TSPS vs VXUS: 4% overlap
TSP S Fund — shown via extended-market proxy and Vanguard Total International Stock ETF share 4.5% 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
TSPS and VXUS hold 164 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TSPS | in VXUS | Δ |
|---|---|---|---|
| CASH | 3.8% | 2.4% | 1.3% |
| AAL | 0.1% | 0.1% | 0.0% |
| CFR | 0.1% | 0.3% | 0.2% |
| RKT | 0.2% | 0.1% | 0.1% |
| ALV | 0.1% | 0.4% | 0.3% |
| CSL | 0.2% | 0.1% | 0.1% |
| ORA | 0.1% | 0.1% | 0.0% |
| NXT | 0.2% | 0.1% | 0.1% |
| SUNB | 0.3% | 0.1% | 0.3% |
| AIR | 0.1% | 0.3% | 0.2% |
Where TSPS and VXUS 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 | VXUS | Δ |
|---|---|---|---|
| Unclassified | 1.0% | 9.1% | −8.1pp |
| Health Care | 13.2% | 5.3% | +7.9pp |
| Industrials | 19.8% | 13.8% | +6.0pp |
| Financials | 13.9% | 19.7% | −5.8pp |
| Information Technology | 17.6% | 20.9% | −3.3pp |
| Real Estate | 4.8% | 1.9% | +2.9pp |
| Consumer Staples | 2.7% | 4.9% | −2.1pp |
| Cash and/or Derivatives | 3.8% | 2.5% | +1.3pp |
Δ is TSPS minus VXUS, 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
89.1% of TSPS by weight, held in no part of VXUS.
93.1% of VXUS 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 | VXUS | |
|---|---|---|
| Top 10 holdings | 10.6% | 16.3% |
| Positions held | 3,327 | 8,453 |
| 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 TSPS and VXUS overlap?
TSPS and VXUS overlap 4.5% by portfolio weight — largely distinct portfolios. They share 164 holdings. The figure comes from current issuer holdings files (TSPS as of 2026-06-30, VXUS as of 2026-06-30).
How is the overlap between TSPS and VXUS 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 VXUS 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 VXUS?
That depends on your goals — we state facts, not advice. At 4.5% overlap, each fund still contributes meaningfully distinct exposure.
What does TSPS own that VXUS doesn't?
TSPS holds 3,327 positions and VXUS holds 8,453; 3,163 of TSPS's positions don't appear in VXUS at all, and they are 89.1% of TSPS by weight.
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Related comparisons
Sources: issuer holdings files, TSPS as of 2026-06-30, VXUS as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.