XLE vs IEO: Holdings Overlap
XLEState Street® Energy Select Sector SPDR® ETF
State Street (SPDR) · 22 holdings · $38.5B · as of 2026-08-06
IEOiShares U.S. Oil & Gas Exploration & Production ETF
iShares · 46 holdings · $559M · as of 2026-03-31
Holdings snapshots are 128 days apart (XLE: 2026-08-06, IEO: 2026-03-31). 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 XLE and IEO?
State Street® Energy Select Sector SPDR® ETF (XLE, by State Street (SPDR)) holds 22 positions; iShares U.S. Oil & Gas Exploration & Production ETF (IEO, by iShares) holds 46. They have 11 holdings in common, and by portfolio weight the two funds are 35.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 35.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 11XLE holds 22 · IEO holds 46
- Weight in Shared Holdings
- XLE 36%·IEO 73%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 XLE
11 of 22 positions (64.0% of the fund) are not held by IEO.
Only in IEO
35 of 46 positions (27.2% of the fund) are not held by XLE. Showing the top 30 by weight.
Sector Breakdown
| Sector | XLE | IEO |
|---|---|---|
| Energy | 99.8% | 99.9% |
| 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 |
|---|---|---|---|---|---|---|---|
| XLE | +5.2% | +30.4% | +40.5% | +13.3% | +22.8% | +9.8% | 2.64% |
| IEO | +6.1% | +34.9% | +40.9% | +10.4% | +22.1% | +10.3% | 1.95% |
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 XLE vs IEO →
Shared Holdings(11)
The top 10 shared positions account for 98% of the overlap, led by COP, PSX and VLO.
 COPConocoPhillips COM | 6.04% | 19.46% | 6.04% |
|---|---|---|---|
 PSXPhillips 66 COM | 4.89% | 7.29% | 4.89% |
 VLOValero Energy Corp. COM | 4.71% | 9.07% | 4.71% |
 MPCMarathon Petroleum Corp. COM | 4.78% | 4.43% | 4.43% |
 EOGEOG Resources Inc. COM | 4.28% | 9.44% | 4.28% |
 DVNDevon Energy Corporation COM | 3.16% | 4.47% | 3.16% |
 FANGDiamondback Energy Inc COM | 2.34% | 4.81% | 2.34% |
 EQTEQT Corporation COM | 2.05% | 4.11% | 2.05% |
 EXEExpand Energy Corp. COM | 1.40% | 3.75% | 1.40% |
 TPLTexas Pacific Land Corporation COM | 1.31% | 3.72% | 1.31% |
 APAAPA Corp. COM | 0.82% | 2.16% | 0.82% |
Frequently Asked Questions
How much do XLE and IEO overlap?
XLE and IEO overlap by 35.5% of portfolio weight. They share 11 holdings (XLE holds 22 positions and IEO holds 46), based on each fund's latest SEC-reported holdings.
Is it redundant to own both XLE and IEO?
The two portfolios are 35.5% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of XLE and IEO?
The largest positions held by both funds are COP, PSX, VLO, MPC and EOG. Together the top 10 shared positions account for 98% of the total overlap.
What does XLE own that IEO doesn't?
11 positions (64.0% of XLE) are unique to XLE, led by XOM, CVX and SLB. In the other direction, 35 positions (27.2% of IEO) are unique to IEO.