VO vs VXF: 9% overlap
Vanguard Mid-Cap ETF and Vanguard Extended Market ETF share 8.6% 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 VXF hold 34 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VO | in VXF | Δ |
|---|---|---|---|
| BE | 0.8% | 0.9% | 0.1% |
| NET | 0.8% | 0.9% | 0.1% |
| RKLB | 0.6% | 0.6% | 0.0% |
| LNG | 0.5% | 0.6% | 0.1% |
| CASH | 0.5% | 3.8% | 3.3% |
| FERG | 0.4% | 0.5% | 0.1% |
| SNOW | 0.4% | 1.0% | 0.6% |
| ALNY | 0.4% | 0.5% | 0.1% |
| ALAB | 0.4% | 0.7% | 0.4% |
| RBLX | 0.3% | 0.4% | 0.1% |
Where VO and VXF 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 | VXF | Δ |
|---|---|---|---|
| Utilities | 8.4% | 1.9% | +6.5pp |
| Health Care | 7.8% | 13.2% | −5.4pp |
| Energy | 7.3% | 4.0% | +3.3pp |
| Cash and/or Derivatives | 0.5% | 3.8% | −3.3pp |
| Consumer Staples | 4.9% | 2.7% | +2.2pp |
| Communication Services | 2.8% | 4.5% | −1.7pp |
| Information Technology | 16.1% | 17.6% | −1.5pp |
| Unclassified | 0.4% | 1.0% | −0.6pp |
Δ is VO minus VXF, 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
91.1% of VO by weight, held in no part of VXF.
85.4% of VXF 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 | VXF | |
|---|---|---|
| Top 10 holdings | 9.5% | 10.6% |
| Positions held | 283 | 3,327 |
| Cost per $10,000 held, per year | $3 | $5 |
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 VXF overlap?
VO and VXF overlap 8.6% by portfolio weight — largely distinct portfolios. They share 34 holdings. The figure comes from current issuer holdings files (VO as of 2026-06-30, VXF as of 2026-06-30).
How is the overlap between VO and VXF 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 VXF 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 VXF?
That depends on your goals — we state facts, not advice. At 8.6% overlap, each fund still contributes meaningfully distinct exposure.
What does VO own that VXF doesn't?
VO holds 283 positions and VXF holds 3,327; 249 of VO's positions don't appear in VXF at all, and they are 91.1% of VO by weight.
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Related comparisons
Sources: issuer holdings files, VO as of 2026-06-30, VXF as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.