IEFA vs VEA: 75% overlap
iShares Core MSCI EAFE ETF and Vanguard FTSE Developed Markets ETF share 75.0% 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 1.2. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IEFA and VEA hold 3,792 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in VEA | Δ |
|---|---|---|---|
| ASML | 2.8% | 2.3% | 0.4% |
| HSBA | 1.4% | 1.0% | 0.4% |
| SAN | 1.1% | 0.9% | 0.2% |
| NOVN | 1.1% | 0.9% | 0.2% |
| ROP | 1.2% | 0.9% | 0.3% |
| AZN | 1.0% | 0.9% | 0.2% |
| NESN | 1.0% | 0.8% | 0.2% |
| SIE | 0.9% | 0.7% | 0.2% |
| SHEL | 1.0% | 0.7% | 0.3% |
| 8306 | 1.0% | 0.7% | 0.3% |
Where IEFA and VEA 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 | IEFA | VEA | Δ |
|---|---|---|---|
| Unclassified | 0.0% | 8.9% | −8.9pp |
| Information Technology | 11.9% | 17.1% | −5.2pp |
| Financials | 24.2% | 20.7% | +3.5pp |
| Industrials | 19.6% | 16.9% | +2.7pp |
| Consumer Discretionary | 8.8% | 7.3% | +1.4pp |
| Health Care | 7.6% | 6.2% | +1.4pp |
| Materials | 6.4% | 5.1% | +1.3pp |
| Consumer Staples | 6.7% | 5.6% | +1.1pp |
Δ is IEFA minus VEA, 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
2.2% of IEFA by weight, held in no part of VEA.
0.0% of VEA by weight, held in no part of IEFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IEFA | VEA | |
|---|---|---|
| Top 10 holdings | 12.5% | 15.2% |
| Positions held | 2,567 | 3,792 |
| Cost per $10,000 held, per year | $7 | $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 IEFA and VEA overlap?
IEFA and VEA overlap 75.0% by portfolio weight — substantial duplication if you hold both. They share 3,792 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, VEA as of 2026-06-30).
How is the overlap between IEFA and VEA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IEFA holds a stock at 6% and VEA 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 IEFA and VEA?
That depends on your goals — we state facts, not advice. At 75.0% overlap, most of what one fund holds, the other holds too. Expense ratios: IEFA 0.07% versus VEA 0.03%.
What does IEFA own that VEA doesn't?
IEFA holds 2,567 positions and VEA holds 3,792; 217 of IEFA's positions don't appear in VEA at all, and they are 2.2% of IEFA by weight.
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.