State Street Consumer Staples Select Sector SPDR ETF(XLP)
AI Look-Through Summary
AI GeneratedThe portfolio's sector tilt is heavily skewed towards Consumer Defensive, with a staggering 97.6% allocation to this category. This concentration in defensive sectors suggests that the fund is positioned for stability and consistency, rather than growth or cyclical exposure. The geographic and market-cap profile of the holdings are not explicitly provided, but it can be inferred that the fund's top holdings are large-cap US-based consumer staples companies.
The dominance of WMT (10.8%) and COST (8.8%) in the portfolio raises concerns about concentration risk, as these two stocks account for nearly 20% of the fund's assets. The sector mix is even more concentrated than that of the broader market, which may limit the fund's ability to capture broad market trends or benefit from shifts in consumer behavior. A favorable macro environment for this portfolio would likely be one characterized by stable economic growth, low interest rates, and continued demand for staples products, while a recessionary or inflationary environment could pose significant headwinds.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 08:18:15.653737+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The portfolio demonstrates an exceptionally high degree of alignment with the Consumer Staples theme implied by its name, as nearly all top holdings are classified within the Consumer Defensive sector. The composition is heavily weighted toward established giants such as Walmart and Costco, which serve as the primary drivers for the fund's exposure to essential goods. While this concentration in mega-cap leaders provides stability consistent with a defensive strategy, it also suggests that the fund relies on broad industry titans rather than niche thematic plays or smaller growth companies often associated with broader consumer trends. The presence of tobacco and alcohol producers alongside food and household items creates a diversified view within the staples sector but reinforces a traditional definition of non-discretionary spending rather than an innovative sub-theme.
Sector coherence is nearly absolute, with Consumer Defensive securities comprising over 98% of assets, creating a clear distinction from broad market indices that would include significant technology or financial exposure. The minimal allocation to consumer cyclicals and other sectors further underscores the fund's singular focus on stability and income generation typical of this classification. However, the top-ten concentration exceeding sixty percent indicates that performance will be heavily influenced by a select group of large-cap stocks rather than being broadly distributed across hundreds of smaller companies within the theme. This structure effectively mirrors an index approach to consumer staples, offering investors direct exposure to sector leaders while limiting idiosyncratic risk from individual small-cap decisions. The data confirms the fund operates strictly as a vehicle for broad sector representation without deviation into unrelated asset classes or thematic outliers.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-23 03:19:26.86367+00
🏢 Sector Analysis
AI GeneratedThe State Street Consumer Staples Select Sector SPDR ETF exhibits an exceptionally high degree of concentration within the consumer defensive sector, which comprises 98.3% of total assets across thirty-four holdings. This near-total allocation underscores a strict adherence to its mandate of isolating companies that produce essential goods and services with historically inelastic demand patterns. The presence of only minimal exposure to consumer cyclical sectors at 1.0%, alongside negligible other allocations, reinforces the fund's structural design as a pure-play vehicle for stability rather than growth or broad diversification within the broader consumer landscape.
The investment thesis appears rooted in capital preservation and income generation through established market leaders, evidenced by the top five holdings representing Walmart, Costco, Procter & Gamble, Coca-Cola, and Philip Morris International alone accounting for significant weightings. Such a composition suggests an expectation of defensive resilience during periods of economic volatility or inflationary pressure, as these entities typically maintain pricing power and consistent cash flows regardless of broader macroeconomic headwinds. However, the top-ten concentration metric of 63.3% highlights substantial idiosyncratic risk tied to the performance of a limited number of mega-cap giants. This heavy reliance on specific industry titans means that adverse developments affecting even one or two of these dominant players could disproportionately impact overall portfolio returns, limiting diversification benefits relative to broader market indices.
From a factor tilt perspective, the fund naturally leans heavily toward value and quality characteristics inherent in mature industries with high barriers to entry, while simultaneously exhibiting low volatility traits compared to cyclical peers. The lack of significant exposure to emerging consumer trends or technology-driven retail disruption within this specific sector slice further cements its role as a static defensive anchor rather than an engine for capital appreciation driven by secular growth narratives.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 10:04:45.249989+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share XLP's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of XLP's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SPYState Street SPDR S&P 500 ETF Trust | $640B | 0.09% | 35 | 99.8% |
| ONEOONEO | $25M | — | 35 | 99.8% |
| SPTMSPTM | $12B | — | 35 | 99.8% |
| VDCVDC | $9B | — | 34 | 99.8% |
| VOOVanguard S&P 500 ETF | $1.5T | 0.03% | 33 | 99.5% |
100% of XLP's portfolio by weight is also held by SPY, which commands 41× more assets under management. When SPY receives inflows, it mechanically buys these shared stocks — dragging XLP's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofXLP's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 96% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside XLP collectively pay out 69% of their Free Cash Flow to maintain the current yield. This is a sustainable payout level with moderate room for dividend growth. Based on 93% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryXLP is up 6.9% over the last 12 months. The underlying weighted earnings growth of its constituents is -6.0%. The remaining +12.9% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 98% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of XLP's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of XLP's analyzed weight, 78% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 22% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 95% of fund weight with available data. Not investment advice.
