VONG vs XLF: 4% overlap
Vanguard Russell 1000 Growth ETF and Financial Select Sector SPDR Fund share 3.9% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 27 days apart — VONG as of 2026-06-30, the rest through 2026-07-27. 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
VONG and XLF hold 18 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VONG | in XLF | Δ |
|---|---|---|---|
| V | 1.6% | 7.5% | 5.9% |
| MA | 1.2% | 5.5% | 4.3% |
| BX | 0.2% | 1.2% | 1.0% |
| HOOD | 0.2% | 0.9% | 0.8% |
| AXP | 0.2% | 2.2% | 2.1% |
| C | 0.1% | 2.8% | 2.7% |
| MCO | 0.1% | 0.9% | 0.8% |
| BAC | 0.1% | 5.0% | 5.0% |
| ARES | 0.1% | 0.3% | 0.3% |
| IBKR | 0.0% | 0.5% | 0.5% |
Where VONG and XLF 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 | VONG | XLF | Δ |
|---|---|---|---|
| Financials | 4.3% | 99.9% | −95.6pp |
| Information Technology | 54.3% | 0.0% | +54.3pp |
| Communication Services | 16.1% | 0.0% | +16.1pp |
| Industrials | 8.8% | 0.0% | +8.8pp |
| Consumer Discretionary | 8.2% | 0.0% | +8.2pp |
| Health Care | 5.4% | 0.0% | +5.4pp |
| Consumer Staples | 1.3% | 0.0% | +1.3pp |
| Energy | 0.4% | 0.0% | +0.4pp |
Δ is VONG minus XLF, 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
95.9% of VONG by weight, held in no part of XLF.
66.6% of XLF by weight, held in no part of VONG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VONG | XLF | |
|---|---|---|
| Top 10 holdings | 54.3% | 56.7% |
| Positions held | 370 | 78 |
| Cost per $10,000 held, per year | $6 | $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 VONG and XLF overlap?
VONG and XLF overlap 3.9% by portfolio weight — largely distinct portfolios. They share 18 holdings. The figure comes from current issuer holdings files (VONG as of 2026-06-30, XLF as of 2026-07-27).
How is the overlap between VONG and XLF calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VONG holds a stock at 6% and XLF 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 VONG and XLF?
That depends on your goals — we state facts, not advice. At 3.9% overlap, each fund still contributes meaningfully distinct exposure.
What does VONG own that XLF doesn't?
VONG holds 370 positions and XLF holds 78; 352 of VONG's positions don't appear in XLF at all, and they are 95.9% of VONG by weight.
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Related comparisons
Sources: issuer holdings files, VONG as of 2026-06-30, XLF as of 2026-07-27. Weights are fractions of each fund. Diagnostics, not advice.