IEO vs XOP: Holdings Overlap
IEOiShares U.S. Oil & Gas Exploration & Production ETF
iShares · 46 holdings · $559M · as of 2026-03-31
XOPState Street® SPDR® S&P® Oil & Gas Exploration & Production ETF
State Street (SPDR) · 52 holdings · $3.6B · as of 2026-08-06
Holdings snapshots are 128 days apart (IEO: 2026-03-31, XOP: 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 IEO and XOP?
iShares U.S. Oil & Gas Exploration & Production ETF (IEO, by iShares) holds 46 positions; State Street® SPDR® S&P® Oil & Gas Exploration & Production ETF (XOP, by State Street (SPDR)) holds 52. They have 45 holdings in common, and by portfolio weight the two funds are 51.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 51.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 45IEO holds 46 · XOP holds 52
- Weight in Shared Holdings
- IEO 96%·XOP 91%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
Sector Breakdown
| Sector | IEO | XOP |
|---|---|---|
| Energy | 99.9% | 99.5% |
| Other Sectors | 0.0% | 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.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| IEO | +6.1% | +34.9% | +40.9% | +10.4% | +22.1% | +10.3% | 1.95% |
| XOP | +5.7% | +33.0% | +39.0% | +7.2% | +18.0% | +3.7% | 1.95% |
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 IEO vs XOP →
Shared Holdings(45)
The top 10 shared positions account for 50% of the overlap, led by VLO, MPC and PSX.
 VLOValero Energy Corp. COM | 9.07% | 2.95% | 2.95% |
|---|---|---|---|
 MPCMarathon Petroleum Corp. COM | 4.43% | 2.86% | 2.86% |
 PSXPhillips 66 COM | 7.29% | 2.84% | 2.84% |
 EXEExpand Energy Corp. COM | 3.75% | 2.61% | 2.61% |
 EQTEQT Corporation COM | 4.11% | 2.46% | 2.46% |
 COPConocoPhillips COM | 19.46% | 2.45% | 2.45% |
 EOGEOG Resources Inc. COM | 9.44% | 2.44% | 2.44% |
 FANGDiamondback Energy Inc COM | 4.81% | 2.42% | 2.42% |
 TPLTexas Pacific Land Corporation COM | 3.72% | 2.38% | 2.38% |
 OVVOvintiv Inc COM | 2.36% | 2.60% | 2.36% |
 DVNDevon Energy Corporation COM | 4.47% | 2.32% | 2.32% |
 PRPermian Resources Corporation Class A | 2.26% | 2.58% | 2.26% |
 APAAPA Corp. COM | 2.16% | 2.42% | 2.16% |
 ARAntero Resources Corporation COM | 1.78% | 2.46% | 1.78% |
 RRCRange Resources Corporation | 1.53% | 2.48% | 1.53% |
 DINOHF Sinclair Corporation | 1.40% | 2.94% | 1.40% |
 VNOMViper Energy Inc. CL A | 1.25% | 2.32% | 1.25% |
 CHRDChord Energy Corp. COM NEW | 1.16% | 2.41% | 1.16% |
 VGVenture Global, Inc., Class A | 1.08% | 2.57% | 1.08% |
 MTDRMatador Resources Company COM | 1.06% | 2.23% | 1.06% |
 SMSM Energy Co. COM | 1.01% | 2.20% | 1.01% |
 MGYMagnolia Oil & Gas Corporation CL A | 0.82% | 2.24% | 0.82% |
 MURMurphy Oil Corporation COM | 0.79% | 2.08% | 0.79% |
 CNXCNX Resources Corporation COM | 0.79% | 2.66% | 0.79% |
 CRCCalifornia Resources Corporation COM STOCK | 0.78% | 2.24% | 0.78% |
Frequently Asked Questions
How much do IEO and XOP overlap?
IEO and XOP overlap by 51.3% of portfolio weight. They share 45 holdings (IEO holds 46 positions and XOP holds 52), based on each fund's latest SEC-reported holdings.
Is it redundant to own both IEO and XOP?
The two portfolios are 51.3% 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 IEO and XOP?
The largest positions held by both funds are VLO, MPC, PSX, EXE and EQT. Together the top 10 shared positions account for 50% of the total overlap.
What does IEO own that XOP doesn't?
1 positions (3.8% of IEO) are unique to IEO, led by CTRA. In the other direction, 7 positions (9.1% of XOP) are unique to XOP.