AVDV vs FXAIX: 1% overlap
Avantis International Small Cap Value ETF and Fidelity 500 Index share 0.7% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
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
AVDV and FXAIX hold 18 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVDV | in FXAIX | Δ |
|---|---|---|---|
| CASH | 1.2% | 0.3% | 0.9% |
| WBD | 0.3% | 0.1% | 0.1% |
| DIS | 0.1% | 0.3% | 0.2% |
| RSG | 0.4% | 0.1% | 0.3% |
| PRU | 0.8% | 0.1% | 0.7% |
| EFX | 0.2% | 0.0% | 0.1% |
| BEN | 0.1% | 0.0% | 0.1% |
| ARE | 0.0% | 0.0% | 0.0% |
| EMR | 0.0% | 0.1% | 0.1% |
| FOX | 0.0% | 0.0% | 0.0% |
Where AVDV and FXAIX 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 | AVDV | FXAIX | Δ |
|---|---|---|---|
| Information Technology | 4.8% | 31.8% | −27.0pp |
| Unclassified | 20.7% | 3.3% | +17.4pp |
| Materials | 15.6% | 1.5% | +14.2pp |
| Industrials | 18.9% | 8.3% | +10.6pp |
| Communication Services | 1.8% | 10.5% | −8.7pp |
| Health Care | 1.8% | 9.6% | −7.8pp |
| Consumer Staples | 2.8% | 5.4% | −2.5pp |
| Financials | 14.1% | 12.0% | +2.1pp |
Δ is AVDV minus FXAIX, 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
98.0% of AVDV by weight, held in no part of FXAIX.
97.9% of FXAIX by weight, held in no part of AVDV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AVDV | FXAIX | |
|---|---|---|
| Top 10 holdings | 9.0% | 36.4% |
| Positions held | 1,646 | 506 |
| Cost per $10,000 held, per year | $36 | $1 |
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 AVDV and FXAIX overlap?
AVDV and FXAIX overlap 0.7% by portfolio weight — largely distinct portfolios. They share 18 holdings. The figure comes from current issuer holdings files (AVDV as of 2026-02-28, FXAIX as of 2026-02-28).
How is the overlap between AVDV and FXAIX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AVDV holds a stock at 6% and FXAIX 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 AVDV and FXAIX?
That depends on your goals — we state facts, not advice. At 0.7% overlap, each fund still contributes meaningfully distinct exposure.
What does AVDV own that FXAIX doesn't?
AVDV holds 1,646 positions and FXAIX holds 506; 1,628 of AVDV's positions don't appear in FXAIX at all, and they are 98.0% of AVDV by weight.
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Related comparisons
Sources: issuer holdings files, AVDV as of 2026-02-28, FXAIX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.