IVE vs VFMO: 15% overlap
iShares S&P 500 Value ETF and Vanguard U.S. Momentum Factor ETF share 14.8% 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVE and VFMO hold 88 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVE | in VFMO | Δ |
|---|---|---|---|
| JNJ | 0.9% | 1.0% | 0.1% |
| INTC | 1.5% | 0.8% | 0.7% |
| GE | 0.6% | 0.6% | 0.0% |
| XOM | 2.2% | 0.5% | 1.6% |
| CVS | 0.5% | 0.6% | 0.1% |
| MRK | 1.1% | 0.4% | 0.6% |
| TSLA | 1.1% | 0.4% | 0.7% |
| LMT | 0.4% | 0.6% | 0.2% |
| MS | 0.3% | 0.4% | 0.0% |
| USB | 0.3% | 0.4% | 0.1% |
Where IVE 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 | IVE | VFMO | Δ |
|---|---|---|---|
| Industrials | 11.5% | 24.4% | −13.0pp |
| Financials | 16.2% | 6.3% | +10.0pp |
| Health Care | 12.4% | 22.3% | −9.9pp |
| Consumer Staples | 8.8% | 2.4% | +6.4pp |
| Utilities | 4.4% | 0.0% | +4.3pp |
| Real Estate | 3.4% | 0.1% | +3.3pp |
| Information Technology | 19.8% | 17.0% | +2.8pp |
| Materials | 3.7% | 6.2% | −2.6pp |
Δ is IVE 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
74.9% of IVE by weight, held in no part of VFMO.
75.5% of VFMO by weight, held in no part of IVE.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IVE | VFMO | |
|---|---|---|
| Top 10 holdings | 23.6% | 10.2% |
| Positions held | 440 | 672 |
| Cost per $10,000 held, per year | $18 | $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 IVE and VFMO overlap?
IVE and VFMO overlap 14.8% by portfolio weight — largely distinct portfolios. They share 88 holdings. The figure comes from current issuer holdings files (IVE as of 2026-07-27, VFMO as of 2026-03-31).
How is the overlap between IVE and VFMO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IVE 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 IVE and VFMO?
That depends on your goals — we state facts, not advice. At 14.8% overlap, each fund still contributes meaningfully distinct exposure.
What does IVE own that VFMO doesn't?
IVE holds 440 positions and VFMO holds 672; 351 of IVE's positions don't appear in VFMO at all, and they are 74.9% of IVE by weight.
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Related comparisons
Sources: issuer holdings files, IVE as of 2026-07-27, VFMO as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.