VFIAX vs XLK: 38% overlap
Vanguard 500 Index Admiral and Technology Select Sector SPDR Fund share 38.1% 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VFIAX and XLK hold 75 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VFIAX | in XLK | Δ |
|---|---|---|---|
| NVDA | 7.5% | 14.1% | 6.6% |
| AAPL | 6.6% | 13.2% | 6.6% |
| MSFT | 4.3% | 7.9% | 3.6% |
| AVGO | 2.8% | 5.2% | 2.4% |
| MU | 2.0% | 4.3% | 2.3% |
| AMD | 1.5% | 4.7% | 3.2% |
| INTC | 1.0% | 3.2% | 2.2% |
| AMAT | 0.9% | 3.0% | 2.2% |
| LRCX | 0.8% | 2.7% | 1.9% |
| CSCO | 0.7% | 3.0% | 2.3% |
Where VFIAX 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 | VFIAX | XLK | Δ |
|---|---|---|---|
| Information Technology | 38.0% | 99.9% | −61.9pp |
| Financials | 11.6% | 0.0% | +11.6pp |
| Communication Services | 9.7% | 0.0% | +9.7pp |
| Consumer Discretionary | 9.3% | 0.0% | +9.3pp |
| Industrials | 8.9% | 0.0% | +8.9pp |
| Health Care | 8.9% | 0.0% | +8.9pp |
| Consumer Staples | 4.6% | 0.0% | +4.6pp |
| Energy | 3.0% | 0.0% | +3.0pp |
Δ is VFIAX 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
61.8% of VFIAX by weight, held in no part of XLK.
0.0% of XLK by weight, held in no part of VFIAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VFIAX | XLK | |
|---|---|---|
| Top 10 holdings | 36.4% | 61.3% |
| Positions held | 505 | 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 VFIAX and XLK overlap?
VFIAX and XLK overlap 38.1% by portfolio weight — moderate overlap. They share 75 holdings. The figure comes from current issuer holdings files (VFIAX as of 2026-06-30, XLK as of 2026-07-23).
How is the overlap between VFIAX and XLK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VFIAX 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 VFIAX and XLK?
That depends on your goals — we state facts, not advice. At 38.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VFIAX own that XLK doesn't?
VFIAX holds 505 positions and XLK holds 76; 430 of VFIAX's positions don't appear in XLK at all, and they are 61.8% of VFIAX by weight.
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Related comparisons
Sources: issuer holdings files, VFIAX as of 2026-06-30, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.