FALN vs UCON: Holdings Overlap
FALNiShares Fallen Angels USD Bond ETF
iShares · 161 holdings · $1.6B · as of 2026-04-30
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
Holdings snapshots are 31 days apart (FALN: 2026-04-30, UCON: 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 FALN and UCON?
iShares Fallen Angels USD Bond ETF (FALN, by iShares) holds 161 positions; First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504. They have 7 holdings in common, and by portfolio weight the two funds are 1.1% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 1.1%Sum of the smaller weight of each shared holding
- Shared Holdings
- 7FALN holds 161 · UCON holds 504
- Weight in Shared Holdings
- FALN 4%·UCON 1%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 FALN
154 of 161 positions (93.3% of the fund) are not held by UCON. Showing the top 30 by weight.
- Vodafone Group PLC2.99%
- GFL Environmental Inc2.15%
- Resorts World Las Vegas LLC / RWLV Capital Inc1.84%
- PacifiCorp1.78%
- United Rentals North America Inc1.54%
- Huntsman International LLC1.48%
Only in UCON
497 of 504 positions (97.3% of the fund) are not held by FALN. Showing the top 30 by weight.
- U.S. Treasury Notes/Bonds2.33%
- U.S. Treasury Bonds2.13%
- U.S. Treasury Bonds2.12%
- U.S. Treasury Notes1.69%
- U.S. Treasury Notes1.18%
- U.S. Treasury Notes/Bonds1.04%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| FALN | -0.0% | +2.7% | +6.6% | +8.8% | +3.6% | +6.1% | 6.52% |
| UCON | -0.1% | +0.7% | +3.7% | +5.5% | +2.7% | — | 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 FALN vs UCON →
Shared Holdings(7)
The top 7 shared positions account for 100% of the overlap, led by VF Corp., Paramount Global and VF Corp..
| VF Corp. | 1.21% | 0.49% | 0.49% |
|---|---|---|---|
| Paramount Global | 0.19% | 0.37% | 0.19% |
| VF Corp. | 0.73% | 0.13% | 0.13% |
| Buckeye Partners LP | 0.82% | 0.10% | 0.10% |
| Paramount Global | 0.29% | 0.08% | 0.08% |
| Celanese US Holdings LLC | 0.48% | 0.06% | 0.06% |
| Paramount Global | 0.27% | 0.06% | 0.06% |
Frequently Asked Questions
How much do FALN and UCON overlap?
FALN and UCON overlap by 1.1% of portfolio weight. They share 7 holdings (FALN holds 161 positions and UCON holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both FALN and UCON?
The two portfolios are 1.1% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of FALN and UCON?
The largest positions held by both funds are VF Corp., Paramount Global, VF Corp., Buckeye Partners LP and Paramount Global. Together the top 7 shared positions account for 100% of the total overlap.
What does FALN own that UCON doesn't?
154 positions (93.3% of FALN) are unique to FALN, led by Vodafone Group PLC, GFL Environmental Inc and Resorts World Las Vegas LLC / RWLV Capital Inc. In the other direction, 497 positions (97.3% of UCON) are unique to UCON.