VTIVX vs VUG: 25% overlap
Vanguard Target Retirement 2045 and Vanguard Growth ETF share 25.2% 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 — 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VTIVX and VUG hold 147 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTIVX | in VUG | Δ |
|---|---|---|---|
| NVDA | 3.0% | 12.6% | 9.6% |
| AAPL | 2.8% | 11.6% | 8.8% |
| MSFT | 1.8% | 7.6% | 5.8% |
| AMZN | 1.5% | 4.5% | 2.9% |
| GOOGL | 1.4% | 5.7% | 4.4% |
| AVGO | 1.2% | 4.3% | 3.1% |
| GOOG | 1.1% | 4.5% | 3.4% |
| META | 0.8% | 3.4% | 2.6% |
| TSLA | 0.8% | 3.3% | 2.5% |
| LLY | 0.7% | 2.8% | 2.1% |
Where VTIVX 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 | VTIVX | VUG | Δ |
|---|---|---|---|
| Information Technology | 23.8% | 56.0% | −32.2pp |
| Communication Services | 5.4% | 15.3% | −9.9pp |
| Financials | 13.3% | 3.9% | +9.4pp |
| Unclassified | 8.0% | 0.1% | +7.9pp |
| Treasuries | 6.2% | 0.0% | +6.2pp |
| Industrials | 9.6% | 5.0% | +4.6pp |
| Consumer Discretionary | 6.9% | 11.4% | −4.5pp |
| MBS Pass-Through | 2.6% | 0.0% | +2.6pp |
Δ is VTIVX 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
73.0% of VTIVX by weight, held in no part of VUG.
0.0% of VUG by weight, held in no part of VTIVX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTIVX | VUG | |
|---|---|---|
| Top 10 holdings | 21.4% | 60.3% |
| Positions held | 6 | 147 |
| Cost per $10,000 held, per year | $8 | $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 VTIVX and VUG overlap?
VTIVX and VUG overlap 25.2% by portfolio weight — moderate overlap. They share 147 holdings. The figure comes from current issuer holdings files (VTIVX as of 2026-03-31, VUG as of 2026-06-30).
How is the overlap between VTIVX and VUG calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTIVX 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 VTIVX and VUG?
That depends on your goals — we state facts, not advice. At 25.2% overlap, each fund still contributes meaningfully distinct exposure.
What does VTIVX own that VUG doesn't?
VTIVX holds 6 positions and VUG holds 147; 16,535 of VTIVX's positions don't appear in VUG at all, and they are 73.0% of VTIVX by weight.
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Related comparisons
Sources: issuer holdings files, VTIVX as of 2026-03-31, VUG as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.