IVW vs XLY: 8% overlap
iShares S&P 500 Growth ETF and Consumer Discretionary Select Sector SPDR Fund share 8.1% 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVW and XLY hold 25 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVW | in XLY | Δ |
|---|---|---|---|
| AMZN | 3.5% | 23.5% | 20.0% |
| TSLA | 1.6% | 16.1% | 14.5% |
| BKNG | 0.4% | 3.6% | 3.2% |
| TJX | 0.3% | 4.3% | 4.0% |
| MCD | 0.2% | 4.4% | 4.1% |
| MAR | 0.2% | 2.1% | 1.9% |
| HLT | 0.2% | 2.0% | 1.7% |
| ORLY | 0.2% | 1.9% | 1.7% |
| RCL | 0.2% | 1.9% | 1.7% |
| DASH | 0.2% | 1.7% | 1.5% |
Where IVW 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 | IVW | XLY | Δ |
|---|---|---|---|
| Consumer Discretionary | 8.0% | 99.9% | −91.9pp |
| Information Technology | 52.5% | 0.0% | +52.5pp |
| Communication Services | 14.7% | 0.0% | +14.7pp |
| Financials | 9.2% | 0.0% | +9.2pp |
| Industrials | 6.6% | 0.0% | +6.6pp |
| Health Care | 6.3% | 0.0% | +6.3pp |
| Consumer Staples | 1.2% | 0.0% | +1.2pp |
| Real Estate | 0.7% | 0.0% | +0.7pp |
Δ is IVW 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
91.9% of IVW by weight, held in no part of XLY.
25.9% of XLY by weight, held in no part of IVW.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVW | XLY | |
|---|---|---|
| Top 10 holdings | 58.2% | 68.0% |
| Positions held | 149 | 49 |
| 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 IVW and XLY overlap?
IVW and XLY overlap 8.1% by portfolio weight — largely distinct portfolios. They share 25 holdings. The figure comes from current issuer holdings files (IVW as of 2026-07-23, XLY as of 2026-07-23).
How is the overlap between IVW and XLY calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVW 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 IVW and XLY?
That depends on your goals — we state facts, not advice. At 8.1% overlap, each fund still contributes meaningfully distinct exposure.
What does IVW own that XLY doesn't?
IVW holds 149 positions and XLY holds 49; 123 of IVW's positions don't appear in XLY at all, and they are 91.9% of IVW by weight.
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Related comparisons
Sources: issuer holdings files, IVW as of 2026-07-23, XLY as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.