EFA vs FSKAX: 1% overlap
iShares MSCI EAFE ETF and Fidelity Total Market Index share 0.8% 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 5 months apart — FSKAX as of 2026-02-28, the rest through 2026-07-23. 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
EFA and FSKAX hold 40 of the same securities. The ten contributing most to the overlap figure:
| Holding | in EFA | in FSKAX | Δ |
|---|---|---|---|
| MRK | 0.1% | 0.5% | 0.4% |
| ALL | 0.1% | 0.1% | 0.0% |
| EQT | 0.1% | 0.1% | 0.0% |
| ROP | 1.4% | 0.1% | 1.3% |
| PRU | 0.2% | 0.1% | 0.1% |
| DG | 0.3% | 0.1% | 0.2% |
| HBAN | 0.1% | 0.1% | 0.0% |
| ADM | 0.1% | 0.0% | 0.0% |
| DTE | 0.5% | 0.0% | 0.4% |
| TSCO | 0.2% | 0.0% | 0.1% |
Where EFA 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 | EFA | FSKAX | Δ |
|---|---|---|---|
| Information Technology | 12.0% | 29.9% | −17.9pp |
| Financials | 25.8% | 12.2% | +13.6pp |
| Industrials | 19.0% | 9.6% | +9.4pp |
| Communication Services | 3.1% | 9.7% | −6.6pp |
| Materials | 5.8% | 1.8% | +4.0pp |
| Unclassified | 0.0% | 4.0% | −4.0pp |
| Utilities | 4.5% | 2.4% | +2.1pp |
| Consumer Staples | 7.0% | 5.1% | +1.9pp |
Δ is EFA 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
92.2% of EFA by weight, held in no part of FSKAX.
98.4% of FSKAX by weight, held in no part of EFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| EFA | FSKAX | |
|---|---|---|
| Top 10 holdings | 14.5% | 32.1% |
| Positions held | 678 | 3,754 |
| Cost per $10,000 held, per year | $33 | $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 EFA and FSKAX overlap?
EFA and FSKAX overlap 0.8% by portfolio weight — largely distinct portfolios. They share 40 holdings. The figure comes from current issuer holdings files (EFA as of 2026-07-23, FSKAX as of 2026-02-28).
How is the overlap between EFA and FSKAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If EFA 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 EFA and FSKAX?
That depends on your goals — we state facts, not advice. At 0.8% overlap, each fund still contributes meaningfully distinct exposure.
What does EFA own that FSKAX doesn't?
EFA holds 678 positions and FSKAX holds 3,754; 637 of EFA's positions don't appear in FSKAX at all, and they are 92.2% of EFA by weight.
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Related comparisons
Sources: issuer holdings files, EFA as of 2026-07-23, FSKAX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.