VOOV vs XLRE: 3% overlap
Vanguard S&P 500 Value ETF and Real Estate Select Sector SPDR Fund share 3.4% 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 — VOOV 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
VOOV and XLRE hold 31 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VOOV | in XLRE | Δ |
|---|---|---|---|
| PLD | 0.4% | 9.1% | 8.6% |
| EQIX | 0.4% | 6.8% | 6.5% |
| AMT | 0.3% | 5.1% | 4.9% |
| DLR | 0.2% | 5.0% | 4.8% |
| O | 0.2% | 4.6% | 4.4% |
| PSA | 0.2% | 4.7% | 4.5% |
| SPG | 0.1% | 5.0% | 4.8% |
| CBRE | 0.1% | 4.2% | 4.1% |
| IRM | 0.1% | 3.8% | 3.6% |
| CCI | 0.1% | 3.2% | 3.1% |
Where VOOV and XLRE 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 | VOOV | XLRE | Δ |
|---|---|---|---|
| Real Estate | 3.3% | 99.9% | −96.6pp |
| Information Technology | 20.5% | 0.0% | +20.5pp |
| Financials | 15.3% | 0.0% | +15.3pp |
| Health Care | 12.2% | 0.0% | +12.2pp |
| Industrials | 11.4% | 0.0% | +11.4pp |
| Consumer Discretionary | 10.3% | 0.0% | +10.3pp |
| Consumer Staples | 8.8% | 0.0% | +8.8pp |
| Energy | 6.6% | 0.0% | +6.6pp |
Δ is VOOV minus XLRE, 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
96.2% of VOOV by weight, held in no part of XLRE.
11.6% of XLRE by weight, held in no part of VOOV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VOOV | XLRE | |
|---|---|---|
| Top 10 holdings | 23.8% | 60.9% |
| Positions held | 438 | 34 |
| 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 VOOV and XLRE overlap?
VOOV and XLRE overlap 3.4% by portfolio weight — largely distinct portfolios. They share 31 holdings. The figure comes from current issuer holdings files (VOOV as of 2026-06-30, XLRE as of 2026-07-27).
How is the overlap between VOOV and XLRE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VOOV holds a stock at 6% and XLRE 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 VOOV and XLRE?
That depends on your goals — we state facts, not advice. At 3.4% overlap, each fund still contributes meaningfully distinct exposure.
What does VOOV own that XLRE doesn't?
VOOV holds 438 positions and XLRE holds 34; 407 of VOOV's positions don't appear in XLRE at all, and they are 96.2% of VOOV by weight.
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Related comparisons
Sources: issuer holdings files, VOOV as of 2026-06-30, XLRE as of 2026-07-27. Weights are fractions of each fund. Diagnostics, not advice.