TCAF vs XBI: Holdings Overlap
TCAFT. Rowe Price Capital Appreciation Equity ETF
T. Rowe Price · 92 holdings · $8.3B · as of 2026-03-31
XBIState Street® SPDR® S&P® Biotech ETF
State Street (SPDR) · 149 holdings · $10.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (TCAF: 2026-03-31, XBI: 2026-08-06). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are TCAF and XBI?
T. Rowe Price Capital Appreciation Equity ETF (TCAF, by T. Rowe Price) holds 92 positions; State Street® SPDR® S&P® Biotech ETF (XBI, by State Street (SPDR)) holds 149. They have 10 holdings in common, and by portfolio weight the two funds are 4.4% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 10TCAF holds 92 · XBI holds 149
- Weight in Shared Holdings
- TCAF 5%·XBI 12%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 TCAF
82 of 92 positions (95.3% of the fund) are not held by XBI. Showing the top 30 by weight.
Only in XBI
139 of 149 positions (88.3% of the fund) are not held by TCAF. Showing the top 30 by weight.
Sector Breakdown
| Sector | TCAF | XBI |
|---|---|---|
| Health Care | 17.6% | 95.5% |
| Information Technology | 30.5% | 0.0% |
| Consumer Discretionary | 12.1% | 0.0% |
| Utilities | 10.2% | 0.0% |
| Communication Services | 8.2% | 0.0% |
| Other Sectors | 17.9% | 0.0% |
| Unclassified | 3.3% | 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 (3% of TCAF, 5% of XBI).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| TCAF | +3.1% | +12.1% | +18.5% | +18.6% | — | — | 0.45% |
| 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 TCAF vs XBI →
Shared Holdings(10)
The top 10 shared positions account for 100% of the overlap, led by CYTK, APGE and ALNY.
 CYTKCytokinetics Incorporated | 1.11% | 1.17% | 1.11% |
|---|---|---|---|
 APGEApogee Therapeutics Inc. COM | 0.86% | 1.57% | 0.86% |
 ALNYAlnylam Pharmaceuticals Inc. COM | 0.79% | 0.72% | 0.72% |
 PCVXVaxcyte Inc COM | 0.44% | 1.25% | 0.44% |
 GILDGilead Sciences Inc. COM | 0.35% | 1.04% | 0.35% |
 BIIBBiogen Inc COM | 0.28% | 1.03% | 0.28% |
 CGONCG Oncology Inc. COM | 0.26% | 1.32% | 0.26% |
 KYMRKymera Therapeutics Inc COM | 0.17% | 1.31% | 0.17% |
 ERASErasca Inc COM | 0.14% | 1.32% | 0.14% |
 DYNDyne Therapeutics Inc. COM | 0.10% | 1.04% | 0.10% |
Frequently Asked Questions
How much do TCAF and XBI overlap?
TCAF and XBI overlap by 4.4% of portfolio weight. They share 10 holdings (TCAF holds 92 positions and XBI holds 149), based on each fund's latest SEC-reported holdings.
Is it redundant to own both TCAF and XBI?
The two portfolios are 4.4% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of TCAF and XBI?
The largest positions held by both funds are CYTK, APGE, ALNY, PCVX and GILD. Together the top 10 shared positions account for 100% of the total overlap.
What does TCAF own that XBI doesn't?
82 positions (95.3% of TCAF) are unique to TCAF, led by MSFT, AMZN and AAPL. In the other direction, 139 positions (88.3% of XBI) are unique to XBI.