ITOT vs VFMO: 24% overlap
iShares Core S&P Total U.S. Stock Market ETF and Vanguard U.S. Momentum Factor ETF share 24.1% 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 — VFMO as of 2026-03-31, the rest through 2026-07-27. 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ITOT and VFMO hold 610 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ITOT | in VFMO | Δ |
|---|---|---|---|
| AMD | 1.1% | 1.0% | 0.1% |
| GOOGL | 2.7% | 0.9% | 1.8% |
| JNJ | 0.9% | 1.0% | 0.1% |
| MU | 1.4% | 0.8% | 0.6% |
| AVGO | 2.5% | 0.6% | 1.9% |
| INTC | 0.6% | 0.8% | 0.2% |
| GOOG | 2.1% | 0.6% | 1.6% |
| AMAT | 0.6% | 0.9% | 0.3% |
| CAT | 0.6% | 0.8% | 0.3% |
| GE | 0.5% | 0.6% | 0.1% |
Where ITOT and VFMO 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 | VFMO | Δ |
|---|---|---|---|
| Information Technology | 34.5% | 17.0% | +17.5pp |
| Industrials | 10.2% | 24.4% | −14.3pp |
| Health Care | 9.8% | 22.3% | −12.5pp |
| Financials | 12.9% | 6.3% | +6.6pp |
| Communication Services | 8.9% | 3.4% | +5.5pp |
| Energy | 3.5% | 7.7% | −4.2pp |
| Materials | 2.1% | 6.2% | −4.1pp |
| Real Estate | 2.3% | 0.1% | +2.2pp |
Δ is ITOT minus VFMO, 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
64.5% of ITOT by weight, held in no part of VFMO.
6.4% of VFMO 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 | VFMO | |
|---|---|---|
| Top 10 holdings | 32.5% | 10.2% |
| Positions held | 2,438 | 672 |
| Cost per $10,000 held, per year | $3 | $13 |
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 VFMO overlap?
ITOT and VFMO overlap 24.1% by portfolio weight — moderate overlap. They share 610 holdings. The figure comes from current issuer holdings files (ITOT as of 2026-07-27, VFMO as of 2026-03-31).
How is the overlap between ITOT and VFMO 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 VFMO 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 VFMO?
That depends on your goals — we state facts, not advice. At 24.1% overlap, each fund still contributes meaningfully distinct exposure.
What does ITOT own that VFMO doesn't?
ITOT holds 2,438 positions and VFMO holds 672; 1,827 of ITOT's positions don't appear in VFMO at all, and they are 64.5% of ITOT by weight.
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Related comparisons
Sources: issuer holdings files, ITOT as of 2026-07-27, VFMO as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.