Both funds come from SPDR. SPLG is a U.S. large-cap core ETF, while XLI is an industrials ETF. SPLG and XLI show limited overlap, with an estimated weighted overlap of 7.21%. They share 71 holdings in the loaded dataset, led by GE, CAT, and RTX.
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Both funds come from SPDR. SPLG is a U.S. large-cap core ETF, while XLI is an industrials ETF. SPLG and XLI show limited overlap, with an estimated weighted overlap of 7.21%. They share 71 holdings in the loaded dataset, led by GE, CAT, and RTX.
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Both funds come from SPDR. SPLG is a U.S. large-cap core ETF, while XLI is an industrials ETF. SPLG and XLI 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 GE, CAT, and RTX.
Both funds come from SPDR. SPLG is a U.S. large-cap core ETF, while XLI is an industrials ETF. SPLG is the broader fund, while XLI is the more targeted sleeve. SPLG has the lower expense ratio, while XLI 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 19.88% 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, SPLG is usually the wider choice. If you want the more focused tilt, XLI is the narrower expression. SPLG has the lower expense ratio, while XLI charges more for its exposure.
Concentration
The top three shared holdings explain 19.88% 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 SPLG and XLI.
| Holding | Name | SPLG Wt. | XLI Wt. | Overlap |
|---|---|---|---|---|
| GE | GENERAL ELECTRIC | 0.57% | 5.89% | 0.57% |
| CAT | CATERPILLAR INC | 0.47% | 6.53% | 0.47% |
| RTX | RTX CORP | 0.40% | 5.13% | 0.40% |
| UBER | UBER TECHNOLOGIES INC | 0.34% | 2.93% | 0.34% |
| BA | BOEING CO/THE | 0.27% | 3.09% | 0.27% |
| GEV | GE VERNOVA INC | 0.27% | 4.66% | 0.27% |
| UNP | UNION PACIFIC CORP | 0.22% | 2.85% | 0.22% |
| DE | DEERE + CO | 0.20% | 2.81% | 0.20% |
| ADP | AUTOMATIC DATA PROCESSING | 0.18% | 1.62% | 0.18% |
| LMT | LOCKHEED MARTIN CORP | 0.17% | 2.42% | 0.17% |
Both funds come from SPDR. SPLG is a U.S. large-cap core ETF, while XLI is an industrials ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are GE, CAT, and RTX, which appear in both portfolios and push the overlap score higher.
Holding both SPLG and XLI 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.