PRWCX vs XLC: 7% overlap
T. Rowe Price Capital Appreciation and Communication Services Select Sector SPDR Fund share 6.7% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — PRWCX as of 2026-03-31, the rest through 2026-07-23. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
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
PRWCX and XLC hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in PRWCX | in XLC | Δ |
|---|---|---|---|
| META | 3.7% | 18.5% | 14.8% |
| GOOGL | 2.3% | 10.1% | 7.8% |
| NFLX | 0.7% | 4.3% | 3.6% |
Where PRWCX and XLC 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 | PRWCX | XLC | Δ |
|---|---|---|---|
| Communication Services | 6.7% | 99.8% | −93.1pp |
| Unclassified | 20.3% | 0.0% | +20.3pp |
| Treasuries | 18.2% | 0.0% | +18.2pp |
| Information Technology | 17.8% | 0.0% | +17.8pp |
| Health Care | 12.2% | 0.0% | +12.2pp |
| Consumer Discretionary | 7.2% | 0.0% | +7.2pp |
| Utilities | 7.1% | 0.0% | +7.1pp |
| Cash & Other | 5.0% | -0.1% | +5.2pp |
Δ is PRWCX minus XLC, 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
87.9% of PRWCX by weight, held in no part of XLC.
67.1% of XLC by weight, held in no part of PRWCX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| PRWCX | XLC | |
|---|---|---|
| Top 10 holdings | 46.0% | 68.6% |
| Positions held | 151 | 25 |
| Cost per $10,000 held, per year | $72 | $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 PRWCX and XLC overlap?
PRWCX and XLC overlap 6.7% by portfolio weight — largely distinct portfolios. They share 3 holdings. The figure comes from current issuer holdings files (PRWCX as of 2026-03-31, XLC as of 2026-07-23).
How is the overlap between PRWCX and XLC calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If PRWCX holds a stock at 6% and XLC 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 PRWCX and XLC?
That depends on your goals — we state facts, not advice. At 6.7% overlap, each fund still contributes meaningfully distinct exposure.
What does PRWCX own that XLC doesn't?
PRWCX holds 151 positions and XLC holds 25; 147 of PRWCX's positions don't appear in XLC at all, and they are 87.9% of PRWCX by weight.
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Related comparisons
Sources: issuer holdings files, PRWCX as of 2026-03-31, XLC as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.