etf overlap · light overlap
VWCE vs SMEA overlap
13% of VWCE and SMEA is the same money, spread over 379 companies both funds hold.
Holdings as of September 30, 2026 · source: Vanguard (VWCE), iShares (SMEA) · How we measured all 1,431 pairs
- same money
- same companies, extra weight
- only in this fund
The companies you would own twice
What only one of them gives you
AMZNAmazon.com Inc2.27%Where each fund puts its money
VWCE and SMEA: what people ask
How much do VWCE and SMEA overlap?
13% by weight, as of September 30, 2026: light overlap. 379 companies appear in both funds; they make up 13% of VWCE and 99% of SMEA.
Which stocks do VWCE and SMEA both hold?
The largest shared positions are ASML, HSBA, ROP, SHEL and NOVN. Ranked by the smaller of the two weights, which is the part you would own twice.
Is it redundant to hold both VWCE and SMEA?
Out of every €100 split evenly between them, about €13 (half in each fund) buys identical positions. The rest is exposure only one of the two funds gives you: 3,416 names only in VWCE, 6 only in SMEA. Half in each behaves like 187 equally weighted stocks, against 107 for VWCE alone and 104 for SMEA alone. Whether that duplication is a problem depends on the mix you want; this is a description, not advice.
Do VWCE and SMEA track the same index?
No. VWCE (ISIN IE00BK5BQT80) tracks the FTSE All-World index, SMEA (ISIN IE00B4K48X80) the MSCI Europe. As of September 30, 2026, 3,416 companies are only in VWCE (87% of the fund) and 6 only in SMEA (0.3% of it).
Does the VWCE vs SMEA overlap apply to other tickers?
Yes. VWCE also trades as VWRA (London, USD) and VWRP (London, GBP), and VWRL (ISIN IE00B3RBWM25) is its distributing share class. SMEA also trades as IMAE (Euronext Amsterdam, EUR) and EUNK (Xetra, EUR). Each is the same portfolio in another currency, on another exchange or paying its dividends out, so VWRA vs EUNK also overlaps 13%.
How is ETF overlap calculated here?
For every company held by both funds we take the smaller of its two weights and add them up. The weights come from the full holdings files Vanguard and iShares publish, not a top-10 sample, and companies are matched by their ISIN so share classes stay apart. Sector overlap applies the same rule to the issuers' sector labels; "behaves like N equally weighted stocks" is one over the sum of the squared weights.
Weights come from each issuer's published holdings file and are matched company by company on their ISIN. Cash, futures and currency positions are left out. This page describes what the funds hold; it is not investment advice.