XLU vs CNDX overlap

1.1% by weight, as of October 14, 2026: little overlap. 4 companies appear in both funds; they make up 19% of XLU and 1.1% of CNDX.

The largest shared positions are CEG, AEP, XEL and EXC. Ranked by the smaller of the two weights, which is the part you would own twice.

Out of every $100 split evenly between them, about $1 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 27 names only in XLU, 97 only in CNDX. Half in each behaves like 48 equally weighted stocks, against 20 for XLU alone and 31 for CNDX alone. Whether that duplication is a problem depends on the mix you want; this is a description, not advice.

CNDX is iShares Nasdaq 100 UCITS ETF (ISIN IE00B53SZB19), an Irish-domiciled UCITS fund on the Nasdaq-100 index. Next to XLU, 1.1% of the money is the same, spread over 4 companies both hold, as of October 14, 2026.

Yes. CNDX also trades as CNX1 (London, GBP), SXRV (Xetra, EUR) and CSNDX (Borsa Italiana, EUR). Each is the same portfolio in another currency, on another exchange or paying its dividends out, so XLU vs SXRV also overlaps 1.1%.

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 and iShares 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.