IEFA vs VTWAX: 22% overlap
iShares Core MSCI EAFE ETF and Vanguard Total World Stock Index Admiral share 22.5% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IEFA and VTWAX hold 2,373 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in VTWAX | Δ |
|---|---|---|---|
| ASML | 2.8% | 0.7% | 2.1% |
| HSBA | 1.4% | 0.3% | 1.1% |
| ROP | 1.2% | 0.3% | 0.9% |
| SAN | 1.1% | 0.3% | 0.9% |
| NOVN | 1.1% | 0.3% | 0.9% |
| AZN | 1.0% | 0.2% | 0.8% |
| NESN | 1.0% | 0.2% | 0.8% |
| SU | 0.7% | 0.2% | 0.4% |
| SIE | 0.9% | 0.2% | 0.7% |
| SHEL | 1.0% | 0.2% | 0.8% |
Where IEFA and VTWAX 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 | VTWAX | Δ |
|---|---|---|---|
| Information Technology | 11.9% | 30.1% | −18.2pp |
| Financials | 24.2% | 14.9% | +9.3pp |
| Industrials | 19.6% | 11.5% | +8.1pp |
| Communication Services | 3.2% | 7.0% | −3.8pp |
| Unclassified | 0.0% | 3.8% | −3.8pp |
| Materials | 6.4% | 3.3% | +3.1pp |
| Consumer Staples | 6.7% | 4.6% | +2.1pp |
| Utilities | 4.2% | 2.5% | +1.7pp |
Δ is IEFA minus VTWAX, 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
1.4% of IEFA by weight, held in no part of VTWAX.
74.7% of VTWAX 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 | VTWAX | |
|---|---|---|
| Top 10 holdings | 12.5% | 20.5% |
| Positions held | 2,567 | 9,600 |
| Cost per $10,000 held, per year | $7 | $9 |
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 VTWAX overlap?
IEFA and VTWAX overlap 22.5% by portfolio weight — moderate overlap. They share 2,373 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, VTWAX as of 2026-06-30).
How is the overlap between IEFA and VTWAX 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 VTWAX 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 VTWAX?
That depends on your goals — we state facts, not advice. At 22.5% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that VTWAX doesn't?
IEFA holds 2,567 positions and VTWAX holds 9,600; 193 of IEFA's positions don't appear in VTWAX at all, and they are 1.4% of IEFA by weight.
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, VTWAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.