SPY vs XBI: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XBIState Street® SPDR® S&P® Biotech ETF
State Street (SPDR) · 149 holdings · $10.0B · as of 2026-08-06
How similar are SPY and XBI?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® SPDR® S&P® Biotech ETF (XBI, by State Street (SPDR)) holds 149. They have 8 holdings in common, and by portfolio weight the two funds are 1.6% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 8SPY holds 504 · XBI holds 149
- Weight in Shared Holdings
- SPY 2%·XBI 9%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
496 of 504 positions (98.3% of the fund) are not held by XBI. Showing the top 30 by weight.
Only in XBI
141 of 149 positions (91.3% of the fund) are not held by SPY. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | XBI |
|---|---|---|
| Health Care | 8.9% | 95.5% |
| 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 | 22.1% | 0.0% |
| Unclassified | 0.0% | 4.6% |
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, 5% of XBI).
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% |
| XBI | -4.0% | +29.2% | +85.3% | +26.3% | +4.5% | +9.5% | 0.36% |
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 XBI →
Shared Holdings(8)
The top 8 shared positions account for 100% of the overlap, led by ABBV, AMGN and GILD.
 ABBVAbbVie Inc. COM | 0.65% | 1.05% | 0.65% |
|---|---|---|---|
 AMGNAmgen Inc. COM | 0.33% | 1.16% | 0.33% |
 GILDGilead Sciences Inc. COM | 0.24% | 1.04% | 0.24% |
 VRTXVertex Pharmaceuticals Incorporated COM | 0.19% | 1.07% | 0.19% |
 REGNRegeneron Pharmaceuticals, Inc. COM | 0.12% | 1.24% | 0.12% |
 BIIBBiogen Inc COM | 0.05% | 1.03% | 0.05% |
 INCYIncyte Corporation. COM | 0.03% | 1.09% | 0.03% |
 MRNAModerna Inc COM | 0.03% | 1.13% | 0.03% |
Frequently Asked Questions
How much do SPY and XBI overlap?
SPY and XBI overlap by 1.6% of portfolio weight. They share 8 holdings (SPY holds 504 positions and XBI holds 149), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XBI?
The two portfolios are 1.6% 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 XBI?
The largest positions held by both funds are ABBV, AMGN, GILD, VRTX and REGN. Together the top 8 shared positions account for 100% of the total overlap.
What does SPY own that XBI doesn't?
496 positions (98.3% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 141 positions (91.3% of XBI) are unique to XBI.