QUAL vs XLK Overlap
QUAL is an equity ETF from IShares, while XLK is a technology-focused equity ETF from SPDR. QUAL and XLK show meaningful overlap, with an estimated weighted overlap of 30.79%. They share 18 holdings in the loaded dataset, led by AAPL, NVDA, and MSFT.
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Quick Answer
QUAL is an equity ETF from IShares, while XLK is a technology-focused equity ETF from SPDR. QUAL and XLK show meaningful overlap, with an estimated weighted overlap of 30.79%. They share 18 holdings in the loaded dataset, led by AAPL, NVDA, and MSFT.
- 30.79% weighted overlap across 18 shared holdings.
- The top three shared holdings explain 57.35% of the measured overlap.
- QUAL is the broader fund, while XLK 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
- QUAL holdings
- Mar 12, 2026
- XLK holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 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
QUAL is an equity ETF from IShares, while XLK is a technology-focused equity ETF from SPDR. QUAL and XLK overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as AAPL, NVDA, and MSFT, which explains why the score lands at 30.79%.
How They Differ
QUAL is an equity ETF from IShares, while XLK is a technology-focused equity ETF from SPDR. QUAL is the broader fund, while XLK is the more targeted sleeve. XLK has the lower expense ratio, while QUAL charges more for its exposure.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 57.35% 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, QUAL is usually the wider choice. If you want the more focused tilt, XLK is the narrower expression. XLK has the lower expense ratio, while QUAL charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 57.35% 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 QUAL and XLK.
| Holding | Name | QUAL Wt. | XLK Wt. | Overlap |
|---|---|---|---|---|
| AAPL | APPLE INC | 6.24% | 13.04% | 6.24% |
| NVDA | NVIDIA CORP | 6.23% | 15.20% | 6.23% |
| MSFT | MICROSOFT CORP | 5.19% | 10.21% | 5.19% |
| LRCX | LAM RESEARCH CORP | 2.79% | 2.39% | 2.39% |
| AMAT | APPLIED MATERIAL INC | 2.22% | 2.43% | 2.22% |
| KLAC | KLA CORP | 2.39% | 1.69% | 1.69% |
| ANET | ARISTA NETWORKS INC | 1.24% | 1.27% | 1.24% |
| QCOM | QUALCOMM INC | 1.10% | 1.28% | 1.10% |
| ADBE | ADOBE INC | 1.38% | 1.02% | 1.02% |
| APP | APPLOVIN CORP CLASS A | 0.74% | 1.14% | 0.74% |
Why These ETFs Overlap
QUAL is an equity ETF from IShares, while XLK is a technology-focused equity ETF from SPDR. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are AAPL, NVDA, and MSFT, which appear in both portfolios and push the overlap score higher.
Holding both QUAL and XLK 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 QUAL and XLK
What is the overlap between QUAL and XLK?+
How many holdings do QUAL and XLK share?+
Is the QUAL and XLK overlap high?+
Why do QUAL and XLK overlap?+
Which ETF is broader, QUAL or XLK?+
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.