IJR vs VFORX: 3% overlap
iShares Core S&P Small-Cap ETF and Vanguard Target Retirement 2040 share 3.3% 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 4 months apart — VFORX as of 2026-03-31, 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
IJR and VFORX hold 595 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IJR | in VFORX | Δ |
|---|---|---|---|
| CASH | 2.1% | 1.8% | 0.2% |
| MC | 0.2% | 0.1% | 0.1% |
| AIR | 0.3% | 0.1% | 0.2% |
| ENR | 0.1% | 0.1% | 0.0% |
| CNR | 0.2% | 0.0% | 0.2% |
| UCB | 0.2% | 0.0% | 0.2% |
| ACA | 0.4% | 0.0% | 0.4% |
| MTX | 0.1% | 0.0% | 0.1% |
| KTB | 0.2% | 0.0% | 0.2% |
| TRN | 0.2% | 0.0% | 0.2% |
Where IJR and VFORX 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 | IJR | VFORX | Δ |
|---|---|---|---|
| Industrials | 18.5% | 8.7% | +9.8pp |
| Unclassified | 0.0% | 9.7% | −9.7pp |
| Information Technology | 12.1% | 21.6% | −9.5pp |
| Treasuries | 0.0% | 8.7% | −8.7pp |
| Consumer Discretionary | 13.8% | 6.3% | +7.5pp |
| Financials | 17.8% | 12.7% | +5.1pp |
| Health Care | 10.5% | 5.8% | +4.7pp |
| Real Estate | 6.2% | 1.5% | +4.6pp |
Δ is IJR minus VFORX, 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
1.2% of IJR by weight, held in no part of VFORX.
96.5% of VFORX by weight, held in no part of IJR.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IJR | VFORX | |
|---|---|---|
| Top 10 holdings | 6.6% | 23.9% |
| Positions held | 603 | 6 |
| Cost per $10,000 held, per year | $6 | $8 |
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 IJR and VFORX overlap?
IJR and VFORX overlap 3.3% by portfolio weight — largely distinct portfolios. They share 595 holdings. The figure comes from current issuer holdings files (IJR as of 2026-07-23, VFORX as of 2026-03-31).
How is the overlap between IJR and VFORX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IJR holds a stock at 6% and VFORX 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 IJR and VFORX?
That depends on your goals — we state facts, not advice. At 3.3% overlap, each fund still contributes meaningfully distinct exposure.
What does IJR own that VFORX doesn't?
IJR holds 603 positions and VFORX holds 6; 7 of IJR's positions don't appear in VFORX at all, and they are 1.2% of IJR by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, IJR as of 2026-07-23, VFORX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.