FZROX vs VOOV: 51% overlap
Fidelity ZERO Total Market Index and Vanguard S&P 500 Value ETF share 51.4% 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 2 months apart — FZROX as of 2026-04-30, 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 1.5. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
FZROX and VOOV hold 405 of the same securities. The ten contributing most to the overlap figure:
| Holding | in FZROX | in VOOV | Δ |
|---|---|---|---|
| AAPL | 5.7% | 7.3% | 1.6% |
| AMZN | 3.7% | 3.8% | 0.1% |
| TSLA | 1.5% | 1.6% | 0.0% |
| XOM | 0.9% | 2.0% | 1.0% |
| JPM | 1.2% | 0.9% | 0.3% |
| WMT | 0.8% | 1.7% | 0.9% |
| V | 0.8% | 0.9% | 0.1% |
| JNJ | 0.8% | 0.9% | 0.1% |
| COST | 0.6% | 1.4% | 0.8% |
| INTC | 0.6% | 2.3% | 1.6% |
Where FZROX and VOOV 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 | FZROX | VOOV | Δ |
|---|---|---|---|
| Information Technology | 32.3% | 20.5% | +11.8pp |
| Communication Services | 10.1% | 2.9% | +7.2pp |
| Consumer Staples | 4.6% | 8.8% | −4.2pp |
| Unclassified | 3.8% | 0.0% | +3.8pp |
| Health Care | 8.6% | 12.2% | −3.6pp |
| Financials | 11.8% | 15.3% | −3.5pp |
| Energy | 3.5% | 6.6% | −3.1pp |
| Utilities | 2.3% | 4.4% | −2.2pp |
Δ is FZROX minus VOOV, 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
47.9% of FZROX by weight, held in no part of VOOV.
5.4% of VOOV by weight, held in no part of FZROX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| FZROX | VOOV | |
|---|---|---|
| Top 10 holdings | 34.0% | 23.8% |
| Positions held | 2,685 | 438 |
| Cost per $10,000 held, per year | $0 | $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 FZROX and VOOV overlap?
FZROX and VOOV overlap 51.4% by portfolio weight — substantial duplication if you hold both. They share 405 holdings. The figure comes from current issuer holdings files (FZROX as of 2026-04-30, VOOV as of 2026-06-30).
How is the overlap between FZROX and VOOV calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If FZROX holds a stock at 6% and VOOV 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 FZROX and VOOV?
That depends on your goals — we state facts, not advice. At 51.4% overlap, each fund still contributes meaningfully distinct exposure.
What does FZROX own that VOOV doesn't?
FZROX holds 2,685 positions and VOOV holds 438; 2,279 of FZROX's positions don't appear in VOOV at all, and they are 47.9% of FZROX by weight.
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Related comparisons
Sources: issuer holdings files, FZROX as of 2026-04-30, VOOV as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.