VTHRX vs VTIVX: 78% overlap
Vanguard Target Retirement 2030 and Vanguard Target Retirement 2045 share 78.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 3 months apart — VTHRX, VTIVX as of 2026-03-31, the rest through 2026-06-30. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 1.2. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VTHRX and VTIVX hold 16,682 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTHRX | in VTIVX | Δ |
|---|---|---|---|
| UST-3-10Y | 6.0% | 2.7% | 3.3% |
| AGENCY-MBS | 5.7% | 2.6% | 3.1% |
| NVDA | 2.2% | 3.0% | 0.8% |
| UST-0-3Y | 4.7% | 2.1% | 2.6% |
| AAPL | 2.0% | 2.8% | 0.8% |
| CASH | 1.9% | 1.9% | 0.0% |
| MSFT | 1.3% | 1.8% | 0.5% |
| UST-10Y+ | 2.9% | 1.3% | 1.6% |
| AMZN | 1.1% | 1.5% | 0.4% |
| 2330 | 1.0% | 1.4% | 0.4% |
Where VTHRX and VTIVX 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 | VTHRX | VTIVX | Δ |
|---|---|---|---|
| Treasuries | 13.6% | 6.2% | +7.4pp |
| Information Technology | 17.3% | 23.8% | −6.5pp |
| Unclassified | 13.3% | 8.0% | +5.3pp |
| MBS Pass-Through | 5.7% | 2.6% | +3.1pp |
| Industrials | 6.9% | 9.6% | −2.6pp |
| Corporate — industrial & other | 4.4% | 2.0% | +2.4pp |
| Financials | 11.3% | 13.3% | −2.0pp |
| Consumer Discretionary | 5.0% | 6.9% | −1.9pp |
Δ is VTHRX minus VTIVX, 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
0.4% of VTHRX by weight, held in no part of VTIVX.
0.0% of VTIVX by weight, held in no part of VTHRX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTHRX | VTIVX | |
|---|---|---|
| Top 10 holdings | 28.9% | 21.4% |
| Positions held | 7 | 6 |
| Cost per $10,000 held, per year | $8 | $8 |
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 VTHRX and VTIVX overlap?
VTHRX and VTIVX overlap 78.1% by portfolio weight — substantial duplication if you hold both. They share 16,682 holdings. The figure comes from current issuer holdings files (VTHRX as of 2026-03-31, VTIVX as of 2026-03-31).
How is the overlap between VTHRX and VTIVX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTHRX holds a stock at 6% and VTIVX 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 VTHRX and VTIVX?
That depends on your goals — we state facts, not advice. At 78.1% overlap, most of what one fund holds, the other holds too. Expense ratios: VTHRX 0.08% versus VTIVX 0.08%.
What does VTHRX own that VTIVX doesn't?
VTHRX holds 7 positions and VTIVX holds 6; 1 of VTHRX's positions don't appear in VTIVX at all, and they are 0.4% of VTHRX by weight.
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Related comparisons
Sources: issuer holdings files, VTHRX as of 2026-03-31, VTIVX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.