AVDV vs VEA: 7% overlap
Avantis International Small Cap Value ETF and Vanguard FTSE Developed Markets ETF share 6.5% 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 4 months apart — AVDV as of 2026-02-28, 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
AVDV and VEA hold 3,792 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVDV | in VEA | Δ |
|---|---|---|---|
| CASH | 1.2% | 1.4% | 0.2% |
| RMS | 0.5% | 0.2% | 0.3% |
| ORA | 0.1% | 0.1% | 0.0% |
| PRU | 0.8% | 0.1% | 0.6% |
| AIR | 0.1% | 0.4% | 0.3% |
| 5801 | 0.1% | 0.1% | 0.0% |
| 5706 | 1.6% | 0.0% | 1.5% |
| UNI | 0.1% | 0.0% | 0.1% |
| PHOE | 0.1% | 0.0% | 0.0% |
| WCP | 0.5% | 0.0% | 0.5% |
Where AVDV 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 | AVDV | VEA | Δ |
|---|---|---|---|
| Information Technology | 4.8% | 17.1% | −12.3pp |
| Unclassified | 20.7% | 8.9% | +11.9pp |
| Materials | 15.6% | 5.1% | +10.6pp |
| Financials | 14.1% | 20.7% | −6.6pp |
| Health Care | 1.8% | 6.2% | −4.4pp |
| Consumer Discretionary | 10.6% | 7.3% | +3.3pp |
| Consumer Staples | 2.8% | 5.6% | −2.8pp |
| Energy | 5.0% | 2.9% | +2.1pp |
Δ is AVDV 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
12.2% of AVDV by weight, held in no part of VEA.
0.0% of VEA 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 | VEA | |
|---|---|---|
| Top 10 holdings | 9.0% | 15.2% |
| Positions held | 1,646 | 3,792 |
| Cost per $10,000 held, per year | $36 | $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 AVDV and VEA overlap?
AVDV and VEA overlap 6.5% by portfolio weight — largely distinct portfolios. They share 3,792 holdings. The figure comes from current issuer holdings files (AVDV as of 2026-02-28, VEA as of 2026-06-30).
How is the overlap between AVDV and VEA 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 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 AVDV and VEA?
That depends on your goals — we state facts, not advice. At 6.5% overlap, each fund still contributes meaningfully distinct exposure.
What does AVDV own that VEA doesn't?
AVDV holds 1,646 positions and VEA holds 3,792; 614 of AVDV's positions don't appear in VEA at all, and they are 12.2% of AVDV by weight.
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Related comparisons
Sources: issuer holdings files, AVDV as of 2026-02-28, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.