PRWCX vs XLK: 15% overlap
T. Rowe Price Capital Appreciation and Technology Select Sector SPDR Fund share 14.9% 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 XLK hold 11 of the same securities. The ten contributing most to the overlap figure:
| Holding | in PRWCX | in XLK | Δ |
|---|---|---|---|
| MSFT | 4.2% | 7.9% | 3.7% |
| AAPL | 3.6% | 13.2% | 9.6% |
| NVDA | 3.0% | 14.1% | 11.1% |
| AVGO | 1.8% | 5.2% | 3.4% |
| AMD | 1.4% | 4.7% | 3.3% |
| ANET | 0.3% | 1.2% | 1.0% |
| KLAC | 0.2% | 1.9% | 1.8% |
| WDAY | 0.2% | 0.2% | 0.0% |
| MU | 0.2% | 4.3% | 4.1% |
| CIEN | 0.1% | 0.4% | 0.3% |
Where PRWCX and XLK 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 | XLK | Δ |
|---|---|---|---|
| Information Technology | 17.8% | 99.9% | −82.1pp |
| Unclassified | 20.3% | 0.0% | +20.3pp |
| Treasuries | 18.2% | 0.0% | +18.2pp |
| Health Care | 12.2% | 0.0% | +12.2pp |
| Consumer Discretionary | 7.2% | 0.0% | +7.2pp |
| Utilities | 7.1% | 0.0% | +7.1pp |
| Communication Services | 6.7% | 0.0% | +6.7pp |
| Cash & Other | 5.0% | 0.0% | +5.0pp |
Δ is PRWCX minus XLK, 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
78.1% of PRWCX by weight, held in no part of XLK.
46.8% of XLK 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 | XLK | |
|---|---|---|
| Top 10 holdings | 46.0% | 61.3% |
| Positions held | 151 | 76 |
| 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 XLK overlap?
PRWCX and XLK overlap 14.9% by portfolio weight — largely distinct portfolios. They share 11 holdings. The figure comes from current issuer holdings files (PRWCX as of 2026-03-31, XLK as of 2026-07-23).
How is the overlap between PRWCX and XLK 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 XLK 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 XLK?
That depends on your goals — we state facts, not advice. At 14.9% overlap, each fund still contributes meaningfully distinct exposure.
What does PRWCX own that XLK doesn't?
PRWCX holds 151 positions and XLK holds 76; 139 of PRWCX's positions don't appear in XLK at all, and they are 78.1% of PRWCX by weight.
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Related comparisons
Sources: issuer holdings files, PRWCX as of 2026-03-31, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.