VFMO vs VOO: 23% overlap
Vanguard U.S. Momentum Factor ETF and Vanguard S&P 500 ETF share 22.9% 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 — VFMO 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VFMO and VOO hold 131 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VFMO | in VOO | Δ |
|---|---|---|---|
| AMD | 1.0% | 1.5% | 0.5% |
| JNJ | 1.0% | 0.9% | 0.1% |
| GOOGL | 0.9% | 3.2% | 2.4% |
| AMAT | 0.9% | 0.9% | 0.0% |
| LRCX | 1.1% | 0.8% | 0.2% |
| MU | 0.8% | 2.0% | 1.2% |
| INTC | 0.8% | 1.0% | 0.3% |
| CAT | 0.8% | 0.8% | 0.0% |
| AVGO | 0.6% | 2.8% | 2.2% |
| KLAC | 1.0% | 0.6% | 0.4% |
Where VFMO 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 | VFMO | VOO | Δ |
|---|---|---|---|
| Information Technology | 17.0% | 38.0% | −21.0pp |
| Industrials | 24.4% | 8.9% | +15.5pp |
| Health Care | 22.3% | 8.9% | +13.4pp |
| Communication Services | 3.4% | 9.7% | −6.3pp |
| Financials | 6.3% | 11.6% | −5.3pp |
| Energy | 7.7% | 3.0% | +4.7pp |
| Materials | 6.2% | 1.8% | +4.4pp |
| Utilities | 0.0% | 2.2% | −2.2pp |
Δ is VFMO 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
56.5% of VFMO by weight, held in no part of VOO.
61.6% of VOO by weight, held in no part of VFMO.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VFMO | VOO | |
|---|---|---|
| Top 10 holdings | 10.2% | 36.4% |
| Positions held | 672 | 505 |
| Cost per $10,000 held, per year | $13 | $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 VFMO and VOO overlap?
VFMO and VOO overlap 22.9% by portfolio weight — moderate overlap. They share 131 holdings. The figure comes from current issuer holdings files (VFMO as of 2026-03-31, VOO as of 2026-06-30).
How is the overlap between VFMO and VOO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VFMO 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 VFMO and VOO?
That depends on your goals — we state facts, not advice. At 22.9% overlap, each fund still contributes meaningfully distinct exposure.
What does VFMO own that VOO doesn't?
VFMO holds 672 positions and VOO holds 505; 541 of VFMO's positions don't appear in VOO at all, and they are 56.5% of VFMO by weight.
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Related comparisons
Sources: issuer holdings files, VFMO as of 2026-03-31, VOO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.