BLV vs TLT: Holdings Overlap
BLVVanguard Long-term Bond Index Fund
Vanguard · 3013 holdings · $5.8B · as of 2026-03-31
TLTiShares 20+ Year Treasury Bond ETF
iShares · 46 holdings · $41.6B · as of 2026-05-31
Holdings snapshots are 61 days apart (BLV: 2026-03-31, TLT: 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 BLV and TLT?
Vanguard Long-term Bond Index Fund (BLV, by Vanguard) holds 3013 positions; iShares 20+ Year Treasury Bond ETF (TLT, by iShares) holds 46. They have 45 holdings in common, and by portfolio weight the two funds are 28.2% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 28.2%Sum of the smaller weight of each shared holding
- Shared Holdings
- 45BLV holds 3013 · TLT holds 46
- Weight in Shared Holdings
- BLV 31%·TLT 98%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 BLV
2968 of 3013 positions (67.7% of the fund) are not held by TLT. Showing the top 30 by weight.
- U.S. Treasury Bonds0.93%
- U.S. Treasury Bonds0.87%
- U.S. Treasury Bonds0.86%
- U.S. Treasury Bonds0.81%
- U.S. Treasury Bonds0.80%
- U.S. Treasury Bonds0.77%
Only in TLT
1 of 46 positions (0.5% of the fund) are not held by BLV.
- U.S. Treasury Bonds0.54%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| BLV | -1.5% | -1.9% | +0.2% | +2.5% | -4.7% | +0.3% | 4.94% |
| TLT | -1.7% | -2.5% | -1.3% | -0.6% | -7.8% | -2.3% | 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 BLV vs TLT →
Shared Holdings(45)
The top 10 shared positions account for 40% of the overlap, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds.
| U.S. Treasury Bonds | 1.23% | 4.46% | 1.23% |
|---|---|---|---|
| U.S. Treasury Bonds | 1.21% | 2.90% | 1.21% |
| U.S. Treasury Bonds | 1.18% | 4.50% | 1.18% |
| U.S. Treasury Bonds | 1.18% | 3.46% | 1.18% |
| U.S. Treasury Bonds | 1.18% | 4.40% | 1.18% |
| U.S. Treasury Bonds | 1.14% | 4.03% | 1.14% |
| U.S. Treasury Bonds | 1.13% | 3.94% | 1.13% |
| U.S. Treasury Bonds | 1.10% | 3.80% | 1.10% |
| U.S. Treasury Bonds | 0.98% | 2.54% | 0.98% |
| U.S. Treasury Bonds | 0.97% | 4.58% | 0.97% |
| U.S. Treasury Bonds | 0.93% | 3.62% | 0.93% |
| U.S. Treasury Bonds | 0.82% | 1.01% | 0.82% |
| U.S. Treasury Bonds | 0.80% | 4.15% | 0.80% |
| U.S. Treasury Bonds | 0.79% | 3.86% | 0.79% |
| U.S. Treasury Bonds | 0.79% | 2.97% | 0.79% |
| U.S. Treasury Bonds | 0.77% | 1.03% | 0.77% |
| U.S. Treasury Bonds | 0.73% | 1.33% | 0.73% |
| U.S. Treasury Bonds | 0.71% | 1.09% | 0.71% |
| U.S. Treasury Bonds | 0.70% | 2.73% | 0.70% |
| U.S. Treasury Bonds | 0.66% | 2.81% | 0.66% |
| U.S. Treasury Bonds | 0.65% | 4.04% | 0.65% |
| U.S. Treasury Bonds | 0.64% | 2.35% | 0.64% |
| U.S. Treasury Bonds | 0.61% | 2.42% | 0.61% |
| U.S. Treasury Bonds | 0.60% | 3.95% | 0.60% |
| U.S. Treasury Bonds | 0.60% | 2.73% | 0.60% |
Frequently Asked Questions
How much do BLV and TLT overlap?
BLV and TLT overlap by 28.2% of portfolio weight. They share 45 holdings (BLV holds 3013 positions and TLT holds 46), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BLV and TLT?
The two portfolios are 28.2% 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 BLV and TLT?
The largest positions held by both funds are U.S. Treasury Bonds, U.S. Treasury Bonds, U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds. Together the top 10 shared positions account for 40% of the total overlap.
What does BLV own that TLT doesn't?
2968 positions (67.7% of BLV) are unique to BLV, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds. In the other direction, 1 positions (0.5% of TLT) are unique to TLT.