IWD is a U.S. value equity ETF from IShares, while XLE is an energy sector ETF from SPDR. IWD and XLE show limited overlap, with an estimated weighted overlap of 7.09%. They share 20 holdings in the loaded dataset, led by 30231G102, CVX, and COP.
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IWD is a U.S. value equity ETF from IShares, while XLE is an energy sector ETF from SPDR. IWD and XLE show limited overlap, with an estimated weighted overlap of 7.09%. They share 20 holdings in the loaded dataset, led by 30231G102, CVX, and COP.
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IWD is a U.S. value equity ETF from IShares, while XLE is an energy sector ETF from SPDR. IWD and XLE 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 30231G102, CVX, and COP.
IWD is a U.S. value equity ETF from IShares, while XLE is an energy sector ETF from SPDR. IWD is the broader fund, while XLE is the more targeted sleeve. XLE has the lower expense ratio, while IWD charges more for its exposure.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 58.84% 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, IWD is usually the wider choice. If you want the more focused tilt, XLE is the narrower expression. XLE has the lower expense ratio, while IWD charges more for its exposure.
Concentration
The top three shared holdings explain 58.84% 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 IWD and XLE.
| Holding | Name | IWD Wt. | XLE Wt. | Overlap |
|---|---|---|---|---|
| 30231G102 | EXXON MOBIL CORPORATION | 2.36% | 23.77% | 2.36% |
| CVX | CHEVRON CORPORATION | 1.28% | 17.32% | 1.28% |
| COP | CONOCOPHILLIPS | 0.54% | 7.22% | 0.54% |
| WMB | THE WILLIAMS COMPANIES, INC. | 0.28% | 4.06% | 0.28% |
| EOG | EOG RESOURCES, INC. | 0.26% | 4.15% | 0.26% |
| VLO | VALERO ENERGY CORPORATION | 0.25% | 3.99% | 0.25% |
| MPC | MARATHON PETROLEUM CORPORATION | 0.24% | 3.81% | 0.24% |
| SLB | SLB N.V. | 0.23% | 4.07% | 0.23% |
| PSX | PHILLIPS 66 | 0.22% | 3.89% | 0.22% |
| KMI | KINDER MORGAN, INC. | 0.21% | 3.48% | 0.21% |
IWD is a U.S. value 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 IWD and XLE 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.