VB vs VYM: how much do they really overlap?
VB (Vanguard Small-Cap ETF, tracking the CRSP US Small Cap) and VYM (Vanguard High Dividend Yield ETF, tracking the FTSE High Dividend Yield) overlap by roughly 0% by weight. 0 of VB's top 10 holdings also appear in VYM. A 50/50 blend of the two behaves like about 274 equally-weighted bets (diversification grade A). 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 VB and VYM. The weight columns show how much of each fund each name represents.
| Holding | in VB | in VYM |
|---|
Only in VB
Vanguard Small-Cap ETF — US small-cap. Its biggest holdings that VYM doesn’t have:
| FLEX Flex Ltd. | 0.69% |
| ALAB Astera Labs Inc. | 0.62% |
| CIEN Ciena Corp. | 0.51% |
| RKLB Rocket Lab Corp. | 0.50% |
| CRDO Credo Technology Group Holding Ltd. | 0.48% |
| BE Bloom Energy Corp. Class A | 0.47% |
| EME EMCOR Group Inc. | 0.46% |
| JBL Jabil Inc. | 0.45% |
Only in VYM
Vanguard High Dividend Yield ETF — US high-dividend. Its biggest holdings that VB doesn’t have:
| AVGO Broadcom Inc. | 8.51% |
| JPM JPMorgan Chase & Co. | 3.14% |
| XOM Exxon Mobil Corp. | 2.53% |
| JNJ Johnson & Johnson | 2.24% |
| CSCO Cisco Systems Inc. | 1.98% |
| CAT Caterpillar Inc. | 1.67% |
| ABBV AbbVie Inc. | 1.59% |
| ORCL Oracle Corp. | 1.57% |
So — essentially different. Should you hold both?
VB and VYM hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~274 effective positions (grade A), because they hold largely different securities.
Holdings as of — VB: May 31, 2026 (Vanguard); VYM: 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 →VB vs VYM — FAQ
- How much do VB and VYM overlap?
- VB and VYM 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 VB's 10 largest holdings are also held by VYM. They share 0 of their listed top holdings in total.
- Is it redundant to hold both VB and VYM?
- 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 274 positions and a A diversification grade.
- What does VYM hold that VB doesn't?
- VYM's largest holdings that VB doesn't hold include AVGO, JPM, XOM, JNJ, CSCO. Its category is US high-dividend, versus VB's US small-cap.
- Which is more concentrated, VB or VYM?
- VB's top 10 holdings are 29% of its listed weight; VYM's are 44%. The more concentrated fund leans harder on its largest names.