SMH vs XLK overlap - what they share and where they differ
SMH and XLK share 50.7% of their weight across 20 common positions, read from what each fund reported to the SEC.
Each week Ploutos reads the reported positions of the largest US equity ETFs and measures, pair by pair, the weight they share: for every stock both funds hold, the smaller of the two weights counts. Two funds tracking the same index land near 100%. A sector fund inside a broad index fund lands at roughly that sector's weight.
SMH and XLK
50.7%
20 shared positions
SMH
VanEck Semiconductor ETF
Reported positions cover 100% of the fund, 25 positions · Jun 30, 2026
Top 10: 70.2%·Holdings of SMH
XLK
State Street(R) Technology Select Sector SPDR(R) ETF
Reported positions cover 100% of the fund, 74 positions · Jun 30, 2026
Top 10: 64.5%·Holdings of XLK
Reported positions cover SMH 100%, XLK 100% of each fund. An overlap cannot exceed the smaller coverage, so a low figure can mean little overlap or thin reporting.
XLK vs SMH side by side
SMHVanEck Semiconductor ETF
25
stock positions reported to the SEC
18.0% of its weight is in 5 names XLK does not hold
XLKState Street(R) Technology Select Sector SPDR(R) ETF
74
stock positions reported to the SEC
49.2% of its weight is in 54 names SMH does not hold
Where each fund's weight sits
Largest sectors for both funds
The widest gap is Basic Materials: XLK has 1.1 points more of it.
The figures side by side
| SMH | XLK | |
|---|---|---|
| Filing date | Jun 30, 2026 | Jun 30, 2026 |
| Stock positions reported | 25 | 74 |
| Weight of the ten largest | 70.2% | 64.5% |
| Largest position | NVDA 17.6% | NVDA 14.7% |
| Held alone | 5 positions, 18.0% | 54 positions, 49.2% |
| Covered by stock positions | 100% | 100% |
Holdings they share
| Stock | In SMH | In XLK | Counted |
|---|---|---|---|
| NVDANVIDIA Corp | 17.55% | 14.65% | 14.65% |
| MUMicron Technology Inc | 5.67% | 5.42% | 5.42% |
| AMDAdvanced Micro Devices Inc | 5.63% | 5.28% | 5.28% |
| AVGOBroadcom Inc | 5.28% | 5.41% | 5.28% |
| INTCIntel Corp | 5.15% | 3.68% | 3.68% |
| AMATApplied Materials Inc | 5.74% | 3.20% | 3.20% |
| LRCXLam Research Corp | 5.31% | 3.02% | 3.02% |
| KLACKLA Corp | 5.57% | 2.20% | 2.20% |
| TXNTexas Instruments Inc | 4.17% | 1.51% | 1.51% |
| MRVLMarvell Technology Inc | 4.66% | 1.45% | 1.45% |
What each holds alone
The heaviest positions one fund reports and the other does not.
Only in SMH
Only in XLK
Questions people ask
Is SMH the same as XLK?
50.7% of their weight sits in the same 20 holdings. SMH also reports TSM, ASML, ALAB, which the other does not. XLK also reports AAPL, MSFT, CSCO, which the other does not.
How is the overlap between SMH and XLK measured?
For every stock both funds report, the smaller of the two weights counts, and the sum is the overlap. The reported positions cover 100% of SMH and 100% of XLK, so the number cannot exceed the smaller coverage.
Which holds more, XLK or SMH?
SMH reports 25 stock positions and XLK reports 74. 18.0% of SMH's weight sits in names XLK does not hold, and 49.2% of XLK's weight in names SMH does not hold. The ten largest positions are 70.2% of SMH and 64.5% of XLK.
How do SMH and XLK differ by sector?
The widest gap is Basic Materials: XLK has 1.1 points more of it. Sectors come from each holding's SIC code in its SEC record, summed by the weight the fund reports.
Where do the numbers come from?
From each fund's own N-PORT filing to the SEC, which lists every position and its weight. The comparison uses every equity position the fund reports; cash, futures and bonds are not counted, which is why a coverage figure sits next to every result. Holdings change between filings.
Add a third fund in the tool·All fund pairs
Descriptive data from public SEC filings. Nothing on this page is a recommendation to buy, sell or hold any fund or stock, and holdings change between filings.