Both funds come from Vanguard. VO is a mid-cap U.S. equity ETF, while VYM is a dividend-focused equity ETF. VO and VYM show meaningful overlap, with an estimated weighted overlap of 20.46%. They share 133 holdings in the loaded dataset, led by NEM, WMB, and CMI.
Freshly computed.
Quick Answer
Both funds come from Vanguard. VO is a mid-cap U.S. equity ETF, while VYM is a dividend-focused equity ETF. VO and VYM show meaningful overlap, with an estimated weighted overlap of 20.46%. They share 133 holdings in the loaded dataset, led by NEM, WMB, and CMI.
Data Freshness
Review the methodology for the overlap formula and refresh policy.
Compare another pair
Both funds come from Vanguard. VO is a mid-cap U.S. equity ETF, while VYM is a dividend-focused equity ETF. VO and VYM overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as NEM, WMB, and CMI, which explains why the score lands at 20.46%.
Both funds come from Vanguard. VO is a mid-cap U.S. equity ETF, while VYM is a dividend-focused equity ETF. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VO has the lower expense ratio, while VYM charges more for its exposure.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 6.26% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
Because VO and VYM are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VO has the lower expense ratio, while VYM charges more for its exposure.
Concentration
The top three shared holdings explain 6.26% 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.
These are the holdings contributing the most to the overlap score between VO and VYM.
| Holding | Name | VO Wt. | VYM Wt. | Overlap |
|---|---|---|---|---|
| NEM | Newmont Corp | 0.64% | 0.51% | 0.51% |
| WMB | Williams Cos Inc/The | 0.48% | 0.39% | 0.39% |
| CMI | Cummins Inc | 0.81% | 0.38% | 0.38% |
| JCI | Johnson Controls International plc | 0.44% | 0.37% | 0.37% |
| FDX | FedEx Corp | 0.41% | 0.36% | 0.36% |
| SLB | SLB Ltd | 0.84% | 0.36% | 0.36% |
| CRH | CRH PLC | 0.77% | 0.33% | 0.33% |
| VLO | Valero Energy Corp | 0.80% | 0.32% | 0.32% |
| MPC | Marathon Petroleum Corp | 0.78% | 0.31% | 0.31% |
| PSX | Phillips 66 | 0.80% | 0.30% | 0.30% |
Both funds come from Vanguard. VO is a mid-cap U.S. equity ETF, while VYM is a dividend-focused equity ETF. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are NEM, WMB, and CMI, which appear in both portfolios and push the overlap score higher.
Holding both VO and VYM can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
Go deeper
Portwise gives you full portfolio diagnostics — concentration risk, hidden risk scoring, drawdown analysis, and risk evolution tracking. Free to start.
Stay informed
Portfolio overlap alerts, new comparison data, and investing insights from the CG Corp team. No spam, unsubscribe anytime.
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.