EFA vs VB: 1% overlap
iShares MSCI EAFE ETF and Vanguard Small-Cap ETF share 1.5% 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
EFA and VB hold 25 of the same securities. The ten contributing most to the overlap figure:
| Holding | in EFA | in VB | Δ |
|---|---|---|---|
| CSL | 0.2% | 0.2% | 0.0% |
| AAL | 0.2% | 0.1% | 0.1% |
| CFR | 0.6% | 0.1% | 0.5% |
| NXT | 0.1% | 0.2% | 0.1% |
| TSCO | 0.2% | 0.1% | 0.1% |
| ACA | 0.1% | 0.1% | 0.0% |
| ORA | 0.2% | 0.1% | 0.1% |
| BG | 0.1% | 0.2% | 0.1% |
| AIR | 0.6% | 0.1% | 0.6% |
| EQT | 0.1% | 0.2% | 0.1% |
Where EFA and VB 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 | VB | Δ |
|---|---|---|---|
| Financials | 25.8% | 12.7% | +13.1pp |
| Real Estate | 1.6% | 7.1% | −5.5pp |
| Information Technology | 12.0% | 16.1% | −4.1pp |
| Health Care | 8.0% | 11.9% | −4.0pp |
| Consumer Staples | 7.0% | 3.5% | +3.5pp |
| Industrials | 19.0% | 21.0% | −2.0pp |
| Consumer Discretionary | 8.3% | 9.9% | −1.6pp |
| Cash and/or Derivatives | 0.6% | 1.7% | −1.2pp |
Δ is EFA minus VB, 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
94.5% of EFA by weight, held in no part of VB.
96.0% of VB 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 | VB | |
|---|---|---|
| Top 10 holdings | 14.5% | 5.6% |
| Positions held | 678 | 1,308 |
| Cost per $10,000 held, per year | $33 | $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 EFA and VB overlap?
EFA and VB overlap 1.5% by portfolio weight — largely distinct portfolios. They share 25 holdings. The figure comes from current issuer holdings files (EFA as of 2026-07-23, VB as of 2026-06-30).
How is the overlap between EFA and VB 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 VB 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 VB?
That depends on your goals — we state facts, not advice. At 1.5% overlap, each fund still contributes meaningfully distinct exposure.
What does EFA own that VB doesn't?
EFA holds 678 positions and VB holds 1,308; 652 of EFA's positions don't appear in VB at all, and they are 94.5% of EFA by weight.
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Related comparisons
Sources: issuer holdings files, EFA as of 2026-07-23, VB as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.