AIVSX vs VSMAX: 2% overlap
American Funds Investment Company of America A and Vanguard Small-Cap Index Admiral share 2.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 3 months apart — AIVSX as of 2026-03-31, the rest through 2026-06-30. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AIVSX and VSMAX hold 17 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AIVSX | in VSMAX | Δ |
|---|---|---|---|
| FTAI | 0.4% | 0.3% | 0.1% |
| SW | 0.2% | 0.3% | 0.0% |
| EXE | 0.2% | 0.3% | 0.0% |
| SWK | 0.3% | 0.2% | 0.1% |
| ATO | 0.1% | 0.3% | 0.2% |
| PNW | 0.1% | 0.2% | 0.0% |
| IP | 0.3% | 0.1% | 0.2% |
| DOW | 0.1% | 0.1% | 0.0% |
| UDR | 0.1% | 0.2% | 0.0% |
| XPO | 0.1% | 0.3% | 0.2% |
Where AIVSX and VSMAX differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | AIVSX | VSMAX | Δ |
|---|---|---|---|
| Information Technology | 29.2% | 16.1% | +13.1pp |
| Industrials | 11.8% | 21.0% | −9.2pp |
| Communication Services | 9.9% | 3.0% | +6.9pp |
| Real Estate | 0.8% | 7.1% | −6.3pp |
| Unclassified | 5.5% | 0.6% | +4.9pp |
| Financials | 8.2% | 12.7% | −4.6pp |
| Consumer Staples | 6.4% | 3.5% | +2.9pp |
| Materials | 3.1% | 5.3% | −2.3pp |
Δ is AIVSX minus VSMAX, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
97.3% of AIVSX by weight, held in no part of VSMAX.
95.6% of VSMAX by weight, held in no part of AIVSX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AIVSX | VSMAX | |
|---|---|---|
| Top 10 holdings | 39.5% | 5.6% |
| Positions held | 168 | 1,308 |
| Cost per $10,000 held, per year | $58 | $5 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do AIVSX and VSMAX overlap?
AIVSX and VSMAX overlap 2.1% by portfolio weight — largely distinct portfolios. They share 17 holdings. The figure comes from current issuer holdings files (AIVSX as of 2026-03-31, VSMAX as of 2026-06-30).
How is the overlap between AIVSX and VSMAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AIVSX holds a stock at 6% and VSMAX holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both AIVSX and VSMAX?
That depends on your goals — we state facts, not advice. At 2.1% overlap, each fund still contributes meaningfully distinct exposure.
What does AIVSX own that VSMAX doesn't?
AIVSX holds 168 positions and VSMAX holds 1,308; 151 of AIVSX's positions don't appear in VSMAX at all, and they are 97.3% of AIVSX by weight.
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Related comparisons
Sources: issuer holdings files, AIVSX as of 2026-03-31, VSMAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.