FEP vs AVSD overlap

FEP and AVSD overlap 10.3% by weight, across 114 shared holdings.

FEPAVSD

Pick 2 to 4 ETFs.

10.3%

overlap by weight, across 114 shared holdings

FEP53.1% of the fund is in shared holdings, of 201

AVSD10.7% of the fund is in shared holdings, of 2,114

Top shared holdings

Holding	FEP	AVSD	Overlap
SOC Generale SAGLE	0.39%	0.48%	0.39%
Saint GobainSGO	0.71%	0.37%	0.37%
Siemens Energy aENR	0.55%	0.35%	0.35%
Bayer AG-REGBAYN	0.58%	0.33%	0.33%
Koninklijke AHOLAD	0.55%	0.31%	0.31%
SSE PLCSSE	0.30%	0.32%	0.30%
OrangeORA	0.29%	0.39%	0.29%
DHL GroupDHL	0.37%	0.26%	0.26%
MichelinML	0.73%	0.24%	0.24%
Vestas Wind SYSTVWS	0.76%	0.23%	0.23%
Tesco PLCTSCO	0.46%	0.21%	0.21%
3I Group PLCIII	0.81%	0.20%	0.20%
ASM Intl NVASM	0.49%	0.20%	0.20%
Prysmian SpaPRY	1.16%	0.19%	0.19%
E.on SEEOAN	0.30%	0.18%	0.18%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: FEP, SEC Form N-PORT, June 30, 2026; AVSD, SEC Form N-PORT, May 31, 2026.

institutions report holding both, of 216 holding any

FEP32.2% of its 13F dollars, 13.1% of its 137 holders

AVSD12.4% of its 13F dollars, 18.6% of its 97 holders

Largest institutions holding both

Firm	FEP	AVSD
Morgan Stanley	$50.5M	$238K
LPL Financial LLC	$31.5M	$5.5M
Envestnet Asset Management Inc.	$17.0M	$2.6M
FMR LLC	$42K	$14.1M
Commonwealth Equity Services, LLC	$2.8M	$6.0M
Osaic Holdings, Inc.	$4.7M	$847K
HighTower Advisors, LLC	$309K	$4.5M
Susquehanna International Group, LLP	$205K	$4.4M
Citadel Advisors LLC	$2.7M	$801K
Fiduciary Financial Advisors	$3K	$3.3M
Steward Partners Investment Advisory, LLC	$2.6M	$3K
NewEdge Advisors, LLC	$75K	$2.4M
Bank of New York Mellon Corp	$1.6M	$633K
Kestra Advisory Services, LLC	$973K	$453K
Farther Finance Advisors, LLC	$1.1M	$41K

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: FEP institutional holders, AVSD institutional holders.

Frequently asked questions

How much do FEP and AVSD overlap?

10.3% by weight, with 114 holdings in common, using holdings for FEP as of June 30, 2026 and AVSD as of May 31, 2026. The largest shared position is GLE.

Do institutions hold both FEP and AVSD?

18 Form 13F filers report positions in both, out of 216 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.