Data as of Sep 13, 2026. Both funds on the fields they both publish, from the same sources.
SPY vs XLK: how they differ
SPY and XLK hold 38% of their weight in the same names, and XLK returned more over the year.
SPDR S&P 500 ETF Trust and State Street(R) Technology Select Sector SPDR(R) ETF.
What they hold in common
By the books each fund has filed, SPY and XLK hold 38% of their money in the same securities at the same weight.
| Holding | SPY | XLK |
|---|---|---|
| NVIDIA CORP | 8.08% | 14.31% |
| APPLE INC | 7.33% | 12.98% |
| MICROSOFT CORP | 5.59% | 9.90% |
| BROADCOM INC | 2.61% | 4.62% |
| MICRON TECHNOLOGY INC | 1.69% | 4.11% |
| ADVANCED MICRO DEVICES | 1.25% | 4.23% |
| INTEL CORP | 0.76% | 3.27% |
| CISCO SYSTEMS INC | 0.65% | 2.80% |
| PALANTIR TECHNOLOGIES INC A | 0.58% | 2.52% |
| LAM RESEARCH CORP | 0.57% | 2.46% |
| APPLIED MATERIALS INC | 0.55% | 2.38% |
| PALO ALTO NETWORKS INC | 0.42% | 1.81% |
| Only in SPY | Only in XLK |
|---|---|
| AMAZON.COM INC 3.77% | SSI US GOV MONEY MARKET CLASS 0.05% |
| ALPHABET INC CL A 2.98% | |
| ALPHABET INC CL C 2.39% | |
| META PLATFORMS INC CLASS A 2.16% | |
| TESLA INC 1.56% | |
| JPMORGAN CHASE + CO 1.45% | |
| BERKSHIRE HATHAWAY INC CL B 1.42% | |
| ELI LILLY + CO 1.36% |
Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed. Above 50%, holding both is close to holding one of them twice. Holdings dated Sep 10, 2026.
| SPY SPDR S&P 500 ETF Trust | XLK State Street(R) Technology Select Sector SPDR(R) ETF | |
|---|---|---|
| Where it sits | Core index fund | Core index fund |
| Issuer | State Street | State Street |
| What it is | S&P 500 | Technology |
| Total return, 1 year | +17.5% | +39.2% |
| S&P 500 over the same days | +17.5% | +17.5% |
| Gap to the S&P 500 | 0.0 pts | +21.7 pts |
| Expense ratio | 0.09% | 0.08% |
| Already in the S&P 500 | 100.0% | 100.0% |
| Holdings | 505 | 74 |
SPY in plain words
SPY is an index equity fund tracking the S&P 500. Over the year to Sep 11, 2026 it returned +17.5% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.09% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 505 positions, with the top ten at 38.2%.
XLK in plain words
XLK is an index equity fund tracking the Technology. Over the year to Sep 11, 2026 it returned +39.2% with distributions reinvested, against +17.5% for the S&P 500 and +23.0% for the Nasdaq-100. The prospectus expense ratio is 0.08% a year. By its holdings filed for Sep 10, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 74 positions, with the top ten at 61.2%. It sat 5.2% below its high of Jun 2, 2026 on Sep 11, 2026.
Questions people ask
- Which returned more over the last year, SPY or XLK?
- In the year to Sep 13, 2026, with distributions reinvested, SPY returned +17.5% and XLK returned +39.2%, so XLK returned more. One year is one year; the longer windows are in the table.
- Which is cheaper, SPY or XLK?
- SPY charges 0.09% a year and XLK charges 0.08%, so XLK is cheaper. Fees come from each fund's prospectus.
- How much do SPY and XLK overlap with the S&P 500?
- By their latest filed holdings, 100% of SPY and 100% of XLK by weight is stocks the S&P 500 already holds. Between the two funds, 38% of their books are the same securities at the same weight.
Other comparisons
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Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, SPY against XLK, data as of Sep 13, 2026. https://etfiq.com/compare/any/spy-vs-xlk Free to use with attribution; the underlying files are at Open data.
A comparison is not a recommendation. Standards and sources