VB vs VIMAX: 4% overlap
Vanguard Small-Cap ETF and Vanguard Mid-Cap Index Admiral share 4.0% 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
VB and VIMAX hold 34 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VB | in VIMAX | Δ |
|---|---|---|---|
| CASH | 1.7% | 0.5% | 1.2% |
| ALAB | 0.4% | 0.4% | 0.1% |
| FLEX | 0.4% | 0.3% | 0.1% |
| Q | 0.2% | 0.2% | 0.0% |
| EQT | 0.2% | 0.2% | 0.0% |
| CNC | 0.2% | 0.2% | 0.0% |
| STLD | 0.2% | 0.2% | 0.0% |
| HUBB | 0.2% | 0.1% | 0.0% |
| TPL | 0.2% | 0.1% | 0.0% |
| ASTS | 0.2% | 0.1% | 0.0% |
Where VB and VIMAX 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 | VB | VIMAX | Δ |
|---|---|---|---|
| Utilities | 3.3% | 8.4% | −5.0pp |
| Health Care | 11.9% | 7.8% | +4.1pp |
| Energy | 3.7% | 7.3% | −3.6pp |
| Real Estate | 7.1% | 5.1% | +2.0pp |
| Industrials | 21.0% | 19.6% | +1.4pp |
| Consumer Staples | 3.5% | 4.9% | −1.4pp |
| Financials | 12.7% | 14.0% | −1.3pp |
| Cash and/or Derivatives | 1.7% | 0.5% | +1.2pp |
Δ is VB minus VIMAX, 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
94.0% of VB by weight, held in no part of VIMAX.
96.0% of VIMAX by weight, held in no part of VB.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VB | VIMAX | |
|---|---|---|
| Top 10 holdings | 5.6% | 9.5% |
| Positions held | 1,308 | 283 |
| Cost per $10,000 held, per year | $3 | $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 VB and VIMAX overlap?
VB and VIMAX overlap 4.0% by portfolio weight — largely distinct portfolios. They share 34 holdings. The figure comes from current issuer holdings files (VB as of 2026-06-30, VIMAX as of 2026-06-30).
How is the overlap between VB and VIMAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VB holds a stock at 6% and VIMAX 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 VB and VIMAX?
That depends on your goals — we state facts, not advice. At 4.0% overlap, each fund still contributes meaningfully distinct exposure.
What does VB own that VIMAX doesn't?
VB holds 1,308 positions and VIMAX holds 283; 1,274 of VB's positions don't appear in VIMAX at all, and they are 94.0% of VB by weight.
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Related comparisons
Sources: issuer holdings files, VB as of 2026-06-30, VIMAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.