BND vs GOVT: Holdings Overlap
BNDVanguard Total Bond Market Index Fund
Vanguard · 17360 holdings · $161.4B · as of 2026-03-31
GOVTiShares U.S. Treasury Bond ETF
iShares · 223 holdings · $43.7B · as of 2026-04-30
Holdings snapshots are 30 days apart (BND: 2026-03-31, GOVT: 2026-04-30). 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 GOVT?
Vanguard Total Bond Market Index Fund (BND, by Vanguard) holds 17360 positions; iShares U.S. Treasury Bond ETF (GOVT, by iShares) holds 223. They have 207 holdings in common, and by portfolio weight the two funds are 33.6% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 33.6%Sum of the smaller weight of each shared holding
- Shared Holdings
- 207BND holds 17360 · GOVT holds 223
- Weight in Shared Holdings
- BND 37%·GOVT 97%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
17153 of 17360 positions (62.1% of the fund) are not held by GOVT. Showing the top 30 by weight.
- U.S. Treasury Notes0.27%
- U.S. Treasury Notes0.26%
- U.S. Treasury Notes0.24%
- U.S. Treasury Notes0.24%
- U.S. Treasury Notes0.23%
- U.S. Treasury Notes0.22%
Only in GOVT
16 of 223 positions (2.2% of the fund) are not held by BND.
- U.S. Treasury Bonds1.37%
- U.S. Treasury Notes0.37%
- U.S. Treasury Notes0.25%
- U.S. Treasury Bonds STRIPS0.06%
- U.S. Treasury Bonds STRIPS0.05%
- U.S. Treasury Bonds STRIPS0.04%
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% |
| GOVT | -0.2% | -0.3% | +1.6% | +3.3% | -0.8% | +0.7% | 3.64% |
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 GOVT →
Shared Holdings(207)
The top 10 shared positions account for 12% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 0.48% | 0.62% | 0.48% |
|---|---|---|---|
| U.S. Treasury Notes | 0.42% | 0.84% | 0.42% |
| U.S. Treasury Notes | 0.42% | 0.78% | 0.42% |
| U.S. Treasury Notes | 0.42% | 0.66% | 0.42% |
| U.S. Treasury Notes | 0.41% | 0.44% | 0.41% |
| U.S. Treasury Notes | 0.41% | 0.93% | 0.41% |
| U.S. Treasury Notes | 0.40% | 0.99% | 0.40% |
| U.S. Treasury Notes | 0.39% | 0.82% | 0.39% |
| U.S. Treasury Notes | 0.39% | 0.81% | 0.39% |
| U.S. Treasury Notes | 0.36% | 0.62% | 0.36% |
| U.S. Treasury Notes | 0.36% | 0.48% | 0.36% |
| U.S. Treasury Notes | 0.36% | 0.64% | 0.36% |
| U.S. Treasury Notes | 0.35% | 0.52% | 0.35% |
| U.S. Treasury Notes | 0.35% | 0.94% | 0.35% |
| U.S. Treasury Notes | 0.35% | 5.25% | 0.35% |
| U.S. Treasury Notes | 0.33% | 0.49% | 0.33% |
| U.S. Treasury Notes | 0.32% | 0.82% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.85% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.76% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.77% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.50% | 0.32% |
| U.S. Treasury Notes | 0.32% | 0.59% | 0.32% |
| U.S. Treasury Notes | 0.31% | 0.62% | 0.31% |
| U.S. Treasury Notes | 0.31% | 0.59% | 0.31% |
| U.S. Treasury Notes | 0.29% | 0.46% | 0.29% |
Frequently Asked Questions
How much do BND and GOVT overlap?
BND and GOVT overlap by 33.6% of portfolio weight. They share 207 holdings (BND holds 17360 positions and GOVT holds 223), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BND and GOVT?
The two portfolios are 33.6% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of BND and GOVT?
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 12% of the total overlap.
What does BND own that GOVT doesn't?
17153 positions (62.1% 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, 16 positions (2.2% of GOVT) are unique to GOVT.