Which ETFs Are the Same Bet

Duplicate and overlapping ETFs, grouped by how they actually moved rather than by what they say they track. Holding three funds from one group is holding a single position three times over — the same bet under a different ticker.

The one that catches most people

26 funds moved as a single thing over the past year — SPY, VOO and IVV among them. Different issuers, different tickers, different fact sheets, one bet. Owning several of them is not diversification; it is the same position with extra paperwork.

52 groups · 172 funds · correlation 0.995+ and volatility within 4% · one year of daily returns

26 funds State Street SPDR S&P 500 ETF Trust

Ticker	Fund	Traded per day
SPY most traded of the group	State Street SPDR S&P 500 ETF Trust	$35.1B
VOO	Vanguard S&P 500 ETF	$4.2B
IVV	iShares Core S&P 500 ETF	$3.5B
VTI	Vanguard Morningstar Total Stock Market ETF	$1.2B
SPYM	State Street SPDR Portfolio S&P 500 ETF	$856.7M
SCHX	Schwab U.S. Large-Cap ETF	$314.4M
ITOT	iShares Core S&P Total U.S. Stock Market ETF	$273.1M
IWB	iShares Russell 1000 ETF	$237.0M
SCHB	Schwab U.S. Broad Market ETF	$232.2M
VV	Vanguard Morningstar Large-Cap ETF	$87.0M
IWV	iShares Russell 3000 Fund	$73.2M
ESGU	iShares ESG Aware MSCI USA ETF	$55.7M
DFUS	Dimensional U.S. Equity Market ETF	$49.2M
SPTM	State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF	$42.5M
DFAU	Dimensional US Core Equity Market ETF	$30.4M
SCHK	Schwab 1000 Index ETF	$26.1M
VONE	Vanguard Russell 1000 ETF	$23.9M
BBUS	JPMorgan BetaBuilders U.S. Equity ETF	$22.8M
BKLC	BNY Mellon US Large Cap Core Equity ETF	$13.9M
PBUS	Invesco MSCI USA ETF	$9.7M
VTHR	Vanguard Russell 3000 ETF	$8.7M
GSUS	Goldman Sachs MarketBeta U.S. Equity ETF	$5.5M
SPYX	State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	$4.0M
IYY	iShares Dow Jones U.S. ETF	$3.1M
VOTE	TCW Transform 500 ETF	$1.5M
ILCB	iShares Morningstar Large-Cap ETF	$1.0M

10 funds iShares Bitcoin Trust ETF

Ticker	Fund	Traded per day
IBIT most traded of the group	iShares Bitcoin Trust ETF	$1.5B
BITO	ProShares Bitcoin ETF	$1.4B
FBTC	Fidelity Wise Origin Bitcoin Fund	$219.8M
GBTC	Grayscale Bitcoin Trust (BTC)	$91.9M
BITB	Bitwise Bitcoin ETF	$54.9M
ARKB	ARK 21Shares Bitcoin ETF	$39.2M
HODL	VanEck Bitcoin Trust	$20.0M
EZBC	Franklin Templeton Digital Holdings Trust Shares of Franklin Bitcoin ETF	$5.1M
BTCO	Invesco Galaxy Bitcoin ETF	$4.4M
BRRR	Coinshares Bitcoin ETF	$2.3M

7 funds SPDR Gold Shares

Ticker	Fund	Traded per day
GLD most traded of the group	SPDR Gold Shares	$2.7B
IAU	iShares Gold Trust Shares	$378.5M
GLDM	SPDR Gold MiniShares Trust	$308.0M
SGOL	abrdn Physical Gold Shares ETF	$85.5M
IAUM	iShares Gold Trust Micro Shares	$82.8M
AAAU	Goldman Sachs Physical Gold ETF Shares	$53.8M
OUNZ	VanEck Merk Gold ETF	$23.9M

