TSPS vs VTIVX: 8% overlap
TSP S Fund — shown via extended-market proxy and Vanguard Target Retirement 2045 share 8.4% 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 — VTIVX 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 VTIVX hold 2,976 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPS | in VTIVX | Δ |
|---|---|---|---|
| CASH | 3.8% | 1.9% | 1.8% |
| CFR | 0.1% | 0.1% | 0.0% |
| ALV | 0.1% | 0.1% | 0.0% |
| SPCX | 1.1% | 0.1% | 1.1% |
| AIR | 0.1% | 0.1% | 0.0% |
| SNOW | 1.0% | 0.1% | 0.9% |
| MC | 0.1% | 0.1% | 0.0% |
| BE | 0.9% | 0.1% | 0.8% |
| NET | 0.9% | 0.1% | 0.8% |
| ALAB | 0.7% | 0.0% | 0.7% |
Where TSPS and VTIVX 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 | VTIVX | Δ |
|---|---|---|---|
| Industrials | 19.8% | 9.6% | +10.3pp |
| Unclassified | 1.0% | 8.0% | −7.0pp |
| Health Care | 13.2% | 6.3% | +6.8pp |
| Treasuries | 0.0% | 6.2% | −6.2pp |
| Information Technology | 17.6% | 23.8% | −6.2pp |
| Real Estate | 4.8% | 1.7% | +3.1pp |
| MBS Pass-Through | 0.0% | 2.6% | −2.6pp |
| Corporate — industrial & other | 0.0% | 2.0% | −2.0pp |
Δ is TSPS minus VTIVX, 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 VTIVX.
90.8% of VTIVX 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 | VTIVX | |
|---|---|---|
| Top 10 holdings | 10.6% | 21.4% |
| Positions held | 3,327 | 6 |
| 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 VTIVX overlap?
TSPS and VTIVX overlap 8.4% 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, VTIVX as of 2026-03-31).
How is the overlap between TSPS and VTIVX 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 VTIVX 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 VTIVX?
That depends on your goals — we state facts, not advice. At 8.4% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPS own that VTIVX doesn't?
TSPS holds 3,327 positions and VTIVX holds 6; 351 of TSPS's positions don't appear in VTIVX 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, VTIVX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.