Concentration Risk Monitor
ELEVATEDXLP's top holding WMT at 10.6% is above the 8% elevated-concentration threshold. The effective number of stocks is 20 vs. the actual count of 36.
Effective # of Stocks = 1 / HHI (Herfindahl-Hirschman Index). Variance share approximated as w² / Σw². Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
XLP has a Passive Crowding Score of 44/100. On average, 13.1% of the market capitalization of XLP's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 38 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | WMT | WALMART INC Consumer Defensive | 10.64% | 40.5x | 7/9 |
| 2 | COST | COSTCO WHOLESALE CORP Consumer Defensive | 8.86% | 47.6x | 6/9 |
| 3 | PG | PROCTER + GAMBLE CO/THE Consumer Defensive | 7.45% | 22.2x | 6/9 |
| 4 | KO | COCA COLA CO/THE Consumer Defensive | 6.94% | 26.7x | 7/9 |
| 5 | PM | PHILIP MORRIS INTERNATIONAL Consumer Defensive | 6.25% | 26.7x | 8/9 |
| 6 | CL | COLGATE PALMOLIVE CO Consumer Defensive | 4.68% | 36.5x | 5/9 |
| 7 | MNST | MONSTER BEVERAGE CORP Consumer Defensive | 4.50% | 48.3x | 5/9 |
| 8 | MO | ALTRIA GROUP INC Consumer Defensive | 4.47% | 15.2x | 6/9 |
| 9 | PEP | PEPSICO INC Consumer Defensive | 4.32% | 18.3x | 4/9 |
| 10 | MDLZ | MONDELEZ INTERNATIONAL INC A Consumer Defensive | 4.28% | 30.3x | 5/9 |
| 11 | TGT | TARGET CORP Consumer Defensive | 4.01% | 18.5x | 6/9 |
| 12 | KDP | KEURIG DR PEPPER INC Consumer Defensive | 2.69% | 23.2x | 6/9 |
| 13 | ADM | ARCHER DANIELS MIDLAND CO Consumer Defensive | 2.52% | 37.0x | 4/9 |
| 14 | SYY | SYSCO CORP Consumer Defensive | 2.48% | 22.8x | 6/9 |
| 15 | KVUE | KENVUE INC Consumer Defensive | 2.30% | 22.6x | 6/9 |
Historical Holdings Snapshots
Browse how XLP’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-18
15 holdings · 76.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.64% | 13,455,886 | — |
| 2 | COST | 8.86% | 1,361,694 | — |
| 3 | PG | 7.45% | 7,147,139 | — |
| 4 | KO | 6.94% | 11,884,998 | — |
| 5 | PM | 6.25% | 4,783,668 | — |
| 6 | CL | 4.68% | 7,227,395 | — |
| 7 | MNST | 4.50% | 6,536,981 | — |
| 8 | MO | 4.47% | 8,889,705 | — |
| 9 | PEP | 4.32% | 4,504,596 | — |
| 10 | MDLZ | 4.28% | 10,129,381 | — |
| 11 | TGT | 4.01% | 4,158,503 | — |
| 12 | KDP | 2.69% | 12,457,479 | — |
| 13 | ADM | 2.52% | 4,412,855 | — |
| 14 | SYY | 2.48% | 4,378,315 | — |
| 15 | KVUE | 2.30% | 17,579,860 | — |
2026-07-17
15 holdings · 76.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.71% | 13,376,266 | — |
| 2 | COST | 8.83% | 1,353,634 | — |
| 3 | PG | 7.49% | 7,104,859 | — |
| 4 | KO | 6.93% | 11,814,678 | — |
| 5 | PM | 6.12% | 4,755,368 | — |
| 6 | CL | 4.68% | 7,184,635 | — |
| 7 | MNST | 4.51% | 6,498,301 | — |
| 8 | MO | 4.43% | 8,837,105 | — |
| 9 | PEP | 4.31% | 4,477,936 | — |
| 10 | MDLZ | 4.21% | 10,069,441 | — |
| 11 | TGT | 4.07% | 4,133,903 | — |
| 12 | KDP | 2.67% | 12,383,759 | — |
| 13 | ADM | 2.57% | 4,386,735 | — |
| 14 | SYY | 2.50% | 4,352,415 | — |
| 15 | KVUE | 2.33% | 17,475,840 | — |
2026-07-16
15 holdings · 76.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.83% | 13,404,133 | — |