6 funds iShares MSCI Emerging Index Fund

Ticker	Fund	Traded per day
EEM most traded of the group	iShares MSCI Emerging Index Fund	$1.7B
IEMG	iShares Core MSCI Emerging Markets ETF	$861.0M
AVEM	Avantis Emerging Markets Equity ETF	$147.8M
DFAE	Dimensional Emerging Core Equity Market ETF	$40.5M
DFEM	Dimensional Emerging Markets Core Equity 2 ETF	$36.2M
ESGE	iShares ESG Aware MSCI EM ETF	$34.6M

5 funds iShares MSCI EAFE ETF

Ticker	Fund	Traded per day
EFA most traded of the group	iShares MSCI EAFE ETF	$1.3B
IEFA	iShares Core MSCI EAFE ETF	$881.9M
IDEV	iShares Core MSCI International Developed Markets ETF	$102.5M
DFAI	Dimensional International Core Equity Market ETF	$56.8M
ESGD	iShares ESG Aware MSCI EAFE ETF	$23.8M

4 funds Vanguard Total International Stock ETF

Ticker	Fund	Traded per day
VXUS most traded of the group	Vanguard Total International Stock ETF	$460.0M
VEU	Vanguard FTSE All World Ex US ETF	$199.7M
IXUS	iShares Core MSCI Total International Stock ETF	$152.8M
ACWX	iShares MSCI ACWI ex U.S. ETF	$110.6M

4 funds Vanguard FTSEEuropean ETF

Ticker	Fund	Traded per day
VGK most traded of the group	Vanguard FTSEEuropean ETF	$226.3M
IEUR	iShares Core MSCI Europe ETF	$47.5M
BBEU	JPMorgan BetaBuilders Europe ETF	$19.4M
SPEU	State Street SPDR Portfolio Europe ETF	$1.6M

4 funds State Street Energy Select Sector SPDR ETF

Ticker	Fund	Traded per day
XLE most traded of the group	State Street Energy Select Sector SPDR ETF	$1.9B
VDE	Vanguard Energy ETF	$91.3M
IYE	iShares U.S. Energy ETF	$58.4M
FENY	Fidelity MSCI Energy Index ETF	$50.4M

4 funds iShares Core S&P Mid-Cap ETF

Ticker	Fund	Traded per day
IJH most traded of the group	iShares Core S&P Mid-Cap ETF	$493.9M
MDY	State Street SPDR S&P MIDCAP 400 ETF Trust	$401.4M
SPMD	State Street SPDR Portfolio S&P 400 Mid Cap ETF	$98.5M
IVOO	Vanguard S&P Mid-Cap 400 ETF	$9.0M

4 funds State Street SPDR Portfolio S&P 500 Growth ETF

Ticker	Fund	Traded per day
SPYG most traded of the group	State Street SPDR Portfolio S&P 500 Growth ETF	$268.8M
IVW	iShares S&P 500 Growth ETF	$234.3M
VOOG	Vanguard S&P 500 Growth ETF	$121.7M
IUSG	iShares Core S&P U.S. Growth ETF	$91.5M

3 funds iShares MSCI ACWI ETF

Ticker	Fund	Traded per day
ACWI most traded of the group	iShares MSCI ACWI ETF	$458.5M
VT	Vanguard Total World Stock Index ETF	$408.4M
SPGM	State Street SPDR Portfolio MSCI Global Stock Market ETF	$7.6M

3 funds iShares MSCI Japan Index Fund

Ticker	Fund	Traded per day
EWJ most traded of the group	iShares MSCI Japan Index Fund	$453.9M
BBJP	JPMorgan BetaBuilders Japan ETF	$98.0M
FLJP	Franklin FTSE Japan ETF	$35.0M

3 funds iShares U.S. Real Estate ETF

Ticker	Fund	Traded per day
IYR most traded of the group	iShares U.S. Real Estate ETF	$536.1M
VNQ	Vanguard Real Estate ETF	$300.4M
FREL	Fidelity MSCI Real Estate Index ETF	$7.3M

3 funds State Street Utilities Select Sector SPDR ETF

Ticker	Fund	Traded per day
XLU most traded of the group	State Street Utilities Select Sector SPDR ETF	$865.2M
VPU	Vanguard Utilities ETF	$43.6M
FUTY	Fidelity MSCI Utilities Index ETF	$18.3M

