BND vs FBND: Holdings Overlap
BNDVanguard Total Bond Market Index Fund
Vanguard · 17360 holdings · $161.4B · as of 2026-03-31
Fidelity · 4503 holdings · $27.3B · as of 2026-05-31
Holdings snapshots are 61 days apart (BND: 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 BND and FBND?
Vanguard Total Bond Market Index Fund (BND, by Vanguard) holds 17360 positions; Fidelity Total Bond ETF (FBND, by Fidelity) holds 4503. They have 703 holdings in common, and by portfolio weight the two funds are 13.7% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 13.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 703BND holds 17360 · FBND holds 4503
- Weight in Shared Holdings
- BND 20%·FBND 55%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 BND
16657 of 17360 positions (79.1% of the fund) are not held by FBND. Showing the top 30 by weight.
- U.S. Treasury Notes0.48%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.35%
- U.S. Treasury Notes0.34%
- U.S. Treasury Notes0.33%
- U.S. Treasury Notes0.32%
Only in FBND
3800 of 4503 positions (50.5% of the fund) are not held by BND. Showing the top 30 by weight.
- Uniform Mortgage-Backed Security, TBA1.19%
- Ginnie Mae1.14%
- U.S. Treasury Notes1.02%
- Ginnie Mae0.89%
- UMBS 30YR 2% 07/01/2056 #TBA0.83%
- GNII II 5.5% 07/01/2056 #TBA0.76%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| BND | -0.3% | +0.0% | +2.4% | +4.2% | -0.2% | +1.5% | 4.03% |
| 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 BND vs FBND →
Shared Holdings(703)
The top 10 shared positions account for 27% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 0.42% | 0.47% | 0.42% |
|---|---|---|---|
| U.S. Treasury Notes | 0.42% | 1.02% | 0.42% |
| U.S. Treasury Notes | 0.41% | 0.87% | 0.41% |
| U.S. Treasury Notes | 0.41% | 1.81% | 0.41% |
| U.S. Treasury Notes | 0.39% | 0.48% | 0.39% |
| U.S. Treasury Notes | 0.39% | 2.17% | 0.39% |
| U.S. Treasury Notes | 0.36% | 0.35% | 0.35% |
| U.S. Treasury Notes | 0.32% | 0.59% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.54% | 0.32% |
| U.S. Treasury Notes | 0.36% | 0.32% | 0.32% |
| U.S. Treasury Bonds | 0.24% | 0.39% | 0.24% |
| U.S. Treasury Notes | 0.24% | 0.93% | 0.24% |
| U.S. Treasury Bonds | 0.23% | 1.53% | 0.23% |
| U.S. Treasury Bonds | 0.22% | 0.82% | 0.22% |
| U.S. Treasury Bonds | 0.22% | 1.04% | 0.22% |
| U.S. Treasury Bonds | 0.21% | 1.26% | 0.21% |
| U.S. Treasury Bonds | 0.21% | 0.75% | 0.21% |
| U.S. Treasury Bonds | 0.20% | 0.47% | 0.20% |
| U.S. Treasury Bonds | 0.19% | 0.83% | 0.19% |
| U.S. Treasury Bonds | 0.19% | 1.12% | 0.19% |
| U.S. Treasury Bonds | 0.18% | 0.60% | 0.18% |
| U.S. Treasury Bonds | 0.18% | 0.84% | 0.18% |
| U.S. Treasury Notes | 0.18% | 2.21% | 0.18% |
| U.S. Treasury Notes | 0.18% | 0.50% | 0.18% |
| U.S. Treasury Notes | 0.17% | 0.27% | 0.17% |
Showing the top 250 of 703 shared holdings by overlap weight.
Frequently Asked Questions
How much do BND and FBND overlap?
BND and FBND overlap by 13.7% of portfolio weight. They share 703 holdings (BND holds 17360 positions and FBND holds 4503), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BND and FBND?
The two portfolios are 13.7% 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 BND 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 27% of the total overlap.
What does BND own that FBND doesn't?
16657 positions (79.1% of BND) are unique to BND, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 3800 positions (50.5% of FBND) are unique to FBND.