VO vs XLK: 10% overlap
Vanguard Mid-Cap ETF and Technology Select Sector SPDR Fund share 10.0% 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
VO and XLK hold 29 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VO | in XLK | Δ |
|---|---|---|---|
| WDC | 1.1% | 1.3% | 0.2% |
| STX | 1.0% | 1.4% | 0.3% |
| DDOG | 0.8% | 0.6% | 0.3% |
| MPWR | 0.6% | 0.5% | 0.2% |
| FTNT | 0.5% | 0.6% | 0.2% |
| MSI | 0.7% | 0.5% | 0.2% |
| LITE | 0.6% | 0.4% | 0.2% |
| HPE | 0.6% | 0.4% | 0.1% |
| COHR | 0.7% | 0.4% | 0.3% |
| TER | 0.7% | 0.4% | 0.3% |
Where VO 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 | VO | XLK | Δ |
|---|---|---|---|
| Information Technology | 16.1% | 99.9% | −83.8pp |
| Industrials | 19.6% | 0.0% | +19.6pp |
| 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 |
| Energy | 7.3% | 0.0% | +7.3pp |
| Real Estate | 5.1% | 0.0% | +5.1pp |
Δ is VO 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
86.4% of VO by weight, held in no part of XLK.
89.1% of XLK by weight, held in no part of VO.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VO | XLK | |
|---|---|---|
| Top 10 holdings | 9.5% | 61.3% |
| Positions held | 283 | 76 |
| Cost per $10,000 held, per year | $3 | $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 VO and XLK overlap?
VO and XLK overlap 10.0% by portfolio weight — largely distinct portfolios. They share 29 holdings. The figure comes from current issuer holdings files (VO as of 2026-06-30, XLK as of 2026-07-23).
How is the overlap between VO and XLK calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VO 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 VO and XLK?
That depends on your goals — we state facts, not advice. At 10.0% overlap, each fund still contributes meaningfully distinct exposure.
What does VO own that XLK doesn't?
VO holds 283 positions and XLK holds 76; 254 of VO's positions don't appear in XLK at all, and they are 86.4% of VO by weight.
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Related comparisons
Sources: issuer holdings files, VO as of 2026-06-30, XLK as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.