DGRO vs XLF Overlap
DGRO is a dividend-focused equity ETF from IShares, while XLF is a financial sector ETF from SPDR. DGRO and XLF show limited overlap, with an estimated weighted overlap of 16.07%. They share 43 holdings in the loaded dataset, led by JPM, BAC, and WFC.
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Quick Answer
DGRO is a dividend-focused equity ETF from IShares, while XLF is a financial sector ETF from SPDR. DGRO and XLF show limited overlap, with an estimated weighted overlap of 16.07%. They share 43 holdings in the loaded dataset, led by JPM, BAC, and WFC.
- 16.07% weighted overlap across 43 shared holdings.
- The top three shared holdings explain 32.4% of the measured overlap.
- DGRO is the broader fund, while XLF is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- DGRO holdings
- Mar 12, 2026
- XLF holdings
- Mar 12, 2026
- Overlap computed
- Mar 13, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
DGRO is a dividend-focused equity ETF from IShares, while XLF is a financial sector ETF from SPDR. DGRO and XLF do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like JPM, BAC, and WFC.
How They Differ
DGRO is a dividend-focused equity ETF from IShares, while XLF is a financial sector ETF from SPDR. DGRO is the broader fund, while XLF is the more targeted sleeve. DGRO and XLF are priced very similarly on expense ratio.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 32.4% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
If you want the broader portfolio building block, DGRO is usually the wider choice. If you want the more focused tilt, XLF is the narrower expression. DGRO and XLF are priced very similarly on expense ratio.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 32.4% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between DGRO and XLF.
| Holding | Name | DGRO Wt. | XLF Wt. | Overlap |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE & CO | 2.59% | 10.99% | 2.59% |
| BAC | BANK OF AMERICA CORP | 1.51% | 4.56% | 1.51% |
| WFC | WELLS FARGO | 1.10% | 3.44% | 1.10% |
| GS | GOLDMAN SACHS GROUP INC | 1.04% | 3.50% | 1.04% |
| MS | MORGAN STANLEY | 1.00% | 2.71% | 1.00% |
| V | VISA INC CLASS A | 0.98% | 7.42% | 0.98% |
| C | CITIGROUP INC | 0.96% | 2.73% | 0.96% |
| PNC | PNC FINANCIAL SERVICES GROUP INC | 0.63% | 1.13% | 0.63% |
| BLK | BLACKROCK INC | 0.59% | 1.95% | 0.59% |
| MA | MASTERCARD INC CLASS A | 0.53% | 5.90% | 0.53% |
Why These ETFs Overlap
DGRO is a dividend-focused equity ETF from IShares, while XLF is a financial sector ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are JPM, BAC, and WFC, which appear in both portfolios and push the overlap score higher.
Holding both DGRO and XLF can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About DGRO and XLF
What is the overlap between DGRO and XLF?+
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How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.