VONG vs VTWAX: 35% overlap
Vanguard Russell 1000 Growth ETF and Vanguard Total World Stock Index Admiral share 35.5% 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VONG and VTWAX hold 361 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VONG | in VTWAX | Δ |
|---|---|---|---|
| NVDA | 13.8% | 4.0% | 9.8% |
| AAPL | 6.7% | 3.6% | 3.1% |
| MSFT | 4.1% | 2.4% | 1.7% |
| GOOGL | 6.2% | 1.8% | 4.4% |
| AVGO | 5.2% | 1.5% | 3.7% |
| GOOG | 5.0% | 1.4% | 3.6% |
| MU | 3.9% | 1.1% | 2.7% |
| META | 3.0% | 1.1% | 1.9% |
| TSLA | 3.6% | 1.1% | 2.6% |
| LLY | 2.8% | 0.8% | 2.0% |
Where VONG and VTWAX 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 | VONG | VTWAX | Δ |
|---|---|---|---|
| Information Technology | 54.3% | 30.1% | +24.2pp |
| Financials | 4.3% | 14.9% | −10.6pp |
| Communication Services | 16.1% | 7.0% | +9.1pp |
| Unclassified | 0.0% | 3.8% | −3.8pp |
| Consumer Staples | 1.3% | 4.6% | −3.3pp |
| Materials | 0.3% | 3.3% | −3.0pp |
| Industrials | 8.8% | 11.5% | −2.6pp |
| Energy | 0.4% | 3.0% | −2.6pp |
Δ is VONG minus VTWAX, 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
0.1% of VONG by weight, held in no part of VTWAX.
59.5% of VTWAX by weight, held in no part of VONG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VONG | VTWAX | |
|---|---|---|
| Top 10 holdings | 54.3% | 20.5% |
| Positions held | 370 | 9,600 |
| Cost per $10,000 held, per year | $6 | $9 |
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 VONG and VTWAX overlap?
VONG and VTWAX overlap 35.5% by portfolio weight — moderate overlap. They share 361 holdings. The figure comes from current issuer holdings files (VONG as of 2026-06-30, VTWAX as of 2026-06-30).
How is the overlap between VONG and VTWAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VONG holds a stock at 6% and VTWAX 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 VONG and VTWAX?
That depends on your goals — we state facts, not advice. At 35.5% overlap, each fund still contributes meaningfully distinct exposure.
What does VONG own that VTWAX doesn't?
VONG holds 370 positions and VTWAX holds 9,600; 9 of VONG's positions don't appear in VTWAX at all, and they are 0.1% of VONG by weight.
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Related comparisons
Sources: issuer holdings files, VONG as of 2026-06-30, VTWAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.