IVE vs XLE: 8% overlap
iShares S&P 500 Value ETF and Energy Select Sector SPDR Fund share 7.5% 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
IVE and XLE hold 22 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVE | in XLE | Δ |
|---|---|---|---|
| XOM | 2.2% | 20.8% | 18.6% |
| CVX | 1.2% | 15.1% | 13.9% |
| COP | 0.5% | 6.1% | 5.6% |
| WMB | 0.3% | 4.1% | 3.8% |
| MPC | 0.3% | 4.9% | 4.6% |
| VLO | 0.3% | 4.6% | 4.3% |
| PSX | 0.3% | 4.8% | 4.5% |
| EOG | 0.3% | 4.5% | 4.2% |
| SLB | 0.2% | 4.1% | 3.9% |
| KMI | 0.2% | 4.0% | 3.8% |
Where IVE 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 | IVE | XLE | Δ |
|---|---|---|---|
| Energy | 7.4% | 99.8% | −92.5pp |
| Information Technology | 19.8% | 0.0% | +19.8pp |
| Financials | 16.1% | 0.0% | +16.1pp |
| Health Care | 12.5% | 0.0% | +12.5pp |
| Industrials | 11.5% | 0.0% | +11.5pp |
| Consumer Discretionary | 9.6% | 0.0% | +9.6pp |
| Consumer Staples | 8.7% | 0.0% | +8.7pp |
| Utilities | 4.5% | 0.0% | +4.5pp |
Δ is IVE 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
92.5% of IVE by weight, held in no part of XLE.
0.0% of XLE by weight, held in no part of IVE.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVE | XLE | |
|---|---|---|
| Top 10 holdings | 23.7% | 73.1% |
| Positions held | 440 | 23 |
| Cost per $10,000 held, per year | $18 | $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 IVE and XLE overlap?
IVE and XLE overlap 7.5% by portfolio weight — largely distinct portfolios. They share 22 holdings. The figure comes from current issuer holdings files (IVE as of 2026-07-23, XLE as of 2026-07-23).
How is the overlap between IVE and XLE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVE 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 IVE and XLE?
That depends on your goals — we state facts, not advice. At 7.5% overlap, each fund still contributes meaningfully distinct exposure.
What does IVE own that XLE doesn't?
IVE holds 440 positions and XLE holds 23; 417 of IVE's positions don't appear in XLE at all, and they are 92.5% of IVE by weight.
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Related comparisons
Sources: issuer holdings files, IVE as of 2026-07-23, XLE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.