BND vs TLH: Holdings Overlap
BNDVanguard Total Bond Market Index Fund
Vanguard · 17360 holdings · $161.4B · as of 2026-03-31
TLHiShares 10-20 Year Treasury Bond ETF
iShares · 66 holdings · $10.9B · as of 2026-05-31
Holdings snapshots are 61 days apart (BND: 2026-03-31, TLH: 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 TLH?
Vanguard Total Bond Market Index Fund (BND, by Vanguard) holds 17360 positions; iShares 10-20 Year Treasury Bond ETF (TLH, by iShares) holds 66. They have 65 holdings in common, and by portfolio weight the two funds are 4.7% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.7%Sum of the smaller weight of each shared holding
- Shared Holdings
- 65BND holds 17360 · TLH holds 66
- Weight in Shared Holdings
- BND 7%·TLH 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 BND
17295 of 17360 positions (91.9% of the fund) are not held by TLH. Showing the top 30 by weight.
- U.S. Treasury Notes0.48%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.41%
- U.S. Treasury Notes0.41%
- U.S. Treasury Notes0.40%
Only in TLH
1 of 66 positions (0.0% of the fund) are not held by BND.
- U.S. Treasury Bonds0.02%
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% |
| TLH | -1.2% | -2.0% | +0.1% | +1.6% | -5.0% | -1.2% | 4.59% |
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 TLH →
Shared Holdings(65)
The top 10 shared positions account for 30% of the overlap, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds.
| U.S. Treasury Bonds | 0.16% | 1.62% | 0.16% |
|---|---|---|---|
| U.S. Treasury Bonds | 0.15% | 3.07% | 0.15% |
| U.S. Treasury Bonds | 0.15% | 3.44% | 0.15% |
| U.S. Treasury Bonds | 0.15% | 3.42% | 0.15% |
| U.S. Treasury Bonds | 0.14% | 3.71% | 0.14% |
| U.S. Treasury Bonds | 0.13% | 2.51% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 2.35% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 3.32% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 3.97% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 2.30% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 2.90% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 5.54% | 0.13% |
| U.S. Treasury Bonds | 0.13% | 3.18% | 0.13% |
| U.S. Treasury Bonds | 0.12% | 3.95% | 0.12% |
| U.S. Treasury Bonds | 0.12% | 2.60% | 0.12% |
| U.S. Treasury Bonds | 0.12% | 1.83% | 0.12% |
| U.S. Treasury Bonds | 0.11% | 3.31% | 0.11% |
| U.S. Treasury Bonds | 0.11% | 2.43% | 0.11% |
| U.S. Treasury Bonds | 0.11% | 1.06% | 0.11% |
| U.S. Treasury Bonds | 0.11% | 3.51% | 0.11% |
| U.S. Treasury Notes | 0.42% | 0.11% | 0.11% |
| U.S. Treasury Bonds | 0.10% | 3.33% | 0.10% |
| U.S. Treasury Notes | 0.18% | 0.10% | 0.10% |
| U.S. Treasury Bonds | 0.09% | 3.26% | 0.09% |
| U.S. Treasury Notes | 0.11% | 0.08% | 0.08% |
Frequently Asked Questions
How much do BND and TLH overlap?
BND and TLH overlap by 4.7% of portfolio weight. They share 65 holdings (BND holds 17360 positions and TLH holds 66), based on each fund's latest SEC-reported holdings.
Is it redundant to own both BND and TLH?
The two portfolios are 4.7% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of BND and TLH?
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 30% of the total overlap.
What does BND own that TLH doesn't?
17295 positions (91.9% 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, 1 positions (0.0% of TLH) are unique to TLH.