VBIAX vs VFMO: 3% overlap
Vanguard Balanced Index Admiral and Vanguard U.S. Momentum Factor ETF share 3.1% 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
VBIAX and VFMO hold 81 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VBIAX | in VFMO | Δ |
|---|---|---|---|
| CASH | 1.8% | 1.4% | 0.4% |
| LLY | 0.7% | 0.5% | 0.3% |
| APH | 0.1% | 0.9% | 0.7% |
| MCK | 0.1% | 0.2% | 0.1% |
| WDC | 0.1% | 0.2% | 0.2% |
| GD | 0.1% | 0.5% | 0.4% |
| VLO | 0.1% | 0.2% | 0.1% |
| GM | 0.1% | 0.8% | 0.8% |
| LHX | 0.1% | 0.2% | 0.2% |
| NUE | 0.0% | 0.1% | 0.1% |
Where VBIAX and VFMO 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 | VBIAX | VFMO | Δ |
|---|---|---|---|
| Unclassified | 55.1% | 0.9% | +54.3pp |
| Industrials | 0.7% | 24.4% | −23.7pp |
| Health Care | 1.2% | 22.3% | −21.1pp |
| Treasuries | 19.1% | 0.0% | +19.1pp |
| Information Technology | 1.0% | 17.0% | −16.0pp |
| MBS Pass-Through | 8.1% | 0.0% | +8.1pp |
| Energy | 0.1% | 7.7% | −7.6pp |
| Consumer Discretionary | 0.5% | 7.8% | −7.3pp |
Δ is VBIAX minus VFMO, 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
97.1% of VBIAX by weight, held in no part of VFMO.
86.4% of VFMO by weight, held in no part of VBIAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VBIAX | VFMO | |
|---|---|---|
| Top 10 holdings | 45.2% | 10.2% |
| Positions held | 5,119 | 672 |
| Cost per $10,000 held, per year | $7 | $13 |
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 VBIAX and VFMO overlap?
VBIAX and VFMO overlap 3.1% by portfolio weight — largely distinct portfolios. They share 81 holdings. The figure comes from current issuer holdings files (VBIAX as of 2026-03-31, VFMO as of 2026-03-31).
How is the overlap between VBIAX and VFMO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VBIAX holds a stock at 6% and VFMO 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 VBIAX and VFMO?
That depends on your goals — we state facts, not advice. At 3.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VBIAX own that VFMO doesn't?
VBIAX holds 5,119 positions and VFMO holds 672; 5,037 of VBIAX's positions don't appear in VFMO at all, and they are 97.1% of VBIAX by weight.
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Related comparisons
Sources: issuer holdings files, VBIAX as of 2026-03-31, VFMO as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.