VNQI vs VWO: Holdings Overlap
VNQIVanguard Global Ex-u.s. Real Estate Index Fund
Vanguard · 710 holdings · $3.6B · as of 2026-04-30
VWOVanguard Emerging Markets Stock Index Fund
Vanguard · 5015 holdings · $124.9B · as of 2026-04-30
How similar are VNQI and VWO?
Vanguard Global Ex-u.s. Real Estate Index Fund (VNQI, by Vanguard) holds 710 positions; Vanguard Emerging Markets Stock Index Fund (VWO, by Vanguard) holds 5015. They have 229 holdings in common, and by portfolio weight the two funds are 2.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 2.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 229VNQI holds 710 · VWO holds 5015
- Weight in Shared Holdings
- VNQI 20%·VWO 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 VNQI
481 of 710 positions (78.6% of the fund) are not held by VWO. Showing the top 30 by weight.
Only in VWO
4786 of 5015 positions (97.2% of the fund) are not held by VNQI. Showing the top 30 by weight.
Sector Breakdown
| Sector | VNQI | VWO |
|---|---|---|
| Real Estate | 64.7% | 0.7% |
| Information Technology | 0.0% | 23.7% |
| Financials | 0.0% | 12.6% |
| Consumer Discretionary | 0.0% | 7.0% |
| Communication Services | 0.0% | 5.7% |
| Other Sectors | 0.0% | 12.2% |
| Unclassified | 34.3% | 37.4% |
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. “Unclassified” is weight we could not classify (35% of VNQI, 38% of VWO).
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% |
| VWO | +2.7% | +12.6% | +22.3% | +16.6% | +6.6% | +7.9% | 2.29% |
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 VWO →
Shared Holdings(229)
The top 10 shared positions account for 32% of the overlap, led by EMAARAED, 1109 and ALDARAED.
 EMAARAEDEmaar Properties PJSC | 1.81% | 0.17% | 0.17% |
|---|---|---|---|
 1109China Resources Land Ltd | 1.09% | 0.10% | 0.10% |
 ALDARAEDAldar Properties PJSC | 0.72% | 0.07% | 0.07% |
 688China Overseas Land & Investment Ltd | 0.58% | 0.06% | 0.06% |
 NRPNEPI Rockcastle NV | 0.48% | 0.04% | 0.04% |
 FIBRAPLPrologis Property Mexico SA de CV | 0.45% | 0.04% | 0.04% |
 FUNO11Fibra Uno Administracion SA de CV | 0.43% | 0.04% | 0.04% |
 CPN-FCENTRAL PATTAN-F | 0.23% | 0.04% | 0.04% |
 DLFUDLF Ltd | 0.36% | 0.03% | 0.03% |
 MALLPLAZPlaza SA | 0.35% | 0.03% | 0.03% |
 EMBASSYEmbassy Office Parks REIT | 0.35% | 0.03% | 0.03% |
 1209China Resources Mixc Lifestyle Services Ltd | 0.32% | 0.03% | 0.03% |
 PHNXPhoenix Mills Ltd/The | 0.32% | 0.03% | 0.03% |
 EMAA1AEDEmaar Development PJSC | 0.30% | 0.03% | 0.03% |
 SMPHPHPSM Prime Holdings Inc | 0.31% | 0.03% | 0.03% |
 GRTGrowthpoint Properties Ltd | 0.30% | 0.03% | 0.03% |
 MASARUmm Al Qura for Development & Construction Co | 0.19% | 0.03% | 0.03% |
 VESTFCorp Inmobiliaria Vesta SAB de CV | 0.28% | 0.03% | 0.03% |
 PARAUCOParque Arauco SA | 0.27% | 0.03% | 0.03% |
 GPLGodrej Properties Ltd | 0.26% | 0.02% | 0.02% |
 LODHALodha Developers Ltd | 0.27% | 0.02% | 0.02% |
 FMTY14FIBRA MTY | 0.21% | 0.02% | 0.02% |
 RDFRedefine Properties Ltd. NPV (POST CONVERSION) | 0.25% | 0.02% | 0.02% |
 ALARKSARDar Al Arkan Real Estate Development Co | 0.23% | 0.02% | 0.02% |
 PEPLPrestige Estates Projects Ltd | 0.23% | 0.02% | 0.02% |
Frequently Asked Questions
How much do VNQI and VWO overlap?
VNQI and VWO overlap by 2.0% of portfolio weight. They share 229 holdings (VNQI holds 710 positions and VWO holds 5015), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VNQI and VWO?
The two portfolios are 2.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of VNQI and VWO?
The largest positions held by both funds are EMAARAED, 1109, ALDARAED, 688 and NRP. Together the top 10 shared positions account for 32% of the total overlap.
What does VNQI own that VWO doesn't?
481 positions (78.6% of VNQI) are unique to VNQI, led by GMG, 8802 and 8801. In the other direction, 4786 positions (97.2% of VWO) are unique to VWO.