VTWAX vs VYM: 22% overlap
Vanguard Total World Stock Index Admiral and Vanguard High Dividend Yield ETF share 21.7% 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 1.8. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
VTWAX and VYM hold 606 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VTWAX | in VYM | Δ |
|---|---|---|---|
| AVGO | 1.5% | 7.3% | 5.8% |
| JPM | 0.7% | 3.4% | 2.7% |
| JNJ | 0.5% | 2.5% | 2.0% |
| CASH | 1.0% | 0.5% | 0.5% |
| XOM | 0.5% | 2.4% | 1.9% |
| CAT | 0.4% | 2.0% | 1.6% |
| CSCO | 0.4% | 1.9% | 1.5% |
| ABBV | 0.4% | 1.8% | 1.5% |
| UNH | 0.3% | 1.6% | 1.2% |
| BAC | 0.3% | 1.6% | 1.2% |
Where VTWAX and VYM 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 | VYM | Δ |
|---|---|---|---|
| Information Technology | 30.1% | 16.7% | +13.3pp |
| Financials | 14.9% | 20.9% | −6.1pp |
| Energy | 3.0% | 8.5% | −5.5pp |
| Health Care | 7.7% | 13.1% | −5.4pp |
| Communication Services | 7.0% | 3.1% | +3.9pp |
| Unclassified | 3.8% | 0.0% | +3.7pp |
| Consumer Staples | 4.6% | 8.0% | −3.5pp |
| Utilities | 2.5% | 5.7% | −3.2pp |
Δ is VTWAX minus VYM, 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
77.3% of VTWAX by weight, held in no part of VYM.
0.0% of VYM 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 | VYM | |
|---|---|---|
| Top 10 holdings | 20.5% | 26.0% |
| Positions held | 9,600 | 606 |
| Cost per $10,000 held, per year | $9 | $4 |
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 VYM overlap?
VTWAX and VYM overlap 21.7% by portfolio weight — moderate overlap. They share 606 holdings. The figure comes from current issuer holdings files (VTWAX as of 2026-06-30, VYM as of 2026-06-30).
How is the overlap between VTWAX and VYM 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 VYM 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 VYM?
That depends on your goals — we state facts, not advice. At 21.7% overlap, each fund still contributes meaningfully distinct exposure.
What does VTWAX own that VYM doesn't?
VTWAX holds 9,600 positions and VYM holds 606; 8,994 of VTWAX's positions don't appear in VYM at all, and they are 77.3% of VTWAX by weight.
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Related comparisons
Sources: issuer holdings files, VTWAX as of 2026-06-30, VYM as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.