HDV is a dividend-focused equity ETF from IShares, while XLP is a consumer staples ETF from SPDR. HDV and XLP show meaningful overlap, with an estimated weighted overlap of 23.88%. They share 12 holdings in the loaded dataset, led by PG, PM, and KO.
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Quick Answer
HDV is a dividend-focused equity ETF from IShares, while XLP is a consumer staples ETF from SPDR. HDV and XLP show meaningful overlap, with an estimated weighted overlap of 23.88%. They share 12 holdings in the loaded dataset, led by PG, PM, and KO.
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HDV is a dividend-focused equity ETF from IShares, while XLP is a consumer staples ETF from SPDR. HDV and XLP overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as PG, PM, and KO, which explains why the score lands at 23.88%.
HDV is a dividend-focused equity ETF from IShares, while XLP is a consumer staples ETF from SPDR. HDV is the broader fund, while XLP is the more targeted sleeve. HDV and XLP 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 52.32% 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, XLP is the narrower expression. HDV and XLP are priced very similarly on expense ratio.
Concentration
The top three shared holdings explain 52.32% 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 XLP.
| Holding | Name | HDV Wt. | XLP Wt. | Overlap |
|---|---|---|---|---|
| PG | PROCTER & GAMBLE COMPANY (THE) | 4.46% | 7.31% | 4.46% |
| PM | PHILIP MORRIS INTERNATIONAL INC | 4.17% | 5.60% | 4.17% |
| KO | COCA-COLA COMPANY (THE) | 3.86% | 6.41% | 3.86% |
| MO | ALTRIA GROUP INC | 3.70% | 4.59% | 3.70% |
| PEP | PEPSICO INC | 3.66% | 4.62% | 3.66% |
| MDLZ | MONDELEZ INTERNATIONAL INC | 1.31% | 4.80% | 1.31% |
| KMB | KIMBERLY CLARK CORP | 0.77% | 2.16% | 0.77% |
| CL | COLGATE-PALMOLIVE COMPANY | 0.74% | 4.38% | 0.74% |
| SYY | SYSCO CORP | 0.44% | 2.31% | 0.44% |
| HSY | HERSHEY COMPANY (THE) | 0.34% | 2.08% | 0.34% |
HDV is a dividend-focused equity ETF from IShares, while XLP is a consumer staples ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are PG, PM, and KO, which appear in both portfolios and push the overlap score higher.
Holding both HDV and XLP 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.