IVE vs VFORX: 24% overlap
iShares S&P 500 Value ETF and Vanguard Target Retirement 2040 share 23.9% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
IVE and VFORX hold 436 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IVE | in VFORX | Δ |
|---|---|---|---|
| AAPL | 8.1% | 2.5% | 5.5% |
| AMZN | 3.7% | 1.4% | 2.3% |
| TSLA | 1.2% | 0.7% | 0.5% |
| JPM | 1.0% | 0.5% | 0.5% |
| JNJ | 0.9% | 0.4% | 0.5% |
| XOM | 2.2% | 0.3% | 1.9% |
| INTC | 1.6% | 0.3% | 1.3% |
| V | 0.9% | 0.3% | 0.6% |
| WMT | 1.6% | 0.3% | 1.3% |
| ABBV | 0.8% | 0.3% | 0.6% |
Where IVE 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 | IVE | VFORX | Δ |
|---|---|---|---|
| Unclassified | 0.0% | 9.7% | −9.7pp |
| Treasuries | 0.0% | 8.7% | −8.7pp |
| Health Care | 12.5% | 5.8% | +6.7pp |
| Consumer Staples | 8.7% | 3.4% | +5.3pp |
| Energy | 7.4% | 2.3% | +5.1pp |
| MBS Pass-Through | 0.0% | 3.7% | −3.7pp |
| Financials | 16.1% | 12.7% | +3.4pp |
| Consumer Discretionary | 9.6% | 6.3% | +3.3pp |
Δ is IVE 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
0.3% of IVE by weight, held in no part of VFORX.
74.3% of VFORX 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 | VFORX | |
|---|---|---|
| Top 10 holdings | 23.7% | 23.9% |
| Positions held | 440 | 6 |
| Cost per $10,000 held, per year | $18 | $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 IVE and VFORX overlap?
IVE and VFORX overlap 23.9% by portfolio weight — moderate overlap. They share 436 holdings. The figure comes from current issuer holdings files (IVE as of 2026-07-23, VFORX as of 2026-03-31).
How is the overlap between IVE and VFORX 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 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 IVE and VFORX?
That depends on your goals — we state facts, not advice. At 23.9% overlap, each fund still contributes meaningfully distinct exposure.
What does IVE own that VFORX doesn't?
IVE holds 440 positions and VFORX holds 6; 3 of IVE's positions don't appear in VFORX at all, and they are 0.3% of IVE by weight.
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Related comparisons
Sources: issuer holdings files, IVE as of 2026-07-23, VFORX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.