3 funds Vanguard Long-Term Corporate Bond ETF

Ticker	Fund	Traded per day
VCLT most traded of the group	Vanguard Long-Term Corporate Bond ETF	$299.1M
IGLB	iShares 10 Year Investment Grade Corporate Bond ETF	$65.9M
SPLB	State Street SPDR Portfolio Long Term Corporate Bond ETF	$57.8M

3 funds iShares S&P Mid-Cap 400 Value ETF

Ticker	Fund	Traded per day
IJJ most traded of the group	iShares S&P Mid-Cap 400 Value ETF	$20.0M
MDYV	State Street SPDR S&P 400 Mid Cap Value ETF	$5.5M
IVOV	Vanguard S&P Mid-Cap 400 Value ETF	$1.3M

3 funds iShares Core S&P Small-Cap ETF

Ticker	Fund	Traded per day
IJR most traded of the group	iShares Core S&P Small-Cap ETF	$490.1M
SPSM	State Street SPDR Portfolio S&P 600 Small Cap ETF	$82.2M
VIOO	Vanguard S&P Small-Cap 600 ETF	$8.6M

3 funds iShares S&P SmallCap 600 Value ETF

Ticker	Fund	Traded per day
IJS most traded of the group	iShares S&P SmallCap 600 Value ETF	$30.3M
SLYV	State Street SPDR S&P 600 Small Cap Value ETF	$20.4M
VIOV	Vanguard S&P Small-Cap 600 Value ETF	$4.8M

3 funds iShares S&P SmallCap 600 Growth ETF

Ticker	Fund	Traded per day
IJT most traded of the group	iShares S&P SmallCap 600 Growth ETF	$19.2M
SLYG	State Street SPDR S&P 600 Small Cap Growth ETF	$12.2M
VIOG	Vanguard S&P Small-Cap 600 Growth ETF	$3.4M

3 funds iShares S&P 500 Value ETF

Ticker	Fund	Traded per day
IVE most traded of the group	iShares S&P 500 Value ETF	$148.5M
IUSV	iShares Core S&P U.S. Value ETF	$60.7M
VOOV	Vanguard S&P 500 Value ETF	$15.0M

3 funds iShares Russell 1000 Growth Fund

Ticker	Fund	Traded per day
IWF most traded of the group	iShares Russell 1000 Growth Fund	$530.3M
VONG	Vanguard Russell 1000 Growth ETF	$151.6M
IWY	iShares Russell Top 200 Growth ETF	$113.4M

3 funds Vanguard FTSE Emerging Markets ETF

Ticker	Fund	Traded per day
VWO most traded of the group	Vanguard FTSE Emerging Markets ETF	$432.8M
SCHE	Schwab Emerging Markets Equity ETF	$101.9M
SPEM	State Street SPDR Portfolio Emerging Markets ETF	$95.1M

3 funds Vanguard FTSE Developed Markets ETF

Ticker	Fund	Traded per day
VEA most traded of the group	Vanguard FTSE Developed Markets ETF	$704.0M
SCHF	Schwab International Equity ETF	$209.7M
SPDW	State Street SPDR Portfolio Developed World ex-US ETF	$144.1M

3 funds State Street SPDR Portfolio Long Term Treasury ETF

Ticker	Fund	Traded per day
SPTL most traded of the group	State Street SPDR Portfolio Long Term Treasury ETF	$127.8M
VGLT	Vanguard Long-Term Treasury ETF	$96.9M
SCHQ	Schwab Long-Term U.S. Treasury ETF	$12.8M

2 funds iShares MSCI Canada Index Fund

Ticker	Fund	Traded per day
EWC most traded of the group	iShares MSCI Canada Index Fund	$90.4M
BBCA	JPMorgan BetaBuilders Canada ETF	$22.5M

2 funds Dimensional U.S. Core Equity 2 ETF

Ticker	Fund	Traded per day
DFAC most traded of the group	Dimensional U.S. Core Equity 2 ETF	$88.0M
DCOR	Dimensional US Core Equity 1 ETF	$8.2M

