SOXX vs VNQ: how much do they really overlap?
SOXX (iShares Semiconductor ETF, tracking the NYSE Semiconductor) and VNQ (Vanguard Real Estate ETF, tracking the MSCI US IMI Real Estate 25/50) overlap by roughly 0% by weight. 0 of SOXX's top 10 holdings also appear in VNQ. A 50/50 blend of the two behaves like about 42 equally-weighted bets (diversification grade B). In short, the two funds hold almost none of the same securities — they are complementary, not redundant.
The same companies, in both funds
These 0 holdings appear in both SOXX and VNQ. The weight columns show how much of each fund each name represents.
| Holding | in SOXX | in VNQ |
|---|
Only in SOXX
iShares Semiconductor ETF — semiconductors. Its biggest holdings that VNQ doesn’t have:
| MU MICRON TECHNOLOGY INC | 8.54% |
| AMD ADVANCED MICRO DEVICES INC | 8.09% |
| NVDA NVIDIA CORP | 6.81% |
| INTC INTEL CORPORATION | 6.33% |
| AVGO BROADCOM INC | 6.08% |
| AMAT APPLIED MATERIAL INC | 5.77% |
| KLAC KLA CORP | 5.64% |
| LRCX LAM RESEARCH CORP | 4.89% |
Only in VNQ
Vanguard Real Estate ETF — US real estate. Its biggest holdings that SOXX doesn’t have:
| VRTPX Vanguard Real Estate II Index Fund Institutional Plus Shares | 14.54% |
| WELL Welltower Inc. | 7.68% |
| PLD Prologis Inc. | 7.17% |
| EQIX Equinix Inc. | 5.65% |
| AMT American Tower Corp. | 4.67% |
| SPG Simon Property Group Inc. | 3.57% |
| DLR Digital Realty Trust Inc. | 3.50% |
| O Realty Income Corp. | 3.04% |
So — essentially different. Should you hold both?
SOXX and VNQ hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~42 effective positions (grade B), because they hold largely different securities.
Holdings as of — SOXX: Jun 30, 2026 (iShares (BlackRock)); VNQ: May 31, 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 →SOXX vs VNQ — FAQ
- How much do SOXX and VNQ overlap?
- SOXX and VNQ overlap by approximately 0% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 0 of SOXX's 10 largest holdings are also held by VNQ. They share 0 of their listed top holdings in total.
- Is it redundant to hold both SOXX and VNQ?
- Because they hold almost none of the same securities — they are complementary, not redundant, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 42 positions and a B diversification grade.
- What does VNQ hold that SOXX doesn't?
- VNQ's largest holdings that SOXX doesn't hold include VRTPX, WELL, PLD, EQIX, AMT. Its category is US real estate, versus SOXX's semiconductors.
- Which is more concentrated, SOXX or VNQ?
- SOXX's top 10 holdings are 61% of its listed weight; VNQ's are 62%. The more concentrated fund leans harder on its largest names.