DIA vs VEA: how much do they really overlap?
DIA (SPDR Dow Jones Industrial Average ETF, tracking the Dow Jones Industrial Average) and VEA (Vanguard FTSE Developed Markets ETF, tracking the FTSE Developed All Cap ex US) overlap by roughly 0% by weight. 0 of DIA's top 10 holdings also appear in VEA. A 50/50 blend of the two behaves like about 73 equally-weighted bets (diversification grade A). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both DIA and VEA. The weight columns show how much of each fund each name represents.
| Holding | in DIA | in VEA |
|---|
Only in DIA
SPDR Dow Jones Industrial Average ETF — US blue-chip (Dow 30). Its biggest holdings that VEA doesn’t have:
| CAT Caterpillar Inc. | 11.76% |
| GS The Goldman Sachs Group, Inc. | 11.61% |
| UNH UnitedHealth Group Incorporated | 4.78% |
| MSFT Microsoft Corporation | 4.20% |
| AMGN Amgen Inc. | 4.10% |
| GOOGL Alphabet Inc. | 4.03% |
| HD The Home Depot, Inc. | 3.99% |
| SHW The Sherwin-Williams Company | 3.92% |
Only in VEA
Vanguard FTSE Developed Markets ETF — developed ex-US. Its biggest holdings that DIA doesn’t have:
| 005930 Samsung Electronics Co. Ltd. | 2.99% |
| 000660 SK hynix Inc | 2.55% |
| ASML ASML Holding NV | 1.90% |
| HSBA HSBC Holdings plc | 0.98% |
| ROP Roche Holding AG | 0.89% |
| NOVN Novartis AG | 0.87% |
| AZN AstraZeneca plc | 0.84% |
| RY Royal Bank of Canada | 0.81% |
So — essentially different. Should you hold both?
DIA and VEA hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~73 effective positions (grade A), because they hold largely different securities.
Holdings as of — DIA: Jun 29, 2026 (State Street Global Advisors); VEA: May 31, 2026 (Vanguard). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 50); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →DIA vs VEA — FAQ
- How much do DIA and VEA overlap?
- DIA and VEA overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of DIA's 10 largest holdings are also held by VEA. They share 0 of their listed top holdings in total.
- Is it redundant to hold both DIA and VEA?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 73 positions and a A diversification grade.
- What does VEA hold that DIA doesn't?
- VEA's largest holdings that DIA doesn't hold include 005930, 000660, ASML, HSBA, ROP. Its category is developed ex-US, versus DIA's US blue-chip (Dow 30).
- Which is more concentrated, DIA or VEA?
- DIA's top 10 holdings are 59% of its listed weight; VEA's are 43%. The more concentrated fund leans harder on its largest names.