HDV is a dividend-focused equity ETF from IShares, while XLU is a utilities ETF from SPDR. HDV and XLU show limited overlap, with an estimated weighted overlap of 8.67%. They share 14 holdings in the loaded dataset, led by DUK, SO, and AEP.
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Quick Answer
HDV is a dividend-focused equity ETF from IShares, while XLU is a utilities ETF from SPDR. HDV and XLU show limited overlap, with an estimated weighted overlap of 8.67%. They share 14 holdings in the loaded dataset, led by DUK, SO, and AEP.
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HDV is a dividend-focused equity ETF from IShares, while XLU is a utilities ETF from SPDR. HDV and XLU 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 DUK, SO, and AEP.
HDV is a dividend-focused equity ETF from IShares, while XLU is a utilities ETF from SPDR. HDV is the broader fund, while XLU is the more targeted sleeve. HDV and XLU 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 47.2% 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, XLU is the narrower expression. HDV and XLU are priced very similarly on expense ratio.
Concentration
The top three shared holdings explain 47.2% 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 XLU.
| Holding | Name | HDV Wt. | XLU Wt. | Overlap |
|---|---|---|---|---|
| DUK | DUKE ENERGY CORP | 1.57% | 7.15% | 1.57% |
| SO | SOUTHERN COMPANY (THE) | 1.55% | 7.47% | 1.55% |
| AEP | AMERICAN ELECTRIC POWER COMPANY INC | 0.97% | 4.98% | 0.97% |
| ETR | ENTERGY CORP | 0.61% | 3.57% | 0.61% |
| WEC | WEC ENERGY GROUP INC | 0.59% | 2.65% | 0.59% |
| PEG | PUBLIC SERVICE ENTERPRISE GROUP INC | 0.58% | 2.84% | 0.58% |
| DTE | DTE ENERGY COMPANY | 0.47% | 2.13% | 0.47% |
| FE | FIRSTENERGY CORP | 0.41% | 1.85% | 0.41% |
| AEE | AMEREN CORP | 0.38% | 2.13% | 0.38% |
| PPL | PPL CORP | 0.36% | 1.99% | 0.36% |
HDV is a dividend-focused equity ETF from IShares, while XLU is a utilities ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are DUK, SO, and AEP, which appear in both portfolios and push the overlap score higher.
Holding both HDV and XLU 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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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.