SWTSX vs VFMO: 23% overlap
Schwab Total Stock Market Index and Vanguard U.S. Momentum Factor ETF share 23.0% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 30 days apart — VFMO as of 2026-03-31, the rest through 2026-04-30. 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
SWTSX and VFMO hold 590 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SWTSX | in VFMO | Δ |
|---|---|---|---|
| GOOGL | 3.2% | 0.9% | 2.3% |
| AMD | 0.8% | 1.0% | 0.2% |
| JNJ | 0.8% | 1.0% | 0.2% |
| MU | 0.8% | 0.8% | 0.0% |
| INTC | 0.6% | 0.8% | 0.1% |
| AVGO | 2.8% | 0.6% | 2.2% |
| CAT | 0.6% | 0.8% | 0.2% |
| GOOG | 2.6% | 0.6% | 2.0% |
| XOM | 0.9% | 0.5% | 0.4% |
| LLY | 1.1% | 0.5% | 0.6% |
Where SWTSX 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 | SWTSX | VFMO | Δ |
|---|---|---|---|
| Information Technology | 32.3% | 17.0% | +15.3pp |
| Industrials | 9.4% | 24.4% | −15.0pp |
| Health Care | 8.7% | 22.3% | −13.6pp |
| Communication Services | 10.1% | 3.4% | +6.7pp |
| Financials | 11.9% | 6.3% | +5.6pp |
| Materials | 1.6% | 6.2% | −4.6pp |
| Energy | 3.5% | 7.7% | −4.2pp |
| Unclassified | 3.4% | 0.9% | +2.5pp |
Δ is SWTSX 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
65.1% of SWTSX by weight, held in no part of VFMO.
10.5% of VFMO by weight, held in no part of SWTSX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SWTSX | VFMO | |
|---|---|---|
| Top 10 holdings | 33.9% | 10.2% |
| Positions held | 2,939 | 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 SWTSX and VFMO overlap?
SWTSX and VFMO overlap 23.0% by portfolio weight — moderate overlap. They share 590 holdings. The figure comes from current issuer holdings files (SWTSX as of 2026-04-30, VFMO as of 2026-03-31).
How is the overlap between SWTSX and VFMO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SWTSX 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 SWTSX and VFMO?
That depends on your goals — we state facts, not advice. At 23.0% overlap, each fund still contributes meaningfully distinct exposure.
What does SWTSX own that VFMO doesn't?
SWTSX holds 2,939 positions and VFMO holds 672; 2,348 of SWTSX's positions don't appear in VFMO at all, and they are 65.1% of SWTSX by weight.
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Related comparisons
Sources: issuer holdings files, SWTSX as of 2026-04-30, VFMO as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.