VB vs VUG: 1% overlap
Vanguard Small-Cap ETF and Vanguard Growth ETF share 0.9% 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 VUG hold 14 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VB | in VUG | Δ |
|---|---|---|---|
| CASH | 1.7% | 0.3% | 1.4% |
| ALAB | 0.4% | 0.1% | 0.3% |
| FLEX | 0.4% | 0.1% | 0.3% |
| TPL | 0.2% | 0.1% | 0.1% |
| ASTS | 0.2% | 0.1% | 0.1% |
| INSM | 0.1% | 0.1% | 0.1% |
| FSLR | 0.1% | 0.0% | 0.1% |
| BURL | 0.1% | 0.0% | 0.1% |
| EQT | 0.2% | 0.0% | 0.2% |
| TKO | 0.1% | 0.0% | 0.0% |
Where VB and VUG 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 | VUG | Δ |
|---|---|---|---|
| Information Technology | 16.1% | 56.0% | −39.9pp |
| Industrials | 21.0% | 5.0% | +16.0pp |
| Communication Services | 3.0% | 15.3% | −12.3pp |
| Financials | 12.7% | 3.9% | +8.8pp |
| Health Care | 11.9% | 4.7% | +7.3pp |
| Real Estate | 7.1% | 1.0% | +6.2pp |
| Materials | 5.3% | 0.6% | +4.8pp |
| Energy | 3.7% | 0.3% | +3.4pp |
Δ is VB minus VUG, 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
96.3% of VB by weight, held in no part of VUG.
99.1% of VUG 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 | VUG | |
|---|---|---|
| Top 10 holdings | 5.6% | 60.3% |
| Positions held | 1,308 | 147 |
| Cost per $10,000 held, per year | $3 | $3 |
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 VUG overlap?
VB and VUG overlap 0.9% by portfolio weight — largely distinct portfolios. They share 14 holdings. The figure comes from current issuer holdings files (VB as of 2026-06-30, VUG as of 2026-06-30).
How is the overlap between VB and VUG 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 VUG 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 VUG?
That depends on your goals — we state facts, not advice. At 0.9% overlap, each fund still contributes meaningfully distinct exposure.
What does VB own that VUG doesn't?
VB holds 1,308 positions and VUG holds 147; 1,294 of VB's positions don't appear in VUG at all, and they are 96.3% of VB by weight.
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Related comparisons
Sources: issuer holdings files, VB as of 2026-06-30, VUG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.