Guardfolio Research · ETF Overlap
XLK vs SCHD Overlap: 3.6% of Weight in Shared Holdings
XLK (Technology Select Sector SPDR) and SCHD (Schwab US Dividend Equity) overlap by 3.6% of normalized weight through 4 shared securities, led by TXN, QCOM, ACN, SWKS. Here is which positions contribute most and what the result can and cannot say about diversification.
Overlap Summary
Bottom line
XLK and SCHD barely overlap: only 3.6% of normalized weight across 4 shared securities. For most purposes these behave as distinct exposures..
The Data
Exactly which securities XLK and SCHD 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; SCHD 2026-08-25 |
| Coverage gate | At least 97% retained per fund |
| Holding | XLK weight | SCHD weight | Shared (min) |
|---|---|---|---|
| TEXAS INSTRUMENTS INC (TXN) | 1.61% | 3.15% | 1.61% |
| QUALCOMM INC (QCOM) | 1.13% | 2.37% | 1.13% |
| ACCENTURE PLC CL A (ACN) | 0.76% | 2.76% | 0.76% |
| SKYWORKS SOLUTIONS INC (SWKS) | 0.07% | 0.24% | 0.07% |
| Total full-holdings overlap | 3.6% | 8.5% | 3.6% |
The 3.6% 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; SCHD is dated 2026-08-25 with 99.982% retained coverage.
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Sector Picture
XLK vs SCHD: sector exposure side by side
Two funds can share few holdings yet still concentrate the same sectors. Here is how the top sectors compare (9.0% combined sector overlap).
| Sector | XLK | SCHD |
|---|---|---|
| Technology | 100.0% | 8.5% |
| Consumer Staples | 0.0% | 19.4% |
| Energy | 0.0% | 19.1% |
| Healthcare | 0.0% | 15.9% |
| Industrials | 0.0% | 11.7% |
| Financial Services | 0.0% | 9.2% |
The Verdict
Should you hold both XLK and SCHD?
XLK and SCHD barely overlap: only 3.6% of normalized weight across 4 shared securities. For most purposes these behave as distinct exposures.
FAQ
XLK vs SCHD overlap: common questions
How much do XLK and SCHD overlap?
XLK (Technology Select Sector SPDR) and SCHD (Schwab US Dividend Equity) overlap by approximately 3.6% of normalized weight across their licensed full holdings. They share 4 securities; the largest contributors include TXN, QCOM, ACN, SWKS. The separately dated sector reference shows 9.0% overlap.
What stocks do XLK and SCHD both hold?
Both XLK and SCHD hold TEXAS INSTRUMENTS INC (TXN), QUALCOMM INC (QCOM), ACCENTURE PLC CL A (ACN), SKYWORKS SOLUTIONS INC (SWKS) among their top positions. These shared names account for the 3.6% weight overlap.
Is it worth holding both XLK and SCHD?
XLK and SCHD barely overlap: only 3.6% of normalized weight across 4 shared securities. For most purposes these behave as distinct exposures.
What is the difference between XLK and SCHD?
XLK is a technology-sector fund (US Sector – Technology, 0.09% expense ratio) and SCHD is a dividend fund (US Dividend, 0.06% expense ratio). The dataset includes 73 XLK holdings as of 2026-08-24 and 100 SCHD holdings as of 2026-08-25.
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