VNQ vs VTV: 3% overlap
Vanguard Real Estate ETF and Vanguard Value ETF share 3.0% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VNQ and VTV hold 15 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VNQ | in VTV | Δ |
|---|---|---|---|
| PLD | 6.7% | 0.5% | 6.2% |
| CASH | 0.6% | 0.4% | 0.2% |
| AMT | 4.0% | 0.3% | 3.8% |
| SPG | 3.9% | 0.3% | 3.6% |
| DLR | 3.3% | 0.2% | 3.0% |
| PSA | 2.7% | 0.2% | 2.5% |
| VTR | 2.2% | 0.2% | 2.1% |
| CBRE | 2.1% | 0.1% | 2.0% |
| IRM | 2.0% | 0.1% | 1.9% |
| CCI | 1.8% | 0.1% | 1.6% |
Where VNQ and VTV 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 | VTV | Δ |
|---|---|---|---|
| Real Estate | 84.0% | 2.5% | +81.5pp |
| Financials | 0.3% | 22.1% | −21.8pp |
| Health Care | 0.0% | 15.1% | −15.1pp |
| Industrials | 0.0% | 15.0% | −14.9pp |
| Unclassified | 14.7% | 0.5% | +14.2pp |
| Information Technology | 0.0% | 14.1% | −14.1pp |
| Consumer Staples | 0.2% | 8.7% | −8.6pp |
| Energy | 0.0% | 6.8% | −6.8pp |
Δ is VNQ minus VTV, 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
62.0% of VNQ by weight, held in no part of VTV.
97.0% of VTV 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 | VTV | |
|---|---|---|
| Top 10 holdings | 54.1% | 23.6% |
| Positions held | 145 | 309 |
| 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 VTV overlap?
VNQ and VTV overlap 3.0% by portfolio weight — largely distinct portfolios. They share 15 holdings. The figure comes from current issuer holdings files (VNQ as of 2026-06-30, VTV as of 2026-06-30).
How is the overlap between VNQ and VTV 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 VTV 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 VTV?
That depends on your goals — we state facts, not advice. At 3.0% overlap, each fund still contributes meaningfully distinct exposure.
What does VNQ own that VTV doesn't?
VNQ holds 145 positions and VTV holds 309; 130 of VNQ's positions don't appear in VTV at all, and they are 62.0% 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, VTV as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.