BIV vs FBND: Holdings Overlap
BIVVanguard Intermediate-term Bond Index Fund
Vanguard · 2340 holdings · $28.9B · as of 2026-03-31
Fidelity · 4503 holdings · $27.3B · as of 2026-05-31
Holdings snapshots are 61 days apart (BIV: 2026-03-31, FBND: 2026-05-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are BIV and FBND?
Vanguard Intermediate-term Bond Index Fund (BIV, by Vanguard) holds 2340 positions; Fidelity Total Bond ETF (FBND, by Fidelity) holds 4503. They have 181 holdings in common, and by portfolio weight the two funds are 21.4% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 21.4%Sum of the smaller weight of each shared holding
- Shared Holdings
- 181BIV holds 2340 · FBND holds 4503
- Weight in Shared Holdings
- BIV 48%·FBND 30%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in BIV
2159 of 2340 positions (50.6% of the fund) are not held by FBND. Showing the top 30 by weight.
- U.S. Treasury Notes2.20%
- U.S. Treasury Notes1.77%
- U.S. Treasury Notes1.75%
- U.S. Treasury Notes1.61%
- U.S. Treasury Notes1.55%
- U.S. Treasury Notes0.85%
Only in FBND
4322 of 4503 positions (75.3% of the fund) are not held by BIV. Showing the top 30 by weight.
- U.S. Treasury Bonds1.53%
- U.S. Treasury Bonds1.26%
- Uniform Mortgage-Backed Security, TBA1.19%
- Ginnie Mae1.14%
- U.S. Treasury Bonds1.12%
- U.S. Treasury Bonds1.04%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| BIV | -0.2% | -0.3% | +2.0% | +4.6% | -0.1% | +1.7% | 4.31% |
| FBND | -0.2% | +0.3% | +2.8% | +4.9% | +0.5% | +2.3% | 4.74% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in BIV vs FBND →
Shared Holdings(181)
The top 10 shared positions account for 51% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 1.99% | 2.17% | 1.99% |
|---|---|---|---|
| U.S. Treasury Notes | 2.06% | 1.81% | 1.81% |
| U.S. Treasury Notes | 1.15% | 2.34% | 1.15% |
| U.S. Treasury Notes | 1.20% | 1.03% | 1.03% |
| U.S. Treasury Notes | 2.03% | 1.02% | 1.02% |
| U.S. Treasury Notes | 1.95% | 0.93% | 0.93% |
| U.S. Treasury Notes | 0.92% | 2.21% | 0.92% |
| U.S. Treasury Notes | 2.06% | 0.87% | 0.87% |
| U.S. Treasury Notes | 0.69% | 1.49% | 0.69% |
| U.S. Treasury Notes | 1.72% | 0.59% | 0.59% |
| U.S. Treasury Notes | 0.57% | 1.18% | 0.57% |
| U.S. Treasury Notes | 0.56% | 0.69% | 0.56% |
| U.S. Treasury Notes | 1.67% | 0.54% | 0.54% |
| U.S. Treasury Notes | 1.40% | 0.53% | 0.53% |
| U.S. Treasury Notes | 0.88% | 0.53% | 0.53% |
| U.S. Treasury Notes | 0.68% | 0.50% | 0.50% |
| U.S. Treasury Notes | 2.19% | 0.48% | 0.48% |
| U.S. Treasury Notes | 0.81% | 0.47% | 0.47% |
| U.S. Treasury Notes | 2.18% | 0.47% | 0.47% |
| U.S. Treasury Notes | 1.25% | 0.42% | 0.42% |
| U.S. Treasury Notes | 0.72% | 0.41% | 0.41% |
| U.S. Treasury Notes | 1.88% | 0.35% | 0.35% |
| U.S. Treasury Notes | 0.76% | 0.34% | 0.34% |
| U.S. Treasury Notes | 1.68% | 0.32% | 0.32% |
| U.S. Treasury Notes | 0.86% | 0.30% | 0.30% |
Frequently Asked Questions
How much do BIV and FBND overlap?
BIV and FBND overlap by 21.4% of portfolio weight. They share 181 holdings (BIV holds 2340 positions and FBND holds 4503), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BIV and FBND?
The two portfolios are 21.4% identical by weight. Owning both is not redundant. Most of each portfolio is distinct, so the funds can serve different roles.
What are the biggest shared holdings of BIV and FBND?
The largest positions held by both funds are U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. Together the top 10 shared positions account for 51% of the total overlap.
What does BIV own that FBND doesn't?
2159 positions (50.6% of BIV) are unique to BIV, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 4322 positions (75.3% of FBND) are unique to FBND.