| 2 | COST | 8.88% | 1,356,455 | — |
| 3 | PG | 7.39% | 7,119,664 | — |
| 4 | KO | 6.99% | 11,839,290 | — |
| 5 | PM | 5.96% | 4,765,273 | — |
| 6 | CL | 4.66% | 7,199,601 | — |
| 7 | MNST | 4.54% | 6,511,839 | — |
| 8 | MO | 4.42% | 8,855,515 | — |
| 9 | PEP | 4.32% | 4,487,267 | — |
| 10 | MDLZ | 4.22% | 10,090,420 | — |
| 11 | TGT | 3.94% | 4,142,513 | — |
| 12 | KDP | 2.67% | 12,409,561 | — |
| 13 | ADM | 2.57% | 4,395,877 | — |
| 14 | SYY | 2.57% | 4,361,480 | — |
| 15 | KVUE | 2.33% | 17,512,247 | — |
2026-07-15
15 holdings · 76.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.78% | 13,424,038 | — |
| 2 | COST | 8.81% | 1,358,470 | — |
| 3 | PG | 7.40% | 7,130,234 | — |
| 4 | KO | 6.99% | 11,856,870 | — |
| 5 | PM | 6.02% | 4,772,348 | — |
| 6 | CL | 4.70% | 7,210,291 | — |
| 7 | MO | 4.46% | 8,868,665 | — |
| 8 | MNST | 4.43% | 6,521,509 | — |
| 9 | PEP | 4.36% | 4,493,932 | — |
| 10 | MDLZ | 4.23% | 10,105,405 | — |
| 11 | TGT | 3.91% | 4,148,663 | — |
| 12 | KDP | 2.72% | 12,427,991 | — |
| 13 | SYY | 2.55% | 4,367,955 | — |
| 14 | ADM | 2.53% | 4,402,407 | — |
| 15 | KVUE | 2.36% | 17,538,252 | — |
2026-07-14
15 holdings · 76.3% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.76% | 13,539,487 | — |
| 2 | COST | 8.76% | 1,370,157 | — |
| 3 | PG | 7.38% | 7,191,540 | — |
| 4 | KO | 6.96% | 11,958,834 | — |
| 5 | PM | 6.10% | 4,813,383 | — |
| 6 | CL | 4.68% | 7,272,293 | — |
| 7 | MO | 4.48% | 8,944,935 | — |
| 8 | MNST | 4.47% | 6,577,595 | — |
| 9 | PEP | 4.34% | 4,532,589 | — |
| 10 | MDLZ | 4.18% | 10,192,318 | — |
| 11 | TGT | 3.94% | 4,184,333 | — |
| 12 | KDP | 2.77% | 12,534,856 | — |
| 13 | SYY | 2.58% | 4,405,510 | — |
| 14 | ADM | 2.49% | 4,440,281 | — |
| 15 | KVUE | 2.40% | 17,689,081 | — |
2026-07-13
15 holdings · 76.2% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | WMT | 10.69% | 13,532,634 | — |
| 2 | COST | 8.80% | 1,369,505 | — |
| 3 | PG | 7.43% | 7,187,812 | — |
| 4 | KO | 6.95% | 11,952,690 | — |
| 5 | PM | 6.14% | 4,810,858 | — |
| 6 | CL | 4.66% | 7,268,597 | — |
| 7 | MO | 4.51% | 8,940,428 | — |
| 8 | MNST | 4.47% | 6,574,234 | — |
| 9 | PEP | 4.40% | 4,530,277 | — |
| 10 | MDLZ | 4.18% | 10,187,098 | — |
| 11 | TGT | 3.89% | 4,182,247 | — |
| 12 | KDP | 2.71% | 12,528,496 | — |
| 13 | SYY | 2.54% | 4,403,306 | — |
| 14 | ADM | 2.47% | 4,438,034 | — |
| 15 | KVUE | 2.39% | 17,680,013 | — |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove XLP Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe current price of XLP is slightly below its 50-day moving average but above the 200-day moving average, suggesting a potential near-term consolidation within an ongoing bullish trend. With an RSI of 38.7, the security appears to be in a relatively weaker short-term position, indicating possible oversold conditions that could lead to a rebound if supported by other indicators or news events.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How XLP’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Positions Increased (35)
Positions Decreased (0)
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.