VLXVX vs VWO: 12% overlap
Vanguard Target Retirement 2065 and Vanguard FTSE Emerging Markets ETF share 12.1% 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 — VLXVX 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VLXVX and VWO hold 5,003 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VLXVX | in VWO | Δ |
|---|---|---|---|
| CASH | 2.0% | 4.2% | 2.2% |
| 2330 | 1.6% | 15.7% | 14.1% |
| 700 | 0.3% | 2.8% | 2.5% |
| 9988 | 0.2% | 1.8% | 1.6% |
| 2454 | 0.2% | 1.6% | 1.5% |
| 2308 | 0.1% | 1.0% | 0.9% |
| 2317 | 0.1% | 0.8% | 0.7% |
| HDFCBANK | 0.1% | 0.8% | 0.7% |
| RELIANCE | 0.1% | 0.8% | 0.7% |
| 939 | 0.1% | 0.7% | 0.7% |
Where VLXVX 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 | VLXVX | VWO | Δ |
|---|---|---|---|
| Information Technology | 26.3% | 31.6% | −5.3pp |
| Industrials | 10.6% | 5.9% | +4.7pp |
| Health Care | 7.0% | 2.8% | +4.2pp |
| Treasuries | 3.3% | 0.0% | +3.3pp |
| Unclassified | 6.1% | 9.3% | −3.2pp |
| Financials | 14.1% | 17.2% | −3.1pp |
| Materials | 3.0% | 5.7% | −2.7pp |
| Cash and/or Derivatives | 2.0% | 4.2% | −2.2pp |
Δ is VLXVX 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
87.0% of VLXVX by weight, held in no part of VWO.
0.0% of VWO by weight, held in no part of VLXVX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VLXVX | VWO | |
|---|---|---|
| Top 10 holdings | 19.3% | 30.3% |
| Positions held | 6 | 5,003 |
| Cost per $10,000 held, per year | $8 | $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 VLXVX and VWO overlap?
VLXVX and VWO overlap 12.1% by portfolio weight — largely distinct portfolios. They share 5,003 holdings. The figure comes from current issuer holdings files (VLXVX as of 2026-03-31, VWO as of 2026-06-30).
How is the overlap between VLXVX and VWO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VLXVX 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 VLXVX and VWO?
That depends on your goals — we state facts, not advice. At 12.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VLXVX own that VWO doesn't?
VLXVX holds 6 positions and VWO holds 5,003; 11,933 of VLXVX's positions don't appear in VWO at all, and they are 87.0% of VLXVX by weight.
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Related comparisons
Sources: issuer holdings files, VLXVX as of 2026-03-31, VWO as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.