2 funds Schwab U.S. REIT ETF

Ticker	Fund	Traded per day
SCHH most traded of the group	Schwab U.S. REIT ETF	$124.5M
DFAR	Dimensional US Real Estate ETF	$64.6M

2 funds Direxion Daily Energy Bear 2X ETF

Ticker	Fund	Traded per day
ERY most traded of the group	Direxion Daily Energy Bear 2X ETF	$17.9M
DUG	ProShares UltraShort Energy	$1.4M

2 funds Xtrackers S&P 500 Scored & Screened ETF

Ticker	Fund	Traded per day
SNPE most traded of the group	Xtrackers S&P 500 Scored & Screened ETF	$14.4M
EFIV	State Street SPDR S&P 500 ESG ETF	$1.7M

2 funds iShares MSCI South Korea ETF

Ticker	Fund	Traded per day
EWY most traded of the group	iShares MSCI South Korea ETF	$3.4B
FLKR	Franklin FTSE South Korea ETF	$39.2M

2 funds Vanguard Communication Services ETF

Ticker	Fund	Traded per day
VOX most traded of the group	Vanguard Communication Services ETF	$41.1M
FCOM	Fidelity MSCI Communication Services Index ETF	$9.8M

2 funds Vanguard Consumer Discretion ETF

Ticker	Fund	Traded per day
VCR most traded of the group	Vanguard Consumer Discretion ETF	$21.1M
FDIS	Fidelity MSCI Consumer Discretionary Index ETF	$7.9M

2 funds Vanguard Health Care ETF

Ticker	Fund	Traded per day
VHT most traded of the group	Vanguard Health Care ETF	$64.6M
FHLC	Fidelity MSCI Health Care Index ETF	$12.3M

2 funds Vanguard Industrials ETF

Ticker	Fund	Traded per day
VIS most traded of the group	Vanguard Industrials ETF	$23.8M
FIDU	Fidelity MSCI Industrials Index ETF	$6.9M

2 funds Vanguard Materials ETF

Ticker	Fund	Traded per day
VAW most traded of the group	Vanguard Materials ETF	$11.4M
FMAT	Fidelity MSCI Materials Index ETF	$2.3M

2 funds Vanguard Financials ETF

Ticker	Fund	Traded per day
VFH most traded of the group	Vanguard Financials ETF	$56.2M
FNCL	Fidelity MSCI Financials Index ETF	$7.0M

2 funds Schwab Fundamental U.S. Large Company ETF

Ticker	Fund	Traded per day
FNDX most traded of the group	Schwab Fundamental U.S. Large Company ETF	$81.9M
FNDB	Schwab Fundamental U.S. Broad Market ETF	$4.3M

2 funds Schwab Fundamental International Equity ETF

Ticker	Fund	Traded per day
FNDF most traded of the group	Schwab Fundamental International Equity ETF	$71.0M
PXF	Invesco RAFI Developed Markets ex-U.S. ETF	$4.8M

2 funds Vanguard Consumer Staples ETF

Ticker	Fund	Traded per day
VDC most traded of the group	Vanguard Consumer Staples ETF	$30.8M
FSTA	Fidelity MSCI Consumer Staples Index ETF	$6.1M

2 funds Vanguard Information Tech ETF

Ticker	Fund	Traded per day
VGT most traded of the group	Vanguard Information Tech ETF	$528.0M
FTEC	Fidelity MSCI Information Technology Index ETF	$88.3M

2 funds VanEck Gold Miners ETF

Ticker	Fund	Traded per day
GDX most traded of the group	VanEck Gold Miners ETF	$1.7B
RING	iShares MSCI Global Gold Miners ETF	$28.0M

2 funds NEOS Nasdaq 100 High Income ETF

Ticker	Fund	Traded per day
QQQI most traded of the group	NEOS Nasdaq 100 High Income ETF	$345.1M
GPIQ	Goldman Sachs Nasdaq-100 Premium Income ETF	$79.4M

2 funds iShares S&P Mid-Cap 400 Growth ETF

Ticker	Fund	Traded per day
IJK most traded of the group	iShares S&P Mid-Cap 400 Growth ETF	$23.4M
MDYG	State Street SPDR S&P 400 Mid Cap Growth ETF	$7.7M

