HDV vs XLE Overlap
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 24.83%. They share 7 holdings in the loaded dataset, led by XOM, 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 24.83%. They share 7 holdings in the loaded dataset, led by XOM, CVX, and COP.
- 24.83% weighted overlap across 7 shared holdings.
- The top three shared holdings explain 82.78% of the measured overlap.
- HDV is the broader fund, while XLE is more targeted.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- HDV holdings
- Mar 12, 2026
- XLE 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
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 XOM, CVX, and COP, which explains why the score lands at 24.83%.
How They Differ
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.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 82.78% 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, 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.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 82.78% 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 HDV and XLE.
| Holding | Name | HDV Wt. | XLE Wt. | Overlap |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORP | 10.54% | 23.52% | 10.54% |
| CVX | CHEVRON CORP | 7.60% | 17.34% | 7.60% |
| COP | CONOCOPHILLIPS | 2.42% | 6.94% | 2.42% |
| WMB | WILLIAMS INC | 1.38% | 4.53% | 1.38% |
| KMI | KINDER MORGAN INC | 1.32% | 3.71% | 1.32% |
| EOG | EOG RESOURCES INC | 1.22% | 3.99% | 1.22% |
| CTRA | COTERRA ENERGY INC | 0.36% | 1.32% | 0.36% |
Why These ETFs Overlap
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 XOM, 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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Frequently Asked Questions About HDV and XLE
What is the overlap between HDV and XLE?+
How many holdings do HDV and XLE share?+
Is the HDV and XLE overlap high?+
Why do HDV and XLE overlap?+
Which ETF is broader, HDV or XLE?+
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.