FXAIX vs IEFA: 1% overlap
Fidelity 500 Index and iShares Core MSCI EAFE ETF share 0.9% 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 — FXAIX 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
FXAIX and IEFA hold 37 of the same securities. The ten contributing most to the overlap figure:
| Holding | in FXAIX | in IEFA | Δ |
|---|---|---|---|
| ALL | 0.1% | 0.1% | 0.0% |
| MRK | 0.5% | 0.1% | 0.4% |
| ROP | 0.1% | 1.2% | 1.1% |
| PRU | 0.1% | 0.2% | 0.1% |
| DG | 0.1% | 0.3% | 0.2% |
| HBAN | 0.1% | 0.1% | 0.0% |
| EQT | 0.1% | 0.1% | 0.0% |
| DTE | 0.1% | 0.4% | 0.4% |
| ADM | 0.1% | 0.0% | 0.0% |
| TSCO | 0.0% | 0.2% | 0.1% |
Where FXAIX and IEFA 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 | FXAIX | IEFA | Δ |
|---|---|---|---|
| Information Technology | 31.8% | 11.9% | +19.9pp |
| Financials | 12.0% | 24.2% | −12.2pp |
| Industrials | 8.3% | 19.6% | −11.3pp |
| Communication Services | 10.5% | 3.2% | +7.3pp |
| Materials | 1.5% | 6.4% | −4.9pp |
| Unclassified | 3.3% | 0.0% | +3.3pp |
| Health Care | 9.6% | 7.6% | +2.0pp |
| Utilities | 2.4% | 4.2% | −1.7pp |
Δ is FXAIX minus IEFA, 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
96.3% of FXAIX by weight, held in no part of IEFA.
96.8% of IEFA by weight, held in no part of FXAIX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| FXAIX | IEFA | |
|---|---|---|
| Top 10 holdings | 36.4% | 12.5% |
| Positions held | 506 | 2,567 |
| Cost per $10,000 held, per year | $1 | $7 |
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 FXAIX and IEFA overlap?
FXAIX and IEFA overlap 0.9% by portfolio weight — largely distinct portfolios. They share 37 holdings. The figure comes from current issuer holdings files (FXAIX as of 2026-02-28, IEFA as of 2026-07-23).
How is the overlap between FXAIX and IEFA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If FXAIX holds a stock at 6% and IEFA 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 FXAIX and IEFA?
That depends on your goals — we state facts, not advice. At 0.9% overlap, each fund still contributes meaningfully distinct exposure.
What does FXAIX own that IEFA doesn't?
FXAIX holds 506 positions and IEFA holds 2,567; 468 of FXAIX's positions don't appear in IEFA at all, and they are 96.3% of FXAIX by weight.
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Related comparisons
Sources: issuer holdings files, FXAIX as of 2026-02-28, IEFA as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.