VGSH vs VTIP: 64% overlap
Vanguard Short-Term Treasury ETF and Vanguard Short-Term Inflation-Protected Securities ETF share 64.0% 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 1.4. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VGSH and VTIP hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VGSH | in VTIP | Δ |
|---|---|---|---|
| UST-0-3Y | 97.5% | 61.5% | 36.0% |
| UST-3-10Y | 2.1% | 37.8% | 35.7% |
| CASH | 0.4% | 0.7% | 0.3% |
Where VGSH and VTIP 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 | VGSH | VTIP | Δ |
|---|---|---|---|
| Treasuries | 99.6% | 99.3% | +0.3pp |
| Cash and/or Derivatives | 0.4% | 0.7% | −0.3pp |
Δ is VGSH minus VTIP, 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
0.0% of VGSH by weight, held in no part of VTIP.
0.0% of VTIP by weight, held in no part of VGSH.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VGSH | VTIP | |
|---|---|---|
| Top 10 holdings | 100.0% | 100.0% |
| Positions held | 3 | 3 |
| 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 VGSH and VTIP overlap?
VGSH and VTIP overlap 64.0% by portfolio weight — substantial duplication if you hold both. They share 3 holdings. The figure comes from current issuer holdings files (VGSH as of 2026-06-30, VTIP as of 2026-06-30).
How is the overlap between VGSH and VTIP calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VGSH holds a stock at 6% and VTIP 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 VGSH and VTIP?
That depends on your goals — we state facts, not advice. At 64.0% overlap, each fund still contributes meaningfully distinct exposure.
What does VGSH own that VTIP doesn't?
VGSH holds 3 positions and VTIP holds 3; 0 of VGSH's positions don't appear in VTIP at all, and they are 0.0% of VGSH by weight.
You probably hold more than two funds
This page compares VGSH and VTIP. 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.
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Related comparisons
Sources: issuer holdings files, VGSH as of 2026-06-30, VTIP as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.