BND vs PZA: Holdings Overlap
BNDVanguard Total Bond Market Index Fund
Vanguard · 17360 holdings · $161.4B · as of 2026-03-31
PZAInvesco National AMT-Free Municipal Bond ETF
Invesco · 6664 holdings · $4.2B · as of 2026-05-31
Holdings snapshots are 61 days apart (BND: 2026-03-31, PZA: 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 PZA?
Vanguard Total Bond Market Index Fund (BND, by Vanguard) holds 17360 positions; Invesco National AMT-Free Municipal Bond ETF (PZA, by Invesco) holds 6664. They have 0 holdings in common, and by portfolio weight the two funds are 0.0% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 0.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 0BND holds 17360 · PZA holds 6664
- Weight in Shared Holdings
- BND 0%·PZA 0%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
17360 of 17360 positions (98.7% of the fund) are not held by PZA. Showing the top 30 by weight.
- U.S. Treasury Notes0.48%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.41%
- U.S. Treasury Notes0.41%
Only in PZA
6664 of 6664 positions (95.8% of the fund) are not held by BND. Showing the top 30 by weight.
- California (State of) Health Facilities Financing Authority (Kaiser Permanente), Subseries 2017 A-2, RB0.13%
- New York (State of) Dormitory Authority, Series 2024 A, Ref. RB0.12%
- New York (State of) Dormitory Authority, Series 2020 D, Ref. RB0.11%
- Salt River Project Agricultural Improvement & Power District, Series 2025 C, RB0.10%
- Texas Water Development Board, Series 2025, RB0.10%
- Regents of the University of California Medical Center, Series 2022 P, RB0.10%
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% |
| PZA | -1.4% | +1.7% | +7.9% | +3.2% | -0.3% | +1.7% | 3.74% |
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 PZA →
Shared Holdings(0)
These two funds have no holdings in common.
Frequently Asked Questions
How much do BND and PZA overlap?
BND and PZA overlap by 0.0% of portfolio weight. They share 0 holdings (BND holds 17360 positions and PZA holds 6664), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BND and PZA?
The two portfolios are 0.0% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What does BND own that PZA doesn't?
17360 positions (98.7% 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, 6664 positions (95.8% of PZA) are unique to PZA.