VAW vs VTI: Holdings Overlap
VAWVanguard Materials Index Fund
Vanguard · 110 holdings · $3.0B · as of 2026-05-31
VTIVanguard Total Stock Market Index Fund
Vanguard · 3505 holdings · $696.4B · as of 2026-03-31
Holdings snapshots are 61 days apart (VAW: 2026-05-31, VTI: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are VAW and VTI?
Vanguard Materials Index Fund (VAW, by Vanguard) holds 110 positions; Vanguard Total Stock Market Index Fund (VTI, by Vanguard) holds 3505. They have 102 holdings in common, and by portfolio weight the two funds are 2.3% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 102VAW holds 110 · VTI holds 3505
- Weight in Shared Holdings
- VAW 96%·VTI 2%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VAW
8 of 110 positions (3.5% of the fund) are not held by VTI.
Sector Breakdown
| Sector | VAW | VTI |
|---|---|---|
| Materials | 99.5% | 2.3% |
| Information Technology | 0.0% | 30.5% |
| Financials | 0.0% | 12.7% |
| Industrials | 0.0% | 10.4% |
| Health Care | 0.0% | 10.0% |
| Other Sectors | 0.3% | 33.4% |
Share of each fund's portfolio weight by GICS-style sector, compiled from issuer fund data and our own classification of the holdings, not the issuers' published sector charts.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VAW | +3.2% | +14.7% | +20.8% | +10.3% | +7.0% | +10.1% | 1.34% |
| VTI | +3.3% | +14.6% | +24.2% | +20.9% | +12.3% | +14.9% | 1.02% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VAW vs VTI →
Shared Holdings(102)
The top 10 shared positions account for 58% of the overlap, led by LIN, NEM and FCX.
 LINLinde PLC COM EUR0.001 | 14.92% | 0.37% | 0.37% |
|---|---|---|---|
 NEMNewmont Corporation COM | 7.69% | 0.19% | 0.19% |
 FCXFreeport-McMoRan Inc. CL B | 6.06% | 0.13% | 0.13% |
 SHWThe Sherwin-Williams Company COM | 4.59% | 0.12% | 0.12% |
 CRHCRH plc | 4.68% | 0.11% | 0.11% |
 ECLEcolab Inc. COM | 4.19% | 0.11% | 0.11% |
 APDAir Products & Chemicals, Inc. COM | 3.81% | 0.10% | 0.10% |
 CTVACorteva Inc COM | 3.40% | 0.09% | 0.09% |
 NUENucor Corporation COM | 3.67% | 0.06% | 0.06% |
 VMCVulcan Materials Company COM | 2.40% | 0.06% | 0.06% |
 MLMMartin Marietta Materials Inc COM | 2.25% | 0.06% | 0.06% |
 DOWDow Inc COM | 1.54% | 0.05% | 0.05% |
 STLDSteel Dynamics, Inc. COM | 2.32% | 0.04% | 0.04% |
 PPGPPG Industries, Inc. COM | 1.63% | 0.04% | 0.04% |
 RGLDRoyal Gold, Inc. COM | 1.22% | 0.03% | 0.03% |
 ALBAlbemarle Corp COM | 1.33% | 0.03% | 0.03% |
 SWSmurfit WestRock plc COM USD0.001 | 1.38% | 0.03% | 0.03% |
 LYBLyondellBasell Industries NV COM EUR0.04 CLASS 'A' | 1.10% | 0.03% | 0.03% |
 CFCF Industries Holdings, Inc. COM | 1.12% | 0.03% | 0.03% |
 IPInternational Paper Co. COM | 1.08% | 0.03% | 0.03% |
 PKGPackaging Corporation of America COM | 1.26% | 0.03% | 0.03% |
 DDDupont De Nemours Inc COM | 1.30% | 0.03% | 0.03% |
 IFFInternational Flavors & Fragrances Inc. COM | 1.25% | 0.03% | 0.03% |
 AAAlcoa Corporation COM | 1.29% | 0.03% | 0.03% |
 RSReliance Inc COM | 1.28% | 0.03% | 0.03% |
Frequently Asked Questions
How much do VAW and VTI overlap?
VAW and VTI overlap by 2.3% of portfolio weight. They share 102 holdings (VAW holds 110 positions and VTI holds 3505), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VAW and VTI?
The two portfolios are 2.3% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of VAW and VTI?
The largest positions held by both funds are LIN, NEM, FCX, SHW and CRH. Together the top 10 shared positions account for 58% of the total overlap.
What does VAW own that VTI doesn't?
8 positions (3.5% of VAW) are unique to VAW, led by AMRZ, AMCR and CSTM. In the other direction, 3403 positions (97.3% of VTI) are unique to VTI.