VIMAX vs VWO: 1% overlap
Vanguard Mid-Cap Index Admiral and Vanguard FTSE Emerging Markets ETF share 0.6% 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
VIMAX and VWO hold 8 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VIMAX | in VWO | Δ |
|---|---|---|---|
| CASH | 0.5% | 4.2% | 3.7% |
| HAL | 0.2% | 0.1% | 0.2% |
| TEL | 0.6% | 0.0% | 0.6% |
| EL | 0.2% | 0.0% | 0.2% |
| CCL | 0.3% | 0.0% | 0.3% |
| LULU | 0.1% | 0.0% | 0.1% |
| SRE | 0.6% | 0.0% | 0.6% |
| SPG | 0.7% | 0.0% | 0.7% |
Where VIMAX 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 | VIMAX | VWO | Δ |
|---|---|---|---|
| Information Technology | 16.1% | 31.6% | −15.5pp |
| Industrials | 19.6% | 5.9% | +13.7pp |
| Unclassified | 0.4% | 9.3% | −8.9pp |
| Utilities | 8.4% | 2.1% | +6.2pp |
| Health Care | 7.8% | 2.8% | +5.0pp |
| Energy | 7.3% | 3.3% | +4.0pp |
| Cash and/or Derivatives | 0.5% | 4.2% | −3.7pp |
| Real Estate | 5.1% | 1.6% | +3.5pp |
Δ is VIMAX 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
96.9% of VIMAX by weight, held in no part of VWO.
95.7% of VWO by weight, held in no part of VIMAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VIMAX | VWO | |
|---|---|---|
| Top 10 holdings | 9.5% | 30.3% |
| Positions held | 283 | 5,003 |
| Cost per $10,000 held, per year | $5 | $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 VIMAX and VWO overlap?
VIMAX and VWO overlap 0.6% by portfolio weight — largely distinct portfolios. They share 8 holdings. The figure comes from current issuer holdings files (VIMAX as of 2026-06-30, VWO as of 2026-06-30).
How is the overlap between VIMAX and VWO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VIMAX 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 VIMAX and VWO?
That depends on your goals — we state facts, not advice. At 0.6% overlap, each fund still contributes meaningfully distinct exposure.
What does VIMAX own that VWO doesn't?
VIMAX holds 283 positions and VWO holds 5,003; 275 of VIMAX's positions don't appear in VWO at all, and they are 96.9% of VIMAX by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, VIMAX as of 2026-06-30, VWO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.