VOOG vs XLP: 1% overlap
Vanguard S&P 500 Growth ETF and Consumer Staples Select Sector SPDR Fund share 1.3% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VOOG and XLP hold 5 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VOOG | in XLP | Δ |
|---|---|---|---|
| PM | 0.4% | 6.5% | 6.0% |
| KO | 0.4% | 6.8% | 6.5% |
| MNST | 0.2% | 4.3% | 4.1% |
| CASH | 0.2% | 0.2% | 0.0% |
| CASY | 0.1% | 2.1% | 2.0% |
Where VOOG and XLP 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 | VOOG | XLP | Δ |
|---|---|---|---|
| Consumer Staples | 1.1% | 99.7% | −98.6pp |
| Information Technology | 52.2% | 0.0% | +52.2pp |
| Communication Services | 15.2% | 0.0% | +15.2pp |
| Financials | 8.5% | 0.0% | +8.5pp |
| Consumer Discretionary | 8.5% | 0.0% | +8.5pp |
| Industrials | 6.9% | 0.0% | +6.9pp |
| Health Care | 6.2% | 0.0% | +6.2pp |
| Real Estate | 0.6% | 0.0% | +0.6pp |
Δ is VOOG minus XLP, 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
98.7% of VOOG by weight, held in no part of XLP.
79.9% of XLP by weight, held in no part of VOOG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VOOG | XLP | |
|---|---|---|
| Top 10 holdings | 56.4% | 62.1% |
| Positions held | 148 | 37 |
| 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 VOOG and XLP overlap?
VOOG and XLP overlap 1.3% by portfolio weight — largely distinct portfolios. They share 5 holdings. The figure comes from current issuer holdings files (VOOG as of 2026-06-30, XLP as of 2026-07-23).
How is the overlap between VOOG and XLP calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VOOG holds a stock at 6% and XLP 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 VOOG and XLP?
That depends on your goals — we state facts, not advice. At 1.3% overlap, each fund still contributes meaningfully distinct exposure.
What does VOOG own that XLP doesn't?
VOOG holds 148 positions and XLP holds 37; 143 of VOOG's positions don't appear in XLP at all, and they are 98.7% of VOOG by weight.
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Related comparisons
Sources: issuer holdings files, VOOG as of 2026-06-30, XLP as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.