VTV vs XLRE: 3% overlap
Vanguard Value ETF and Real Estate Select Sector SPDR Fund share 2.6% 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
VTV and XLRE hold 15 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTV | in XLRE | Δ |
|---|---|---|---|
| PLD | 0.5% | 9.1% | 8.6% |
| AMT | 0.3% | 5.2% | 4.9% |
| SPG | 0.3% | 4.9% | 4.7% |
| DLR | 0.2% | 4.7% | 4.4% |
| PSA | 0.2% | 4.6% | 4.4% |
| VTR | 0.2% | 4.8% | 4.7% |
| CBRE | 0.1% | 4.0% | 3.9% |
| IRM | 0.1% | 3.8% | 3.6% |
| CCI | 0.1% | 3.3% | 3.2% |
| EXR | 0.1% | 3.1% | 3.0% |
Where VTV 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 | VTV | XLRE | Δ |
|---|---|---|---|
| Real Estate | 2.5% | 99.9% | −97.4pp |
| 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 |
| Energy | 6.8% | 0.0% | +6.8pp |
| Utilities | 4.8% | 0.0% | +4.8pp |
Δ is VTV 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
97.0% of VTV by weight, held in no part of XLRE.
39.8% of XLRE 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 | XLRE | |
|---|---|---|
| Top 10 holdings | 23.6% | 60.6% |
| Positions held | 309 | 34 |
| 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 XLRE overlap?
VTV and XLRE overlap 2.6% by portfolio weight — largely distinct portfolios. They share 15 holdings. The figure comes from current issuer holdings files (VTV as of 2026-06-30, XLRE as of 2026-07-23).
How is the overlap between VTV and XLRE 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 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 VTV and XLRE?
That depends on your goals — we state facts, not advice. At 2.6% overlap, each fund still contributes meaningfully distinct exposure.
What does VTV own that XLRE doesn't?
VTV holds 309 positions and XLRE holds 34; 294 of VTV's positions don't appear in XLRE at all, and they are 97.0% of VTV by weight.
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Related comparisons
Sources: issuer holdings files, VTV as of 2026-06-30, XLRE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.