VO vs VUG: 12% overlap
Vanguard Mid-Cap ETF and Vanguard Growth ETF share 12.2% 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 VUG hold 88 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VO | in VUG | Δ |
|---|---|---|---|
| WDC | 1.1% | 0.6% | 0.4% |
| STX | 1.0% | 0.6% | 0.4% |
| VRT | 1.2% | 0.4% | 0.8% |
| PWR | 1.0% | 0.3% | 0.7% |
| HWM | 1.0% | 0.3% | 0.7% |
| FTNT | 0.5% | 0.3% | 0.2% |
| CASH | 0.5% | 0.3% | 0.2% |
| DDOG | 0.8% | 0.3% | 0.6% |
| SNOW | 0.4% | 0.2% | 0.2% |
| BE | 0.8% | 0.2% | 0.5% |
Where VO and VUG 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 | VUG | Δ |
|---|---|---|---|
| Information Technology | 16.1% | 56.0% | −39.9pp |
| Industrials | 19.6% | 5.0% | +14.6pp |
| Communication Services | 2.8% | 15.3% | −12.6pp |
| Financials | 14.0% | 3.9% | +10.1pp |
| Utilities | 8.4% | 0.0% | +8.4pp |
| Energy | 7.3% | 0.3% | +7.0pp |
| Real Estate | 5.1% | 1.0% | +4.1pp |
| Materials | 4.3% | 0.6% | +3.8pp |
Δ is VO minus VUG, 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
65.2% of VO by weight, held in no part of VUG.
87.8% of VUG 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 | VUG | |
|---|---|---|
| Top 10 holdings | 9.5% | 60.3% |
| Positions held | 283 | 147 |
| Cost per $10,000 held, per year | $3 | $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 VO and VUG overlap?
VO and VUG overlap 12.2% by portfolio weight — largely distinct portfolios. They share 88 holdings. The figure comes from current issuer holdings files (VO as of 2026-06-30, VUG as of 2026-06-30).
How is the overlap between VO and VUG 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 VUG 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 VUG?
That depends on your goals — we state facts, not advice. At 12.2% overlap, each fund still contributes meaningfully distinct exposure.
What does VO own that VUG doesn't?
VO holds 283 positions and VUG holds 147; 195 of VO's positions don't appear in VUG at all, and they are 65.2% of VO by weight.
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Related comparisons
Sources: issuer holdings files, VO as of 2026-06-30, VUG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.