DIA vs XLY: 10% overlap
SPDR Dow Jones Industrial Average ETF and Consumer Discretionary Select Sector SPDR Fund share 9.9% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
DIA and XLY hold 4 of the same securities. The ten contributing most to the overlap figure:
| Holding | in DIA | in XLY | Δ |
|---|---|---|---|
| HD | 3.7% | 5.8% | 2.1% |
| MCD | 3.0% | 4.4% | 1.3% |
| AMZN | 2.7% | 23.5% | 20.8% |
| NKE | 0.5% | 1.3% | 0.8% |
Where DIA and XLY differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | DIA | XLY | Δ |
|---|---|---|---|
| Consumer Discretionary | 9.9% | 99.9% | −90.0pp |
| Financials | 28.6% | 0.0% | +28.6pp |
| Industrials | 17.5% | 0.0% | +17.5pp |
| Information Technology | 15.9% | 0.0% | +15.9pp |
| Health Care | 13.6% | 0.0% | +13.6pp |
| Communication Services | 4.7% | 0.0% | +4.7pp |
| Consumer Staples | 3.9% | 0.0% | +3.9pp |
| Materials | 3.6% | 0.0% | +3.6pp |
Δ is DIA minus XLY, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
90.0% of DIA by weight, held in no part of XLY.
65.0% of XLY by weight, held in no part of DIA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| DIA | XLY | |
|---|---|---|
| Top 10 holdings | 56.2% | 68.0% |
| Positions held | 31 | 49 |
| Cost per $10,000 held, per year | $16 | $8 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do DIA and XLY overlap?
DIA and XLY overlap 9.9% by portfolio weight — largely distinct portfolios. They share 4 holdings. The figure comes from current issuer holdings files (DIA as of 2026-07-23, XLY as of 2026-07-23).
How is the overlap between DIA and XLY calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If DIA holds a stock at 6% and XLY holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both DIA and XLY?
That depends on your goals — we state facts, not advice. At 9.9% overlap, each fund still contributes meaningfully distinct exposure.
What does DIA own that XLY doesn't?
DIA holds 31 positions and XLY holds 49; 26 of DIA's positions don't appear in XLY at all, and they are 90.0% of DIA by weight.
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Related comparisons
Sources: issuer holdings files, DIA as of 2026-07-23, XLY as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.