etf overlap · little overlap
SPY vs XLV overlap
9.3% of SPY and XLV is the same money, spread over 61 companies both funds hold.
Holdings as of September 24, 2026 · source: SPDR (SPY), SPDR (XLV)
- same money
- same companies, extra weight
- only in this fund
The companies you would own twice
What only one of them gives you
AMZNAMAZON.COM INC3.69%Where each fund puts its money
SPY and XLV: what people ask
How much do SPY and XLV overlap?
9.3% by weight, as of September 24, 2026: little overlap. 61 companies appear in both funds; they make up 9.3% of SPY and 100% of XLV.
Which stocks do SPY and XLV both hold?
The largest shared positions are LLY, JNJ, ABBV, MRK and UNH. Ranked by the smaller of the two weights, which is the part you would own twice.
Is it redundant to hold both SPY and XLV?
Out of every $100 split evenly between them, about $9 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 443 names only in SPY, 1 only in XLV. 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.
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.