VEA vs VOO: 1% overlap
Vanguard FTSE Developed Markets ETF and Vanguard S&P 500 ETF share 1.1% 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
VEA and VOO hold 52 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VEA | in VOO | Δ |
|---|---|---|---|
| CASH | 1.4% | 0.2% | 1.1% |
| ALL | 0.1% | 0.1% | 0.0% |
| MRK | 0.1% | 0.5% | 0.4% |
| PRU | 0.1% | 0.1% | 0.1% |
| HBAN | 0.1% | 0.1% | 0.0% |
| ROP | 0.9% | 0.1% | 0.8% |
| DTE | 0.3% | 0.0% | 0.2% |
| EQT | 0.0% | 0.1% | 0.0% |
| PPL | 0.1% | 0.0% | 0.0% |
| DG | 0.2% | 0.0% | 0.2% |
Where VEA and VOO 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 | VEA | VOO | Δ |
|---|---|---|---|
| Information Technology | 17.1% | 38.0% | −20.9pp |
| Financials | 20.7% | 11.6% | +9.1pp |
| Unclassified | 8.9% | 0.0% | +8.9pp |
| Industrials | 16.9% | 8.9% | +7.9pp |
| Communication Services | 2.5% | 9.7% | −7.2pp |
| Materials | 5.1% | 1.8% | +3.2pp |
| Health Care | 6.2% | 8.9% | −2.7pp |
| Consumer Discretionary | 7.3% | 9.3% | −2.0pp |
Δ is VEA minus VOO, 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
96.1% of VEA by weight, held in no part of VOO.
95.4% of VOO by weight, held in no part of VEA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VEA | VOO | |
|---|---|---|
| Top 10 holdings | 15.2% | 36.4% |
| Positions held | 3,792 | 505 |
| 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 VEA and VOO overlap?
VEA and VOO overlap 1.1% by portfolio weight — largely distinct portfolios. They share 52 holdings. The figure comes from current issuer holdings files (VEA as of 2026-06-30, VOO as of 2026-06-30).
How is the overlap between VEA and VOO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VEA holds a stock at 6% and VOO 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 VEA and VOO?
That depends on your goals — we state facts, not advice. At 1.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VEA own that VOO doesn't?
VEA holds 3,792 positions and VOO holds 505; 3,740 of VEA's positions don't appear in VOO at all, and they are 96.1% of VEA by weight.
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Related comparisons
Sources: issuer holdings files, VEA as of 2026-06-30, VOO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.