2 funds iShares Russell 1000 Value ETF

Ticker	Fund	Traded per day
IWD most traded of the group	iShares Russell 1000 Value ETF	$379.2M
VONV	Vanguard Russell 1000 Value ETF	$73.6M

2 funds Vanguard Morningstar Mega Cap ETF

Ticker	Fund	Traded per day
MGC most traded of the group	Vanguard Morningstar Mega Cap ETF	$25.8M
IWL	iShares Russell Top 200 ETF	$8.3M

2 funds iShares Russell 2000 Index Fund

Ticker	Fund	Traded per day
IWM most traded of the group	iShares Russell 2000 Index Fund	$7.0B
VTWO	Vanguard Russell 2000 ETF	$199.1M

2 funds iShares Russell 2000 Value ETF

Ticker	Fund	Traded per day
IWN most traded of the group	iShares Russell 2000 Value ETF	$134.8M
VTWV	Vanguard Russell 2000 Value ETF	$4.3M

2 funds iShares Russell 2000 Growth Fund

Ticker	Fund	Traded per day
IWO most traded of the group	iShares Russell 2000 Growth Fund	$140.7M
VTWG	Vanguard Russell 2000 Growth ETF	$4.5M

2 funds abrdn Physical Platinum Shares ETF

Ticker	Fund	Traded per day
PPLT most traded of the group	abrdn Physical Platinum Shares ETF	$36.4M
PLTM	GraniteShares Platinum Shares ETF	$2.9M

2 funds Invesco QQQ Trust, Series 1

Ticker	Fund	Traded per day
QQQ most traded of the group	Invesco QQQ Trust, Series 1	$27.9B
QQQM	Invesco NASDAQ 100 ETF	$1.1B

2 funds iShares Silver Trust

Ticker	Fund	Traded per day
SLV most traded of the group	iShares Silver Trust	$1.1B
SIVR	abrdn Physical Silver Shares ETF	$70.3M

2 funds iShares PHLX SOX Semiconductor Sector Index Fund

Ticker	Fund	Traded per day
SOXX most traded of the group	iShares PHLX SOX Semiconductor Sector Index Fund	$4.9B
SOXQ	Invesco PHLX Semiconductor ETF	$207.9M

How two funds get grouped

Two conditions, both required, measured from one year of daily returns:

A correlation of 0.995 or higher. Not 0.95, which is merely “similar”. At 0.995 the two series are the same series with noise.
Volatility within 4%. This is the half people leave out, and leaving it out is how you end up calling a fund and its own 2× leveraged version the same thing. A leveraged product tracks its underlying almost perfectly — correlation near 1.00 — while moving twice as far. Same direction, completely different holding.

Groups are then joined transitively. If A matches B and B matches C, all three are one group, because the question people actually have is “which of the things I own are the same thing”, not “list me every pair”.

What this does not say

That two funds moved identically is a statement about exposure, not about product. Everything below can differ between funds in the same group here, and some of it matters a great deal:

Cost. Expense ratios inside one group can differ by an order of magnitude, and over a decade that is the whole difference between them. It is also the first thing to check.
Structure. A commodity group can mix a grantor trust with a 1940-Act fund. They hold the same metal and are taxed differently.
Tax treatment, which follows from structure and from where the fund is domiciled.
Liquidity. The most-traded fund in a group has the tightest spread, which is why the table is ordered that way. For a large or frequent trade that gap can exceed the expense difference.
What happens in a dislocation. Funds that track each other in an ordinary year can separate when the underlying market stops working properly.

None of those are measurable from price history, so none of them are claimed here. What is claimed is narrow and checkable: over the past year, these moved as one.

What is covered

US-listed funds trading at least a million dollars a day with three years of history. A fund too new or too thinly traded to have a year of comparable returns cannot be grouped here, so its absence is not evidence that it has no twin.

Each fund's own page is under security pages, the correlation finder answers the opposite question — what moves like this but is not the same thing — and the rest is on the Markets overview.