VBIAX vs VWO: 2% overlap
Vanguard Balanced Index Admiral and Vanguard FTSE Emerging Markets ETF share 1.8% 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 — VBIAX 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VBIAX and VWO hold 6 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VBIAX | in VWO | Δ |
|---|---|---|---|
| CASH | 1.8% | 4.2% | 2.4% |
| TEL | 0.1% | 0.0% | 0.0% |
| VAL | 0.0% | 0.1% | 0.1% |
| HCC | 0.0% | 0.0% | 0.0% |
| ACI | 0.0% | 0.0% | 0.0% |
| PLUS | 0.0% | 0.0% | 0.0% |
Where VBIAX and VWO 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 | VWO | Δ |
|---|---|---|---|
| Unclassified | 55.1% | 9.3% | +45.8pp |
| Information Technology | 1.0% | 31.6% | −30.6pp |
| Treasuries | 19.1% | 0.0% | +19.1pp |
| Financials | 3.6% | 17.2% | −13.6pp |
| MBS Pass-Through | 8.1% | 0.0% | +8.1pp |
| Consumer Discretionary | 0.5% | 7.9% | −7.4pp |
| Corporate — industrial & other | 5.8% | 0.0% | +5.8pp |
| Materials | 0.1% | 5.7% | −5.6pp |
Δ is VBIAX minus VWO, 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
99.0% of VBIAX by weight, held in no part of VWO.
95.7% of VWO 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 | VWO | |
|---|---|---|
| Top 10 holdings | 45.2% | 30.3% |
| Positions held | 5,119 | 5,003 |
| Cost per $10,000 held, per year | $7 | $6 |
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 VWO overlap?
VBIAX and VWO overlap 1.8% by portfolio weight — largely distinct portfolios. They share 6 holdings. The figure comes from current issuer holdings files (VBIAX as of 2026-03-31, VWO as of 2026-06-30).
How is the overlap between VBIAX and VWO 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 VWO 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 VWO?
That depends on your goals — we state facts, not advice. At 1.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VBIAX own that VWO doesn't?
VBIAX holds 5,119 positions and VWO holds 5,003; 5,112 of VBIAX's positions don't appear in VWO at all, and they are 99.0% of VBIAX by weight.
You probably hold more than two funds
This page compares VBIAX and VWO. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch VBIAX vs VWO
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, VBIAX as of 2026-03-31, VWO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.