VBR vs XBI: Holdings Overlap
VBRVanguard Small-cap Value Index Fund
Vanguard · 838 holdings · $38.3B · as of 2026-03-31
XBIState Street® SPDR® S&P® Biotech ETF
State Street (SPDR) · 149 holdings · $10.0B · as of 2026-08-06
Holdings snapshots are 128 days apart (VBR: 2026-03-31, XBI: 2026-08-06). 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 VBR and XBI?
Vanguard Small-cap Value Index Fund (VBR, by Vanguard) holds 838 positions; State Street® SPDR® S&P® Biotech ETF (XBI, by State Street (SPDR)) holds 149. They have 10 holdings in common, and by portfolio weight the two funds are 1.5% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 10VBR holds 838 · XBI holds 149
- Weight in Shared Holdings
- VBR 2%·XBI 9%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 VBR
828 of 838 positions (98.3% of the fund) are not held by XBI. Showing the top 30 by weight.
Only in XBI
139 of 149 positions (91.0% of the fund) are not held by VBR. Showing the top 30 by weight.
Sector Breakdown
| Sector | VBR | XBI |
|---|---|---|
| Health Care | 8.4% | 95.5% |
| Industrials | 18.8% | 0.0% |
| Financials | 18.7% | 0.0% |
| Consumer Discretionary | 10.9% | 0.0% |
| Real Estate | 9.1% | 0.0% |
| Other Sectors | 33.4% | 0.0% |
| Unclassified | 0.5% | 4.6% |
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. “Unclassified” is weight we could not classify (1% of VBR, 5% of XBI).
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VBR | +3.1% | +19.2% | +28.7% | +15.4% | +10.0% | +10.8% | 1.73% |
| XBI | -4.0% | +29.2% | +85.3% | +26.3% | +4.5% | +9.5% | 0.36% |
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 VBR vs XBI →
Shared Holdings(10)
The top 10 shared positions account for 100% of the overlap, led by UTHR, MRNA and COGT.
 UTHRUnited Therapeutics Corporation COM | 0.63% | 0.95% | 0.63% |
|---|---|---|---|
 MRNAModerna Inc COM | 0.44% | 1.13% | 0.44% |
 COGTCogent Biosciences Inc. COM | 0.14% | 1.29% | 0.14% |
 CGONCG Oncology Inc. COM | 0.11% | 1.32% | 0.11% |
 PRAXPraxis Precision Medicines Inc COM NEW | 0.11% | 1.49% | 0.11% |
 SMMTSummit Therapeutics Inc. COM | 0.05% | 0.98% | 0.05% |
 DYNDyne Therapeutics Inc. COM | 0.03% | 1.04% | 0.03% |
 IOVAIovance Biotherapeutics Inc COM | 0.02% | 0.88% | 0.02% |
 2200963DOmniAb Inc. USD0.0001 A (USD12.5 VESTING) | 0.00% | 0.00% | 0.00% |
 2200964DOmniAb Inc. USD0.0001 A (USD15 VESTING) | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
How much do VBR and XBI overlap?
VBR and XBI overlap by 1.5% of portfolio weight. They share 10 holdings (VBR holds 838 positions and XBI holds 149), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VBR and XBI?
The two portfolios are 1.5% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of VBR and XBI?
The largest positions held by both funds are UTHR, MRNA, COGT, CGON and PRAX. Together the top 10 shared positions account for 100% of the total overlap.
What does VBR own that XBI doesn't?
828 positions (98.3% of VBR) are unique to VBR, led by NRG, ATO and TPR. In the other direction, 139 positions (91.0% of XBI) are unique to XBI.