VAW vs XMMO: Holdings Overlap
VAWVanguard Materials Index Fund
Vanguard · 110 holdings · $3.0B · as of 2026-05-31
XMMOInvesco S&P MidCap Momentum ETF
Invesco · 76 holdings · $7.2B · as of 2026-04-30
Holdings snapshots are 31 days apart (VAW: 2026-05-31, XMMO: 2026-04-30). 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 XMMO?
Vanguard Materials Index Fund (VAW, by Vanguard) holds 110 positions; Invesco S&P MidCap Momentum ETF (XMMO, by Invesco) holds 76. They have 6 holdings in common, and by portfolio weight the two funds are 4.8% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 6VAW holds 110 · XMMO holds 76
- Weight in Shared Holdings
- VAW 5%·XMMO 8%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
104 of 110 positions (95.0% of the fund) are not held by XMMO. Showing the top 30 by weight.
Sector Breakdown
| Sector | VAW | XMMO |
|---|---|---|
| Materials | 99.5% | 7.9% |
| Industrials | 0.0% | 40.3% |
| Information Technology | 0.0% | 15.0% |
| Energy | 0.3% | 7.1% |
| Utilities | 0.0% | 6.4% |
| Other Sectors | 0.0% | 22.9% |
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% |
| XMMO | +1.1% | +17.4% | +26.1% | +25.9% | +14.3% | +18.6% | 0.60% |
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 XMMO →
Shared Holdings(6)
The top 6 shared positions account for 100% of the overlap, led by AA, RGLD and HL.
 AAAlcoa Corporation COM | 1.29% | 1.25% | 1.25% |
|---|---|---|---|
 RGLDRoyal Gold, Inc. COM | 1.22% | 2.60% | 1.22% |
 HLHecla Mining Company COM | 0.76% | 1.93% | 0.76% |
 MPMP Materials Corp., Class A | 0.59% | 0.90% | 0.59% |
 CMCCommercial Metals Company COM | 0.54% | 0.74% | 0.54% |
 NEUNewmarket Corporation COM | 0.40% | 0.45% | 0.40% |
Frequently Asked Questions
How much do VAW and XMMO overlap?
VAW and XMMO overlap by 4.8% of portfolio weight. They share 6 holdings (VAW holds 110 positions and XMMO holds 76), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VAW and XMMO?
The two portfolios are 4.8% 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 XMMO?
The largest positions held by both funds are AA, RGLD, HL, MP and CMC. Together the top 6 shared positions account for 100% of the total overlap.
What does VAW own that XMMO doesn't?
104 positions (95.0% of VAW) are unique to VAW, led by LIN, NEM and FCX. In the other direction, 70 positions (91.8% of XMMO) are unique to XMMO.