Guardfolio Research · ETF Overlap
XLK vs ITOT Overlap: 32.6% of Weight in Shared Holdings
XLK (Technology Select Sector SPDR) and ITOT (iShares Core S&P Total US Stock Market) overlap by 32.6% of normalized weight through 72 shared securities, led by NVDA, AAPL, MSFT, AVGO, MU. Here is which positions contribute most and what the result can and cannot say about diversification.
Overlap Summary
Bottom line
XLK and ITOT share 32.6% of normalized fund weight across 72 securities. That is significant overlap: the funds reinforce some of the same positions, so combining them may diversify less than expected..
The Data
Exactly which securities XLK and ITOT share
The table below shows the largest contributors to overlap across the licensed full holdings, with each fund's normalized weight and the lesser weight that counts toward overlap.
| Data basis | Licensed full holdings |
|---|---|
| Fund dates | XLK 2026-08-24; ITOT 2026-08-24 |
| Coverage gate | At least 97% retained per fund |
| Holding | XLK weight | ITOT weight | Shared (min) |
|---|---|---|---|
| NVIDIA CORP (NVDA) | 14.22% | 6.98% | 6.98% |
| APPLE INC (AAPL) | 12.43% | 6.10% | 6.10% |
| MICROSOFT CORP (MSFT) | 9.82% | 4.82% | 4.82% |
| BROADCOM INC (AVGO) | 4.77% | 2.34% | 2.34% |
| MICRON TECHNOLOGY INC (MU) | 4.11% | 1.46% | 1.46% |
| ADVANCED MICRO DEVICES (AMD) | 4.02% | 1.04% | 1.04% |
| INTEL CORP (INTC) | 2.97% | 0.59% | 0.59% |
| CISCO SYSTEMS INC (CSCO) | 2.93% | 0.59% | 0.59% |
| PALANTIR TECHNOLOGIES INC A (PLTR) | 2.76% | 0.55% | 0.55% |
| LAM RESEARCH CORP (LRCX) | 2.62% | 0.53% | 0.53% |
| APPLIED MATERIALS INC (AMAT) | 2.61% | 0.52% | 0.52% |
| PALO ALTO NETWORKS INC (PANW) | 1.94% | 0.39% | 0.39% |
| ORACLE CORP (ORCL) | 1.66% | 0.33% | 0.33% |
| TEXAS INSTRUMENTS INC (TXN) | 1.61% | 0.32% | 0.32% |
| KLA CORP (KLAC) | 1.60% | 0.32% | 0.32% |
| SANDISK CORP (SNDK) | 1.58% | 0.32% | 0.32% |
| MARVELL TECHNOLOGY INC (MRVL) | 1.39% | 0.28% | 0.28% |
| CROWDSTRIKE HOLDINGS INC A (CRWD) | 1.30% | 0.26% | 0.26% |
| ARISTA NETWORKS INC (ANET) | 1.30% | 0.26% | 0.26% |
| AMPHENOL CORP CL A (APH) | 1.29% | 0.26% | 0.26% |
| Total full-holdings overlap | 98.5% | 32.6% | 32.6% |
Showing the 20 largest contributors of 72 shared securities. The total uses every shared security.
The 32.6% figure uses all reported non-cash holdings and sums the lesser normalized weight for each shared security. XLK is dated 2026-08-24 with 99.934% retained coverage; ITOT is dated 2026-08-24 with 99.91% retained coverage.
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Sector Picture
XLK vs ITOT: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (32.0% combined sector overlap).
| Sector | XLK | ITOT |
|---|---|---|
| Technology | 100.0% | 32.2% |
| Financial Services | 0.0% | 12.8% |
| Consumer Discretionary | 0.0% | 10.5% |
| Industrials | 0.0% | 9.6% |
| Healthcare | 0.0% | 9.1% |
| Communication Services | 0.0% | 7.6% |
The Verdict
Should you hold both XLK and ITOT?
XLK and ITOT share 32.6% of normalized fund weight across 72 securities. That is significant overlap: the funds reinforce some of the same positions, so combining them may diversify less than expected.
FAQ
XLK vs ITOT overlap: common questions
How much do XLK and ITOT overlap?
XLK (Technology Select Sector SPDR) and ITOT (iShares Core S&P Total US Stock Market) overlap by approximately 32.6% of normalized weight across their licensed full holdings. They share 72 securities; the largest contributors include NVDA, AAPL, MSFT, AVGO, MU, AMD, INTC, CSCO. The separately dated sector reference shows 32.0% overlap.
What stocks do XLK and ITOT both hold?
Both XLK and ITOT hold NVIDIA CORP (NVDA), APPLE INC (AAPL), MICROSOFT CORP (MSFT), BROADCOM INC (AVGO), MICRON TECHNOLOGY INC (MU), ADVANCED MICRO DEVICES (AMD), INTEL CORP (INTC), CISCO SYSTEMS INC (CSCO) among their top positions. These shared names account for the 32.6% weight overlap.
Is it worth holding both XLK and ITOT?
XLK and ITOT share 32.6% of normalized fund weight across 72 securities. That is significant overlap: the funds reinforce some of the same positions, so combining them may diversify less than expected.
What is the difference between XLK and ITOT?
XLK is a technology-sector fund (US Sector – Technology, 0.09% expense ratio) and ITOT is a total US market fund (US Total Market, 0.03% expense ratio). The dataset includes 73 XLK holdings as of 2026-08-24 and 2429 ITOT holdings as of 2026-08-24.
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