AVUV vs FSKAX: 2% overlap
Avantis U.S. Small Cap Value ETF and Fidelity Total Market Index share 2.0% 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
AVUV and FSKAX hold 684 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVUV | in FSKAX | Δ |
|---|---|---|---|
| CASH | 0.3% | 0.7% | 0.4% |
| MLI | 0.3% | 0.0% | 0.3% |
| FIVE | 1.0% | 0.0% | 1.0% |
| WTFC | 0.0% | 0.0% | 0.0% |
| IDCC | 0.0% | 0.0% | 0.0% |
| BPOP | 0.1% | 0.0% | 0.1% |
| R | 0.6% | 0.0% | 0.6% |
| COLB | 0.5% | 0.0% | 0.4% |
| SANM | 0.2% | 0.0% | 0.2% |
| FLR | 0.0% | 0.0% | 0.0% |
Where AVUV and FSKAX 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 | AVUV | FSKAX | Δ |
|---|---|---|---|
| Information Technology | 5.4% | 29.9% | −24.5pp |
| Energy | 16.8% | 3.5% | +13.4pp |
| Financials | 24.1% | 12.2% | +11.9pp |
| Industrials | 17.3% | 9.6% | +7.7pp |
| Communication Services | 2.3% | 9.7% | −7.4pp |
| Consumer Discretionary | 16.9% | 9.6% | +7.3pp |
| Health Care | 3.5% | 9.8% | −6.3pp |
| Materials | 4.4% | 1.8% | +2.6pp |
Δ is AVUV minus FSKAX, 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
13.6% of AVUV by weight, held in no part of FSKAX.
98.1% of FSKAX by weight, held in no part of AVUV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AVUV | FSKAX | |
|---|---|---|
| Top 10 holdings | 8.5% | 32.1% |
| Positions held | 774 | 3,754 |
| Cost per $10,000 held, per year | $25 | $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 AVUV and FSKAX overlap?
AVUV and FSKAX overlap 2.0% by portfolio weight — largely distinct portfolios. They share 684 holdings. The figure comes from current issuer holdings files (AVUV as of 2026-02-28, FSKAX as of 2026-02-28).
How is the overlap between AVUV and FSKAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AVUV holds a stock at 6% and FSKAX 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 AVUV and FSKAX?
That depends on your goals — we state facts, not advice. At 2.0% overlap, each fund still contributes meaningfully distinct exposure.
What does AVUV own that FSKAX doesn't?
AVUV holds 774 positions and FSKAX holds 3,754; 90 of AVUV's positions don't appear in FSKAX at all, and they are 13.6% of AVUV by weight.
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Related comparisons
Sources: issuer holdings files, AVUV as of 2026-02-28, FSKAX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.