SPY vs XAR: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XARState Street® SPDR® S&P® Aerospace & Defense ETF
State Street (SPDR) · 47 holdings · $6.4B · as of 2026-08-06
How similar are SPY and XAR?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® SPDR® S&P® Aerospace & Defense ETF (XAR, by State Street (SPDR)) holds 47. They have 12 holdings in common, and by portfolio weight the two funds are 2.2% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 12SPY holds 504 · XAR holds 47
- Weight in Shared Holdings
- SPY 2%·XAR 34%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 SPY
492 of 504 positions (97.7% of the fund) are not held by XAR. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | XAR |
|---|---|---|
| Industrials | 8.8% | 98.4% |
| Information Technology | 37.6% | 0.0% |
| Financials | 12.3% | 0.0% |
| Communication Services | 9.7% | 0.0% |
| Consumer Discretionary | 9.3% | 0.0% |
| Other Sectors | 22.3% | 0.0% |
| Unclassified | 0.0% | 1.6% |
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 (0% of SPY, 2% of XAR).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
| XAR | +2.7% | +19.0% | +33.7% | +33.2% | +18.5% | +18.1% | 0.28% |
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 SPY vs XAR →
Shared Holdings(12)
The top 10 shared positions account for 98% of the overlap, led by GE, RTX and BA.
 GEGeneral Electric Co. | 0.59% | 3.04% | 0.59% |
|---|---|---|---|
 RTXRTX Corp. COM | 0.45% | 3.26% | 0.45% |
 BABoeing Co. (The) | 0.28% | 2.87% | 0.28% |
 LMTLockheed Martin Corporation COM | 0.18% | 2.87% | 0.18% |
 HWMHowmet Aerospace Inc COM | 0.17% | 3.00% | 0.17% |
 GDGeneral Dynamics Corporation COM | 0.15% | 2.94% | 0.15% |
 NOCNorthrop Grumman Corporation COM | 0.11% | 2.71% | 0.11% |
 TDGTransdigm Group Inc. COM | 0.11% | 2.69% | 0.11% |
 LHXL3 Harris Technologies Inc COM | 0.08% | 2.47% | 0.08% |
 AXONAxon Enterprise Inc COM | 0.06% | 3.02% | 0.06% |
 TXTTextron Inc. COM | 0.02% | 2.49% | 0.02% |
 HIIHuntington Ingalls Industries, Inc. COM | 0.02% | 2.88% | 0.02% |
Frequently Asked Questions
How much do SPY and XAR overlap?
SPY and XAR overlap by 2.2% of portfolio weight. They share 12 holdings (SPY holds 504 positions and XAR holds 47), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XAR?
The two portfolios are 2.2% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of SPY and XAR?
The largest positions held by both funds are GE, RTX, BA, LMT and HWM. Together the top 10 shared positions account for 98% of the total overlap.
What does SPY own that XAR doesn't?
492 positions (97.7% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 35 positions (65.7% of XAR) are unique to XAR.