HYG vs UCON: Holdings Overlap
HYGiShares iBoxx $ High Yield Corporate Bond ETF
iShares · 1322 holdings · $17.4B · as of 2026-05-31
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
How similar are HYG and UCON?
iShares iBoxx $ High Yield Corporate Bond ETF (HYG, by iShares) holds 1322 positions; First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504. They have 119 holdings in common, and by portfolio weight the two funds are 9.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 9.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 119HYG holds 1322 · UCON holds 504
- Weight in Shared Holdings
- HYG 11%·UCON 24%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 HYG
1203 of 1322 positions (86.4% of the fund) are not held by UCON. Showing the top 30 by weight.
- 1261229 BC Ltd0.54%
- EchoStar Corp0.44%
- Cloud Software Group Inc0.34%
- Cloud Software Group Inc0.33%
- DISH Network Corp0.32%
- SV RNO Property Owner 1 LLC0.30%
Only in UCON
385 of 504 positions (74.8% of the fund) are not held by HYG. 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 |
|---|---|---|---|---|---|---|---|
| HYG | +0.3% | +2.2% | +5.2% | +8.3% | +3.8% | +4.7% | 5.89% |
| 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 HYG vs UCON →
Shared Holdings(119)
The top 10 shared positions account for 22% of the overlap, led by Nexstar Media, Inc., Neptune Bidco US, Inc. and APLD ComputeCo LLC.
| Nexstar Media, Inc. | 0.30% | 0.31% | 0.30% |
|---|---|---|---|
| Neptune Bidco US, Inc. | 0.22% | 0.25% | 0.22% |
| APLD ComputeCo LLC | 0.22% | 0.25% | 0.22% |
| Meridian Arc Holdco LLC | 0.26% | 0.21% | 0.21% |
| TransDigm, Inc. | 0.20% | 0.25% | 0.20% |
| CoreWeave, Inc. | 0.18% | 0.25% | 0.18% |
| Black Pearl Compute LLC | 0.18% | 0.23% | 0.18% |
| Directv Financing LLC / Directv Financing Co-Obligor Inc | 0.18% | 0.27% | 0.18% |
| CVS Health Corp. | 0.18% | 0.49% | 0.18% |
| APLD ComputeCo 2 LLC | 0.18% | 0.18% | 0.18% |
| Jane Street Group / JSG Finance Inc. | 0.17% | 0.24% | 0.17% |
| PetSmart LLC / PetSmart Finance Corp | 0.17% | 0.48% | 0.17% |
| Herc Holdings, Inc. | 0.16% | 0.19% | 0.16% |
| CoreWeave, Inc. | 0.15% | 0.17% | 0.15% |
| PR RNO Property Owner 1, LLC | 0.26% | 0.15% | 0.15% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 0.14% | 0.24% | 0.14% |
| Univision Communications, Inc. | 0.14% | 0.16% | 0.14% |
| Shift4 Payments LLC / Shift4 Payments Finance Sub Inc | 0.14% | 0.43% | 0.14% |
| CCO Holdings LLC / CCO Holdings Capital Corp | 0.21% | 0.14% | 0.14% |
| Neptune Bidco US, Inc. | 0.14% | 0.21% | 0.14% |
| Nexstar Media, Inc. | 0.13% | 0.39% | 0.13% |
| Fair Isaac Corp. | 0.13% | 0.24% | 0.13% |
| SM Energy Co. | 0.13% | 0.26% | 0.13% |
| Asurion LLC/ Asurion Co-Issuer Inc | 0.28% | 0.12% | 0.12% |
| Jane Street Group / JSG Finance Inc. | 0.12% | 0.67% | 0.12% |
Frequently Asked Questions
How much do HYG and UCON overlap?
HYG and UCON overlap by 9.3% of portfolio weight. They share 119 holdings (HYG holds 1322 positions and UCON holds 504), based on each fund's latest SEC-reported holdings.
Is it redundant to own both HYG and UCON?
The two portfolios are 9.3% 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 HYG and UCON?
The largest positions held by both funds are Nexstar Media, Inc., Neptune Bidco US, Inc., APLD ComputeCo LLC, Meridian Arc Holdco LLC and TransDigm, Inc.. Together the top 10 shared positions account for 22% of the total overlap.
What does HYG own that UCON doesn't?
1203 positions (86.4% of HYG) are unique to HYG, led by 1261229 BC Ltd, EchoStar Corp and Cloud Software Group Inc. In the other direction, 385 positions (74.8% of UCON) are unique to UCON.