VGSLX vs VNQ: 100% overlap
Vanguard Real Estate Index Admiral and Vanguard Real Estate ETF share 100.0% 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 1.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VGSLX and VNQ hold 145 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VGSLX | in VNQ | Δ |
|---|---|---|---|
| VRTPX | 14.4% | 14.4% | 0.0% |
| WELL | 8.4% | 8.4% | 0.0% |
| PLD | 6.7% | 6.7% | 0.0% |
| EQIX | 5.5% | 5.5% | 0.0% |
| AMT | 4.0% | 4.0% | 0.0% |
| SPG | 3.9% | 3.9% | 0.0% |
| DLR | 3.3% | 3.3% | 0.0% |
| O | 3.0% | 3.0% | 0.0% |
| PSA | 2.7% | 2.7% | 0.0% |
| VTR | 2.2% | 2.2% | 0.0% |
Where VGSLX and VNQ 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 | VGSLX | VNQ | Δ |
|---|---|---|---|
| Unclassified | 14.7% | 14.7% | +0.0pp |
| Real Estate | 84.0% | 84.0% | +0.0pp |
| Cash and/or Derivatives | 0.6% | 0.6% | +0.0pp |
| Financials | 0.3% | 0.3% | +0.0pp |
| Consumer Discretionary | 0.2% | 0.2% | +0.0pp |
| Consumer Staples | 0.2% | 0.2% | +0.0pp |
| Industrials | 0.0% | 0.0% | +0.0pp |
Δ is VGSLX minus VNQ, 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 VGSLX by weight, held in no part of VNQ.
0.0% of VNQ by weight, held in no part of VGSLX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VGSLX | VNQ | |
|---|---|---|
| Top 10 holdings | 54.1% | 54.1% |
| Positions held | 145 | 145 |
| Cost per $10,000 held, per year | $13 | $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 VGSLX and VNQ overlap?
VGSLX and VNQ overlap 100.0% by portfolio weight — they are effectively the same fund. They share 145 holdings. The figure comes from current issuer holdings files (VGSLX as of 2026-06-30, VNQ as of 2026-06-30).
How is the overlap between VGSLX and VNQ calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VGSLX holds a stock at 6% and VNQ 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 VGSLX and VNQ?
That depends on your goals — we state facts, not advice. At 100.0% overlap, most of what one fund holds, the other holds too. Expense ratios: VGSLX 0.13% versus VNQ 0.13%.
What does VGSLX own that VNQ doesn't?
VGSLX holds 145 positions and VNQ holds 145; 0 of VGSLX's positions don't appear in VNQ at all, and they are 0.0% of VGSLX by weight.
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Related comparisons
Sources: issuer holdings files, VGSLX as of 2026-06-30, VNQ as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.