VTV vs VYM: how much do they really overlap?
VTV (Vanguard Value ETF, tracking the CRSP US Large Cap Value) and VYM (Vanguard High Dividend Yield ETF, tracking the FTSE High Dividend Yield) overlap by roughly 72% by weight. 6 of VTV's top 10 holdings also appear in VYM. A 50/50 blend of the two behaves like about 119 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 38 holdings appear in both VTV and VYM. The weight columns show how much of each fund each name represents.
| Holding | in VTV | in VYM |
|---|---|---|
| JPM JPMorgan Chase & Co. | 2.88% | 3.14% |
| XOM Exxon Mobil Corp. | 2.31% | 2.53% |
| JNJ Johnson & Johnson | 2.07% | 2.24% |
| CSCO Cisco Systems Inc. | 1.63% | 1.98% |
| CAT Caterpillar Inc. | 1.55% | 1.67% |
| ABBV AbbVie Inc. | 1.47% | 1.59% |
| CVX Chevron Corp. | 1.32% | 1.41% |
| UNH UnitedHealth Group Inc. | 1.31% | 1.43% |
| PG Procter & Gamble Co. | 1.27% | 1.39% |
| BAC Bank of America Corp. | 1.27% | 1.40% |
| HD Home Depot Inc. | 1.20% | 1.30% |
| MRK Merck & Co. Inc. | 1.12% | 1.22% |
| GS Goldman Sachs Group Inc. | 1.10% | 1.18% |
| IBM International Business Machines Corp. | 1.06% | 1.14% |
| PM Philip Morris International Inc. | 1.05% | 1.14% |
+ 23 more shared holdings.
Only in VTV
Vanguard Value ETF — US large-cap value. Its biggest holdings that VYM doesn’t have:
| MU Micron Technology Inc. | 4.17% |
| BRK.B Berkshire Hathaway Inc. Class B | 2.82% |
| WMT Walmart Inc. | 1.93% |
| INTC Intel Corp. | 1.75% |
| TMO Thermo Fisher Scientific Inc. | 0.70% |
| AMAT Applied Materials Inc. | 0.68% |
| GE General Electric Co. | 0.61% |
| AXP American Express Co. | 0.58% |
Only in VYM
Vanguard High Dividend Yield ETF — US high-dividend. Its biggest holdings that VTV doesn’t have:
| AVGO Broadcom Inc. | 8.51% |
| ORCL Oracle Corp. | 1.57% |
| MCD McDonald's Corp. | 0.82% |
| DELL Dell Technologies Inc. | 0.54% |
| NEM Newmont Goldcorp Corp. | 0.50% |
| LOW Lowe's Cos. Inc. | 0.50% |
| MO Altria Group Inc. | 0.48% |
| BMY Bristol-Myers Squibb Co. | 0.48% |
So — heavily overlapping. Should you hold both?
VTV and VYM share most of their weight in the same names; the second fund adds only modest differentiation. If you already hold VTV, adding VYM mostly increases your bet on the names they share rather than spreading it — a 50/50 blend still behaves like only ~119 equal positions, with the top 10 alone at 22% and the Magnificent Seven at 0%.
Holdings as of — VTV: 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 →VTV vs VYM — FAQ
- How much do VTV and VYM overlap?
- VTV and VYM overlap by approximately 72% measured by portfolio weight — that is the share of the smaller fund's holdings (by weight) that also sit inside the other. 6 of VTV's 10 largest holdings are also held by VYM. They share 38 of their listed top holdings in total.
- Is it redundant to hold both VTV and VYM?
- 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 119 positions and a A diversification grade.
- What does VYM hold that VTV doesn't?
- VYM's largest holdings that VTV doesn't hold include AVGO, ORCL, MCD, DELL, NEM. Its category is US high-dividend, versus VTV's US large-cap value.
- Which is more concentrated, VTV or VYM?
- VTV's top 10 holdings are 41% of its listed weight; VYM's are 44%. The more concentrated fund leans harder on its largest names.