SOXX vs XLK: 41% overlap
iShares Semiconductor ETF and Technology Select Sector SPDR Fund share 40.9% 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
SOXX and XLK hold 19 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SOXX | in XLK | Δ |
|---|---|---|---|
| NVDA | 8.3% | 14.1% | 5.8% |
| AVGO | 7.3% | 5.2% | 2.2% |
| AMD | 8.7% | 4.7% | 4.1% |
| MU | 8.5% | 4.3% | 4.2% |
| INTC | 5.3% | 3.2% | 2.1% |
| AMAT | 5.2% | 3.0% | 2.2% |
| LRCX | 4.2% | 2.7% | 1.5% |
| KLAC | 4.8% | 1.9% | 2.8% |
| TXN | 3.9% | 1.8% | 2.1% |
| ADI | 3.8% | 1.3% | 2.6% |
Where SOXX 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 | SOXX | XLK | Δ |
|---|---|---|---|
| Cash and/or Derivatives | 0.1% | 0.1% | +0.1pp |
| Information Technology | 99.9% | 99.9% | −0.1pp |
| Cash & Other | 0.0% | 0.0% | −0.0pp |
Δ is SOXX 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
18.1% of SOXX by weight, held in no part of XLK.
53.3% of XLK by weight, held in no part of SOXX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SOXX | XLK | |
|---|---|---|
| Top 10 holdings | 60.9% | 61.3% |
| Positions held | 32 | 76 |
| Cost per $10,000 held, per year | $34 | $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 SOXX and XLK overlap?
SOXX and XLK overlap 40.9% by portfolio weight — moderate overlap. They share 19 holdings. The figure comes from current issuer holdings files (SOXX as of 2026-07-23, XLK as of 2026-07-23).
How is the overlap between SOXX and XLK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SOXX 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 SOXX and XLK?
That depends on your goals — we state facts, not advice. At 40.9% overlap, each fund still contributes meaningfully distinct exposure.
What does SOXX own that XLK doesn't?
SOXX holds 32 positions and XLK holds 76; 12 of SOXX's positions don't appear in XLK at all, and they are 18.1% of SOXX by weight.
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Related comparisons
Sources: issuer holdings files, SOXX as of 2026-07-23, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.