VB vs VLXVX: 9% overlap
Vanguard Small-Cap ETF and Vanguard Target Retirement 2065 share 8.8% 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 — VLXVX 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
VB and VLXVX hold 1,307 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VB | in VLXVX | Δ |
|---|---|---|---|
| CASH | 1.7% | 2.0% | 0.3% |
| CFR | 0.1% | 0.1% | 0.0% |
| AIR | 0.1% | 0.1% | 0.0% |
| MC | 0.1% | 0.1% | 0.1% |
| ALAB | 0.4% | 0.1% | 0.4% |
| AAL | 0.1% | 0.1% | 0.1% |
| CNR | 0.0% | 0.1% | 0.0% |
| TSCO | 0.1% | 0.0% | 0.1% |
| FLEX | 0.4% | 0.0% | 0.3% |
| CSL | 0.2% | 0.0% | 0.1% |
Where VB and VLXVX 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 | VLXVX | Δ |
|---|---|---|---|
| Industrials | 21.0% | 10.6% | +10.4pp |
| Information Technology | 16.1% | 26.3% | −10.2pp |
| Unclassified | 0.6% | 6.1% | −5.5pp |
| Real Estate | 7.1% | 1.9% | +5.2pp |
| Health Care | 11.9% | 7.0% | +4.9pp |
| Treasuries | 0.0% | 3.3% | −3.3pp |
| Communication Services | 3.0% | 6.0% | −3.0pp |
| Consumer Discretionary | 9.9% | 7.6% | +2.3pp |
Δ is VB minus VLXVX, 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
0.0% of VB by weight, held in no part of VLXVX.
90.6% of VLXVX 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 | VLXVX | |
|---|---|---|
| Top 10 holdings | 5.6% | 19.3% |
| Positions held | 1,308 | 6 |
| Cost per $10,000 held, per year | $3 | $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 VB and VLXVX overlap?
VB and VLXVX overlap 8.8% by portfolio weight — largely distinct portfolios. They share 1,307 holdings. The figure comes from current issuer holdings files (VB as of 2026-06-30, VLXVX as of 2026-03-31).
How is the overlap between VB and VLXVX 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 VLXVX 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 VLXVX?
That depends on your goals — we state facts, not advice. At 8.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VB own that VLXVX doesn't?
VB holds 1,308 positions and VLXVX holds 6; 1 of VB's positions don't appear in VLXVX at all, and they are 0.0% of VB by weight.
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Related comparisons
Sources: issuer holdings files, VB as of 2026-06-30, VLXVX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.