VWO vs VXUS: 29% overlap
Vanguard FTSE Emerging Markets ETF and Vanguard Total International Stock ETF share 28.9% 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
VWO and VXUS hold 5,003 of the same securities. The ten contributing most to the overlap figure:
| Holding | in VWO | in VXUS | Δ |
|---|---|---|---|
| 2330 | 15.7% | 4.3% | 11.5% |
| CASH | 4.2% | 2.4% | 1.7% |
| 700 | 2.8% | 0.8% | 2.1% |
| 9988 | 1.8% | 0.5% | 1.3% |
| 2454 | 1.6% | 0.4% | 1.2% |
| 2308 | 1.0% | 0.3% | 0.7% |
| 2317 | 0.8% | 0.2% | 0.6% |
| HDFCBANK | 0.8% | 0.2% | 0.6% |
| RELIANCE | 0.8% | 0.2% | 0.6% |
| 939 | 0.7% | 0.2% | 0.5% |
Where VWO 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 | VWO | VXUS | Δ |
|---|---|---|---|
| Information Technology | 31.6% | 20.9% | +10.6pp |
| Industrials | 5.9% | 13.8% | −8.0pp |
| Financials | 17.2% | 19.7% | −2.5pp |
| Health Care | 2.8% | 5.3% | −2.5pp |
| Communication Services | 5.4% | 3.3% | +2.2pp |
| Consumer Staples | 2.9% | 4.9% | −2.0pp |
| Cash and/or Derivatives | 4.2% | 2.5% | +1.7pp |
| Utilities | 2.1% | 3.0% | −0.8pp |
Δ is VWO 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
0.0% of VWO by weight, held in no part of VXUS.
69.0% of VXUS by weight, held in no part of VWO.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| VWO | VXUS | |
|---|---|---|
| Top 10 holdings | 30.3% | 16.3% |
| Positions held | 5,003 | 8,453 |
| Cost per $10,000 held, per year | $6 | $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 VWO and VXUS overlap?
VWO and VXUS overlap 28.9% by portfolio weight — moderate overlap. They share 5,003 holdings. The figure comes from current issuer holdings files (VWO as of 2026-06-30, VXUS as of 2026-06-30).
How is the overlap between VWO and VXUS calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If VWO 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 VWO and VXUS?
That depends on your goals — we state facts, not advice. At 28.9% overlap, each fund still contributes meaningfully distinct exposure.
What does VWO own that VXUS doesn't?
VWO holds 5,003 positions and VXUS holds 8,453; 0 of VWO's positions don't appear in VXUS at all, and they are 0.0% of VWO by weight.
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Related comparisons
Sources: issuer holdings files, VWO as of 2026-06-30, VXUS as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.