SCHG vs XLK: 45% overlap
Schwab U.S. Large-Cap Growth ETF and Technology Select Sector SPDR Fund share 44.6% 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 2 months apart — SCHG as of 2026-05-31, 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
SCHG and XLK hold 31 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHG | in XLK | Δ |
|---|---|---|---|
| NVDA | 11.0% | 14.1% | 3.1% |
| AAPL | 9.8% | 13.2% | 3.3% |
| MSFT | 7.2% | 7.9% | 0.7% |
| AVGO | 4.5% | 5.2% | 0.6% |
| AMD | 2.9% | 4.7% | 1.7% |
| PLTR | 1.2% | 1.9% | 0.7% |
| KLAC | 0.9% | 1.9% | 1.1% |
| PANW | 0.8% | 1.8% | 1.0% |
| CRWD | 0.6% | 1.3% | 0.6% |
| CRM | 0.6% | 0.9% | 0.3% |
Where SCHG 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 | SCHG | XLK | Δ |
|---|---|---|---|
| Information Technology | 46.1% | 99.9% | −53.8pp |
| Communication Services | 14.7% | 0.0% | +14.7pp |
| Consumer Discretionary | 12.1% | 0.0% | +12.1pp |
| Health Care | 8.3% | 0.0% | +8.3pp |
| Financials | 6.8% | 0.0% | +6.8pp |
| Industrials | 6.0% | 0.0% | +6.0pp |
| Unclassified | 1.9% | 0.0% | +1.9pp |
| Consumer Staples | 1.7% | 0.0% | +1.7pp |
Δ is SCHG 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
55.3% of SCHG by weight, held in no part of XLK.
38.7% of XLK by weight, held in no part of SCHG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SCHG | XLK | |
|---|---|---|
| Top 10 holdings | 57.2% | 61.3% |
| Positions held | 195 | 76 |
| Cost per $10,000 held, per year | $4 | $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 SCHG and XLK overlap?
SCHG and XLK overlap 44.6% by portfolio weight — moderate overlap. They share 31 holdings. The figure comes from current issuer holdings files (SCHG as of 2026-05-31, XLK as of 2026-07-23).
How is the overlap between SCHG and XLK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SCHG 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 SCHG and XLK?
That depends on your goals — we state facts, not advice. At 44.6% overlap, each fund still contributes meaningfully distinct exposure.
What does SCHG own that XLK doesn't?
SCHG holds 195 positions and XLK holds 76; 163 of SCHG's positions don't appear in XLK at all, and they are 55.3% of SCHG by weight.
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Related comparisons
Sources: issuer holdings files, SCHG as of 2026-05-31, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.