BIV vs UCON: Holdings Overlap
BIVVanguard Intermediate-term Bond Index Fund
Vanguard · 2340 holdings · $28.9B · as of 2026-03-31
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
Holdings snapshots are 61 days apart (BIV: 2026-03-31, UCON: 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 UCON?
Vanguard Intermediate-term Bond Index Fund (BIV, by Vanguard) holds 2340 positions; First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504. They have 55 holdings in common, and by portfolio weight the two funds are 1.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 55BIV holds 2340 · UCON holds 504
- Weight in Shared Holdings
- BIV 2%·UCON 10%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
2285 of 2340 positions (97.1% of the fund) are not held by UCON. Showing the top 30 by weight.
- U.S. Treasury Notes2.29%
- U.S. Treasury Notes2.20%
- U.S. Treasury Notes2.19%
- U.S. Treasury Notes2.18%
- U.S. Treasury Notes2.06%
- U.S. Treasury Notes2.06%
Only in UCON
449 of 504 positions (88.6% of the fund) are not held by BIV. Showing the top 30 by weight.
- U.S. Treasury Notes/Bonds2.33%
- U.S. Treasury Bonds2.13%
- U.S. Treasury Bonds2.12%
- U.S. Treasury Notes1.69%
- U.S. Treasury Notes1.18%
- U.S. Treasury Notes/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% |
| UCON | -0.1% | +0.7% | +3.7% | +5.5% | +2.7% | — | 4.72% |
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 UCON →
Shared Holdings(55)
The top 10 shared positions account for 43% of the overlap, led by Oracle Corp., WELLS FARGO and CO NEW 5.605%/VAR 04/23/2036 and Wells Fargo & Co..
| Oracle Corp. | 0.11% | 0.14% | 0.11% |
|---|---|---|---|
| WELLS FARGO and CO NEW 5.605%/VAR 04/23/2036 | 0.09% | 0.20% | 0.09% |
| Wells Fargo & Co. | 0.08% | 0.24% | 0.08% |
| Wells Fargo & Co. | 0.08% | 0.16% | 0.08% |
| Boeing Co. (The) | 0.07% | 0.48% | 0.07% |
| Alphabet, Inc. | 0.07% | 0.08% | 0.07% |
| JPMORGAN CHASE and CO 4.946%/VAR 10/22/2035 | 0.07% | 0.09% | 0.07% |
| Alphabet, Inc. | 0.06% | 0.23% | 0.06% |
| Salesforce, Inc. | 0.06% | 0.27% | 0.06% |
| Goldman Sachs Group, Inc. (The) | 0.05% | 0.16% | 0.05% |
| Amazon.com, Inc. | 0.05% | 0.25% | 0.05% |
| RTX Corp. | 0.05% | 0.24% | 0.05% |
| JPMorgan Chase & Co. | 0.05% | 0.10% | 0.05% |
| JPMorgan Chase & Co. | 0.05% | 0.33% | 0.05% |
| Morgan Stanley | 0.04% | 0.24% | 0.04% |
| Kroger Co. (The) | 0.04% | 0.13% | 0.04% |
| Synopsys, Inc. | 0.04% | 0.24% | 0.04% |
| Bank of America Corp. | 0.04% | 0.34% | 0.04% |
| PNC Financial Services Group, Inc. (The) | 0.04% | 0.06% | 0.04% |
| US Bancorp | 0.05% | 0.04% | 0.04% |
| Honeywell Aerospace, Inc. | 0.03% | 0.15% | 0.03% |
| US Bancorp | 0.03% | 0.22% | 0.03% |
| Global Payments, Inc. | 0.03% | 0.11% | 0.03% |
| Visa, Inc. | 0.03% | 0.06% | 0.03% |
| Fiserv, Inc. | 0.03% | 0.22% | 0.03% |
Frequently Asked Questions
How much do BIV and UCON overlap?
BIV and UCON overlap by 1.7% of portfolio weight. They share 55 holdings (BIV holds 2340 positions and UCON holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BIV and UCON?
The two portfolios are 1.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of BIV and UCON?
The largest positions held by both funds are Oracle Corp., WELLS FARGO and CO NEW 5.605%/VAR 04/23/2036, Wells Fargo & Co., Wells Fargo & Co. and Boeing Co. (The). Together the top 10 shared positions account for 43% of the total overlap.
What does BIV own that UCON doesn't?
2285 positions (97.1% 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, 449 positions (88.6% of UCON) are unique to UCON.