Hey HN,<p>We recently launched a tool to compare ETFs that I wanted to share with the HN community. I've always found it difficult to quickly contrast important metrics between ETFs and dig into holdings. Existing tools are usually behind paywalls and provide limited functionality.<p>We let you see side-by-side data like AUM, Yield, and Expense Ratio, but it also provides full holding details and correlation and overlap details as well.<p>Correlation Data: The tool shows you which stocks and ETFs are most correlated, uncorrelated, and inversely correlated with each ETF. This can be helpful for understanding diversification and risk. We calculate this based off 1 year daily prices, using the pearson correlation method.<p>Holdings Overlap: You can see how much of one ETF's holdings are also in another ETF. This can help you identify ETFs that are essentially duplicates, or find ETFs that offer true diversification.<p>I'd love to get your feedback. There is no signup required and the tool is free to use.<p><a href="https://double.finance/p/research/etf-comparison/">https://double.finance/p/research/etf-comparison/</a><p>Examples:
SPY vs QQQ is 94.5% correlated, and had 48% overlap in their holdings: <a href="https://double.finance/p/stock/QQQ/SPY">https://double.finance/p/stock/QQQ/SPY</a>
VOO vs VUG is 94.7% correlated, and has 56% overlap in their holdings: <a href="https://double.finance/p/stock/VOO/VUG">https://double.finance/p/stock/VOO/VUG</a>
ARKK vs QQQ is 73.2% correlated, with only 10% overlap: <a href="https://double.finance/p/stock/ARKK/QQQ">https://double.finance/p/stock/ARKK/QQQ</a>
This is great, I've been looking for something like this for a while. I used to break out a spreadsheet and try to do these calculations manually.