Is it counter productive to have two funds that cover the same area? Hello. 

I'm looking to invest in some index funds for the first time. I really like the look and returns of the U.S. Equity Index Fund and the FTE Global All Cap. The all cap covers 56.5% of the American market and the U.S. Equity covers 100%. Is this just counter productive to do or does it not make a ton of difference? And is it all the same stocks in the All Cap as the U.S. Equity? I cant find that info anywhere except on the bottom of the page, but I'd have to scroll through them side by side. Is there a list somewhere?

I'll also probably be investing in an emerging market funds and an asian fund. 

Any advice or recommendations of index funds is really appreciated

Thanks