VBR vs VIG: how much do they really overlap?
VBR (Vanguard Small-Cap Value ETF, tracking the CRSP US Small Cap Value) and VIG (Vanguard Dividend Appreciation ETF, tracking the S&P US Dividend Growers) overlap by roughly 0% by weight. 0 of VBR's top 10 holdings also appear in VIG. A 50/50 blend of the two behaves like about 242 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 VBR and VIG. The weight columns show how much of each fund each name represents.
| Holding | in VBR | in VIG |
|---|
Only in VBR
Vanguard Small-Cap Value ETF — US small-cap value. Its biggest holdings that VIG doesn’t have:
| JBL Jabil Inc. | 0.87% |
| NRG NRG Energy Inc. | 0.66% |
| TPR Tapestry Inc. | 0.63% |
| ATO Atmos Energy Corp. | 0.61% |
| WSM Williams-Sonoma Inc. | 0.58% |
| MRNA Moderna Inc. | 0.53% |
| SW Smurfit Westrock plc | 0.52% |
| FFIV F5 Networks Inc. | 0.50% |
Only in VIG
Vanguard Dividend Appreciation ETF — US dividend-growth. Its biggest holdings that VBR doesn’t have:
| AVGO Broadcom Inc. | 4.53% |
| AAPL Apple Inc. | 4.20% |
| LLY Eli Lilly & Co. | 4.14% |
| JPM JPMorgan Chase & Co. | 3.56% |
| MSFT Microsoft Corp. | 3.51% |
| JNJ Johnson & Johnson | 2.66% |
| LRCX Lam Research Corp. | 2.36% |
| V Visa Inc. Class A | 2.31% |
So — essentially different. Should you hold both?
VBR and VIG hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~242 effective positions (grade A), because they hold largely different securities.
Holdings as of — VBR: Jun 30, 2026 (Vanguard); 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 →VBR vs VIG — FAQ
- How much do VBR and VIG overlap?
- VBR and VIG 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 VBR's 10 largest holdings are also held by VIG. They share 0 of their listed top holdings in total.
- Is it redundant to hold both VBR and VIG?
- 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 242 positions and a A diversification grade.
- What does VIG hold that VBR doesn't?
- VIG's largest holdings that VBR doesn't hold include AVGO, AAPL, LLY, JPM, MSFT. Its category is US dividend-growth, versus VBR's US small-cap value.
- Which is more concentrated, VBR or VIG?
- VBR's top 10 holdings are 29% of its listed weight; VIG's are 44%. The more concentrated fund leans harder on its largest names.