VTV vs XLE: 7% overlap
Vanguard Value ETF and Energy Select Sector SPDR Fund share 6.8% 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
VTV and XLE hold 18 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTV | in XLE | Δ |
|---|---|---|---|
| XOM | 2.1% | 20.8% | 18.7% |
| CVX | 1.2% | 15.1% | 13.9% |
| COP | 0.5% | 6.1% | 5.6% |
| WMB | 0.3% | 4.1% | 3.7% |
| VLO | 0.3% | 4.6% | 4.4% |
| MPC | 0.3% | 4.9% | 4.6% |
| SLB | 0.3% | 4.1% | 3.9% |
| EOG | 0.3% | 4.5% | 4.2% |
| PSX | 0.3% | 4.8% | 4.6% |
| KMI | 0.2% | 4.0% | 3.8% |
Where VTV 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 | VTV | XLE | Δ |
|---|---|---|---|
| Energy | 6.8% | 99.8% | −93.0pp |
| Financials | 22.1% | 0.0% | +22.1pp |
| Health Care | 15.1% | 0.0% | +15.1pp |
| Industrials | 15.0% | 0.0% | +15.0pp |
| Information Technology | 14.1% | 0.0% | +14.1pp |
| Consumer Staples | 8.7% | 0.0% | +8.7pp |
| Utilities | 4.8% | 0.0% | +4.8pp |
| Consumer Discretionary | 3.9% | 0.0% | +3.9pp |
Δ is VTV 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
92.9% of VTV by weight, held in no part of XLE.
7.5% of XLE by weight, held in no part of VTV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTV | XLE | |
|---|---|---|
| Top 10 holdings | 23.6% | 73.1% |
| Positions held | 309 | 23 |
| 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 VTV and XLE overlap?
VTV and XLE overlap 6.8% by portfolio weight — largely distinct portfolios. They share 18 holdings. The figure comes from current issuer holdings files (VTV as of 2026-06-30, XLE as of 2026-07-23).
How is the overlap between VTV and XLE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTV 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 VTV and XLE?
That depends on your goals — we state facts, not advice. At 6.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VTV own that XLE doesn't?
VTV holds 309 positions and XLE holds 23; 291 of VTV's positions don't appear in XLE at all, and they are 92.9% of VTV by weight.
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Related comparisons
Sources: issuer holdings files, VTV as of 2026-06-30, XLE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.