The Utilities Select Sector SPDR Fund, or XLU, has slightly outperformed the Vanguard Utilities Index Fund ETF, known as VPU, by concentrating its holdings in large-cap power generators tied to the AI data-center boom. XLU holds roughly 30 names with a combined 9.47% weighting in Constellation Energy and Vistra, the independent power producers signing hyperscaler contracts and pursuing nuclear restarts, while VPU spreads across more than 65 holdings including water and mid-cap utilities with little AI exposure. From January 2023 through early July 2026, XLU returned 42.75% versus VPU's 42.05%, and over five years XLU gained 62.63% compared with VPU's 60.64%. The narrow gap reflects that regulated utilities broadly re-rated on the same AI power theme, but XLU's construction rules make it the cleaner expression for investors specifically targeting the data-center power buildout.
Constellation Energy CorpConstellation Energy is highlighted as a key holding in XLU due to its AI data-center contracts and nuclear restart plans, driving outperformance.
Vistra Corp.Vistra is highlighted as a key holding in XLU due to its AI data-center contracts and nuclear restart plans, driving outperformance.
Nextera Energy Inc