SPY vs XLV: Holdings Overlap
SPYState Street® SPDR® S&P 500® ETF Trust
State Street (SPDR) · 504 holdings · $812.0B · as of 2026-08-06
XLVState Street® Health Care Select Sector SPDR® ETF
State Street (SPDR) · 61 holdings · $41.9B · as of 2026-08-06
How similar are SPY and XLV?
State Street® SPDR® S&P 500® ETF Trust (SPY, by State Street (SPDR)) holds 504 positions; State Street® Health Care Select Sector SPDR® ETF (XLV, by State Street (SPDR)) holds 61. They have 60 holdings in common, and by portfolio weight the two funds are 8.9% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 8.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 60SPY holds 504 · XLV holds 61
- Weight in Shared Holdings
- SPY 9%·XLV 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
444 of 504 positions (91.0% of the fund) are not held by XLV. Showing the top 30 by weight.
Sector Breakdown
| Sector | SPY | XLV |
|---|---|---|
| Health Care | 8.9% | 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 | 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% |
| XLV | +0.8% | +7.9% | +30.7% | +9.2% | +6.2% | +10.0% | 1.53% |
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 XLV →
Shared Holdings(60)
The top 10 shared positions account for 61% of the overlap, led by LLY, JNJ and ABBV.
 LLYEli Lilly & Co. COM | 1.42% | 15.88% | 1.42% |
|---|---|---|---|
 JNJJohnson & Johnson COM | 0.93% | 10.42% | 0.93% |
 ABBVAbbVie Inc. COM | 0.65% | 7.26% | 0.65% |
 UNHUnitedHealth Group Inc. COM | 0.55% | 6.18% | 0.55% |
 MRKMerck & Co., Inc COM | 0.48% | 5.34% | 0.48% |
 AMGNAmgen Inc. COM | 0.33% | 3.68% | 0.33% |
 TMOThermo Fisher Scientific Inc COM | 0.33% | 3.63% | 0.33% |
 ABTAbbott Laboratories COM | 0.28% | 3.17% | 0.28% |
 GILDGilead Sciences Inc. COM | 0.24% | 2.74% | 0.24% |
 PFEPfizer Inc. COM | 0.23% | 2.52% | 0.23% |
 ISRGIntuitive Surgical Inc. COM NEW | 0.20% | 2.23% | 0.20% |
 BMYBristol-Myers Squibb Company COM | 0.20% | 2.21% | 0.20% |
 DHRDanaher Corporation COM | 0.19% | 2.12% | 0.19% |
 VRTXVertex Pharmaceuticals Incorporated COM | 0.19% | 2.07% | 0.19% |
 CVSCVS Health Corp COM | 0.19% | 2.07% | 0.19% |
 SYKStryker Corporation COM | 0.18% | 1.96% | 0.18% |
 MDTMedtronic PLC USD0.0001 | 0.17% | 1.86% | 0.17% |
 MCKMckesson Corp. COM | 0.16% | 1.76% | 0.16% |
 ELVElevance Health Inc. COM | 0.13% | 1.43% | 0.13% |
 REGNRegeneron Pharmaceuticals, Inc. COM | 0.12% | 1.30% | 0.12% |
 BSXBoston Scientific Corporation COM | 0.11% | 1.23% | 0.11% |
 CIThe Cigna Group COM | 0.11% | 1.23% | 0.11% |
 HCAHCA Healthcare Inc COM | 0.10% | 1.07% | 0.10% |
 CORCencora Inc COM | 0.10% | 1.06% | 0.10% |
 CAHCardinal Health, Inc. COM | 0.08% | 0.94% | 0.08% |
Frequently Asked Questions
How much do SPY and XLV overlap?
SPY and XLV overlap by 8.9% of portfolio weight. They share 60 holdings (SPY holds 504 positions and XLV holds 61), based on each fund's latest SEC-reported holdings.
Is it redundant to own both SPY and XLV?
The two portfolios are 8.9% 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 XLV?
The largest positions held by both funds are LLY, JNJ, ABBV, UNH and MRK. Together the top 10 shared positions account for 61% of the total overlap.
What does SPY own that XLV doesn't?
444 positions (91.0% of SPY) are unique to SPY, led by NVDA, AAPL and MSFT. In the other direction, 1 positions (0.0% of XLV) are unique to XLV.