EFA vs XLE: 0% overlap
iShares MSCI EAFE ETF and Energy Select Sector SPDR Fund share 0.1% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
EFA and XLE hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in EFA | in XLE | Δ |
|---|---|---|---|
| EQT | 0.1% | 2.1% | 2.0% |
| APA | 0.0% | 0.8% | 0.8% |
| CASH | 0.0% | 0.1% | 0.1% |
Where EFA and XLE 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 | EFA | XLE | Δ |
|---|---|---|---|
| Energy | 3.9% | 99.8% | −95.9pp |
| Financials | 25.8% | 0.0% | +25.8pp |
| Industrials | 19.0% | 0.0% | +19.0pp |
| Information Technology | 12.0% | 0.0% | +12.0pp |
| Consumer Discretionary | 8.3% | 0.0% | +8.3pp |
| Health Care | 8.0% | 0.0% | +8.0pp |
| Consumer Staples | 7.0% | 0.0% | +7.0pp |
| Materials | 5.8% | 0.0% | +5.8pp |
Δ is EFA minus XLE, 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
99.4% of EFA by weight, held in no part of XLE.
96.9% of XLE by weight, held in no part of EFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| EFA | XLE | |
|---|---|---|
| Top 10 holdings | 14.5% | 73.1% |
| Positions held | 678 | 23 |
| Cost per $10,000 held, per year | $33 | $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 EFA and XLE overlap?
EFA and XLE overlap 0.1% by portfolio weight — largely distinct portfolios. They share 3 holdings. The figure comes from current issuer holdings files (EFA as of 2026-07-23, XLE as of 2026-07-23).
How is the overlap between EFA and XLE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If EFA holds a stock at 6% and XLE 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 EFA and XLE?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does EFA own that XLE doesn't?
EFA holds 678 positions and XLE holds 23; 674 of EFA's positions don't appear in XLE at all, and they are 99.4% of EFA by weight.
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Related comparisons
Sources: issuer holdings files, EFA as of 2026-07-23, XLE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.