TSPC vs VNQ: 2% overlap
TSP C Fund — shown via S&P 500 proxy and Vanguard Real Estate ETF share 2.0% 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
TSPC and VNQ hold 32 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPC | in VNQ | Δ |
|---|---|---|---|
| WELL | 0.2% | 8.4% | 8.2% |
| CASH | 0.2% | 0.6% | 0.4% |
| PLD | 0.2% | 6.7% | 6.5% |
| EQIX | 0.2% | 5.5% | 5.3% |
| AMT | 0.1% | 4.0% | 3.9% |
| SPG | 0.1% | 3.9% | 3.7% |
| DLR | 0.1% | 3.3% | 3.2% |
| O | 0.1% | 3.0% | 3.0% |
| PSA | 0.1% | 2.7% | 2.6% |
| VTR | 0.1% | 2.2% | 2.2% |
Where TSPC and VNQ 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 | TSPC | VNQ | Δ |
|---|---|---|---|
| Real Estate | 1.8% | 84.0% | −82.2pp |
| Information Technology | 38.0% | 0.0% | +38.0pp |
| Unclassified | 0.0% | 14.7% | −14.7pp |
| Financials | 11.6% | 0.3% | +11.3pp |
| Communication Services | 9.7% | 0.0% | +9.7pp |
| Consumer Discretionary | 9.3% | 0.2% | +9.1pp |
| Industrials | 8.9% | 0.0% | +8.9pp |
| Health Care | 8.9% | 0.0% | +8.9pp |
Δ is TSPC minus VNQ, 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
98.0% of TSPC by weight, held in no part of VNQ.
37.0% of VNQ by weight, held in no part of TSPC.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TSPC | VNQ | |
|---|---|---|
| Top 10 holdings | 36.4% | 54.1% |
| Positions held | 505 | 145 |
| Cost per $10,000 held, per year | $5 | $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 TSPC and VNQ overlap?
TSPC and VNQ overlap 2.0% by portfolio weight — largely distinct portfolios. They share 32 holdings. The figure comes from current issuer holdings files (TSPC as of 2026-06-30, VNQ as of 2026-06-30).
How is the overlap between TSPC and VNQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TSPC holds a stock at 6% and VNQ 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 TSPC and VNQ?
That depends on your goals — we state facts, not advice. At 2.0% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPC own that VNQ doesn't?
TSPC holds 505 positions and VNQ holds 145; 473 of TSPC's positions don't appear in VNQ at all, and they are 98.0% of TSPC by weight.
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Related comparisons
Sources: issuer holdings files, TSPC as of 2026-06-30, VNQ as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.