VTV vs VTWAX: 25% overlap
Vanguard Value ETF and Vanguard Total World Stock Index Admiral share 25.1% 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 1.7. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VTV and VTWAX hold 309 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTV | in VTWAX | Δ |
|---|---|---|---|
| MU | 4.9% | 1.1% | 3.8% |
| BRK-B | 2.9% | 0.7% | 2.2% |
| JPM | 3.1% | 0.7% | 2.4% |
| INTC | 1.1% | 0.5% | 0.5% |
| JNJ | 2.3% | 0.5% | 1.8% |
| XOM | 2.1% | 0.5% | 1.6% |
| CASH | 0.4% | 1.0% | 0.5% |
| WMT | 1.9% | 0.4% | 1.4% |
| CAT | 1.8% | 0.4% | 1.4% |
| CSCO | 1.6% | 0.4% | 1.2% |
Where VTV 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 | VTV | VTWAX | Δ |
|---|---|---|---|
| Information Technology | 14.1% | 30.1% | −16.0pp |
| Health Care | 15.1% | 7.7% | +7.4pp |
| Financials | 22.1% | 14.9% | +7.2pp |
| Consumer Discretionary | 3.9% | 8.6% | −4.7pp |
| Consumer Staples | 8.7% | 4.6% | +4.1pp |
| Communication Services | 2.9% | 7.0% | −4.1pp |
| Energy | 6.8% | 3.0% | +3.8pp |
| Industrials | 15.0% | 11.5% | +3.5pp |
Δ is VTV 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
0.0% of VTV by weight, held in no part of VTWAX.
74.2% of VTWAX by weight, held in no part of VTV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTV | VTWAX | |
|---|---|---|
| Top 10 holdings | 23.6% | 20.5% |
| Positions held | 309 | 9,600 |
| Cost per $10,000 held, per year | $3 | $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 VTV and VTWAX overlap?
VTV and VTWAX overlap 25.1% by portfolio weight — moderate overlap. They share 309 holdings. The figure comes from current issuer holdings files (VTV as of 2026-06-30, VTWAX as of 2026-06-30).
How is the overlap between VTV and VTWAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTV 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 VTV and VTWAX?
That depends on your goals — we state facts, not advice. At 25.1% overlap, each fund still contributes meaningfully distinct exposure.
What does VTV own that VTWAX doesn't?
VTV holds 309 positions and VTWAX holds 9,600; 0 of VTV's positions don't appear in VTWAX at all, and they are 0.0% of VTV by weight.
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Related comparisons
Sources: issuer holdings files, VTV as of 2026-06-30, VTWAX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.