ANCFX vs AVUV: 0% overlap
American Funds Fundamental Investors A and Avantis U.S. Small Cap Value ETF share 0.2% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 31 days apart — AVUV as of 2026-02-28, the rest through 2026-03-31. 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
ANCFX and AVUV hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ANCFX | in AVUV | Δ |
|---|---|---|---|
| OMF | 0.2% | 0.2% | 0.0% |
Where ANCFX and AVUV 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 | ANCFX | AVUV | Δ |
|---|---|---|---|
| Information Technology | 27.8% | 5.4% | +22.4pp |
| Financials | 8.1% | 24.1% | −15.9pp |
| Energy | 2.3% | 16.8% | −14.5pp |
| Consumer Discretionary | 8.9% | 16.9% | −8.0pp |
| Communication Services | 9.0% | 2.3% | +6.7pp |
| Unclassified | 9.3% | 3.5% | +5.8pp |
| Consumer Staples | 9.4% | 3.8% | +5.6pp |
| Industrials | 12.0% | 17.3% | −5.3pp |
Δ is ANCFX minus AVUV, 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
99.0% of ANCFX by weight, held in no part of AVUV.
100.0% of AVUV by weight, held in no part of ANCFX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ANCFX | AVUV | |
|---|---|---|
| Top 10 holdings | 34.1% | 8.5% |
| Positions held | 233 | 774 |
| Cost per $10,000 held, per year | $61 | $25 |
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 ANCFX and AVUV overlap?
ANCFX and AVUV overlap 0.2% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (ANCFX as of 2026-03-31, AVUV as of 2026-02-28).
How is the overlap between ANCFX and AVUV calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ANCFX holds a stock at 6% and AVUV 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 ANCFX and AVUV?
That depends on your goals — we state facts, not advice. At 0.2% overlap, each fund still contributes meaningfully distinct exposure.
What does ANCFX own that AVUV doesn't?
ANCFX holds 233 positions and AVUV holds 774; 231 of ANCFX's positions don't appear in AVUV at all, and they are 99.0% of ANCFX by weight.
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Related comparisons
Sources: issuer holdings files, ANCFX as of 2026-03-31, AVUV as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.