SPY vs XLK: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XLKState Street® Technology Select Sector SPDR® ETF
State Street (SPDR) · 73 holdings · $122.8B · as of 2026-08-06
How similar are SPY and XLK?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® Technology Select Sector SPDR® ETF (XLK, by State Street (SPDR)) holds 73. They have 73 holdings in common, and by portfolio weight the two funds are 37.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 37.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 73SPY holds 504 · XLK holds 73
- Weight in Shared Holdings
- SPY 38%·XLK 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
431 of 504 positions (62.3% of the fund) are not held by XLK. Showing the top 30 by weight.
Only in XLK
Every position in XLK is also held by SPY, so it brings nothing the other fund doesn’t already own.
Sector Breakdown
| Sector | SPY | XLK |
|---|---|---|
| Information Technology | 37.6% | 99.9% |
| Financials | 12.3% | 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% |
| XLK | +4.9% | +30.9% | +43.5% | +30.7% | +20.3% | +24.4% | 0.42% |
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 XLK →
Shared Holdings(73)
The top 10 shared positions account for 77% of the overlap, led by NVDA, AAPL and MSFT.
 NVDANVIDIA Corp. COM | 8.00% | 14.35% | 8.00% |
|---|---|---|---|
 AAPLApple Inc. COM | 6.92% | 12.41% | 6.92% |
 MSFTMicrosoft Corp. COM | 5.60% | 10.04% | 5.60% |
 AVGOBroadcom Inc COM | 3.00% | 5.39% | 3.00% |
 MUMicron Technology Inc. COM | 1.50% | 3.70% | 1.50% |
 AMDAdvanced Micro Devices Inc. COM | 1.20% | 4.11% | 1.20% |
 CSCOCisco Systems, Inc. COM | 0.72% | 3.15% | 0.72% |
 INTCIntel Corporation COM | 0.71% | 3.11% | 0.71% |
 AMATApplied Materials Inc. COM | 0.63% | 2.77% | 0.63% |
 LRCXLam Research Corporation COM NEW | 0.58% | 2.53% | 0.58% |
 PLTRPalantir Technologies, Inc., Class A | 0.54% | 2.36% | 0.54% |
 PANWPalo Alto Networks Inc COM | 0.44% | 1.93% | 0.44% |
 TXNTexas Instruments Inc. COM | 0.38% | 1.67% | 0.38% |
 KLACKLA Corp. COM NEW | 0.38% | 1.67% | 0.38% |
 ORCLOracle Corp. COM | 0.37% | 1.61% | 0.37% |
 IBMInternational Business Machines Corp. COM | 0.33% | 1.45% | 0.33% |
 CRWDCrowdstrike Holdings, Inc., Class A | 0.32% | 1.39% | 0.32% |
 APHAmphenol Corporation CL A | 0.32% | 1.39% | 0.32% |
 ANETArista Networks Inc COM SHS | 0.30% | 1.31% | 0.30% |
 STXSeagate Technology Holdings PLC ORD SHS | 0.29% | 1.26% | 0.29% |
 SNDKSandisk Corporation COM | 0.28% | 1.23% | 0.28% |
 MRVLMarvell Technology Inc COM | 0.28% | 1.22% | 0.28% |
 ADIAnalog Devices Inc. COM | 0.28% | 1.22% | 0.28% |
 QCOMQUALCOMM Inc. COM | 0.25% | 1.12% | 0.25% |
 WDCWestern Digital Corp. COM | 0.23% | 1.03% | 0.23% |
Frequently Asked Questions
How much do SPY and XLK overlap?
SPY and XLK overlap by 37.6% of portfolio weight. They share 73 holdings (SPY holds 504 positions and XLK holds 73), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XLK?
The two portfolios are 37.6% 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 SPY and XLK?
The largest positions held by both funds are NVDA, AAPL, MSFT, AVGO and MU. Together the top 10 shared positions account for 77% of the total overlap.
What does SPY own that XLK doesn't?
431 positions (62.3% of SPY) are unique to SPY, led by AMZN, GOOGL and GOOG. In the other direction, 0 positions (0.0% of XLK) are unique to XLK.