VNQ vs VTI: 3% overlap
Vanguard Real Estate ETF and Vanguard Total Stock Market ETF share 2.8% 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
VNQ and VTI hold 143 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VNQ | in VTI | Δ |
|---|---|---|---|
| CASH | 0.6% | 0.6% | 0.0% |
| WELL | 8.4% | 0.2% | 8.2% |
| PLD | 6.7% | 0.2% | 6.5% |
| EQIX | 5.5% | 0.1% | 5.3% |
| AMT | 4.0% | 0.1% | 3.9% |
| SPG | 3.9% | 0.1% | 3.8% |
| DLR | 3.3% | 0.1% | 3.2% |
| O | 3.0% | 0.1% | 3.0% |
| PSA | 2.7% | 0.1% | 2.6% |
| VTR | 2.2% | 0.1% | 2.2% |
Where VNQ and VTI 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 | VNQ | VTI | Δ |
|---|---|---|---|
| Real Estate | 84.0% | 2.2% | +81.8pp |
| Information Technology | 0.0% | 35.2% | −35.2pp |
| Unclassified | 14.7% | 0.2% | +14.5pp |
| Financials | 0.3% | 11.9% | −11.6pp |
| Industrials | 0.0% | 10.4% | −10.4pp |
| Health Care | 0.0% | 9.5% | −9.5pp |
| Communication Services | 0.0% | 9.1% | −9.1pp |
| Consumer Discretionary | 0.2% | 9.2% | −8.9pp |
Δ is VNQ minus VTI, 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
14.5% of VNQ by weight, held in no part of VTI.
97.1% of VTI by weight, held in no part of VNQ.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VNQ | VTI | |
|---|---|---|
| Top 10 holdings | 54.1% | 31.9% |
| Positions held | 145 | 3,495 |
| 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 VNQ and VTI overlap?
VNQ and VTI overlap 2.8% by portfolio weight — largely distinct portfolios. They share 143 holdings. The figure comes from current issuer holdings files (VNQ as of 2026-06-30, VTI as of 2026-06-30).
How is the overlap between VNQ and VTI calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VNQ holds a stock at 6% and VTI 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 VNQ and VTI?
That depends on your goals — we state facts, not advice. At 2.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VNQ own that VTI doesn't?
VNQ holds 145 positions and VTI holds 3,495; 2 of VNQ's positions don't appear in VTI at all, and they are 14.5% of VNQ by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, VNQ as of 2026-06-30, VTI as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.