TSPI vs VBR: 2% overlap
TSP I Fund — shown via international proxy and Vanguard Small-Cap Value ETF share 2.3% 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
TSPI and VBR hold 94 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPI | in VBR | Δ |
|---|---|---|---|
| CASH | 2.4% | 0.8% | 1.6% |
| CFR | 0.3% | 0.2% | 0.1% |
| AAL | 0.1% | 0.3% | 0.1% |
| AIR | 0.3% | 0.1% | 0.2% |
| G | 0.1% | 0.1% | 0.0% |
| CSL | 0.1% | 0.3% | 0.2% |
| TSCO | 0.1% | 0.2% | 0.1% |
| UCB | 0.1% | 0.1% | 0.0% |
| MTN | 0.1% | 0.1% | 0.1% |
| MTX | 0.0% | 0.0% | 0.0% |
Where TSPI and VBR 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 | TSPI | VBR | Δ |
|---|---|---|---|
| Information Technology | 20.9% | 9.4% | +11.5pp |
| Unclassified | 9.1% | 0.5% | +8.6pp |
| Real Estate | 1.9% | 9.8% | −7.9pp |
| Industrials | 13.8% | 18.8% | −5.0pp |
| Consumer Discretionary | 7.5% | 11.4% | −3.9pp |
| Health Care | 5.3% | 8.0% | −2.7pp |
| Utilities | 3.0% | 5.2% | −2.2pp |
| Materials | 5.2% | 7.2% | −2.0pp |
Δ is TSPI minus VBR, 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
95.4% of TSPI by weight, held in no part of VBR.
87.3% of VBR by weight, held in no part of TSPI.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TSPI | VBR | |
|---|---|---|
| Top 10 holdings | 16.3% | 6.2% |
| Positions held | 8,453 | 839 |
| Cost per $10,000 held, per year | $5 | $5 |
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 TSPI and VBR overlap?
TSPI and VBR overlap 2.3% by portfolio weight — largely distinct portfolios. They share 94 holdings. The figure comes from current issuer holdings files (TSPI as of 2026-06-30, VBR as of 2026-06-30).
How is the overlap between TSPI and VBR calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TSPI holds a stock at 6% and VBR 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 TSPI and VBR?
That depends on your goals — we state facts, not advice. At 2.3% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPI own that VBR doesn't?
TSPI holds 8,453 positions and VBR holds 839; 8,359 of TSPI's positions don't appear in VBR at all, and they are 95.4% of TSPI by weight.
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Related comparisons
Sources: issuer holdings files, TSPI as of 2026-06-30, VBR as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.