ITOT vs VEA: 2% overlap
iShares Core S&P Total U.S. Stock Market ETF and Vanguard FTSE Developed Markets ETF share 1.6% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ITOT and VEA hold 158 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ITOT | in VEA | Δ |
|---|---|---|---|
| CASH | 0.2% | 1.4% | 1.2% |
| ALL | 0.1% | 0.1% | 0.0% |
| MRK | 0.4% | 0.1% | 0.4% |
| PRU | 0.1% | 0.1% | 0.1% |
| ROP | 0.0% | 0.9% | 0.8% |
| HBAN | 0.0% | 0.1% | 0.0% |
| EQT | 0.0% | 0.0% | 0.0% |
| SUNB | 0.0% | 0.1% | 0.0% |
| DTE | 0.0% | 0.3% | 0.2% |
| PPL | 0.0% | 0.1% | 0.0% |
Where ITOT 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 | ITOT | VEA | Δ |
|---|---|---|---|
| Information Technology | 35.2% | 17.1% | +18.1pp |
| Unclassified | 0.0% | 8.9% | −8.9pp |
| Financials | 12.7% | 20.7% | −8.0pp |
| Industrials | 10.1% | 16.9% | −6.7pp |
| Communication Services | 8.7% | 2.5% | +6.2pp |
| Health Care | 9.7% | 6.2% | +3.5pp |
| Materials | 2.1% | 5.1% | −3.0pp |
| Consumer Discretionary | 8.8% | 7.3% | +1.4pp |
Δ is ITOT 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
95.2% of ITOT by weight, held in no part of VEA.
91.0% of VEA by weight, held in no part of ITOT.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ITOT | VEA | |
|---|---|---|
| Top 10 holdings | 32.7% | 15.2% |
| Positions held | 2,440 | 3,792 |
| Cost per $10,000 held, per year | $3 | $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 ITOT and VEA overlap?
ITOT and VEA overlap 1.6% by portfolio weight — largely distinct portfolios. They share 158 holdings. The figure comes from current issuer holdings files (ITOT as of 2026-07-23, VEA as of 2026-06-30).
How is the overlap between ITOT and VEA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ITOT 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 ITOT and VEA?
That depends on your goals — we state facts, not advice. At 1.6% overlap, each fund still contributes meaningfully distinct exposure.
What does ITOT own that VEA doesn't?
ITOT holds 2,440 positions and VEA holds 3,792; 2,281 of ITOT's positions don't appear in VEA at all, and they are 95.2% of ITOT by weight.
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Related comparisons
Sources: issuer holdings files, ITOT as of 2026-07-23, VEA as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.