VIMAX vs XLE: 7% overlap
Vanguard Mid-Cap Index Admiral and Energy Select Sector SPDR Fund share 6.9% 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VIMAX and XLE hold 16 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VIMAX | in XLE | Δ |
|---|---|---|---|
| VLO | 0.7% | 4.6% | 3.9% |
| MPC | 0.7% | 4.9% | 4.2% |
| SLB | 0.7% | 4.1% | 3.5% |
| PSX | 0.7% | 4.8% | 4.2% |
| TRGP | 0.6% | 3.8% | 3.3% |
| BKR | 0.5% | 3.5% | 2.9% |
| OKE | 0.5% | 3.7% | 3.1% |
| DVN | 0.5% | 3.3% | 2.8% |
| WMB | 0.4% | 4.1% | 3.6% |
| OXY | 0.3% | 2.6% | 2.3% |
Where VIMAX and XLE 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 | VIMAX | XLE | Δ |
|---|---|---|---|
| Energy | 7.3% | 99.8% | −92.5pp |
| Industrials | 19.6% | 0.0% | +19.6pp |
| Information Technology | 16.1% | 0.0% | +16.1pp |
| Financials | 14.0% | 0.0% | +14.0pp |
| Consumer Discretionary | 8.9% | 0.0% | +8.9pp |
| Utilities | 8.4% | 0.0% | +8.4pp |
| Health Care | 7.8% | 0.0% | +7.8pp |
| Real Estate | 5.1% | 0.0% | +5.1pp |
Δ is VIMAX minus XLE, 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
92.7% of VIMAX by weight, held in no part of XLE.
48.7% of XLE by weight, held in no part of VIMAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VIMAX | XLE | |
|---|---|---|
| Top 10 holdings | 9.5% | 73.1% |
| Positions held | 283 | 23 |
| 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 VIMAX and XLE overlap?
VIMAX and XLE overlap 6.9% by portfolio weight — largely distinct portfolios. They share 16 holdings. The figure comes from current issuer holdings files (VIMAX as of 2026-06-30, XLE as of 2026-07-23).
How is the overlap between VIMAX and XLE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VIMAX holds a stock at 6% and XLE 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 VIMAX and XLE?
That depends on your goals — we state facts, not advice. At 6.9% overlap, each fund still contributes meaningfully distinct exposure.
What does VIMAX own that XLE doesn't?
VIMAX holds 283 positions and XLE holds 23; 267 of VIMAX's positions don't appear in XLE at all, and they are 92.7% of VIMAX by weight.
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Related comparisons
Sources: issuer holdings files, VIMAX as of 2026-06-30, XLE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.