If you're happy with your overall allocation, there's no reason why you can't keep both. The problem with repeat funds is that you end up creating an index by paying 'retail' prices. With A Fidelity index & a Vanguard fund, however, that's not really so much of a problem.However, if you wish to alter your allocation, selling one of those may be a good way to do it. If you don't have any small cap or emerging, that certainly sounds like a sensible plan to me.
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