SPY vs XLE: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XLEState Street® Energy Select Sector SPDR® ETF
State Street (SPDR) · 22 holdings · $38.5B · as of 2026-08-06
How similar are SPY and XLE?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® Energy Select Sector SPDR® ETF (XLE, by State Street (SPDR)) holds 22. They have 21 holdings in common, and by portfolio weight the two funds are 3.2% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 3.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21SPY holds 504 · XLE holds 22
- Weight in Shared Holdings
- SPY 3%·XLE 100%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
483 of 504 positions (96.7% of the fund) are not held by XLE. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | XLE |
|---|---|---|
| Energy | 3.2% | 99.8% |
| 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 | 27.9% | 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 |
|---|---|---|---|---|---|---|---|
| SPY | +3.4% | +14.0% | +23.7% | +21.2% | +13.3% | +15.3% | 0.97% |
| XLE | +5.2% | +30.4% | +40.5% | +13.3% | +22.8% | +9.8% | 2.64% |
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 XLE →
Shared Holdings(21)
The top 10 shared positions account for 80% of the overlap, led by XOM, CVX and COP.
 XOMEXXONMOBIL HOLDINGS CORP | 0.97% | 21.04% | 0.97% |
|---|---|---|---|
 CVXChevron Corp. COM | 0.53% | 15.05% | 0.53% |
 COPConocoPhillips COM | 0.21% | 6.04% | 0.21% |
 VLOValero Energy Corp. COM | 0.14% | 4.71% | 0.14% |
 WMBWilliams Companies Inc. (The) COM | 0.13% | 3.98% | 0.13% |
 MPCMarathon Petroleum Corp. COM | 0.13% | 4.78% | 0.13% |
 PSXPhillips 66 COM | 0.12% | 4.89% | 0.12% |
 SLBSLB Ltd. COM USD0.01 | 0.12% | 4.60% | 0.12% |
 EOGEOG Resources Inc. COM | 0.11% | 4.28% | 0.11% |
 BKRBaker Hughes Co., Class A | 0.09% | 3.95% | 0.09% |
 KMIKinder Morgan, Inc. COM | 0.09% | 3.90% | 0.09% |
 TRGPTarga Resources Corp. COM | 0.09% | 3.66% | 0.09% |
 OKEOneok Inc. COM | 0.08% | 3.53% | 0.08% |
 DVNDevon Energy Corporation COM | 0.07% | 3.16% | 0.07% |
 OXYOccidental Petroleum Corp. COM | 0.06% | 2.59% | 0.06% |
 FANGDiamondback Energy Inc COM | 0.06% | 2.34% | 0.06% |
 EQTEQT Corporation COM | 0.05% | 2.05% | 0.05% |
 HALHalliburton Company COM | 0.04% | 1.73% | 0.04% |
 EXEExpand Energy Corp. COM | 0.03% | 1.40% | 0.03% |
 TPLTexas Pacific Land Corporation COM | 0.03% | 1.31% | 0.03% |
 APAAPA Corp. COM | 0.02% | 0.82% | 0.02% |
Frequently Asked Questions
How much do SPY and XLE overlap?
SPY and XLE overlap by 3.2% of portfolio weight. They share 21 holdings (SPY holds 504 positions and XLE holds 22), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XLE?
The two portfolios are 3.2% 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 XLE?
The largest positions held by both funds are XOM, CVX, COP, VLO and WMB. Together the top 10 shared positions account for 80% of the total overlap.
What does SPY own that XLE doesn't?
483 positions (96.7% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 1 positions (0.0% of XLE) are unique to XLE.