XLE vs XOP: Holdings Overlap
XLEState Street® Energy Select Sector SPDR® ETF
State Street (SPDR) · 22 holdings · $38.5B · as of 2026-08-06
XOPState Street® SPDR® S&P® Oil & Gas Exploration & Production ETF
State Street (SPDR) · 52 holdings · $3.6B · as of 2026-08-06
How similar are XLE and XOP?
State Street® Energy Select Sector SPDR® ETF (XLE, by State Street (SPDR)) holds 22 positions; State Street® SPDR® S&P® Oil & Gas Exploration & Production ETF (XOP, by State Street (SPDR)) holds 52. They have 15 holdings in common, and by portfolio weight the two funds are 31.3% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 31.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 15XLE holds 22 · XOP holds 52
- Weight in Shared Holdings
- XLE 74%·XOP 36%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
7 of 22 positions (25.3% of the fund) are not held by XOP.
Only in XOP
37 of 52 positions (64.2% of the fund) are not held by XLE. Showing the top 30 by weight.
Sector Breakdown
| Sector | XLE | XOP |
|---|---|---|
| Energy | 99.8% | 99.5% |
| 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% |
| XOP | +5.7% | +33.0% | +39.0% | +7.2% | +18.0% | +3.7% | 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 XOP →
Shared Holdings(15)
The top 10 shared positions account for 82% of the overlap, led by VLO, MPC and PSX.
 VLOValero Energy Corp. COM | 4.71% | 2.95% | 2.95% |
|---|---|---|---|
 MPCMarathon Petroleum Corp. COM | 4.78% | 2.86% | 2.86% |
 PSXPhillips 66 COM | 4.89% | 2.84% | 2.84% |
 XOMEXXONMOBIL HOLDINGS CORP | 21.04% | 2.58% | 2.58% |
 CVXChevron Corp. COM | 15.05% | 2.50% | 2.50% |
 OXYOccidental Petroleum Corp. COM | 2.59% | 2.47% | 2.47% |
 COPConocoPhillips COM | 6.04% | 2.45% | 2.45% |
 EOGEOG Resources Inc. COM | 4.28% | 2.44% | 2.44% |
 FANGDiamondback Energy Inc COM | 2.34% | 2.42% | 2.34% |
 DVNDevon Energy Corporation COM | 3.16% | 2.32% | 2.32% |
 EQTEQT Corporation COM | 2.05% | 2.46% | 2.05% |
 EXEExpand Energy Corp. COM | 1.40% | 2.61% | 1.40% |
 TPLTexas Pacific Land Corporation COM | 1.31% | 2.38% | 1.31% |
 APAAPA Corp. COM | 0.82% | 2.42% | 0.82% |
 IXPU6XAE ENERGY SEP26 | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
How much do XLE and XOP overlap?
XLE and XOP overlap by 31.3% of portfolio weight. They share 15 holdings (XLE holds 22 positions and XOP holds 52), based on each fund's latest SEC-reported holdings.
Is it redundant to own both XLE and XOP?
The two portfolios are 31.3% 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 XOP?
The largest positions held by both funds are VLO, MPC, PSX, XOM and CVX. Together the top 10 shared positions account for 82% of the total overlap.
What does XLE own that XOP doesn't?
7 positions (25.3% of XLE) are unique to XLE, led by SLB, WMB and BKR. In the other direction, 37 positions (64.2% of XOP) are unique to XOP.