SPY vs XLF: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XLFState Street® Financial Select Sector SPDR® ETF
State Street (SPDR) · 77 holdings · $59.1B · as of 2026-08-06
How similar are SPY and XLF?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® Financial Select Sector SPDR® ETF (XLF, by State Street (SPDR)) holds 77. They have 76 holdings in common, and by portfolio weight the two funds are 12.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 12.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 76SPY holds 504 · XLF holds 77
- Weight in Shared Holdings
- SPY 12%·XLF 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
428 of 504 positions (87.6% of the fund) are not held by XLF. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | XLF |
|---|---|---|
| Financials | 12.3% | 99.8% |
| Information Technology | 37.6% | 0.0% |
| Communication Services | 9.7% | 0.0% |
| Consumer Discretionary | 9.3% | 0.0% |
| Health Care | 8.9% | 0.0% |
| Other Sectors | 22.1% | 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% |
| XLF | +2.8% | +6.1% | +13.9% | +19.5% | +10.7% | +13.5% | 1.40% |
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 XLF →
Shared Holdings(76)
The top 10 shared positions account for 57% of the overlap, led by BRK-B, JPM and V.
 BRK-BBerkshire Hathaway, Inc., Class B | 1.45% | 11.78% | 1.45% |
|---|---|---|---|
 JPMJPMorgan Chase & Co. COM | 1.44% | 11.69% | 1.44% |
 VVisa, Inc., Class A | 0.93% | 7.53% | 0.93% |
 MAMasterCard Incorporated CL A | 0.70% | 5.69% | 0.70% |
 BACBank of America Corp. COM | 0.62% | 5.04% | 0.62% |
 GSGoldman Sachs Group, Inc. (The) | 0.46% | 3.73% | 0.46% |
 WFCWells Fargo & Co. COM | 0.40% | 3.26% | 0.40% |
 MSMorgan Stanley COM NEW | 0.39% | 3.14% | 0.39% |
 CCitigroup Inc. COM NEW | 0.34% | 2.80% | 0.34% |
 AXPAmerican Express Company COM | 0.28% | 2.23% | 0.28% |
 SCHWThe Charles Schwab Corporation COM | 0.27% | 2.16% | 0.27% |
 BLKBlackrock Inc. COM | 0.25% | 2.00% | 0.25% |
 COFCapital One Financial Corp. COM | 0.21% | 1.68% | 0.21% |
 CBChubb Ltd. Switzerland ORD CHF24.15 | 0.19% | 1.56% | 0.19% |
 PGRThe Progressive Corporation COM | 0.19% | 1.54% | 0.19% |
 SPGIS&P Global Inc COM | 0.19% | 1.50% | 0.19% |
 BNYThe Bank of New York Mellon Corp. COM | 0.16% | 1.33% | 0.16% |
 PNCPNC Financial Services Group, Inc. (The) | 0.15% | 1.24% | 0.15% |
 BXBlackstone Inc., Class A | 0.15% | 1.21% | 0.15% |
 USBU.S. Bancorp. COM NEW | 0.15% | 1.21% | 0.15% |
 CMECME Group, Inc., Class A | 0.14% | 1.17% | 0.14% |
 MRSHMarsh & McLennan Companies, Inc. COM | 0.14% | 1.14% | 0.14% |
 ICEIntercontinental Exchange Inc COM | 0.13% | 1.04% | 0.13% |
 TRVTravelers Companies, Inc. COM | 0.12% | 1.01% | 0.12% |
 AONAon plc, Class A | 0.12% | 0.94% | 0.12% |
Frequently Asked Questions
How much do SPY and XLF overlap?
SPY and XLF overlap by 12.3% of portfolio weight. They share 76 holdings (SPY holds 504 positions and XLF holds 77), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XLF?
The two portfolios are 12.3% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of SPY and XLF?
The largest positions held by both funds are BRK-B, JPM, V, MA and BAC. Together the top 10 shared positions account for 57% of the total overlap.
What does SPY own that XLF doesn't?
428 positions (87.6% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 1 positions (0.0% of XLF) are unique to XLF.