VTSAX vs XLV: 8% overlap
Vanguard Total Stock Market Index Admiral and Health Care Select Sector SPDR Fund share 8.1% 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
VTSAX and XLV hold 60 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTSAX | in XLV | Δ |
|---|---|---|---|
| LLY | 1.4% | 16.1% | 14.7% |
| JNJ | 0.8% | 10.7% | 9.9% |
| ABBV | 0.6% | 7.8% | 7.2% |
| UNH | 0.5% | 6.6% | 6.1% |
| MRK | 0.4% | 5.5% | 5.1% |
| AMGN | 0.3% | 3.4% | 3.2% |
| TMO | 0.3% | 3.6% | 3.4% |
| ABT | 0.2% | 3.0% | 2.8% |
| GILD | 0.2% | 2.8% | 2.6% |
| ISRG | 0.2% | 2.0% | 1.8% |
Where VTSAX and XLV 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 | VTSAX | XLV | Δ |
|---|---|---|---|
| Health Care | 9.5% | 99.7% | −90.2pp |
| Information Technology | 35.2% | 0.0% | +35.2pp |
| Financials | 11.9% | 0.0% | +11.9pp |
| Industrials | 10.4% | 0.0% | +10.4pp |
| Consumer Discretionary | 9.2% | 0.0% | +9.2pp |
| Communication Services | 9.1% | 0.0% | +9.1pp |
| Consumer Staples | 4.3% | 0.0% | +4.3pp |
| Energy | 3.1% | 0.0% | +3.1pp |
Δ is VTSAX minus XLV, 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
91.4% of VTSAX by weight, held in no part of XLV.
0.0% of XLV by weight, held in no part of VTSAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTSAX | XLV | |
|---|---|---|
| Top 10 holdings | 31.9% | 62.0% |
| Positions held | 3,495 | 62 |
| Cost per $10,000 held, per year | $4 | $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 VTSAX and XLV overlap?
VTSAX and XLV overlap 8.1% by portfolio weight — largely distinct portfolios. They share 60 holdings. The figure comes from current issuer holdings files (VTSAX as of 2026-06-30, XLV as of 2026-07-23).
How is the overlap between VTSAX and XLV calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTSAX holds a stock at 6% and XLV 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 VTSAX and XLV?
That depends on your goals — we state facts, not advice. At 8.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VTSAX own that XLV doesn't?
VTSAX holds 3,495 positions and XLV holds 62; 3,435 of VTSAX's positions don't appear in XLV at all, and they are 91.4% of VTSAX by weight.
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Related comparisons
Sources: issuer holdings files, VTSAX as of 2026-06-30, XLV as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.