VOO vs VYM: how much do they really overlap?
VOO (Vanguard S&P 500 ETF, tracking the S&P 500) and VYM (Vanguard High Dividend Yield ETF, tracking the FTSE High Dividend Yield) overlap by roughly 27% by weight. 1 of VOO's top 10 holdings also appear in VYM. A 50/50 blend of the two behaves like about 89 equally-weighted bets (diversification grade A). 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 24 holdings appear in both VOO and VYM. The weight columns show how much of each fund each name represents.
| Holding | in VOO | in VYM |
|---|---|---|
| AVGO Broadcom Inc. | 3.26% | 8.51% |
| JPM JPMorgan Chase & Co. | 1.16% | 3.14% |
| XOM Exxon Mobil Corp. | 0.93% | 2.53% |
| JNJ Johnson & Johnson | 0.84% | 2.24% |
| CSCO Cisco Systems Inc. | 0.73% | 1.98% |
| CAT Caterpillar Inc. | 0.63% | 1.67% |
| ABBV AbbVie Inc. | 0.59% | 1.59% |
| ORCL Oracle Corp. | 0.59% | 1.57% |
| UNH UnitedHealth Group Inc. | 0.53% | 1.43% |
| CVX Chevron Corp. | 0.53% | 1.41% |
| PG Procter & Gamble Co. | 0.51% | 1.39% |
| BAC Bank of America Corp. | 0.51% | 1.40% |
| HD Home Depot Inc. | 0.49% | 1.30% |
| KO Coca-Cola Co. | 0.47% | 1.27% |
| MRK Merck & Co. Inc. | 0.45% | 1.22% |
+ 9 more shared holdings.
Only in VOO
Vanguard S&P 500 ETF — US large-cap. Its biggest holdings that VYM doesn’t have:
| NVDA NVIDIA Corp. | 7.89% |
| AAPL Apple Inc. | 7.05% |
| MSFT Microsoft Corp. | 5.14% |
| AMZN Amazon.com Inc. | 4.07% |
| GOOGL Alphabet Inc. Class A | 3.41% |
| GOOG Alphabet Inc. Class C | 2.71% |
| META Facebook Inc. Class A | 2.13% |
| TSLA Tesla Inc. | 1.89% |
Only in VYM
Vanguard High Dividend Yield ETF — US high-dividend. Its biggest holdings that VOO doesn’t have:
| C Citigroup Inc. | 0.85% |
| ADI Analog Devices Inc. | 0.83% |
| VZ Verizon Communications Inc. | 0.83% |
| MCD McDonald's Corp. | 0.82% |
| PEP PepsiCo Inc. | 0.81% |
| NEE NextEra Energy Inc. | 0.75% |
| DIS Walt Disney Co. | 0.75% |
| T AT&T Inc. | 0.71% |
So — partly overlapping. Should you hold both?
VOO and VYM 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 ~89 effective positions (grade A).
Holdings as of — VOO: May 31, 2026 (Vanguard); VYM: 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 VYM — FAQ
- How much do VOO and VYM overlap?
- VOO and VYM overlap by approximately 27% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 1 of VOO's 10 largest holdings are also held by VYM. They share 24 of their listed top holdings in total.
- Is it redundant to hold both VOO and VYM?
- 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 89 positions and a A diversification grade.
- What does VYM hold that VOO doesn't?
- VYM's largest holdings that VOO doesn't hold include C, ADI, VZ, MCD, PEP. Its category is US high-dividend, versus VOO's US large-cap.
- Which is more concentrated, VOO or VYM?
- VOO's top 10 holdings are 61% of its listed weight; VYM's are 44%. The more concentrated fund leans harder on its largest names.