SPY vs XLI: how much do they overlap?
SPDR S&P 500 ETF Trust (SPY) · Industrial Select Sector SPDR ETF (XLI)
overlap by weight · 81 shared holdings
SPY: 504 holdings (as of 09-Jul-2026) · XLI: 82 holdings (as of 09-Jul-2026)
Low overlap
What this means
SPY 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 SPY | in XLI |
|---|---|---|---|
| Caterpillar Inc | CAT | 0.67% | 7.68% |
| General Electric | GE | 0.58% | 6.66% |
| Ge Vernova Inc | GEV | 0.45% | 5.13% |
| Rtx Corp | RTX | 0.41% | 4.67% |
| Boeing Co/The | BA | 0.27% | 3.13% |
| Union Pacific Corp | UNP | 0.26% | 3.01% |
| Eaton Corp Plc | ETN | 0.24% | 2.8% |
| Uber Technologies Inc | UBER | 0.23% | 2.69% |
| Deere + Co | DE | 0.23% | 2.65% |
| Vertiv Holdings Co A | VRT | 0.19% | 2.21% |
FAQ
How much do SPY and XLI overlap?
SPY and XLI have a 8.7% overlap by weight, sharing 81 holdings (out of 504 in SPY and 82 in XLI), based on official issuer holdings as of 09-Jul-2026.
What does 8.7% overlap mean?
SPY and XLI hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Which stocks do SPY and XLI both hold?
The largest shared positions are Caterpillar Inc, General Electric, Ge Vernova Inc, Rtx Corp, Boeing Co/The. The full list of top shared holdings with weights in each fund is shown on this page.