ANCFX vs EFA: 6% overlap
American Funds Fundamental Investors A and iShares MSCI EAFE ETF share 6.1% 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 4 months apart — ANCFX as of 2026-03-31, the rest through 2026-07-23. 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ANCFX and EFA hold 32 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ANCFX | in EFA | Δ |
|---|---|---|---|
| RR- | 0.8% | 0.7% | 0.1% |
| NESN | 0.6% | 1.2% | 0.5% |
| BATS | 2.3% | 0.6% | 1.7% |
| ASML | 0.4% | 3.2% | 2.8% |
| TTE | 0.4% | 0.8% | 0.4% |
| GLEN | 0.3% | 0.3% | 0.0% |
| SHEL | 0.3% | 1.2% | 0.9% |
| AZN | 0.3% | 1.2% | 0.9% |
| SIE | 0.2% | 1.0% | 0.8% |
| BN | 0.4% | 0.2% | 0.2% |
Where ANCFX and EFA 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 | EFA | Δ |
|---|---|---|---|
| Financials | 8.1% | 25.8% | −17.6pp |
| Information Technology | 27.8% | 12.0% | +15.8pp |
| Unclassified | 9.3% | 0.0% | +9.3pp |
| Industrials | 12.0% | 19.0% | −7.0pp |
| Communication Services | 9.0% | 3.1% | +5.8pp |
| Materials | 2.2% | 5.8% | −3.6pp |
| Consumer Staples | 9.4% | 7.0% | +2.4pp |
| Utilities | 2.1% | 4.5% | −2.4pp |
Δ is ANCFX minus EFA, 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
90.4% of ANCFX by weight, held in no part of EFA.
83.0% of EFA 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 | EFA | |
|---|---|---|
| Top 10 holdings | 34.1% | 14.5% |
| Positions held | 233 | 678 |
| Cost per $10,000 held, per year | $61 | $33 |
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 EFA overlap?
ANCFX and EFA overlap 6.1% by portfolio weight — largely distinct portfolios. They share 32 holdings. The figure comes from current issuer holdings files (ANCFX as of 2026-03-31, EFA as of 2026-07-23).
How is the overlap between ANCFX and EFA 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 EFA 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 EFA?
That depends on your goals — we state facts, not advice. At 6.1% overlap, each fund still contributes meaningfully distinct exposure.
What does ANCFX own that EFA doesn't?
ANCFX holds 233 positions and EFA holds 678; 200 of ANCFX's positions don't appear in EFA at all, and they are 90.4% of ANCFX by weight.
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Related comparisons
Sources: issuer holdings files, ANCFX as of 2026-03-31, EFA as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.