VFH vs XLF: Holdings Overlap
VFHVanguard Financials Index Fund
Vanguard · 411 holdings · $13.9B · as of 2026-05-31
XLFState Street® Financial Select Sector SPDR® ETF
State Street (SPDR) · 77 holdings · $59.1B · as of 2026-08-06
Holdings snapshots are 67 days apart (VFH: 2026-05-31, XLF: 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 VFH and XLF?
Vanguard Financials Index Fund (VFH, by Vanguard) holds 411 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 82.3% identical. In practical terms the pair is heavily overlapping, with largely the same stocks driving both funds.
- Overlap by Weight
- 82.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 76VFH holds 411 · XLF holds 77
- Weight in Shared Holdings
- VFH 83%·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 VFH
335 of 411 positions (13.8% of the fund) are not held by XLF. Showing the top 30 by weight.
Sector Breakdown
| Sector | VFH | XLF |
|---|---|---|
| Financials | 96.3% | 99.8% |
| Health Care | 0.1% | 0.0% |
| Other Sectors | 0.0% | 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 |
|---|---|---|---|---|---|---|---|
| VFH | +2.7% | +6.6% | +14.3% | +20.1% | +10.8% | +13.3% | 1.65% |
| 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 VFH vs XLF →
Shared Holdings(76)
The top 10 shared positions account for 54% of the overlap, led by JPM, BRK-B and MA.
 JPMJPMorgan Chase & Co. COM | 9.15% | 11.69% | 9.15% |
|---|---|---|---|
 BRK-BBerkshire Hathaway, Inc., Class B | 7.85% | 11.78% | 7.85% |
 MAMasterCard Incorporated CL A | 5.03% | 5.69% | 5.03% |
 BACBank of America Corp. COM | 4.25% | 5.04% | 4.25% |
 VVisa, Inc., Class A | 4.17% | 7.53% | 4.17% |
 GSGoldman Sachs Group, Inc. (The) | 3.51% | 3.73% | 3.51% |
 MSMorgan Stanley COM NEW | 2.97% | 3.14% | 2.97% |
 WFCWells Fargo & Co. COM | 2.93% | 3.26% | 2.93% |
 CCitigroup Inc. COM NEW | 2.56% | 2.80% | 2.56% |
 AXPAmerican Express Company COM | 2.10% | 2.23% | 2.10% |
 BLKBlackrock Inc. COM | 1.86% | 2.00% | 1.86% |
 SCHWThe Charles Schwab Corporation COM | 1.77% | 2.16% | 1.77% |
 SPGIS&P Global Inc COM | 1.58% | 1.50% | 1.50% |
 COFCapital One Financial Corp. COM | 1.44% | 1.68% | 1.44% |
 AEXChubb Ltd. Switzerland ORD CHF24.15 | 1.40% | 1.56% | 1.40% |
 PGRThe Progressive Corporation COM | 1.34% | 1.54% | 1.34% |
 CMECME Group, Inc., Class A | 1.19% | 1.17% | 1.17% |
 BNYThe Bank of New York Mellon Corp. COM | 1.15% | 1.33% | 1.15% |
 BXBlackstone Inc., Class A | 1.04% | 1.21% | 1.04% |
 PNCPNC Financial Services Group, Inc. (The) | 1.04% | 1.24% | 1.04% |
 USBU.S. Bancorp. COM NEW | 1.03% | 1.21% | 1.03% |
 ICEIntercontinental Exchange Inc COM | 1.01% | 1.04% | 1.01% |
 MRSHMarsh & McLennan Companies, Inc. COM | 0.94% | 1.14% | 0.94% |
 MCOMoodys Corp. COM | 0.88% | 0.87% | 0.87% |
 HOODRobinhood Markets, Inc., Class A | 0.85% | 0.88% | 0.85% |
Frequently Asked Questions
How much do VFH and XLF overlap?
VFH and XLF overlap by 82.3% of portfolio weight. They share 76 holdings (VFH holds 411 positions and XLF holds 77), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VFH and XLF?
The two portfolios are 82.3% identical by weight. Owning both mostly doubles down on the shared core rather than diversifying: the same large positions drive both funds.
What are the biggest shared holdings of VFH and XLF?
The largest positions held by both funds are JPM, BRK-B, MA, BAC and V. Together the top 10 shared positions account for 54% of the total overlap.
What does VFH own that XLF doesn't?
335 positions (13.8% of VFH) are unique to VFH, led by SOFI, MKL and LPLA. In the other direction, 1 positions (0.0% of XLF) are unique to XLF.