SPLV vs VPU overlap - what they share and where they differ
SPLV and VPU share 24.5% of their weight across 22 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.
SPLV and VPU
24.5%
22 shared positions
SPLV
Invesco S&P 500 Low Volatility ETF
Reported positions cover 100% of the fund, 100 positions · May 31, 2026
Top 10: 12.5%·Holdings of SPLV
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 SPLV 100%, 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 SPLV side by side
SPLVInvesco S&P 500 Low Volatility ETF
100
stock positions reported to the SEC
74.7% of its weight is in 78 names VPU does not hold
VPUVANGUARD UTILITIES INDEX FUND
65
stock positions reported to the SEC
40.8% of its weight is in 43 names SPLV does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Utilities: VPU has 61.1 points more of it.
The figures side by side
| SPLV | VPU | |
|---|---|---|
| Filing date | May 31, 2026 | May 31, 2026 |
| Stock positions reported | 100 | 65 |
| Weight of the ten largest | 12.5% | 52.6% |
| Largest position | FE 1.3% | NEE 11.9% |
| Held alone | 78 positions, 74.7% | 43 positions, 40.8% |
| Covered by stock positions | 100% | 100% |
Holdings they share
| Stock | In SPLV | In VPU | Counted |
|---|---|---|---|
| FEFirstEnergy Corp. | 1.34% | 1.68% | 1.34% |
| DUKDuke Energy Corp. | 1.25% | 6.28% | 1.25% |
| AEEAmeren Corp. | 1.24% | 1.92% | 1.24% |
| WECWEC Energy Group Inc. | 1.24% | 2.38% | 1.24% |
| CNPCenterPoint Energy, Inc. | 1.23% | 1.82% | 1.23% |
| DTEDTE Energy Co. | 1.22% | 1.95% | 1.22% |
| EVRGEvergy, Inc. | 1.22% | 1.24% | 1.22% |
| CMSCMS Energy Corp. | 1.18% | 1.45% | 1.18% |
| SOSouthern Co. (The) | 1.16% | 6.67% | 1.16% |
| ATOAtmos Energy Corp. | 1.14% | 1.80% | 1.14% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in SPLV
Only in VPU
Questions people ask
Is SPLV the same as VPU?
24.5% of their weight sits in the same 22 holdings. SPLV also reports L, BRK.A, O, which the other does not. VPU also reports NEE, CEG, VST, which the other does not.
How is the overlap between SPLV 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 100% of SPLV and 100% of VPU, so the number cannot exceed the smaller coverage.
Which holds more, VPU or SPLV?
SPLV reports 100 stock positions and VPU reports 65. 74.7% of SPLV's weight sits in names VPU does not hold, and 40.8% of VPU's weight in names SPLV does not hold. The ten largest positions are 12.5% of SPLV and 52.6% of VPU.
How do SPLV and VPU differ by sector?
The widest gap is Utilities: VPU has 61.1 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.