EMLP vs XLU: Holdings Overlap
EMLPFirst Trust North American Energy Infrastructure Fund
First Trust · 63 holdings · $4.2B · as of 2026-04-30
XLUState Street® Utilities Select Sector SPDR® ETF
State Street (SPDR) · 31 holdings · $23.0B · as of 2026-08-06
Holdings snapshots are 98 days apart (EMLP: 2026-04-30, XLU: 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 XLU?
First Trust North American Energy Infrastructure Fund (EMLP, by First Trust) holds 63 positions; State Street® Utilities Select Sector SPDR® ETF (XLU, by State Street (SPDR)) holds 31. They have 24 holdings in common, and by portfolio weight the two funds are 32.1% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 32.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 24EMLP holds 63 · XLU holds 31
- Weight in Shared Holdings
- EMLP 33%·XLU 87%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
39 of 63 positions (60.2% of the fund) are not held by XLU. Showing the top 30 by weight.
Sector Breakdown
| Sector | EMLP | XLU |
|---|---|---|
| Utilities | 45.6% | 99.7% |
| Energy | 39.5% | 0.0% |
| Industrials | 3.6% | 0.0% |
| Other Sectors | 0.0% | 0.0% |
| 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 XLU).
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% |
| XLU | -4.6% | +3.5% | +3.6% | +14.3% | +8.5% | +9.0% | 2.74% |
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 XLU →
Shared Holdings(24)
The top 10 shared positions account for 59% of the overlap, led by SO, ETR and AEP.
 SOSouthern Co. (The) | 2.67% | 7.71% | 2.67% |
|---|---|---|---|
 ETREntergy Corporation COM | 2.43% | 3.59% | 2.43% |
 AEPAmerican Electric Power Co, Inc. COM | 2.06% | 5.02% | 2.06% |
 DUKDuke Energy Corp COM NEW | 1.93% | 7.11% | 1.93% |
 PPLPPL Corporation COM | 2.52% | 1.92% | 1.92% |
 SRESempra COM | 1.82% | 4.06% | 1.82% |
 PEGPublic Service Enterprise Group Incorporated COM | 1.62% | 2.75% | 1.62% |
 DTEDTE Energy Co. COM | 1.50% | 2.14% | 1.50% |
 WECWEC Energy Group Inc. COM | 1.45% | 2.59% | 1.45% |
 FEFirstEnergy Corp. COM | 1.42% | 1.80% | 1.42% |
 EVRGEvergy Inc COM | 1.61% | 1.41% | 1.41% |
 DDominion Energy Inc COM | 1.35% | 4.33% | 1.35% |
 CNPCenterpoint Energy Inc COM | 1.34% | 1.96% | 1.34% |
 XELXcel Energy Inc COM | 1.30% | 3.54% | 1.30% |
 NEENextEra Energy Inc COM | 1.27% | 12.99% | 1.27% |
 ATOAtmos Energy Corp. COM | 1.19% | 2.11% | 1.19% |
 VSTVistra Corp. COMMON STOCK | 1.11% | 3.30% | 1.11% |
 AEEAmeren Corp. COM | 0.97% | 2.21% | 0.97% |
 LNTAlliant Energy Corporation COM | 0.95% | 1.32% | 0.95% |
 CMSCMS Energy Corporation COM | 0.92% | 1.61% | 0.92% |
 PCGPGandE CORP COMMON STOCK | 0.42% | 2.76% | 0.42% |
 AESAES Corp. (The) | 0.41% | 0.77% | 0.41% |
 CEGConstellation Energy Corp. COM | 0.40% | 6.15% | 0.40% |
 EXCExelon Corp. COM | 0.21% | 3.42% | 0.21% |
Frequently Asked Questions
How much do EMLP and XLU overlap?
EMLP and XLU overlap by 32.1% of portfolio weight. They share 24 holdings (EMLP holds 63 positions and XLU holds 31), based on each fund's latest SEC-reported holdings.
Is it redundant to own both EMLP and XLU?
The two portfolios are 32.1% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of EMLP and XLU?
The largest positions held by both funds are SO, ETR, AEP, DUK and PPL. Together the top 10 shared positions account for 59% of the total overlap.
What does EMLP own that XLU doesn't?
39 positions (60.2% 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, 7 positions (13.1% of XLU) are unique to XLU.