EMLP vs SPY: Holdings Overlap
EMLPFirst Trust North American Energy Infrastructure Fund
First Trust · 63 holdings · $4.2B · as of 2026-04-30
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (EMLP: 2026-04-30, SPY: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are EMLP and SPY?
First Trust North American Energy Infrastructure Fund (EMLP, by First Trust) holds 63 positions; State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504. They have 32 holdings in common, and by portfolio weight the two funds are 2.5% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 32EMLP holds 63 · SPY holds 504
- Weight in Shared Holdings
- EMLP 45%·SPY 3%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in EMLP
31 of 63 positions (48.6% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | EMLP | SPY |
|---|---|---|
| Utilities | 45.6% | 2.0% |
| Energy | 39.5% | 3.2% |
| Information Technology | 0.0% | 37.6% |
| Financials | 0.0% | 12.3% |
| Communication Services | 0.0% | 9.7% |
| Other Sectors | 3.6% | 35.1% |
| Unclassified | 4.4% | 0.0% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts. “Unclassified” is weight we could not classify (5% of EMLP, 0% of SPY).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| EMLP | -1.5% | +16.3% | +17.6% | +20.5% | +16.2% | +9.9% | 2.80% |
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in EMLP vs SPY →
Shared Holdings(32)
The top 10 shared positions account for 56% of the overlap, led by NEE, SO and PWR.
 NEENextEra Energy Inc COM | 1.27% | 0.27% | 0.27% |
|---|---|---|---|
 SOSouthern Co. (The) | 2.67% | 0.16% | 0.16% |
 PWRQuanta Services, Inc. COM | 1.25% | 0.15% | 0.15% |
 DUKDuke Energy Corp COM NEW | 1.93% | 0.15% | 0.15% |
 CMICummins Inc. COM | 0.80% | 0.13% | 0.13% |
 WMBWilliams Companies Inc. (The) COM | 1.55% | 0.13% | 0.13% |
 CEGConstellation Energy Corp. COM | 0.40% | 0.13% | 0.13% |
 AEPAmerican Electric Power Co, Inc. COM | 2.06% | 0.10% | 0.10% |
 KMIKinder Morgan, Inc. COM | 3.69% | 0.09% | 0.09% |
 DDominion Energy Inc COM | 1.35% | 0.09% | 0.09% |
 TRGPTarga Resources Corp. COM | 1.12% | 0.09% | 0.09% |
 OKEOneok Inc. COM | 2.06% | 0.08% | 0.08% |
 SRESempra COM | 1.82% | 0.08% | 0.08% |
 ETREntergy Corporation COM | 2.43% | 0.07% | 0.07% |
 XELXcel Energy Inc COM | 1.30% | 0.07% | 0.07% |
 EXCExelon Corp. COM | 0.21% | 0.07% | 0.07% |
 VSTVistra Corp. COMMON STOCK | 1.11% | 0.07% | 0.07% |
 PCGPGandE CORP COMMON STOCK | 0.42% | 0.06% | 0.06% |
 PEGPublic Service Enterprise Group Incorporated COM | 1.62% | 0.06% | 0.06% |
 WECWEC Energy Group Inc. COM | 1.45% | 0.05% | 0.05% |
 AEEAmeren Corp. COM | 0.97% | 0.05% | 0.05% |
 DTEDTE Energy Co. COM | 1.50% | 0.04% | 0.04% |
 ATOAtmos Energy Corp. COM | 1.19% | 0.04% | 0.04% |
 CNPCenterpoint Energy Inc COM | 1.34% | 0.04% | 0.04% |
 PPLPPL Corporation COM | 2.52% | 0.04% | 0.04% |
Frequently Asked Questions
How much do EMLP and SPY overlap?
EMLP and SPY overlap by 2.5% of portfolio weight. They share 32 holdings (EMLP holds 63 positions and SPY holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both EMLP and SPY?
The two portfolios are 2.5% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of EMLP and SPY?
The largest positions held by both funds are NEE, SO, PWR, DUK and CMI. Together the top 10 shared positions account for 56% of the total overlap.
What does EMLP own that SPY doesn't?
31 positions (48.6% of EMLP) are unique to EMLP, led by Energy Transfer LP, Enterprise Products Partners LP and MPLX LP COM UNIT REP LTD. In the other direction, 472 positions (97.4% of SPY) are unique to SPY.