How Much Do Two ETFs Overlap? Compare Two Funds Side by Side

You own two broad ETFs — or you are deciding whether to add a second one — and the real question is simple: how much do they actually overlap? Two funds can carry different names and still hold the same mega-caps at nearly the same weights. When that happens, the second fund adds far less diversification than the label suggests.

That is the gap Pecuniator’s new Compare view closes. Load two parqet X-Ray exports side by side and it shows you, position by position, what the two funds share, what each one holds that the other does not, and where the weights really differ — all offline, on your own machine.

Why overlap matters

A second world-equity ETF feels like diversification. But if most of its weight already sits in your first fund, you largely own the same companies twice — same concentration, same top ten, just split across two tickers. Overlap is the single number that tells you whether a fund genuinely broadens your portfolio or quietly duplicates it.

That answer is almost impossible to eyeball from two long holding lists. You would have to line up thousands of ISINs by hand. Compare does it in a second.

How Compare works

Drop in two parqet X-Ray CSVs — call them A and B — and Pecuniator matches every position by ISIN, then sorts the result into four tabs:

• In both — the holdings the two funds share, with each fund’s weight and value next to each other, so you can see where they agree and where one tilts heavier.
• Only in A — what the first fund holds that the second does not.
• Only in B — what the second fund adds that the first is missing.
• Summary — the headline numbers: how many holdings each file has, how many are shared, and the overlap expressed both by weight and by value.

Put a real number on it

Percentages are useful, but money lands harder. Enter a portfolio amount, or sync it from parqet, and Compare values every position on both sides. Now Only in B is not an abstract list — it is the actual exposure the second fund would add that you do not already own, and the shared block is the position you would be doubling up on. Leave the amount blank to compare weights only.

It stays on your machine

Compare reads the two CSV files locally and does all the matching on your device. As with the rest of Pecuniator, nothing about your portfolio touches the network — no account, no upload, no tracking. The line at the bottom of the window says it plainly: local-first — no data leaves this machine.

How to compare two funds in Pecuniator

1. In parqet, open each fund or portfolio and export its X-Ray as CSV.
2. Open Pecuniator and switch to Compare.
3. Load file A and file B.
4. (Optional) Enter your portfolio amount, or sync it from parqet, to see values instead of weights alone.
5. Read across the In both, Only in A, Only in B, and Summary tabs.

Any CSV with the parqet X-Ray columns works, so you can compare two ETFs, two whole portfolios, or a single fund against your overall holdings. (None of this is investment advice — it is simply a clearer view of what you already own.)

Get it

Compare ships in Pecuniator 7.4.0. Already have the app? Just update to the latest version. New here? Pecuniator is a desktop app for macOS and Windows — see everything it does on the Pecuniator app page. It works hand in hand with parqet’s X-Ray export, and if you want the country-and-region breakdown of a single portfolio first, start with Parqet X-Ray CSV: what to do with it.