SPHD vs VPU overlap - what they share and where they differ
SPHD and VPU share 12.2% of their weight across 8 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
SPHD and VPU
12.2%
8 shared positions
SPHD
Invesco S&P 500 High Dividend Low Volatility ETF
Reported positions cover 99% of the fund, 49 positions · May 31, 2026
Top 10: 29.1%·Holdings of SPHD
VPU
VANGUARD UTILITIES INDEX FUND
Reported positions cover 100% of the fund, 65 positions · May 31, 2026
Top 10: 52.6%·Holdings of VPU
Reported positions cover SPHD 99%, VPU 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
VPU vs SPHD side by side
SPHDInvesco S&P 500 High Dividend Low Volatility ETF
49
stock positions reported to the SEC
85.6% of its weight is in 41 names VPU does not hold
VPUVANGUARD UTILITIES INDEX FUND
65
stock positions reported to the SEC
79.1% of its weight is in 57 names SPHD does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Utilities: VPU has 71.4 points more of it.
The figures side by side
| SPHD | VPU | |
|---|---|---|
| Filing date | May 31, 2026 | May 31, 2026 |
| Stock positions reported | 49 | 65 |
| Weight of the ten largest | 29.1% | 52.6% |
| Largest position | VZ 3.5% | NEE 11.9% |
| Held alone | 41 positions, 85.6% | 57 positions, 79.1% |
| Covered by stock positions | 99% | 100% |
Holdings they share
| Stock | In SPHD | In VPU | Counted |
|---|---|---|---|
| DDominion Energy, Inc. | 2.13% | 3.76% | 2.13% |
| EVERSOURCE ENERGY | 1.82% | 1.69% | 1.69% |
| FEFirstEnergy Corp. | 1.64% | 1.68% | 1.64% |
| EXCExelon Corp. | 1.59% | 3.03% | 1.59% |
| DUKDuke Energy Corp. | 1.58% | 6.28% | 1.58% |
| DTEDTE Energy Co. | 1.53% | 1.95% | 1.53% |
| EVRGEvergy, Inc. | 1.69% | 1.24% | 1.24% |
| PNWPinnacle West Capital Corp. | 1.84% | 0.79% | 0.79% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in SPHD
Only in VPU
Questions people ask
Is SPHD the same as VPU?
12.2% of their weight sits in the same 8 holdings. SPHD also reports VZ, MO, DOC, which the other does not. VPU also reports NEE, SO, CEG, which the other does not.
How is the overlap between SPHD and VPU measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 99% of SPHD and 100% of VPU, so the number cannot exceed the smaller coverage.
Which holds more, VPU or SPHD?
SPHD reports 49 stock positions and VPU reports 65. 85.6% of SPHD's weight sits in names VPU does not hold, and 79.1% of VPU's weight in names SPHD does not hold. The ten largest positions are 29.1% of SPHD and 52.6% of VPU.
How do SPHD and VPU differ by sector?
The widest gap is Utilities: VPU has 71.4 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
Other pairs with these funds
VPU against other funds in the table
Add a third fund in the tool·All fund pairs
Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.