IVV vs VIG: how much do they really overlap?
IVV (iShares Core S&P 500 ETF, tracking the S&P 500) and VIG (Vanguard Dividend Appreciation ETF, tracking the S&P US Dividend Growers) overlap by roughly 42% by weight. 4 of IVV's top 10 holdings also appear in VIG. A 50/50 blend of the two behaves like about 72 equally-weighted bets (diversification grade A). In short, the two funds share a meaningful core of the same megacaps, but each also brings real exposure the other lacks.
The same companies, in both funds
These 27 holdings appear in both IVV and VIG. The weight columns show how much of each fund each name represents.
| Holding | in IVV | in VIG |
|---|---|---|
| AAPL APPLE INC | 7.64% | 4.20% |
| MSFT MICROSOFT CORP | 5.23% | 3.51% |
| AVGO BROADCOM INC | 2.87% | 4.53% |
| JPM JPMORGAN CHASE & CO | 1.47% | 3.56% |
| LLY ELI LILLY | 1.43% | 4.14% |
| JNJ JOHNSON & JOHNSON | 0.96% | 2.66% |
| V VISA INC CLASS A | 0.95% | 2.31% |
| WMT WALMART INC | 0.76% | 2.16% |
| MA MASTERCARD INC CLASS A | 0.73% | 1.81% |
| ABBV ABBVIE INC | 0.71% | 1.94% |
| CSCO CISCO SYSTEMS INC | 0.70% | 2.02% |
| COST COSTCO WHOLESALE CORP | 0.66% | 1.81% |
| BAC BANK OF AMERICA CORP | 0.63% | 1.62% |
| UNH UNITEDHEALTH GROUP INC | 0.60% | 1.65% |
| CAT CATERPILLAR INC | 0.58% | 2.14% |
+ 12 more shared holdings.
Only in IVV
iShares Core S&P 500 ETF — US large-cap. Its biggest holdings that VIG doesn’t have:
| NVDA NVIDIA CORP | 7.37% |
| AMZN AMAZON.COM INC | 3.60% |
| GOOGL ALPHABET INC CLASS A | 3.05% |
| GOOG ALPHABET INC CLASS C | 2.46% |
| META META PLATFORMS INC CLASS A | 1.85% |
| MU MICRON TECHNOLOGY INC | 1.54% |
| BRKB BERKSHIRE HATHAWAY INC CLASS B | 1.46% |
| TSLA TESLA INC | 1.36% |
Only in VIG
Vanguard Dividend Appreciation ETF — US dividend-growth. Its biggest holdings that IVV doesn’t have:
| IBM International Business Machines Corp. | 1.15% |
| APH Amphenol Corp. Class A | 0.95% |
| QCOM QUALCOMM Inc. | 0.85% |
| ADI Analog Devices Inc. | 0.85% |
| MCD McDonald's Corp. | 0.84% |
| PEP PepsiCo Inc. | 0.81% |
| NEE NextEra Energy Inc. | 0.80% |
| ETN Eaton Corp. plc | 0.72% |
So — partly overlapping. Should you hold both?
IVV and VIG share a meaningful core of the same megacaps, but each also brings real exposure the other lacks. Held together they keep a shared megacap core but each still pulls in exposure the other lacks, so a 50/50 blend spreads to ~72 effective positions (grade A).
Holdings as of — IVV: Jul 30, 2026 (iShares (BlackRock)); VIG: Jun 30, 2026 (Vanguard). Refreshed monthly. Overlap is measured across each fund’s largest holdings (top 50); the diffuse long tail barely moves the math.
See this for YOUR whole portfolio, free →IVV vs VIG — FAQ
- How much do IVV and VIG overlap?
- IVV and VIG overlap by approximately 42% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of IVV's 10 largest holdings are also held by VIG. They share 27 of their listed top holdings in total.
- Is it redundant to hold both IVV and VIG?
- Because they share a meaningful core of the same megacaps, but each also brings real exposure the other lacks, holding both is partly redundant: you double up on a shared core (AAPL) while each fund still adds distinct exposure. A 50/50 blend has an effective 72 positions and a A diversification grade.
- What does VIG hold that IVV doesn't?
- VIG's largest holdings that IVV doesn't hold include IBM, APH, QCOM, ADI, MCD. Its category is US dividend-growth, versus IVV's US large-cap.
- Which is more concentrated, IVV or VIG?
- IVV's top 10 holdings are 59% of its listed weight; VIG's are 44%. The more concentrated fund leans harder on its largest names.