etf overlap tool · moderate overlap
SPY vs XLK overlap
99.9% of XLK's money sits in companies SPY also holds; 38% of the two funds is the same money, spread over 75 companies both hold.
Holdings as of October 16, 2026 · source: SPDR (SPY), SPDR (XLK) · How we measured all 1,431 pairs
- same money
- same companies, extra weight
- only in this fund
Hold SPY and XLK with other funds or stocks? The free portfolio optimizer opens SPY and XLK beside the rest of what you own: the companies you hold twice, what the funds cost a year, and where the next deposit should go. No account.
The companies you would own twice
PLTRPALANTIR TECHNOLOGIES INC A0.65%2.58%
What only one of them gives you
AMZNAMAZON.COM INC3.72%
GOOGALPHABET INC CL C2.43%
LLYELI LILLY + CO1.52%
TSLATESLA INC1.51%
Every XLK holding is also in the other fund.
Where each fund puts its money
SPY and XLK: what people ask
How much do SPY and XLK overlap?
38% by weight, as of October 16, 2026: moderate overlap. 75 companies appear in both funds; they make up 38% of SPY and 99.9% of XLK.
Which stocks do SPY and XLK both hold?
The largest shared positions are NVDA, AAPL, MSFT, AVGO and MU. Ranked by the smaller of the two weights, which is the part you would own twice.
Is it redundant to hold both SPY and XLK?
Out of every $100 split evenly between them, about $38 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 429 names only in SPY, 0 only in XLK. Half in each behaves like 25 equally weighted stocks, against 44 for SPY alone and 14 for XLK alone. Whether that duplication is a problem depends on the mix you want; this is a description, not advice.
How is ETF overlap calculated here?
For every company held by both funds we take the smaller of its two weights and add them up. The weights come from the full holdings files SPDR publish, not a top-10 sample, and companies are matched by their ISIN so share classes stay apart. Sector overlap applies the same rule to the issuers' sector labels; "behaves like N equally weighted stocks" is one over the sum of the squared weights.
Weights come from each issuer's published holdings file and are matched company by company on their ISIN. Cash, futures and currency positions are left out. This page describes what the funds hold; it is not investment advice.