VTWAX vs VXUS: 39% overlap
Vanguard Total World Stock Index Admiral and Vanguard Total International Stock ETF share 39.3% 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VTWAX and VXUS hold 8,143 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTWAX | in VXUS | Δ |
|---|---|---|---|
| 2330 | 1.6% | 4.3% | 2.6% |
| CASH | 1.0% | 2.4% | 1.5% |
| 005930 | 0.9% | 2.3% | 1.4% |
| 000660 | 0.8% | 2.2% | 1.3% |
| ASML | 0.7% | 1.7% | 1.0% |
| 700 | 0.3% | 0.8% | 0.5% |
| HSBA | 0.3% | 0.7% | 0.4% |
| ROP | 0.3% | 0.6% | 0.4% |
| SAN | 0.3% | 0.7% | 0.4% |
| NOVN | 0.3% | 0.6% | 0.4% |
Where VTWAX and VXUS 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 | VTWAX | VXUS | Δ |
|---|---|---|---|
| Information Technology | 30.1% | 20.9% | +9.2pp |
| Unclassified | 3.8% | 9.1% | −5.4pp |
| Financials | 14.9% | 19.7% | −4.8pp |
| Communication Services | 7.0% | 3.3% | +3.7pp |
| Health Care | 7.7% | 5.3% | +2.4pp |
| Industrials | 11.5% | 13.8% | −2.3pp |
| Materials | 3.3% | 5.2% | −1.9pp |
| Cash and/or Derivatives | 1.0% | 2.5% | −1.5pp |
Δ is VTWAX minus VXUS, 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
58.3% of VTWAX by weight, held in no part of VXUS.
0.2% of VXUS by weight, held in no part of VTWAX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VTWAX | VXUS | |
|---|---|---|
| Top 10 holdings | 20.5% | 16.3% |
| Positions held | 9,600 | 8,453 |
| Cost per $10,000 held, per year | $9 | $5 |
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 VTWAX and VXUS overlap?
VTWAX and VXUS overlap 39.3% by portfolio weight — moderate overlap. They share 8,143 holdings. The figure comes from current issuer holdings files (VTWAX as of 2026-06-30, VXUS as of 2026-06-30).
How is the overlap between VTWAX and VXUS calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VTWAX holds a stock at 6% and VXUS 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 VTWAX and VXUS?
That depends on your goals — we state facts, not advice. At 39.3% overlap, each fund still contributes meaningfully distinct exposure.
What does VTWAX own that VXUS doesn't?
VTWAX holds 9,600 positions and VXUS holds 8,453; 1,457 of VTWAX's positions don't appear in VXUS at all, and they are 58.3% of VTWAX by weight.
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Related comparisons
Sources: issuer holdings files, VTWAX as of 2026-06-30, VXUS as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.