VB vs VXF: how much do they really overlap?
VB (Vanguard Small-Cap ETF, tracking the CRSP US Small Cap) and VXF (Vanguard Extended Market ETF, tracking the S&P Completion) overlap by roughly 56% by weight. 6 of VB's top 10 holdings also appear in VXF. A 50/50 blend of the two behaves like about 1938 equally-weighted bets (diversification grade A). In short, the two funds share most of their weight in the same names; the second fund adds only modest differentiation.
The same companies, in both funds
These 28 holdings appear in both VB and VXF. The weight columns show how much of each fund each name represents.
| Holding | in VB | in VXF |
|---|---|---|
| CRDO Credo Technology Group Holding Ltd. | 0.54% | 0.50% |
| ALAB Astera Labs Inc. | 0.45% | 0.73% |
| NTRA Natera Inc. | 0.44% | 0.44% |
| RVMD Revolution Medicines Inc. | 0.45% | 0.42% |
| TWLO Twilio Inc. Class A | 0.37% | 0.35% |
| CRS Carpenter Technology Corp. | 0.35% | 0.35% |
| MKSI MKS Instruments Inc. | 0.36% | 0.34% |
| CW Curtiss-Wright Corp. | 0.33% | 0.32% |
| FTAI FTAI Aviation Ltd. | 0.33% | 0.31% |
| NVT nVent Electric plc | 0.33% | 0.31% |
| ENTG Entegris Inc. | 0.33% | 0.31% |
| ATI Allegheny Technologies Inc. | 0.32% | 0.30% |
| FTI TechnipFMC plc | 0.32% | 0.30% |
| ILMN Illumina Inc. | 0.30% | 0.30% |
| MTZ MasTec Inc. | 0.31% | 0.29% |
+ 13 more shared holdings.
Only in VB
Vanguard Small-Cap ETF — US small-cap. Its biggest holdings that VXF doesn’t have:
| JBL Jabil Inc. | 0.49% |
| EME EMCOR Group Inc. | 0.44% |
| NRG NRG Energy Inc. | 0.37% |
| FLEX Flex Ltd. | 0.35% |
| TPR Tapestry Inc. | 0.35% |
| CASY Casey's General Stores Inc. | 0.35% |
| ATO Atmos Energy Corp. | 0.34% |
| WSM Williams-Sonoma Inc. | 0.33% |
Only in VXF
Vanguard Extended Market ETF — US mid/small completion. Its biggest holdings that VB doesn’t have:
| SPCX Space Exploration Technologies Corp. Class A | 1.14% |
| SNOW Snowflake Inc. | 0.99% |
| BE Bloom Energy Corp. Class A | 0.89% |
| NET Cloudflare Inc. Class A | 0.88% |
| RKLB Rocket Lab Corp. | 0.58% |
| LNG Cheniere Energy Inc. | 0.56% |
| FERG Ferguson Enterprises Inc./DE | 0.52% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.45% |
So — heavily overlapping. Should you hold both?
VB and VXF share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold VB, adding VXF mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~1938 equal positions, with the top 10 alone at 5% and the Magnificent Seven at 0%.
Holdings as of — VB: Jun 30, 2026 (Vanguard); VXF: 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 VXF — FAQ
- How much do VB and VXF overlap?
- VB and VXF overlap by approximately 56% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 6 of VB's 10 largest holdings are also held by VXF. They share 28 of their listed top holdings in total.
- Is it redundant to hold both VB and VXF?
- Because they share most of their weight in the same names; the second fund adds only modest differentiation, holding both is largely redundant — you mostly duplicate the same megacaps and concentrate rather than diversify. A 50/50 blend has an effective 1938 positions and a A diversification grade.
- What does VXF hold that VB doesn't?
- VXF's largest holdings that VB doesn't hold include SPCX, SNOW, BE, NET, RKLB. Its category is US mid/small completion, versus VB's US small-cap.
- Which is more concentrated, VB or VXF?
- VB's top 10 holdings are 27% of its listed weight; VXF's are 38%. The more concentrated fund leans harder on its largest names.