VOE vs XLI: Holdings Overlap
VOEVanguard Mid-cap Value Index Fund
Vanguard · 170 holdings · $24.2B · as of 2026-03-31
XLIState Street® Industrial Select Sector SPDR® ETF
State Street (SPDR) · 83 holdings · $34.2B · as of 2026-08-06
Holdings snapshots are 128 days apart (VOE: 2026-03-31, XLI: 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 XLI?
Vanguard Mid-cap Value Index Fund (VOE, by Vanguard) holds 170 positions; State Street® Industrial Select Sector SPDR® ETF (XLI, by State Street (SPDR)) holds 83. They have 21 holdings in common, and by portfolio weight the two funds are 13.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 21VOE holds 170 · XLI holds 83
- Weight in Shared Holdings
- VOE 13%·XLI 17%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
149 of 170 positions (86.1% of the fund) are not held by XLI. Showing the top 30 by weight.
Sector Breakdown
| Sector | VOE | XLI |
|---|---|---|
| Industrials | 13.6% | 99.9% |
| Financials | 17.6% | 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% |
| XLI | +1.5% | +20.0% | +24.5% | +20.8% | +14.0% | +14.2% | 1.11% |
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 XLI →
Shared Holdings(21)
The top 10 shared positions account for 70% of the overlap, led by CMI, PCAR and LHX.
 CMICummins Inc. COM | 1.39% | 1.53% | 1.39% |
|---|---|---|---|
 PCARPaccar Inc COM | 1.14% | 1.20% | 1.14% |
 LHXL3 Harris Technologies Inc COM | 1.21% | 0.93% | 0.93% |
 URIUnited Rentals, Inc. COM | 0.86% | 1.25% | 0.86% |
 FERGFerguson Enterprises Inc COMMON STOCK NEW | 0.85% | 0.85% | 0.85% |
 CARRCarrier Global Corporation COM | 0.84% | 0.86% | 0.84% |
 DALDelta Air Lines Inc. COM NEW | 0.81% | 1.03% | 0.81% |
 WABWestinghouse Air Brake Technologies Corp. | 0.80% | 0.86% | 0.80% |
 JCIJohnson Controls International PLC COM USD1.00 | 0.75% | 1.62% | 0.75% |
 FDXFedEx Corporation COM | 0.71% | 1.19% | 0.71% |
 UALUnited Airlines Holdings Inc COM | 0.57% | 0.72% | 0.57% |
 DOVDover Corporation COM | 0.53% | 0.49% | 0.49% |
 OTISOtis Worldwide Corp. COM | 0.56% | 0.49% | 0.49% |
 ROKRockwell Automation, Inc. COM | 0.38% | 0.85% | 0.38% |
 EXPDExpeditors International Of Washington Inc. COM | 0.36% | 0.40% | 0.36% |
 SNASnap-On Incorporated COM | 0.35% | 0.37% | 0.35% |
 LUVSouthwest Airlines Co. COM | 0.35% | 0.39% | 0.35% |
 FTVFortive Corporation COM | 0.32% | 0.32% | 0.32% |
 IRIngersoll Rand Inc COM | 0.29% | 0.54% | 0.29% |
 LDOSLeidos Holdings Inc COM | 0.18% | 0.29% | 0.18% |
 HUBBHubbell Incorporated COM | 0.12% | 0.46% | 0.12% |
Frequently Asked Questions
How much do VOE and XLI overlap?
VOE and XLI overlap by 13.0% of portfolio weight. They share 21 holdings (VOE holds 170 positions and XLI holds 83), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VOE and XLI?
The two portfolios are 13.0% 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 XLI?
The largest positions held by both funds are CMI, PCAR, LHX, URI and FERG. Together the top 10 shared positions account for 70% of the total overlap.
What does VOE own that XLI doesn't?
149 positions (86.1% of VOE) are unique to VOE, led by SLB, VLO and PSX. In the other direction, 62 positions (83.3% of XLI) are unique to XLI.