VIG vs VTV: how much do they really overlap?
VIG (Vanguard Dividend Appreciation ETF, tracking the S&P US Dividend Growers) and VTV (Vanguard Value ETF, tracking the CRSP US Large Cap Value) overlap by roughly 58% by weight. 4 of VIG's top 10 holdings also appear in VTV. A 50/50 blend of the two behaves like about 114 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 27 holdings appear in both VIG and VTV. The weight columns show how much of each fund each name represents.
| Holding | in VIG | in VTV |
|---|---|---|
| JPM JPMorgan Chase & Co. | 3.56% | 3.06% |
| JNJ Johnson & Johnson | 2.66% | 2.29% |
| WMT Walmart Inc. | 2.16% | 1.86% |
| CAT Caterpillar Inc. | 2.14% | 1.84% |
| ABBV AbbVie Inc. | 1.94% | 1.66% |
| CSCO Cisco Systems Inc. | 2.02% | 1.56% |
| UNH UnitedHealth Group Inc. | 1.65% | 1.41% |
| BAC Bank of America Corp. | 1.62% | 1.36% |
| HD Home Depot Inc. | 1.53% | 1.32% |
| PG Procter & Gamble Co. | 1.49% | 1.28% |
| MRK Merck & Co. Inc. | 1.38% | 1.19% |
| GS Goldman Sachs Group Inc. | 1.24% | 1.06% |
| KO Coca-Cola Co. | 1.37% | 1.05% |
| IBM International Business Machines Corp. | 1.15% | 0.99% |
| MS Morgan Stanley | 1.09% | 0.93% |
+ 12 more shared holdings.
Only in VIG
Vanguard Dividend Appreciation ETF — US dividend-growth. Its biggest holdings that VTV doesn’t have:
| AVGO Broadcom Inc. | 4.53% |
| AAPL Apple Inc. | 4.20% |
| LLY Eli Lilly & Co. | 4.14% |
| MSFT Microsoft Corp. | 3.51% |
| LRCX Lam Research Corp. | 2.36% |
| V Visa Inc. Class A | 2.31% |
| COST Costco Wholesale Corp. | 1.81% |
| MA Mastercard Inc. Class A | 1.81% |
Only in VTV
Vanguard Value ETF — US large-cap value. Its biggest holdings that VIG doesn’t have:
| MU Micron Technology Inc. | 4.87% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.95% |
| CVX Chevron Corp. | 1.17% |
| PM Philip Morris International Inc. | 1.05% |
| INTC Intel Corp. | 1.05% |
| RTX RTX Corp. | 0.96% |
| WFC Wells Fargo & Co. | 0.95% |
| C Citigroup Inc. | 0.85% |
So — heavily overlapping. Should you hold both?
VIG and VTV share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold VIG, adding VTV mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~114 equal positions, with the top 10 alone at 22% and the Magnificent Seven at 4%.
Holdings as of — VIG: Jun 30, 2026 (Vanguard); VTV: 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 →VIG vs VTV — FAQ
- How much do VIG and VTV overlap?
- VIG and VTV overlap by approximately 58% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 4 of VIG's 10 largest holdings are also held by VTV. They share 27 of their listed top holdings in total.
- Is it redundant to hold both VIG and VTV?
- 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 114 positions and a A diversification grade.
- What does VTV hold that VIG doesn't?
- VTV's largest holdings that VIG doesn't hold include MU, BRK.B, CVX, PM, INTC. Its category is US large-cap value, versus VIG's US dividend-growth.
- Which is more concentrated, VIG or VTV?
- VIG's top 10 holdings are 44% of its listed weight; VTV's are 43%. The more concentrated fund leans harder on its largest names.