VOO vs VUG: how much do they really overlap?
VOO (Vanguard S&P 500 ETF, tracking the S&P 500) and VUG (Vanguard Growth ETF, tracking the CRSP US Large Cap Growth) overlap by roughly 74% by weight. 9 of VOO's top 10 holdings also appear in VUG. A 50/50 blend of the two behaves like about 28 equally-weighted bets (diversification grade C). 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 25 holdings appear in both VOO and VUG. The weight columns show how much of each fund each name represents.
| Holding | in VOO | in VUG |
|---|---|---|
| NVDA NVIDIA Corp. | 7.89% | 13.10% |
| AAPL Apple Inc. | 7.05% | 12.32% |
| MSFT Microsoft Corp. | 5.14% | 8.99% |
| AMZN Amazon.com Inc. | 4.07% | 4.85% |
| GOOGL Alphabet Inc. Class A | 3.41% | 5.95% |
| AVGO Broadcom Inc. | 3.26% | 5.17% |
| GOOG Alphabet Inc. Class C | 2.71% | 4.68% |
| META Facebook Inc. Class A | 2.13% | 3.73% |
| TSLA Tesla Inc. | 1.89% | 3.31% |
| LLY Eli Lilly & Co. | 1.35% | 2.53% |
| AMD Advanced Micro Devices Inc. | 1.29% | 2.30% |
| V Visa Inc. Class A | 0.83% | 1.45% |
| COST Costco Wholesale Corp. | 0.65% | 1.15% |
| MA Mastercard Inc. Class A | 0.62% | 1.07% |
| LRCX Lam Research Corp. | 0.61% | 1.09% |
+ 10 more shared holdings.
Only in VOO
Vanguard S&P 500 ETF — US large-cap. Its biggest holdings that VUG doesn’t have:
| MU Micron Technology Inc. | 1.68% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.34% |
| JPM JPMorgan Chase & Co. | 1.16% |
| XOM Exxon Mobil Corp. | 0.93% |
| JNJ Johnson & Johnson | 0.84% |
| INTC Intel Corp. | 0.83% |
| WMT Walmart Inc. | 0.78% |
| CSCO Cisco Systems Inc. | 0.73% |
Only in VUG
Vanguard Growth ETF — US large-cap growth. Its biggest holdings that VOO doesn’t have:
| STX Seagate Technology Holdings plc | 0.55% |
| MCD McDonald's Corp. | 0.54% |
| MRVL Marvell Technology Inc. | 0.51% |
| APH Amphenol Corp. Class A | 0.51% |
| BA Boeing Co. | 0.50% |
| CRWD Crowdstrike Holdings Inc. Class A | 0.49% |
| TJX TJX Cos. Inc. | 0.48% |
| ANET Arista Networks Inc. | 0.47% |
So — heavily overlapping. Should you hold both?
VOO and VUG share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold VOO, adding VUG mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~28 equal positions, with the top 10 alone at 52% and the Magnificent Seven at 46%.
Holdings as of — VOO: 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 →VOO vs VUG — FAQ
- How much do VOO and VUG overlap?
- VOO and VUG overlap by approximately 74% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 9 of VOO's 10 largest holdings are also held by VUG. They share 25 of their listed top holdings in total.
- Is it redundant to hold both VOO and VUG?
- 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 28 positions and a C diversification grade.
- What does VUG hold that VOO doesn't?
- VUG's largest holdings that VOO doesn't hold include STX, MCD, MRVL, APH, BA. Its category is US large-cap growth, versus VOO's US large-cap.
- Which is more concentrated, VOO or VUG?
- VOO's top 10 holdings are 61% of its listed weight; VUG's are 73%. The more concentrated fund leans harder on its largest names.