TSPS vs VTHRX: 7% overlap
TSP S Fund — shown via extended-market proxy and Vanguard Target Retirement 2030 share 6.7% 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 3 months apart — VTHRX as of 2026-03-31, the rest through 2026-06-30. 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
TSPS and VTHRX hold 2,976 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPS | in VTHRX | Δ |
|---|---|---|---|
| CASH | 3.8% | 1.9% | 1.9% |
| ALV | 0.1% | 0.1% | 0.0% |
| CFR | 0.1% | 0.1% | 0.0% |
| AIR | 0.1% | 0.1% | 0.0% |
| MC | 0.1% | 0.1% | 0.0% |
| SPCX | 1.1% | 0.0% | 1.1% |
| SNOW | 1.0% | 0.0% | 1.0% |
| BE | 0.9% | 0.0% | 0.9% |
| NET | 0.9% | 0.0% | 0.8% |
| CNR | 0.0% | 0.0% | 0.0% |
Where TSPS and VTHRX 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 | TSPS | VTHRX | Δ |
|---|---|---|---|
| Treasuries | 0.0% | 13.6% | −13.6pp |
| Industrials | 19.8% | 6.9% | +12.9pp |
| Unclassified | 1.0% | 13.3% | −12.3pp |
| Health Care | 13.2% | 4.6% | +8.6pp |
| MBS Pass-Through | 0.0% | 5.7% | −5.7pp |
| Corporate — industrial & other | 0.0% | 4.4% | −4.4pp |
| Consumer Discretionary | 8.8% | 5.0% | +3.8pp |
| Real Estate | 4.8% | 1.2% | +3.6pp |
Δ is TSPS minus VTHRX, 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
1.5% of TSPS by weight, held in no part of VTHRX.
92.7% of VTHRX by weight, held in no part of TSPS.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TSPS | VTHRX | |
|---|---|---|
| Top 10 holdings | 10.6% | 28.9% |
| Positions held | 3,327 | 7 |
| Cost per $10,000 held, per year | $5 | $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 TSPS and VTHRX overlap?
TSPS and VTHRX overlap 6.7% by portfolio weight — largely distinct portfolios. They share 2,976 holdings. The figure comes from current issuer holdings files (TSPS as of 2026-06-30, VTHRX as of 2026-03-31).
How is the overlap between TSPS and VTHRX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TSPS holds a stock at 6% and VTHRX 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 TSPS and VTHRX?
That depends on your goals — we state facts, not advice. At 6.7% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPS own that VTHRX doesn't?
TSPS holds 3,327 positions and VTHRX holds 7; 351 of TSPS's positions don't appear in VTHRX at all, and they are 1.5% of TSPS by weight.
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Related comparisons
Sources: issuer holdings files, TSPS as of 2026-06-30, VTHRX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.