VNQI vs VSS: Holdings Overlap
VNQIVanguard Global Ex-u.s. Real Estate Index Fund
Vanguard · 710 holdings · $3.6B · as of 2026-04-30
VSSVanguard FTSE All-world Ex-us Small-cap Index Fund
Vanguard · 4810 holdings · $11.7B · as of 2026-04-30
How similar are VNQI and VSS?
Vanguard Global Ex-u.s. Real Estate Index Fund (VNQI, by Vanguard) holds 710 positions; Vanguard FTSE All-world Ex-us Small-cap Index Fund (VSS, by Vanguard) holds 4810. They have 311 holdings in common, and by portfolio weight the two funds are 7.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 311VNQI holds 710 · VSS holds 4810
- Weight in Shared Holdings
- VNQI 24%·VSS 7%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 VNQI
399 of 710 positions (74.7% of the fund) are not held by VSS. Showing the top 30 by weight.
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VNQI | +1.6% | +0.8% | +3.4% | +8.5% | -0.7% | +2.2% | 4.66% |
| VSS | +3.4% | +11.3% | +19.8% | +15.6% | +6.0% | +8.0% | 3.14% |
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 VNQI vs VSS →
Shared Holdings(311)
The top 10 shared positions account for 16% of the overlap, led by AED, LMP and BBOX.
 AEDAedifica SA | 0.64% | 0.19% | 0.19% |
|---|---|---|---|
 LMPLondonMetric Property PLC | 0.55% | 0.15% | 0.15% |
 BBOXTritax Big Box REIT PLC | 0.46% | 0.13% | 0.13% |
 REI-URioCan Real Estate Investment Trust | 0.20% | 0.12% | 0.12% |
 CAR-UCanadian Apartment Properties REIT | 0.18% | 0.11% | 0.11% |
 GRT-UGranite Real Estate Investment Trust | 0.18% | 0.11% | 0.11% |
 ALLNAllreal Holding AG | 0.36% | 0.11% | 0.11% |
 FCR-UFirst Capital Real Estate Investment Trust | 0.16% | 0.10% | 0.10% |
 MOBNMobimo Holding AG | 0.32% | 0.09% | 0.09% |
 TEGTAG Immobilien AG | 0.30% | 0.09% | 0.09% |
 PHPPrimary Health Properties PLC | 0.30% | 0.09% | 0.09% |
 CHP-UChoice Properties Real Estate Investment Trust | 0.16% | 0.08% | 0.08% |
 UTGUNITE Group PLC/The | 0.27% | 0.08% | 0.08% |
 DIR-UDream Industrial Real Estate Investment Trust | 0.13% | 0.08% | 0.08% |
 SRU-USmartCentres Real Estate Investment Trust | 0.13% | 0.07% | 0.07% |
 DLNDerwent London PLC | 0.24% | 0.07% | 0.07% |
 SHCShaftesbury Capital PLC | 0.32% | 0.07% | 0.07% |
 FMTY14FIBRA MTY | 0.21% | 0.07% | 0.07% |
 RDFRedefine Properties Ltd. NPV (POST CONVERSION) | 0.25% | 0.07% | 0.07% |
 COLColonial SFL Socimi SA | 0.20% | 0.07% | 0.07% |
 WIHLWihlborgs Fastigheter AB | 0.22% | 0.06% | 0.06% |
 FCTFrasers Centrepoint Trust | 0.23% | 0.06% | 0.06% |
 HMSOHammerson PLC | 0.22% | 0.06% | 0.06% |
 BYGBig Yellow Group PLC | 0.22% | 0.06% | 0.06% |
 BEI-UBoardwalk Real Estate Investment Trust | 0.11% | 0.05% | 0.05% |
Showing the top 250 of 311 shared holdings by overlap weight.
Frequently Asked Questions
How much do VNQI and VSS overlap?
VNQI and VSS overlap by 7.5% of portfolio weight. They share 311 holdings (VNQI holds 710 positions and VSS holds 4810), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VNQI and VSS?
The two portfolios are 7.5% 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 VNQI and VSS?
The largest positions held by both funds are AED, LMP, BBOX, REI-U and CAR-U. Together the top 10 shared positions account for 16% of the total overlap.
What does VNQI own that VSS doesn't?
399 positions (74.7% of VNQI) are unique to VNQI, led by GMG, 8802 and 8801. In the other direction, 4499 positions (91.6% of VSS) are unique to VSS.