VOO vs VYM: 35% overlap
Vanguard S&P 500 ETF and Vanguard High Dividend Yield ETF share 34.7% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VOO and VYM hold 257 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VOO | in VYM | Δ |
|---|---|---|---|
| AVGO | 2.8% | 7.3% | 4.5% |
| JPM | 1.3% | 3.4% | 2.1% |
| JNJ | 0.9% | 2.5% | 1.6% |
| XOM | 0.9% | 2.4% | 1.5% |
| CAT | 0.8% | 2.0% | 1.2% |
| CSCO | 0.7% | 1.9% | 1.2% |
| ABBV | 0.7% | 1.8% | 1.2% |
| UNH | 0.6% | 1.6% | 1.0% |
| BAC | 0.6% | 1.6% | 1.0% |
| HD | 0.5% | 1.5% | 0.9% |
Where VOO and VYM 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 | VOO | VYM | Δ |
|---|---|---|---|
| Information Technology | 38.0% | 16.7% | +21.3pp |
| Financials | 11.6% | 20.9% | −9.4pp |
| Communication Services | 9.7% | 3.1% | +6.6pp |
| Energy | 3.0% | 8.5% | −5.5pp |
| Industrials | 8.9% | 13.2% | −4.3pp |
| Health Care | 8.9% | 13.1% | −4.2pp |
| Utilities | 2.2% | 5.7% | −3.5pp |
| Consumer Staples | 4.6% | 8.0% | −3.5pp |
Δ is VOO minus VYM, 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
65.3% of VOO by weight, held in no part of VYM.
7.6% of VYM by weight, held in no part of VOO.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VOO | VYM | |
|---|---|---|
| Top 10 holdings | 36.4% | 26.0% |
| Positions held | 505 | 606 |
| Cost per $10,000 held, per year | $3 | $4 |
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 VOO and VYM overlap?
VOO and VYM overlap 34.7% by portfolio weight — moderate overlap. They share 257 holdings. The figure comes from current issuer holdings files (VOO as of 2026-06-30, VYM as of 2026-06-30).
How is the overlap between VOO and VYM calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VOO holds a stock at 6% and VYM 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 VOO and VYM?
That depends on your goals — we state facts, not advice. At 34.7% overlap, each fund still contributes meaningfully distinct exposure.
What does VOO own that VYM doesn't?
VOO holds 505 positions and VYM holds 606; 248 of VOO's positions don't appear in VYM at all, and they are 65.3% of VOO by weight.
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Related comparisons
Sources: issuer holdings files, VOO as of 2026-06-30, VYM as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.