ANCFX vs VYM: 21% overlap
American Funds Fundamental Investors A and Vanguard High Dividend Yield ETF share 20.6% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ANCFX and VYM hold 76 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ANCFX | in VYM | Δ |
|---|---|---|---|
| AVGO | 5.9% | 7.3% | 1.4% |
| PM | 4.0% | 1.2% | 2.8% |
| UNH | 0.8% | 1.6% | 0.8% |
| AMGN | 0.9% | 0.7% | 0.1% |
| UNP | 0.6% | 0.7% | 0.1% |
| RTX | 0.6% | 1.1% | 0.5% |
| JPM | 0.5% | 3.4% | 2.9% |
| COP | 0.5% | 0.5% | 0.0% |
| SBUX | 0.9% | 0.5% | 0.4% |
| PGR | 0.4% | 0.5% | 0.1% |
Where ANCFX and VYM 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 | VYM | Δ |
|---|---|---|---|
| Financials | 8.1% | 20.9% | −12.8pp |
| Information Technology | 27.8% | 16.7% | +11.1pp |
| Unclassified | 9.3% | 0.0% | +9.2pp |
| Health Care | 6.2% | 13.1% | −6.9pp |
| Energy | 2.3% | 8.5% | −6.2pp |
| Communication Services | 9.0% | 3.1% | +5.9pp |
| Utilities | 2.1% | 5.7% | −3.6pp |
| Consumer Discretionary | 8.9% | 6.4% | +2.5pp |
Δ is ANCFX minus VYM, 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
71.5% of ANCFX by weight, held in no part of VYM.
53.5% of VYM 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 | VYM | |
|---|---|---|
| Top 10 holdings | 34.1% | 26.0% |
| Positions held | 233 | 606 |
| Cost per $10,000 held, per year | $61 | $4 |
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 VYM overlap?
ANCFX and VYM overlap 20.6% by portfolio weight — moderate overlap. They share 76 holdings. The figure comes from current issuer holdings files (ANCFX as of 2026-03-31, VYM as of 2026-06-30).
How is the overlap between ANCFX and VYM 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 VYM 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 VYM?
That depends on your goals — we state facts, not advice. At 20.6% overlap, each fund still contributes meaningfully distinct exposure.
What does ANCFX own that VYM doesn't?
ANCFX holds 233 positions and VYM holds 606; 156 of ANCFX's positions don't appear in VYM at all, and they are 71.5% of ANCFX by weight.
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Related comparisons
Sources: issuer holdings files, ANCFX as of 2026-03-31, VYM as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.