VBR vs XMHQ: Holdings Overlap
VBRVanguard Small-cap Value Index Fund
Vanguard · 838 holdings · $38.3B · as of 2026-03-31
XMHQInvesco S&P MidCap Quality ETF
Invesco · 80 holdings · $5.5B · as of 2026-04-30
Holdings snapshots are 30 days apart (VBR: 2026-03-31, XMHQ: 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 VBR and XMHQ?
Vanguard Small-cap Value Index Fund (VBR, by Vanguard) holds 838 positions; Invesco S&P MidCap Quality ETF (XMHQ, by Invesco) holds 80. They have 46 holdings in common, and by portfolio weight the two funds are 7.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 46VBR holds 838 · XMHQ holds 80
- Weight in Shared Holdings
- VBR 8%·XMHQ 48%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
792 of 838 positions (92.2% of the fund) are not held by XMHQ. Showing the top 30 by weight.
Sector Breakdown
| Sector | VBR | XMHQ |
|---|---|---|
| Industrials | 18.8% | 28.5% |
| Health Care | 8.4% | 19.7% |
| Financials | 18.7% | 15.1% |
| Consumer Discretionary | 10.9% | 9.5% |
| Real Estate | 9.1% | 0.0% |
| Other Sectors | 33.4% | 27.1% |
| Unclassified | 0.5% | 0.0% |
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, 0% of XMHQ).
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% |
| XMHQ | +4.3% | +16.0% | +18.7% | +14.6% | +10.6% | +13.0% | 0.55% |
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 XMHQ →
Shared Holdings(46)
The top 10 shared positions account for 45% of the overlap, led by UTHR, ILMN and AA.
 UTHRUnited Therapeutics Corporation COM | 0.63% | 3.98% | 0.63% |
|---|---|---|---|
 ILMNIllumina Inc COM | 0.43% | 3.55% | 0.43% |
 AAAlcoa Corporation COM | 0.42% | 1.94% | 0.42% |
 CSLCarlisle Companies Incorporated | 0.33% | 2.74% | 0.33% |
 RNRRenaissancere Holdings Ltd. COM USD1 | 0.31% | 1.72% | 0.31% |
 ELANElanco Animal Health Inc COM | 0.29% | 1.44% | 0.29% |
 CCKCrown Holdings Inc COM | 0.28% | 1.41% | 0.28% |
 ACMAECOM | 0.27% | 1.47% | 0.27% |
 DCIDonaldson Company Inc. | 0.24% | 1.30% | 0.24% |
 AFGAmerican Financial Group, Inc. COM | 0.23% | 1.13% | 0.23% |
 GMEGameStop Corp., Class A | 0.22% | 1.24% | 0.22% |
 SEICSEI Investments Company | 0.21% | 1.47% | 0.21% |
 PRIPrimerica, Inc. COM | 0.19% | 1.40% | 0.19% |
 AMAntero Midstream Corporation COM | 0.18% | 0.85% | 0.18% |
 VMIValmont Industries, Inc. COM | 0.18% | 1.27% | 0.18% |
 CRUSCirrus Logic, Inc. COM | 0.18% | 0.98% | 0.18% |
 INGRIngredion Incorporated COM | 0.17% | 1.05% | 0.17% |
 FLRFluor Corporation COM | 0.17% | 1.50% | 0.17% |
 WFRDWeatherford International Plc COM USD0.001 | 0.16% | 0.86% | 0.16% |
 MSAMSA Safety Inc. COM | 0.15% | 0.74% | 0.15% |
 GGenpact Ltd. COM STK USD0.01 | 0.15% | 0.69% | 0.15% |
 MTGMGIC Investment Corporation | 0.14% | 0.71% | 0.14% |
 EVREvercore, Inc., Class A | 0.14% | 1.80% | 0.14% |
 THGThe Hanover Insurance Group, Inc. COM | 0.13% | 0.87% | 0.13% |
 FCNFTI Consulting, Inc. COM | 0.13% | 0.68% | 0.13% |
Frequently Asked Questions
How much do VBR and XMHQ overlap?
VBR and XMHQ overlap by 7.7% of portfolio weight. They share 46 holdings (VBR holds 838 positions and XMHQ holds 80), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VBR and XMHQ?
The two portfolios are 7.7% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of VBR and XMHQ?
The largest positions held by both funds are UTHR, ILMN, AA, CSL and RNR. Together the top 10 shared positions account for 45% of the total overlap.
What does VBR own that XMHQ doesn't?
792 positions (92.2% of VBR) are unique to VBR, led by NRG, ATO and TPR. In the other direction, 34 positions (51.6% of XMHQ) are unique to XMHQ.