HDV is a dividend-focused equity ETF from IShares, while XLE is an energy sector ETF from SPDR. HDV and XLE show meaningful overlap, with an estimated weighted overlap of 21.8%. They share 8 holdings in the loaded dataset, led by 30231G102, CVX, and COP.
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Quick Answer
HDV is a dividend-focused equity ETF from IShares, while XLE is an energy sector ETF from SPDR. HDV and XLE show meaningful overlap, with an estimated weighted overlap of 21.8%. They share 8 holdings in the loaded dataset, led by 30231G102, CVX, and COP.
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HDV is a dividend-focused equity ETF from IShares, while XLE is an energy sector ETF from SPDR. HDV and XLE overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as 30231G102, CVX, and COP, which explains why the score lands at 21.8%.
HDV is a dividend-focused equity ETF from IShares, while XLE is an energy sector ETF from SPDR. HDV is the broader fund, while XLE is the more targeted sleeve. HDV and XLE are priced very similarly on expense ratio.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 77.91% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
If you want the broader portfolio building block, HDV is usually the wider choice. If you want the more focused tilt, XLE is the narrower expression. HDV and XLE are priced very similarly on expense ratio.
Concentration
The top three shared holdings explain 77.91% 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.
These are the holdings contributing the most to the overlap score between HDV and XLE.
| Holding | Name | HDV Wt. | XLE Wt. | Overlap |
|---|---|---|---|---|
| 30231G102 | EXXON MOBIL CORP | 8.42% | 23.77% | 8.42% |
| CVX | CHEVRON CORP | 6.42% | 17.32% | 6.42% |
| COP | CONOCOPHILLIPS | 2.13% | 7.22% | 2.13% |
| WMB | WILLIAMS COMPANIES INC (THE) | 1.21% | 4.06% | 1.21% |
| EOG | EOG RESOURCES INC | 1.14% | 4.15% | 1.14% |
| KMI | KINDER MORGAN INC | 1.09% | 3.48% | 1.09% |
| SLB | SLB LTD | 1.01% | 4.07% | 1.01% |
| 127097103 | COTERRA ENERGY INC | 0.37% | 1.41% | 0.37% |
HDV is a dividend-focused equity ETF from IShares, while XLE is an energy 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 30231G102, CVX, and COP, which appear in both portfolios and push the overlap score higher.
Holding both HDV and XLE can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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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.