XEQT vs VEQT: ETF Overlap

iShares Core Equity ETF Portfolio vs Vanguard All-Equity ETF Portfolio — shared top holdings, sector duplication, and what makes each fund different.

Data as of October 20, 2026

Very high overlap

XEQT.TO and VEQT.TO share 9 of their 10 biggest holdings

Shared top holdings

NVIDIA: 3.4% of XEQT.TO, 3.1% of VEQT.TO
Apple: 3% of XEQT.TO, 2.8% of VEQT.TO
Microsoft: 2.3% of XEQT.TO, 2.3% of VEQT.TO
Royal Bank of Canada: 2% of XEQT.TO, 2.4% of VEQT.TO
Amazon: 1.5% of XEQT.TO, 1.5% of VEQT.TO
The Toronto-Dominion Bank: 1.4% of XEQT.TO, 1.7% of VEQT.TO
Shopify Inc Registered Shs -A- Subord Vtg: 1.2% of XEQT.TO, 1.5% of VEQT.TO
Alphabet: 1.2% of XEQT.TO, 1.2% of VEQT.TO
Broadcom: 1% of XEQT.TO, 1.1% of VEQT.TO

Only in XEQT.TO's top 10: Alphabet 1%
Only in VEQT.TO's top 10: Taiwan Semiconductor Manufacturing 1%

Yearly fee on $10,000

XEQT.TO: $20 a year, expense ratio 0.2%
VEQT.TO: $22 a year, expense ratio 0.22%

Where they differ

Tech
Financials
Communication
Consumer
Health
Other

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What's different between XEQT and VEQT?

The largest XEQT positions missing from VEQT's disclosed top holdings are GOOG. In the other direction, VEQT's largest positions not in XEQT's top list are 2330.TW. Disclosed lists cover 17.9% of XEQT and 18.6% of VEQT; the sector table below compares the funds on complete data.

What does this overlap mean?

97.8% sector overlap is very high. These funds are close substitutes — owning both mostly duplicates one exposure instead of diversifying it. That isn't automatically wrong (fees, share classes or account types can justify holding both), but don't count them as two different bets.

Sector breakdown: XEQT.TO vs VEQT.TO

Sector	XEQT.TO	VEQT.TO	Overlap
Technology	23.2%	22.9%	22.9%
Financial Services	21.1%	22.5%	21.1%
Industrials	11.7%	11.4%	11.4%
Energy	7.1%	7.9%	7.1%
Materials	7.7%	7.1%	7.1%
Consumer Discretionary	7.5%	7.5%	7.5%
Health Care	7%	6.3%	6.3%
Communication Services	5.8%	5.6%	5.6%
Consumer Staples	4.3%	4.2%	4.2%
Utilities	2.6%	2.5%	2.5%
Real Estate	2.1%	2.1%	2.1%

How we calculate it

Holdings overlap sums min(weight in fund A, weight in fund B) across positions that appear in both funds' disclosed top-holdings lists — public data discloses only each fund's largest positions, so this number is a lower bound on true full-portfolio overlap. Sector overlap applies the same min() logic to the funds' complete sector allocations, which cover ~100% of each fund, making it the more complete signal of duplication.

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Data & methodology disclaimer

This tool is for education, not investment advice. Holdings and sector data come from public market-data feeds, reflect each fund's most recently disclosed top positions, and can lag the fund's actual portfolio. Overlap computed from disclosed top holdings is a lower bound. Always verify against the fund provider's official holdings file before making decisions.

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