S&P 500 or Dow Jones?
The two indices share 28.4 % of their weight across 28 companies, and their daily returns correlate at 0.89. Partly the same companies at noticeably different weights — the second index shifts the emphasis rather than doubling up.
Side by side
| S&P 500 | Dow Jones | |
|---|---|---|
| Holdings covered | 468 | 29 |
| Volatility | 16.9 % | 15.1 % |
| Max drawdown | -19.0 % | -16.5 % |
| Cheapest ETF we cover | SPYL · 0.03 % | CIND · 0.33 % |
The largest shared positions
| Company | S&P 500 | Dow Jones |
|---|---|---|
| Microsoft Corporation | 5.60 % | 5.50 % |
| Apple Inc. | 6.92 % | 3.44 % |
| Alphabet Inc. Class A | 3.16 % | 3.94 % |
| Amazon.com Inc. | 4.02 % | 3.00 % |
| NVIDIA Corporation | 8.00 % | 2.41 % |
| JPMorgan Chase & Co. | 1.44 % | 3.93 % |
| Johnson & Johnson | 0.93 % | 2.83 % |
| Visa Inc. Class A | 0.93 % | 4.08 % |
| Walmart Inc. | 0.74 % | 1.24 % |
| Cisco Systems Inc. | 0.72 % | 1.33 % |
Overlap and shared positions are computed from the holdings of one representative ETF each (SPYL and CIND); of those we could attribute 97.4 % and 98.5 % of fund weight to individual companies, so real overlap is likely a little higher. The correlation covers 520 shared trading days.