ETF Concentration Benchmarks (2026)
This Guardfolio dataset compares observed concentration across 22 US-listed ETFs using licensed full holdings. It reports HHI, effective positions, and Top 1, Top 3, and Top 10 weight without inventing universal healthy-portfolio thresholds.
Use these figures to compare how concentrated the observed funds were on their recorded dates. They are educational reference points, not target allocations, market-wide averages, or personalized advice.
Observed comparison: higher HHI and lower effective positions indicate that more fund weight is concentrated in fewer holdings. This sample includes different objectives, including bonds, sectors, size segments, and international markets, so comparisons need fund context.
All 22 observed funds
| Fund | Holdings | As of | HHI | Effective positions | Top 1 | Top 3 | Top 10 | Coverage |
|---|---|---|---|---|---|---|---|---|
| VGT | 320 | 2026-08-24 | 750.94 | 13.32 | 17.17% | 44.40% | 62.41% | 99.963% |
| XLK | 73 | 2026-08-24 | 585.38 | 17.08 | 14.22% | 36.47% | 60.64% | 99.934% |
| VUG | 147 | 2026-08-24 | 565.32 | 17.69 | 12.82% | 35.03% | 63.66% | 99.926% |
| IWF | 367 | 2026-08-24 | 464.28 | 21.54 | 15.07% | 28.41% | 56.32% | 99.961% |
| QQQ | 104 | 2026-08-24 | 302.91 | 33.01 | 8.32% | 21.34% | 45.93% | 99.986% |
| QQQM | 105 | 2026-08-24 | 301.90 | 33.12 | 8.31% | 21.31% | 45.85% | 100.128% |
| SCHD | 100 | 2026-08-25 | 293.75 | 34.04 | 4.92% | 14.59% | 42.26% | 99.982% |
| VWO | 4,952 | 2026-08-24 | 269.69 | 37.08 | 15.18% | 21.32% | 29.20% | 98.747% |
| VOO | 506 | 2026-08-24 | 210.74 | 47.45 | 7.56% | 19.98% | 37.67% | 99.945% |
| SPY | 504 | 2026-08-24 | 209.48 | 47.74 | 7.88% | 20.20% | 37.21% | 99.897% |
| IVV | 505 | 2026-08-24 | 208.91 | 47.87 | 7.87% | 20.17% | 37.16% | 99.910% |
| FXAIX | 505 | 2026-08-19 | 194.36 | 51.45 | 7.51% | 18.40% | 36.40% | 99.983% |
| VIG | 334 | 2026-08-24 | 175.98 | 56.82 | 4.65% | 13.47% | 33.55% | 99.699% |
| ITOT | 2,429 | 2026-08-24 | 164.82 | 60.67 | 6.98% | 17.90% | 32.99% | 99.910% |
| VTI | 3,485 | 2026-08-24 | 163.21 | 61.27 | 6.41% | 17.49% | 33.27% | 99.908% |
| VYM | 605 | 2026-08-24 | 135.37 | 73.87 | 7.37% | 13.83% | 26.20% | 99.834% |
| DVY | 100 | 2026-08-24 | 119.59 | 83.62 | 2.22% | 6.57% | 19.21% | 99.733% |
| VTV | 309 | 2026-08-24 | 95.43 | 104.79 | 3.51% | 9.96% | 22.54% | 99.778% |
| VXUS | 8,715 | 2026-08-24 | 41.05 | 243.62 | 4.06% | 7.57% | 14.13% | 99.111% |
| VEA | 3,881 | 2026-08-24 | 37.73 | 265.04 | 2.49% | 6.40% | 13.00% | 99.825% |
| IJR | 603 | 2026-08-18 | 26.74 | 374.00 | 1.95% | 3.13% | 6.77% | 101.715% |
| IWM | 1,959 | 2026-08-24 | 11.83 | 845.22 | 0.35% | 1.02% | 3.18% | 99.846% |
| BND | 17,200 | 2026-08-24 | 10.99 | 909.66 | 0.48% | 1.31% | 4.14% | 98.429% |
Methodology and provenance
Each fund's retained holdings are normalized to 100%. HHI is the sum of squared percentage weights. Effective positions equals 10,000 divided by HHI.
- Each of the 22 funds passed at least 20 non-cash holdings, 95% to 105% provider-weight reconciliation, and at least 97% retained coverage.
- Rows are consolidated by ISIN, then CUSIP, then ticker. Fund weights are normalized to 100% before metrics are calculated.
- HHI is the sum of squared percentage weights. Effective positions equals 10,000 divided by HHI.
- Source content hash:
fa6fd10daad260ace10bcbf4100605c34e22b2ac30cac45d578b938736fdb48c.
Limitations
Holdings change, provider identifiers may require reconciliation, and funds in this sample follow different mandates. These figures do not measure correlation, volatility, liquidity, taxes, valuation, or expected return. Do not treat the most or least concentrated fund as automatically better.
Continue the analysis
Compare two ETFs using the same full-holdings source · Run a multi-ETF look-through · Read the portfolio metrics methodology
ETF concentration deep dives
Open a fund-level page for Top 10 holdings and HHI detail: