TSPS vs XLK: 0% overlap
TSP S Fund — shown via extended-market proxy and Technology Select Sector SPDR Fund share 0.1% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
TSPS and XLK hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPS | in XLK | Δ |
|---|---|---|---|
| CASH | 3.8% | 0.1% | 3.7% |
| FLEX | 0.0% | 0.3% | 0.3% |
| MRVL | 0.0% | 1.2% | 1.2% |
Where TSPS 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 | TSPS | XLK | Δ |
|---|---|---|---|
| Information Technology | 17.6% | 99.9% | −82.3pp |
| Industrials | 19.8% | 0.0% | +19.8pp |
| Financials | 13.9% | 0.0% | +13.9pp |
| Health Care | 13.2% | 0.0% | +13.2pp |
| Consumer Discretionary | 8.8% | 0.0% | +8.8pp |
| Real Estate | 4.8% | 0.0% | +4.8pp |
| Communication Services | 4.5% | 0.0% | +4.5pp |
| Materials | 4.1% | 0.0% | +4.1pp |
Δ is TSPS 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
96.2% of TSPS by weight, held in no part of XLK.
98.4% of XLK by weight, held in no part of TSPS.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TSPS | XLK | |
|---|---|---|
| Top 10 holdings | 10.6% | 61.3% |
| Positions held | 3,327 | 76 |
| Cost per $10,000 held, per year | $5 | $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 TSPS and XLK overlap?
TSPS and XLK overlap 0.1% by portfolio weight — largely distinct portfolios. They share 3 holdings. The figure comes from current issuer holdings files (TSPS as of 2026-06-30, XLK as of 2026-07-23).
How is the overlap between TSPS and XLK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TSPS 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 TSPS and XLK?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPS own that XLK doesn't?
TSPS holds 3,327 positions and XLK holds 76; 3,324 of TSPS's positions don't appear in XLK at all, and they are 96.2% of TSPS by weight.
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Related comparisons
Sources: issuer holdings files, TSPS as of 2026-06-30, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.