ANCFX vs VEA: 8% overlap
American Funds Fundamental Investors A and Vanguard FTSE Developed Markets ETF share 8.5% 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 — ANCFX 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ANCFX and VEA hold 49 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ANCFX | in VEA | Δ |
|---|---|---|---|
| 000660 | 1.7% | 3.0% | 1.3% |
| NESN | 0.6% | 0.8% | 0.2% |
| RR- | 0.8% | 0.5% | 0.3% |
| SHOP | 0.8% | 0.4% | 0.4% |
| ASML | 0.4% | 2.3% | 1.9% |
| TTE | 0.4% | 0.5% | 0.1% |
| BATS | 2.3% | 0.4% | 1.9% |
| BN | 0.4% | 0.4% | 0.1% |
| SHEL | 0.3% | 0.7% | 0.4% |
| AZN | 0.3% | 0.9% | 0.6% |
Where ANCFX and VEA 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 | VEA | Δ |
|---|---|---|---|
| Financials | 8.1% | 20.7% | −12.6pp |
| Information Technology | 27.8% | 17.1% | +10.7pp |
| Communication Services | 9.0% | 2.5% | +6.5pp |
| Industrials | 12.0% | 16.9% | −4.9pp |
| Consumer Staples | 9.4% | 5.6% | +3.8pp |
| Materials | 2.2% | 5.1% | −2.9pp |
| Consumer Discretionary | 8.9% | 7.3% | +1.5pp |
| Cash and/or Derivatives | 0.0% | 1.4% | −1.4pp |
Δ is ANCFX minus VEA, 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
84.0% of ANCFX by weight, held in no part of VEA.
84.2% of VEA 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 | VEA | |
|---|---|---|
| Top 10 holdings | 34.1% | 15.2% |
| Positions held | 233 | 3,792 |
| Cost per $10,000 held, per year | $61 | $3 |
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 VEA overlap?
ANCFX and VEA overlap 8.5% by portfolio weight — largely distinct portfolios. They share 49 holdings. The figure comes from current issuer holdings files (ANCFX as of 2026-03-31, VEA as of 2026-06-30).
How is the overlap between ANCFX and VEA 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 VEA 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 VEA?
That depends on your goals — we state facts, not advice. At 8.5% overlap, each fund still contributes meaningfully distinct exposure.
What does ANCFX own that VEA doesn't?
ANCFX holds 233 positions and VEA holds 3,792; 183 of ANCFX's positions don't appear in VEA at all, and they are 84.0% of ANCFX by weight.
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Related comparisons
Sources: issuer holdings files, ANCFX as of 2026-03-31, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.