TSPI vs VWO: 29% overlap
TSP I Fund — shown via international proxy and Vanguard FTSE Emerging Markets ETF share 28.9% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
TSPI and VWO hold 5,003 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPI | in VWO | Δ |
|---|---|---|---|
| 2330 | 4.3% | 15.7% | 11.5% |
| CASH | 2.4% | 4.2% | 1.7% |
| 700 | 0.8% | 2.8% | 2.1% |
| 9988 | 0.5% | 1.8% | 1.3% |
| 2454 | 0.4% | 1.6% | 1.2% |
| 2308 | 0.3% | 1.0% | 0.7% |
| 2317 | 0.2% | 0.8% | 0.6% |
| HDFCBANK | 0.2% | 0.8% | 0.6% |
| RELIANCE | 0.2% | 0.8% | 0.6% |
| 939 | 0.2% | 0.7% | 0.5% |
Where TSPI and VWO 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 | VWO | Δ |
|---|---|---|---|
| Information Technology | 20.9% | 31.6% | −10.6pp |
| Industrials | 13.8% | 5.9% | +8.0pp |
| Financials | 19.7% | 17.2% | +2.5pp |
| Health Care | 5.3% | 2.8% | +2.5pp |
| Communication Services | 3.3% | 5.4% | −2.2pp |
| Consumer Staples | 4.9% | 2.9% | +2.0pp |
| Cash and/or Derivatives | 2.5% | 4.2% | −1.7pp |
| Utilities | 3.0% | 2.1% | +0.8pp |
Δ is TSPI minus VWO, 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
69.0% of TSPI by weight, held in no part of VWO.
0.0% of VWO 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 | VWO | |
|---|---|---|
| Top 10 holdings | 16.3% | 30.3% |
| Positions held | 8,453 | 5,003 |
| Cost per $10,000 held, per year | $5 | $6 |
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 VWO overlap?
TSPI and VWO overlap 28.9% by portfolio weight — moderate overlap. They share 5,003 holdings. The figure comes from current issuer holdings files (TSPI as of 2026-06-30, VWO as of 2026-06-30).
How is the overlap between TSPI and VWO 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 VWO 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 VWO?
That depends on your goals — we state facts, not advice. At 28.9% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPI own that VWO doesn't?
TSPI holds 8,453 positions and VWO holds 5,003; 3,704 of TSPI's positions don't appear in VWO at all, and they are 69.0% of TSPI by weight.
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Related comparisons
Sources: issuer holdings files, TSPI as of 2026-06-30, VWO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.