VTV vs XLP: 9% overlap
Vanguard Value ETF and Consumer Staples Select Sector SPDR Fund share 8.8% 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 XLP hold 26 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTV | in XLP | Δ |
|---|---|---|---|
| WMT | 1.9% | 10.3% | 8.5% |
| PG | 1.3% | 7.4% | 6.1% |
| PM | 1.1% | 6.5% | 5.4% |
| KO | 1.0% | 6.8% | 5.8% |
| PEP | 0.7% | 4.3% | 3.6% |
| MO | 0.4% | 4.5% | 4.1% |
| MDLZ | 0.3% | 4.3% | 4.0% |
| CL | 0.3% | 4.6% | 4.3% |
| TGT | 0.2% | 4.0% | 3.7% |
| CASH | 0.4% | 0.2% | 0.3% |
Where VTV 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 | VTV | XLP | Δ |
|---|---|---|---|
| Consumer Staples | 8.7% | 99.7% | −91.0pp |
| 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 |
| Energy | 6.8% | 0.0% | +6.8pp |
| Utilities | 4.8% | 0.0% | +4.8pp |
| Consumer Discretionary | 3.9% | 0.0% | +3.9pp |
Δ is VTV 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
90.9% of VTV by weight, held in no part of XLP.
19.2% of XLP 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 | XLP | |
|---|---|---|
| Top 10 holdings | 23.6% | 62.1% |
| Positions held | 309 | 37 |
| 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 XLP overlap?
VTV and XLP overlap 8.8% by portfolio weight — largely distinct portfolios. They share 26 holdings. The figure comes from current issuer holdings files (VTV as of 2026-06-30, XLP as of 2026-07-23).
How is the overlap between VTV and XLP 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 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 VTV and XLP?
That depends on your goals — we state facts, not advice. At 8.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VTV own that XLP doesn't?
VTV holds 309 positions and XLP holds 37; 283 of VTV's positions don't appear in XLP at all, and they are 90.9% of VTV by weight.
You probably hold more than two funds
This page compares VTV and XLP. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch VTV vs XLP
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, VTV as of 2026-06-30, XLP as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.