ANCFX vs VWO: 3% overlap
American Funds Fundamental Investors A and Vanguard FTSE Emerging Markets ETF share 2.7% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ANCFX and VWO hold 9 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ANCFX | in VWO | Δ |
|---|---|---|---|
| 2330 | 2.2% | 15.7% | 13.6% |
| GMEXICOB | 0.7% | 0.3% | 0.5% |
| MTN | 0.1% | 0.2% | 0.1% |
| 2454 | 0.1% | 1.6% | 1.5% |
| RDOR3 | 0.1% | 0.0% | 0.0% |
| TSM | 1.1% | 0.0% | 1.1% |
| EL | 0.1% | 0.0% | 0.1% |
| TRU | 0.1% | 0.0% | 0.0% |
| SAP | 0.1% | 0.0% | 0.1% |
Where ANCFX and VWO 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 | VWO | Δ |
|---|---|---|---|
| Financials | 8.1% | 17.2% | −9.1pp |
| Consumer Staples | 9.4% | 2.9% | +6.5pp |
| Industrials | 12.0% | 5.9% | +6.1pp |
| Cash and/or Derivatives | 0.0% | 4.2% | −4.2pp |
| Information Technology | 27.8% | 31.6% | −3.7pp |
| Communication Services | 9.0% | 5.4% | +3.5pp |
| Materials | 2.2% | 5.7% | −3.5pp |
| Health Care | 6.2% | 2.8% | +3.4pp |
Δ is ANCFX minus VWO, 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
94.6% of ANCFX by weight, held in no part of VWO.
82.1% of VWO 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 | VWO | |
|---|---|---|
| Top 10 holdings | 34.1% | 30.3% |
| Positions held | 233 | 5,003 |
| Cost per $10,000 held, per year | $61 | $6 |
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 VWO overlap?
ANCFX and VWO overlap 2.7% by portfolio weight — largely distinct portfolios. They share 9 holdings. The figure comes from current issuer holdings files (ANCFX as of 2026-03-31, VWO as of 2026-06-30).
How is the overlap between ANCFX and VWO 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 VWO 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 VWO?
That depends on your goals — we state facts, not advice. At 2.7% overlap, each fund still contributes meaningfully distinct exposure.
What does ANCFX own that VWO doesn't?
ANCFX holds 233 positions and VWO holds 5,003; 223 of ANCFX's positions don't appear in VWO at all, and they are 94.6% of ANCFX by weight.
You probably hold more than two funds
This page compares ANCFX and VWO. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch ANCFX vs VWO
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, ANCFX as of 2026-03-31, VWO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.