VO vs VXF: how much do they really overlap?
VO (Vanguard Mid-Cap ETF, tracking the CRSP US Mid Cap) and VXF (Vanguard Extended Market ETF, tracking the S&P Completion) overlap by roughly 11% by weight. 1 of VO's top 10 holdings also appear in VXF. A 50/50 blend of the two behaves like about 1049 equally-weighted bets (diversification grade A). In short, the two funds have only a small shared core — they mostly hold different things and are largely complementary.
The same companies, in both funds
These 3 holdings appear in both VO and VXF. The weight columns show how much of each fund each name represents.
| Holding | in VO | in VXF |
|---|---|---|
| BE Bloom Energy Corp. Class A | 0.79% | 0.89% |
| NET Cloudflare Inc. Class A | 0.76% | 0.88% |
| RKLB Rocket Lab Corp. | 0.57% | 0.58% |
Only in VO
Vanguard Mid-Cap ETF — US mid-cap. Its biggest holdings that VXF doesn’t have:
| VRT Vertiv Holdings Co. Class A | 1.22% |
| WDC Western Digital Corp. | 1.06% |
| STX Seagate Technology Holdings plc | 1.04% |
| PWR Quanta Services Inc. | 1.04% |
| HWM Howmet Aerospace Inc. | 1.04% |
| CMI Cummins Inc. | 0.95% |
| DDOG Datadog Inc. Class A | 0.83% |
| CEG Constellation Energy Corp. | 0.78% |
Only in VXF
Vanguard Extended Market ETF — US mid/small completion. Its biggest holdings that VO doesn’t have:
| SPCX Space Exploration Technologies Corp. Class A | 1.14% |
| SNOW Snowflake Inc. | 0.99% |
| ALAB Astera Labs Inc. | 0.73% |
| LNG Cheniere Energy Inc. | 0.56% |
| FERG Ferguson Enterprises Inc./DE | 0.52% |
| CRDO Credo Technology Group Holding Ltd. | 0.50% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.45% |
| NTRA Natera Inc. | 0.44% |
So — mostly different. Should you hold both?
VO and VXF have only a small shared core — they mostly hold different things and are largely complementary. Held together they genuinely broaden your exposure — a 50/50 blend reaches ~1049 effective positions (grade A), because they hold largely different securities.
Holdings as of — VO: Jun 30, 2026 (Vanguard); VXF: 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 →VO vs VXF — FAQ
- How much do VO and VXF overlap?
- VO and VXF overlap by approximately 11% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 1 of VO's 10 largest holdings are also held by VXF. They share 3 of their listed top holdings in total.
- Is it redundant to hold both VO and VXF?
- Because they have only a small shared core — they mostly hold different things and are largely complementary, holding both is not redundant — each fund covers largely different holdings, so together they broaden your exposure. A 50/50 blend has an effective 1049 positions and a A diversification grade.
- What does VXF hold that VO doesn't?
- VXF's largest holdings that VO doesn't hold include SPCX, SNOW, ALAB, LNG, FERG. Its category is US mid/small completion, versus VO's US mid-cap.
- Which is more concentrated, VO or VXF?
- VO's top 10 holdings are 27% of its listed weight; VXF's are 38%. The more concentrated fund leans harder on its largest names.