VB vs VBR: how much do they really overlap?
VB (Vanguard Small-Cap ETF, tracking the CRSP US Small Cap) and VBR (Vanguard Small-Cap Value ETF, tracking the CRSP US Small Cap Value) overlap by roughly 33% by weight. 4 of VB's top 10 holdings also appear in VBR. A 50/50 blend of the two behaves like about 2034 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 17 holdings appear in both VB and VBR. The weight columns show how much of each fund each name represents.
| Holding | in VB | in VBR |
|---|---|---|
| JBL Jabil Inc. | 0.49% | 0.87% |
| EME EMCOR Group Inc. | 0.44% | 0.39% |
| NRG NRG Energy Inc. | 0.37% | 0.66% |
| TPR Tapestry Inc. | 0.35% | 0.63% |
| ATO Atmos Energy Corp. | 0.34% | 0.61% |
| WSM Williams-Sonoma Inc. | 0.33% | 0.58% |
| MKSI MKS Instruments Inc. | 0.36% | 0.32% |
| MRNA Moderna Inc. | 0.30% | 0.53% |
| SW Smurfit Westrock plc | 0.29% | 0.52% |
| FFIV F5 Networks Inc. | 0.28% | 0.50% |
| USFD US Foods Holding Corp. | 0.27% | 0.48% |
| JBHT JB Hunt Transport Services Inc. | 0.26% | 0.46% |
| EXE Expand Energy Corp. | 0.26% | 0.46% |
| CHRW CH Robinson Worldwide Inc. | 0.25% | 0.45% |
| OMC Omnicom Group Inc. | 0.25% | 0.44% |
+ 2 more shared holdings.
Only in VB
Vanguard Small-Cap ETF — US small-cap. Its biggest holdings that VBR doesn’t have:
| CRDO Credo Technology Group Holding Ltd. | 0.54% |
| RVMD Revolution Medicines Inc. | 0.45% |
| ALAB Astera Labs Inc. | 0.45% |
| NTRA Natera Inc. | 0.44% |
| TWLO Twilio Inc. Class A | 0.37% |
| FLEX Flex Ltd. | 0.35% |
| CASY Casey's General Stores Inc. | 0.35% |
| CRS Carpenter Technology Corp. | 0.35% |
Only in VBR
Vanguard Small-Cap Value ETF — US small-cap value. Its biggest holdings that VB doesn’t have:
| EVRG Evergy Inc. | 0.40% |
| ESS Essex Property Trust Inc. | 0.40% |
| DD DuPont de Nemours Inc. | 0.39% |
| VTRS Viatris Inc. | 0.39% |
| CDW CDW Corp./DE | 0.38% |
| INVH Invitation Homes Inc. | 0.38% |
| EWBC East West Bancorp Inc. | 0.38% |
| AKAM Akamai Technologies Inc. | 0.37% |
So — partly overlapping. Should you hold both?
VB and VBR 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 ~2034 effective positions (grade A).
Holdings as of — VB: Jun 30, 2026 (Vanguard); VBR: 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 →VB vs VBR — FAQ
- How much do VB and VBR overlap?
- VB and VBR overlap by approximately 33% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of VB's 10 largest holdings are also held by VBR. They share 17 of their listed top holdings in total.
- Is it redundant to hold both VB and VBR?
- 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 (JBL) while each fund still adds distinct exposure. A 50/50 blend has an effective 2034 positions and a A diversification grade.
- What does VBR hold that VB doesn't?
- VBR's largest holdings that VB doesn't hold include EVRG, ESS, DD, VTRS, CDW. Its category is US small-cap value, versus VB's US small-cap.
- Which is more concentrated, VB or VBR?
- VB's top 10 holdings are 27% of its listed weight; VBR's are 29%. The more concentrated fund leans harder on its largest names.