MSCI World or S&P 500?
The two indices share 68.1 % of their weight across 416 companies, and their daily returns correlate at 0.98. Holding both means buying much of the same thing twice — little is gained in spread, the weights simply shift.
Side by side
| MSCI World | S&P 500 | |
|---|---|---|
| Holdings covered | 1,147 | 468 |
| Volatility | 15.8 % | 16.9 % |
| Max drawdown | -16.9 % | -19.0 % |
| Cheapest ETF we cover | SPPW · 0.12 % | SPYL · 0.03 % |
The largest shared positions
| Company | MSCI World | S&P 500 |
|---|---|---|
| NVIDIA Corporation | 5.49 % | 8.00 % |
| Apple Inc. | 4.98 % | 6.92 % |
| Microsoft Corporation | 3.83 % | 5.60 % |
| Amazon.com Inc. | 2.86 % | 4.02 % |
| Alphabet Inc. Class A | 2.26 % | 3.16 % |
| Broadcom Inc. | 2.05 % | 3.00 % |
| Alphabet Inc. Class C | 1.79 % | 2.54 % |
| META Platforms Inc. Class A | 1.41 % | 1.96 % |
| Micron Technology Inc. | 1.08 % | 1.50 % |
| Eli Lilly and Company | 1.04 % | 1.42 % |
Overlap and shared positions are computed from the holdings of one representative ETF each (XDWD and SPYL); of those we could attribute 93.4 % and 97.4 % of fund weight to individual companies, so real overlap is likely a little higher. The correlation covers 520 shared trading days.