Nothing special here, just some info to satisfy my curiosity. If you take a look and some of the top funds that own Large Cap Growth stocks, and then look at what they hold, there is quite a variety after the top 4 or 5 stocks (i.e., lack of overlap) I found this to be true of sector stocks. Below, here are the names similar sector funds/ETFs Then I took the Consumer discretionary and broke down what they were holding. The Fidelity one had a much higher rate turnover (55%) so it's anyone's guess what they are holding at any one time. Materials Select Sector SPDR ETF (XLB) Fidelity Select Materials (FSDPX) Industrial Select Sector SPDR ETF (XLI) Fidelity Select Industrials (FCYIX) Energy Select Sector SPDR ETF (XLE) Fidelity Select Energy (FSENX) Technology Select Sector SPDR ETF (XLK) Fidelity Select Technology (FSPTX) Financial Select Sector SPDR ETF (XLF) Fidelity Select Financial Services Port (FIDSX) Consumer Staples Select Sector SPDR ETF (XLP) Fidelity Select Consumer Staples Port (FDFAX) Utilities Select Sector SPDR ETF (XLU) Fidelity Select Utilities (FSUTX) Health Care Select Sector SPDR ETF (XLV) Fidelity Select Health Care (FSPHX) Consumer Discret Sel Sect SPDR ETF (XLY) Fidelity Select Consumer Discret Port (FSCPX) And here is how these two, although both cons. discretionary very in holdings. So if TSLA zooms, so does XLY over FSCPX. FSCPX XLY Average AMZN 22.6% 22.2% 22.4% TSLA 9.9% 18.5% 14.2% HD 5.8% 4.5% 5.1% NKE 3.8% 4.6% 4.2% LOW 3.3% 4.3% 3.8% SBUX 3.5% 3.5% BKNG 1.6% 3.3% 2.5% TJX 2.5% 2.4% 2.4% TGT 2.4% 2.4% HLT 2.2% 2.2% DG 2.2% 2.2% EBAY 1.9% 2.2% 2.0% ROST 1.3% 2.7% 2.0% DLTR 1.6% 1.6% LEN 1.9% 1.0% 1.5% MCD 1.6% 1.3% 1.4% CPRI 1.3% 1.3% BURL 1.2% 1.0% 1.1% PVH 1.2% 1.0% 1.1% TPR 1.0% 1.0% GM 1.0% 1.0% F 1.0% 1.0% CZR 1.0% 0.8% 0.9% DECK 1.0% 0.8% 0.9% CMG 4.8% 4.8% ORLY 2.0% 2.0% APTV 2.0% 2.0% AZO 1.2% 1.2% CHDN 1.1% 1.1% LULU 1.1% 1.1% YUM 1.1% 1.1% FND 1.0% 1.0% DHI 0.9% 0.9% I have found that when one particular sector is doing well, say, energy, I buy both the SPDR and the Fidelity ones.