VO vs VOOV: 28% overlap
Vanguard Mid-Cap ETF and Vanguard S&P 500 Value ETF share 27.8% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VO and VOOV hold 223 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VO | in VOOV | Δ |
|---|---|---|---|
| WDC | 1.1% | 0.8% | 0.3% |
| CASH | 0.5% | 0.5% | 0.0% |
| WMB | 0.4% | 0.3% | 0.1% |
| STX | 1.0% | 0.3% | 0.8% |
| VLO | 0.7% | 0.3% | 0.5% |
| MPC | 0.7% | 0.3% | 0.5% |
| AEP | 0.4% | 0.3% | 0.1% |
| CRH | 0.7% | 0.2% | 0.4% |
| AON | 0.3% | 0.2% | 0.1% |
| NSC | 0.3% | 0.2% | 0.1% |
Where VO and VOOV 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 | VOOV | Δ |
|---|---|---|---|
| Industrials | 19.6% | 11.4% | +8.2pp |
| Health Care | 7.8% | 12.2% | −4.4pp |
| Information Technology | 16.1% | 20.5% | −4.4pp |
| Consumer Staples | 4.9% | 8.8% | −3.9pp |
| Utilities | 8.4% | 4.4% | +3.9pp |
| Real Estate | 5.1% | 3.3% | +1.7pp |
| Consumer Discretionary | 8.9% | 10.3% | −1.4pp |
| Financials | 14.0% | 15.3% | −1.3pp |
Δ is VO minus VOOV, 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
22.4% of VO by weight, held in no part of VOOV.
72.2% of VOOV 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 | VOOV | |
|---|---|---|
| Top 10 holdings | 9.5% | 23.8% |
| Positions held | 283 | 438 |
| 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 VOOV overlap?
VO and VOOV overlap 27.8% by portfolio weight — moderate overlap. They share 223 holdings. The figure comes from current issuer holdings files (VO as of 2026-06-30, VOOV as of 2026-06-30).
How is the overlap between VO and VOOV 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 VOOV 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 VOOV?
That depends on your goals — we state facts, not advice. At 27.8% overlap, each fund still contributes meaningfully distinct exposure.
What does VO own that VOOV doesn't?
VO holds 283 positions and VOOV holds 438; 60 of VO's positions don't appear in VOOV at all, and they are 22.4% of VO by weight.
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Related comparisons
Sources: issuer holdings files, VO as of 2026-06-30, VOOV as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.