VBIAX vs XLU: 0% overlap
Vanguard Balanced Index Admiral and Utilities Select Sector SPDR Fund share 0.5% 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 — VBIAX 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VBIAX and XLU hold 4 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VBIAX | in XLU | Δ |
|---|---|---|---|
| CASH | 1.8% | 0.3% | 1.5% |
| CEG | 0.1% | 6.1% | 6.0% |
| ETR | 0.0% | 3.7% | 3.6% |
| XEL | 0.0% | 3.5% | 3.4% |
Where VBIAX and XLU 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 | VBIAX | XLU | Δ |
|---|---|---|---|
| Utilities | 1.2% | 99.7% | −98.4pp |
| Unclassified | 55.1% | 0.0% | +55.1pp |
| Treasuries | 19.1% | 0.0% | +19.1pp |
| MBS Pass-Through | 8.1% | 0.0% | +8.1pp |
| Corporate — industrial & other | 5.8% | 0.0% | +5.8pp |
| Financials | 3.6% | 0.0% | +3.6pp |
| Cash and/or Derivatives | 1.8% | 0.3% | +1.5pp |
| Health Care | 1.2% | 0.0% | +1.2pp |
Δ is VBIAX minus XLU, 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
98.9% of VBIAX by weight, held in no part of XLU.
86.4% of XLU by weight, held in no part of VBIAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VBIAX | XLU | |
|---|---|---|
| Top 10 holdings | 45.2% | 58.0% |
| Positions held | 5,119 | 33 |
| Cost per $10,000 held, per year | $7 | $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 VBIAX and XLU overlap?
VBIAX and XLU overlap 0.5% by portfolio weight — largely distinct portfolios. They share 4 holdings. The figure comes from current issuer holdings files (VBIAX as of 2026-03-31, XLU as of 2026-07-23).
How is the overlap between VBIAX and XLU calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VBIAX holds a stock at 6% and XLU 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 VBIAX and XLU?
That depends on your goals — we state facts, not advice. At 0.5% overlap, each fund still contributes meaningfully distinct exposure.
What does VBIAX own that XLU doesn't?
VBIAX holds 5,119 positions and XLU holds 33; 5,114 of VBIAX's positions don't appear in XLU at all, and they are 98.9% of VBIAX by weight.
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Related comparisons
Sources: issuer holdings files, VBIAX as of 2026-03-31, XLU as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.