SPY vs XLV: how much do they overlap?
SPDR S&P 500 ETF Trust (SPY) · Health Care Select Sector SPDR ETF (XLV)
overlap by weight · 60 shared holdings
SPY: 504 holdings (as of 09-Jul-2026) · XLV: 61 holdings (as of 09-Jul-2026)
Low overlap
What this means
SPY and XLV 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 XLV |
|---|---|---|---|
| Eli Lilly + Co | LLY | 1.48% | 16.41% |
| Johnson + Johnson | JNJ | 0.96% | 10.63% |
| Abbvie Inc | ABBV | 0.68% | 7.53% |
| Unitedhealth Group Inc | UNH | 0.6% | 6.68% |
| Merck + Co. Inc. | MRK | 0.48% | 5.27% |
| Amgen Inc | AMGN | 0.3% | 3.35% |
| Thermo Fisher Scientific Inc | TMO | 0.3% | 3.32% |
| Gilead Sciences Inc | GILD | 0.26% | 2.85% |
| Abbott Laboratories | ABT | 0.25% | 2.8% |
| Intuitive Surgical Inc | ISRG | 0.22% | 2.48% |
FAQ
How much do SPY and XLV overlap?
SPY and XLV have a 9% overlap by weight, sharing 60 holdings (out of 504 in SPY and 61 in XLV), based on official issuer holdings as of 09-Jul-2026.
What does 9% overlap mean?
SPY and XLV hold mostly different stocks. Combining them genuinely spreads your exposure across different parts of the market.
Which stocks do SPY and XLV both hold?
The largest shared positions are Eli Lilly + Co, Johnson + Johnson, Abbvie Inc, Unitedhealth Group Inc, Merck + Co. Inc.. The full list of top shared holdings with weights in each fund is shown on this page.