VBR vs VWO Overlap
Both funds come from Vanguard. VBR is a U.S. value equity ETF, while VWO is an emerging-markets equity ETF. VBR and VWO show limited overlap, with an estimated weighted overlap of 0.2%. They share 13 holdings in the loaded dataset, led by AL, BHE, and BHF.
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Quick Answer
Both funds come from Vanguard. VBR is a U.S. value equity ETF, while VWO is an emerging-markets equity ETF. VBR and VWO show limited overlap, with an estimated weighted overlap of 0.2%. They share 13 holdings in the loaded dataset, led by AL, BHE, and BHF.
- 0.2% weighted overlap across 13 shared holdings.
- The top three shared holdings explain 60.5% of the measured overlap.
- VBR and VWO are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both can still add materially different exposure.
Data Freshness
- VBR holdings
- Mar 12, 2026
- VWO holdings
- Mar 12, 2026
- Overlap computed
- Mar 15, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
Both funds come from Vanguard. VBR is a U.S. value equity ETF, while VWO is an emerging-markets equity ETF. VBR and VWO do not own much of the same portfolio weight. That usually means you are combining different parts of the market, with only a small amount of duplication through names like AL, BHE, and BHF.
How They Differ
Both funds come from Vanguard. VBR is a U.S. value equity ETF, while VWO is an emerging-markets equity ETF. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VBR and VWO are priced very similarly on expense ratio.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 60.5% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
Because VBR and VWO are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VBR and VWO are priced very similarly on expense ratio.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 60.5% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between VBR and VWO.
| Holding | Name | VBR Wt. | VWO Wt. | Overlap |
|---|---|---|---|---|
| AL | Air Lease Corp | 0.15% | 0.05% | 0.05% |
| BHE | Benchmark Electronics Inc | 0.04% | 0.15% | 0.04% |
| BHF | Brighthouse Financial Inc | 0.09% | 0.03% | 0.03% |
| TDC | Teradata Corp | 0.06% | 0.02% | 0.02% |
| PAG | Penske Automotive Group Inc | 0.06% | 0.02% | 0.02% |
| AMR | Alpha Metallurgical Resources Inc | 0.05% | 0.01% | 0.01% |
| HMN | Horace Mann Educators Corp | 0.04% | 0.01% | 0.01% |
| SF | Stifel Financial Corp | 0.28% | 0.01% | 0.01% |
| M | Macy's Inc | 0.12% | 0.01% | 0.01% |
| SCI | Service Corp International/US | 0.25% | 0.01% | 0.01% |
Why These ETFs Overlap
Both funds come from Vanguard. VBR is a U.S. value equity ETF, while VWO is an emerging-markets equity ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are AL, BHE, and BHF, which appear in both portfolios and push the overlap score higher.
Holding both VBR and VWO can make sense if you want exposure to different sleeves of the market. The overlap is small enough that both funds may still improve diversification.
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Frequently Asked Questions About VBR and VWO
What is the overlap between VBR and VWO?+
How many holdings do VBR and VWO share?+
Is the VBR and VWO overlap high?+
Why do VBR and VWO overlap?+
Which ETF is broader, VBR or VWO?+
How Overlap Is Calculated
A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.