TLT vs GOVT: Holdings Overlap
TLTiShares 20+ Year Treasury Bond ETF
iShares · 46 holdings · $41.6B · as of 2026-05-31
GOVTiShares U.S. Treasury Bond ETF
iShares · 223 holdings · $43.7B · as of 2026-04-30
Holdings snapshots are 31 days apart (TLT: 2026-05-31, 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 TLT and GOVT?
iShares 20+ Year Treasury Bond ETF (TLT, by iShares) holds 46 positions; iShares U.S. Treasury Bond ETF (GOVT, by iShares) holds 223. They have 37 holdings in common, and by portfolio weight the two funds are 11.3% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 11.3%Sum of the smaller weight of each shared holding
- Shared Holdings
- 37TLT holds 46 · GOVT holds 223
- Weight in Shared Holdings
- TLT 91%·GOVT 13%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 TLT
9 of 46 positions (6.9% of the fund) are not held by GOVT.
- U.S. Treasury Bonds2.63%
- U.S. Treasury Bonds2.35%
- U.S. Treasury Bonds0.94%
- U.S. Treasury Bonds0.54%
- U.S. Treasury Bonds0.42%
- U.S. Treasury Bonds0.00%
Only in GOVT
186 of 223 positions (86.2% of the fund) are not held by TLT. Showing the top 30 by weight.
- U.S. Treasury Notes5.25%
- U.S. Treasury Notes2.92%
- U.S. Treasury Notes2.60%
- U.S. Treasury Notes2.06%
- U.S. Treasury Notes1.59%
- U.S. Treasury Bonds1.49%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| TLT | -1.7% | -2.5% | -1.3% | -0.6% | -7.8% | -2.3% | 4.72% |
| 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 TLT vs GOVT →
Shared Holdings(37)
The top 10 shared positions account for 59% of the overlap, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds.
| U.S. Treasury Bonds | 2.73% | 1.55% | 1.55% |
|---|---|---|---|
| U.S. Treasury Bonds | 1.02% | 1.51% | 1.02% |
| U.S. Treasury Bonds | 3.62% | 0.61% | 0.61% |
| U.S. Treasury Bonds | 3.80% | 0.60% | 0.60% |
| U.S. Treasury Bonds | 4.40% | 0.55% | 0.55% |
| U.S. Treasury Bonds | 3.94% | 0.53% | 0.53% |
| U.S. Treasury Bonds | 2.90% | 0.47% | 0.47% |
| U.S. Treasury Bonds | 4.46% | 0.44% | 0.44% |
| U.S. Treasury Bonds | 3.46% | 0.44% | 0.44% |
| U.S. Treasury Bonds | 0.39% | 0.90% | 0.39% |
| U.S. Treasury Bonds | 2.54% | 0.39% | 0.39% |
| U.S. Treasury Bonds | 1.33% | 0.37% | 0.37% |
| U.S. Treasury Bonds | 3.86% | 0.36% | 0.36% |
| U.S. Treasury Bonds | 2.11% | 0.35% | 0.35% |
| U.S. Treasury Bonds | 4.03% | 0.35% | 0.35% |
| U.S. Treasury Bonds | 1.06% | 0.32% | 0.32% |
| U.S. Treasury Bonds | 4.15% | 0.31% | 0.31% |
| U.S. Treasury Bonds | 4.58% | 0.27% | 0.27% |
| U.S. Treasury Bonds | 1.09% | 0.24% | 0.24% |
| U.S. Treasury Bonds | 2.97% | 0.24% | 0.24% |
| U.S. Treasury Bonds | 4.04% | 0.24% | 0.24% |
| U.S. Treasury Bonds | 3.95% | 0.23% | 0.23% |
| U.S. Treasury Bonds | 4.50% | 0.20% | 0.20% |
| U.S. Treasury Bonds | 2.42% | 0.17% | 0.17% |
| U.S. Treasury Bonds | 1.78% | 0.15% | 0.15% |
Frequently Asked Questions
How much do TLT and GOVT overlap?
TLT and GOVT overlap by 11.3% of portfolio weight. They share 37 holdings (TLT holds 46 positions and GOVT holds 223), based on each fund's latest SEC-reported holdings.
Is it redundant to own both TLT and GOVT?
The two portfolios are 11.3% 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 TLT and GOVT?
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 59% of the total overlap.
What does TLT own that GOVT doesn't?
9 positions (6.9% of TLT) are unique to TLT, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds. In the other direction, 186 positions (86.2% of GOVT) are unique to GOVT.