VUG vs XLRE: 1% overlap
Vanguard Growth ETF and Real Estate Select Sector SPDR Fund share 1.0% 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
VUG and XLRE hold 6 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VUG | in XLRE | Δ |
|---|---|---|---|
| WELL | 0.5% | 11.7% | 11.3% |
| EQIX | 0.3% | 6.9% | 6.6% |
| O | 0.1% | 4.7% | 4.6% |
| SBAC | 0.1% | 1.9% | 1.8% |
| CSGP | 0.0% | 1.1% | 1.1% |
| CASH | 0.3% | 0.0% | 0.2% |
Where VUG 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 | VUG | XLRE | Δ |
|---|---|---|---|
| Real Estate | 1.0% | 99.9% | −99.0pp |
| Information Technology | 56.0% | 0.0% | +56.0pp |
| Communication Services | 15.3% | 0.0% | +15.3pp |
| Consumer Discretionary | 11.4% | 0.0% | +11.4pp |
| Industrials | 5.0% | 0.0% | +5.0pp |
| Health Care | 4.7% | 0.0% | +4.7pp |
| Financials | 3.9% | 0.0% | +3.9pp |
| Consumer Staples | 1.4% | 0.0% | +1.4pp |
Δ is VUG 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
98.8% of VUG by weight, held in no part of XLRE.
73.7% of XLRE by weight, held in no part of VUG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VUG | XLRE | |
|---|---|---|
| Top 10 holdings | 60.3% | 60.6% |
| Positions held | 147 | 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 VUG and XLRE overlap?
VUG and XLRE overlap 1.0% by portfolio weight — largely distinct portfolios. They share 6 holdings. The figure comes from current issuer holdings files (VUG as of 2026-06-30, XLRE as of 2026-07-23).
How is the overlap between VUG and XLRE calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VUG 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 VUG and XLRE?
That depends on your goals — we state facts, not advice. At 1.0% overlap, each fund still contributes meaningfully distinct exposure.
What does VUG own that XLRE doesn't?
VUG holds 147 positions and XLRE holds 34; 141 of VUG's positions don't appear in XLRE at all, and they are 98.8% of VUG by weight.
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Related comparisons
Sources: issuer holdings files, VUG as of 2026-06-30, XLRE as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.