VIG vs VOOG: how much do they really overlap?
VIG (Vanguard Dividend Appreciation ETF, tracking the S&P US Dividend Growers) and VOOG (Vanguard S&P 500 Growth ETF, tracking the S&P 500 Growth) overlap by roughly 38% by weight. 8 of VIG's top 10 holdings also appear in VOOG. A 50/50 blend of the two behaves like about 43 equally-weighted bets (diversification grade B). 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 20 holdings appear in both VIG and VOOG. The weight columns show how much of each fund each name represents.
| Holding | in VIG | in VOOG |
|---|---|---|
| AVGO Broadcom Inc. | 5.41% | 5.89% |
| AAPL Apple Inc. | 4.57% | 6.37% |
| MSFT Microsoft Corp. | 4.27% | 9.29% |
| LLY Eli Lilly & Co. | 3.85% | 2.43% |
| JPM JPMorgan Chase & Co. | 3.32% | 1.43% |
| CAT Caterpillar Inc. | 1.79% | 1.13% |
| LRCX Lam Research Corp. | 1.75% | 1.10% |
| JNJ Johnson & Johnson | 2.39% | 0.89% |
| V Visa Inc. Class A | 2.25% | 0.84% |
| MA Mastercard Inc. Class A | 1.77% | 0.75% |
| CSCO Cisco Systems Inc. | 2.09% | 0.70% |
| KLAC KLA Corp. | 1.11% | 0.70% |
| ORCL Oracle Corp. | 1.68% | 0.55% |
| GS Goldman Sachs Group Inc. | 1.29% | 0.53% |
| APH Amphenol Corp. Class A | 0.80% | 0.51% |
+ 5 more shared holdings.
Only in VIG
Vanguard Dividend Appreciation ETF — US dividend-growth. Its biggest holdings that VOOG doesn’t have:
| XOM Exxon Mobil Corp. | 2.67% |
| WMT Walmart Inc. | 2.23% |
| COST Costco Wholesale Corp. | 1.87% |
| UNH UnitedHealth Group Inc. | 1.51% |
| BAC Bank of America Corp. | 1.51% |
| PG Procter & Gamble Co. | 1.47% |
| HD Home Depot Inc. | 1.39% |
| MRK Merck & Co. Inc. | 1.30% |
Only in VOOG
Vanguard S&P 500 Growth ETF — US large-cap growth. Its biggest holdings that VIG doesn’t have:
| NVDA NVIDIA Corp. | 14.26% |
| GOOGL Alphabet Inc. Class A | 6.15% |
| GOOG Alphabet Inc. Class C | 4.89% |
| AMZN Amazon.com Inc. | 3.89% |
| META Facebook Inc. Class A | 3.84% |
| MU Micron Technology Inc. | 3.04% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.42% |
| AMD Advanced Micro Devices Inc. | 2.34% |
So — partly overlapping. Should you hold both?
VIG and VOOG 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 ~43 effective positions (grade B).
Holdings as of — VIG: May 31, 2026 (Vanguard); VOOG: 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 →VIG vs VOOG — FAQ
- How much do VIG and VOOG overlap?
- VIG and VOOG overlap by approximately 38% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 8 of VIG's 10 largest holdings are also held by VOOG. They share 20 of their listed top holdings in total.
- Is it redundant to hold both VIG and VOOG?
- 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 (AVGO) while each fund still adds distinct exposure. A 50/50 blend has an effective 43 positions and a B diversification grade.
- What does VOOG hold that VIG doesn't?
- VOOG's largest holdings that VIG doesn't hold include NVDA, GOOGL, GOOG, AMZN, META. Its category is US large-cap growth, versus VIG's US dividend-growth.
- Which is more concentrated, VIG or VOOG?
- VIG's top 10 holdings are 45% of its listed weight; VOOG's are 67%. The more concentrated fund leans harder on its largest names.