Portfolio S&P 500 ETF) | 96.3% | 97.0% | 98.8% | 438 | 2026-09-05 and 2026-09-03 | https://tickerinside.com/overlap/?q=PBUS%20SPYM |
| 14 | SPYM and VOO (State Street SPDR Portfolio S&P 500 ETF, Vanguard S&P 500 ETF) | 96.2% | 99.8% | 99.9% | 500 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPYM%20VOO |
| 15 | SPY and VOO (SPDR S&P 500 ETF Trust, Vanguard S&P 500 ETF) | 96.1% | 99.8% | 99.9% | 500 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPY%20VOO |
| 16 | IVOV and MDYV (Vanguard S&P Mid-Cap 400 Value ETF, State Street SPDR S&P 400™ Mid Cap Value ETF) | 96.1% | 99.3% | 99.6% | 296 | 2026-07-31 and 2026-09-03 | https://tickerinside.com/overlap/?q=IVOV%20MDYV |
| 17 | SCHB and SPTM (Schwab U.S. Broad Market ETF, State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF) | 95.9% | 96.3% | 100.0% | 1498 | 2026-09-03 | https://tickerinside.com/overlap/?q=SCHB%20SPTM |
| 18 | IWB and IWV (iShares Russell 1000 ETF, iShares Russell 3000 ETF) | 95.9% | 100.0% | 97.6% | 1018 | 2026-09-03 | https://tickerinside.com/overlap/?q=IWB%20IWV |
| 19 | SPYG and VOOG (SPDR Portfolio S&P 500 Growth ETF, Vanguard S&P 500 Growth ETF) | 95.9% | 99.9% | 99.9% | 146 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPYG%20VOOG |
| 20 | VONE and VTHR (Vanguard Russell 1000 ETF, Vanguard Russell 3000 ETF) | 95.8% | 100.0% | 95.8% | 1024 | 2026-07-31 | https://tickerinside.com/overlap/?q=VONE%20VTHR |
| 21 | IYY and SCHX (iShares Dow Jones U.S. ETF, Schwab U.S. Large-Cap ETF) | 95.6% | 96.2% | 98.5% | 742 | 2026-09-03 | https://tickerinside.com/overlap/?q=IYY%20SCHX |
| 22 | SPSM and VIOO (State Street SPDR Portfolio S&P 600™ Small Cap ETF, Vanguard S&P Small-Cap 600 ETF) | 95.5% | 99.6% | 99.8% | 599 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SPSM%20VIOO |
| 23 | PBUS and SCHX (Invesco MSCI USA ETF, Schwab U.S. Large-Cap ETF) | 95.5% | 99.0% | 96.2% | 498 | 2026-09-05 and 2026-09-03 | https://tickerinside.com/overlap/?q=PBUS%20SCHX |
| 24 | IVOO and SPMD (Vanguard S&P Mid-Cap 400 ETF, State Street SPDR Portfolio S&P 400™ Mid Cap ETF) | 95.4% | 99.6% | 99.6% | 399 | 2026-07-31 and 2026-09-03 | https://tickerinside.com/overlap/?q=IVOO%20SPMD |
| 25 | SCHB and VTI (Schwab U.S. Broad Market ETF, Vanguard Total Stock Market ETF) | 95.3% | 99.5% | 99.3% | 2316 | 2026-09-03 and 2026-07-31 | https://tickerinside.com/overlap/?q=SCHB%20VTI |

## How is duplication measured here?

Overlap by weight is the sum, company by company, of the smaller weight each shared company has in the two funds, computed from the issuers' own holdings files. The share of one fund held in the other is the part of that fund's own weight sitting in companies the other also holds. Companies in both is a plain count. A currency-hedged fund's file lists its underlying fund beside the forwards that hedge it, so its weights can sum to about 200% and its share held in common reads near 50%. Each fund's file is dated on its issuer's own schedule, so a figure is only as current as the older of the two dates.

Method: https://tickerinside.com/how-the-numbers-are-produced/#overlap
Any other pair: https://tickerinside.com/overlap/