VOE vs XLF: Holdings Overlap
VOEVanguard Mid-cap Value Index Fund
Vanguard · 170 holdings · $24.2B · as of 2026-03-31
XLFState Street® Financial Select Sector SPDR® ETF
State Street (SPDR) · 77 holdings · $59.1B · as of 2026-08-06
Holdings snapshots are 128 days apart (VOE: 2026-03-31, 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 VOE and XLF?
Vanguard Mid-cap Value Index Fund (VOE, by Vanguard) holds 170 positions; State Street® Financial Select Sector SPDR® ETF (XLF, by State Street (SPDR)) holds 77. They have 31 holdings in common, and by portfolio weight the two funds are 13.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 31VOE holds 170 · XLF holds 77
- Weight in Shared Holdings
- VOE 17%·XLF 14%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 VOE
139 of 170 positions (82.1% of the fund) are not held by XLF. Showing the top 30 by weight.
Only in XLF
46 of 77 positions (85.8% of the fund) are not held by VOE. Showing the top 30 by weight.
Sector Breakdown
| Sector | VOE | XLF |
|---|---|---|
| Financials | 17.6% | 99.8% |
| Industrials | 13.6% | 0.0% |
| Energy | 13.0% | 0.0% |
| Utilities | 12.7% | 0.0% |
| Consumer Staples | 8.3% | 0.0% |
| Other Sectors | 34.3% | 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 |
|---|---|---|---|---|---|---|---|
| VOE | +3.2% | +17.9% | +26.2% | +15.9% | +10.1% | +10.8% | 1.80% |
| 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 VOE vs XLF →
Shared Holdings(31)
The top 10 shared positions account for 46% of the overlap, led by ALL, AJG and MET.
 ALLThe Allstate Corporation COM | 1.01% | 0.87% | 0.87% |
|---|---|---|---|
 AJGArthur J. Gallagher & Co. | 1.04% | 0.79% | 0.79% |
 METMetLife Inc. COM | 0.73% | 0.66% | 0.66% |
 FITBFifth Third Bancorp COM | 0.78% | 0.63% | 0.63% |
 STTState Street Corp. COM | 0.63% | 0.63% | 0.63% |
 AMPAmeriprise Financial, Inc. COM | 0.76% | 0.62% | 0.62% |
 AIGAmerican International Group Inc. COM NEW | 0.76% | 0.52% | 0.52% |
 NDAQNasdaq Inc COM | 0.81% | 0.52% | 0.52% |
 PRUPrudential Financial, Inc. COM | 0.64% | 0.52% | 0.52% |
 PYPLPaypal Holdings Inc. COM | 0.51% | 0.65% | 0.51% |
 HIGThe Hartford Insurance Group Inc. COM | 0.70% | 0.49% | 0.49% |
 AFLAflac Incorporated COM | 0.48% | 0.71% | 0.48% |
 MTBM&T Bank Corporation COM | 0.49% | 0.45% | 0.45% |
 HBANHuntington Bancshares Incorporated COM | 0.60% | 0.43% | 0.43% |
 ACGLArch Capital Group Ltd. COM USD0.01 | 0.61% | 0.42% | 0.42% |
 NTRSNorthern Trust Corporation COM | 0.46% | 0.42% | 0.42% |
 WTWWillis Towers Watson Public Limited Company COM USD0.000304635 | 0.52% | 0.39% | 0.39% |
 RJFRaymond James Financial Inc. COM | 0.47% | 0.38% | 0.38% |
 CFGCitizens Financial Group Inc COM | 0.45% | 0.38% | 0.38% |
 CBOECboe Global Markets Inc COM | 0.55% | 0.37% | 0.37% |
 FISVFiserv Inc. COM | 0.50% | 0.35% | 0.35% |
 CINFCincinnati Financial Corporation COM | 0.46% | 0.34% | 0.34% |
 RFRegions Financial Corporation COM | 0.42% | 0.33% | 0.33% |
 SYFSynchrony Financial COM | 0.44% | 0.32% | 0.32% |
 TROWPrice T Rowe Group Inc. COM | 0.37% | 0.30% | 0.30% |
Frequently Asked Questions
How much do VOE and XLF overlap?
VOE and XLF overlap by 13.7% of portfolio weight. They share 31 holdings (VOE holds 170 positions and XLF holds 77), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VOE and XLF?
The two portfolios are 13.7% 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 VOE and XLF?
The largest positions held by both funds are ALL, AJG, MET, FITB and STT. Together the top 10 shared positions account for 46% of the total overlap.
What does VOE own that XLF doesn't?
139 positions (82.1% of VOE) are unique to VOE, led by SLB, CMI and VLO. In the other direction, 46 positions (85.8% of XLF) are unique to XLF.