The Sherry Sangaree cocktail is part of the "sangaree" family. Although the name of this family sometimes translates to sangria, they have nothing to do with each other. Sangarees date from the 1770s while sangrias date from the 1960s, their ingredients are also completely different.
The sherry sangaree cocktail could date back to the 18th century, the recipe was first published in 1862 in "Bartender's guide: How to mix drinks" by Jerry Thomas.
Sherry, also known as Xérès especially in France, is an Andalusian white wine.