VO vs VOOG: 8% overlap
Vanguard Mid-Cap ETF and Vanguard S&P 500 Growth ETF share 7.7% 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VO and VOOG hold 64 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VO | in VOOG | Δ |
|---|---|---|---|
| STX | 1.0% | 0.4% | 0.7% |
| VRT | 1.2% | 0.4% | 0.9% |
| PWR | 1.0% | 0.3% | 0.7% |
| HWM | 1.0% | 0.3% | 0.7% |
| NEM | 0.5% | 0.3% | 0.2% |
| DDOG | 0.8% | 0.2% | 0.6% |
| HOOD | 0.8% | 0.2% | 0.5% |
| RCL | 0.7% | 0.2% | 0.5% |
| COHR | 0.7% | 0.2% | 0.5% |
| HLT | 0.4% | 0.2% | 0.2% |
Where VO and VOOG 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 | VO | VOOG | Δ |
|---|---|---|---|
| Information Technology | 16.1% | 52.2% | −36.1pp |
| Industrials | 19.6% | 6.9% | +12.7pp |
| Communication Services | 2.8% | 15.2% | −12.4pp |
| Utilities | 8.4% | 0.4% | +8.0pp |
| Energy | 7.3% | 0.0% | +7.3pp |
| Financials | 14.0% | 8.5% | +5.5pp |
| Real Estate | 5.1% | 0.6% | +4.5pp |
| Materials | 4.3% | 0.3% | +4.1pp |
Δ is VO minus VOOG, 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
69.9% of VO by weight, held in no part of VOOG.
92.3% of VOOG by weight, held in no part of VO.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VO | VOOG | |
|---|---|---|
| Top 10 holdings | 9.5% | 56.4% |
| Positions held | 283 | 148 |
| Cost per $10,000 held, per year | $3 | $7 |
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 VO and VOOG overlap?
VO and VOOG overlap 7.7% by portfolio weight — largely distinct portfolios. They share 64 holdings. The figure comes from current issuer holdings files (VO as of 2026-06-30, VOOG as of 2026-06-30).
How is the overlap between VO and VOOG calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VO holds a stock at 6% and VOOG 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 VO and VOOG?
That depends on your goals — we state facts, not advice. At 7.7% overlap, each fund still contributes meaningfully distinct exposure.
What does VO own that VOOG doesn't?
VO holds 283 positions and VOOG holds 148; 219 of VO's positions don't appear in VOOG at all, and they are 69.9% of VO by weight.
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Related comparisons
Sources: issuer holdings files, VO as of 2026-06-30, VOOG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.