VEA vs VUG: how much do they really overlap?
VEA (Vanguard FTSE Developed Markets ETF, tracking the FTSE Developed All Cap ex US) and VUG (Vanguard Growth ETF, tracking the CRSP US Large Cap Growth) overlap by roughly 0% by weight. 0 of VEA's top 10 holdings also appear in VUG. A 50/50 blend of the two behaves like about 67 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 VEA and VUG. The weight columns show how much of each fund each name represents.
| Holding | in VEA | in VUG |
|---|
Only in VEA
Vanguard FTSE Developed Markets ETF — developed ex-US. Its biggest holdings that VUG doesn’t have:
| 005930 Samsung Electronics Co. Ltd. | 2.99% |
| 000660 SK hynix Inc | 2.55% |
| ASML ASML Holding NV | 1.90% |
| HSBA HSBC Holdings plc | 0.98% |
| ROP Roche Holding AG | 0.89% |
| NOVN Novartis AG | 0.87% |
| AZN AstraZeneca plc | 0.84% |
| RY Royal Bank of Canada | 0.81% |
Only in VUG
Vanguard Growth ETF — US large-cap growth. Its biggest holdings that VEA doesn’t have:
| NVDA NVIDIA Corp. | 13.10% |
| AAPL Apple Inc. | 12.32% |
| MSFT Microsoft Corp. | 8.99% |
| GOOGL Alphabet Inc. Class A | 5.95% |
| AVGO Broadcom Inc. | 5.17% |
| AMZN Amazon.com Inc. | 4.85% |
| GOOG Alphabet Inc. Class C | 4.68% |
| META Facebook Inc. Class A | 3.73% |
So — essentially different. Should you hold both?
VEA and VUG hold almost none of the same securities — they are complementary, not redundant. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~67 effective positions (grade A), because they hold largely different securities.
Holdings as of — VEA: May 31, 2026 (Vanguard); VUG: 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 →VEA vs VUG — FAQ
- How much do VEA and VUG overlap?
- VEA and VUG 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 VEA's 10 largest holdings are also held by VUG. They share 0 of their listed top holdings in total.
- Is it redundant to hold both VEA and VUG?
- 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 67 positions and a A diversification grade.
- What does VUG hold that VEA doesn't?
- VUG's largest holdings that VEA doesn't hold include NVDA, AAPL, MSFT, GOOGL, AVGO. Its category is US large-cap growth, versus VEA's developed ex-US.
- Which is more concentrated, VEA or VUG?
- VEA's top 10 holdings are 43% of its listed weight; VUG's are 73%. The more concentrated fund leans harder on its largest names.