NOBL vs XLI: how much do they overlap?
ProShares S&P 500 Dividend Aristocrats ETF (NOBL) · Industrial Select Sector SPDR ETF (XLI)
overlap by weight · 15 shared holdings
NOBL: 69 holdings (as of 2026-02-28) · XLI: 82 holdings (as of 09-Jul-2026)
Note: the two funds' latest official filings have different dates, which can understate overlap slightly for funds tracking similar indexes.
Low overlap
What this means
NOBL and XLI hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Overlap by weight sums the smaller of the two funds' weights for every stock they both hold — it answers "how much of my money is in the same stocks either way?" See methodology.
Top shared holdings
| Company | Ticker | in NOBL | in XLI |
|---|---|---|---|
| Caterpillar, Inc. | CAT | 1.6% | 7.68% |
| Emerson Electric Co. | EMR | 1.4% | 1.37% |
| General Dynamics Corp. | GD | 1.36% | 1.69% |
| Illinois Tool Works, Inc. | ITW | 1.55% | 1.24% |
| Automatic Data Processing, Inc. | ADP | 1.16% | 1.71% |
| Cintas Corp. | CTAS | 1.43% | 1.07% |
| WW Grainger, Inc. | GWW | 1.5% | 1.05% |
| Fastenal Co. | FAST | 1.43% | 0.94% |
| Dover Corp. | DOV | 1.5% | 0.51% |
| CH Robinson Worldwide, Inc. | CHRW | 1.43% | 0.4% |
FAQ
How much do NOBL and XLI overlap?
NOBL and XLI have a 11.9% overlap by weight, sharing 15 holdings (out of 69 in NOBL and 82 in XLI), based on official issuer holdings as of 2026-02-28.
What does 11.9% overlap mean?
NOBL and XLI hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Which stocks do NOBL and XLI both hold?
The largest shared positions are Caterpillar, Inc., Emerson Electric Co., General Dynamics Corp., Illinois Tool Works, Inc., Automatic Data Processing, Inc.. The full list of top shared holdings with weights in each fund is shown on this page.