UCON vs VGLT: Holdings Overlap
UCONFirst Trust Smith Unconstrained Bond ETF
First Trust · 504 holdings · $3.3B · as of 2026-05-31
VGLTVanguard Long-term Treasury Index Fund
Vanguard · 97 holdings · $10.4B · as of 2026-05-31
How similar are UCON and VGLT?
First Trust Smith Unconstrained Bond ETF (UCON, by First Trust) holds 504 positions; Vanguard Long-term Treasury Index Fund (VGLT, by Vanguard) holds 97. They have 5 holdings in common, and by portfolio weight the two funds are 4.9% identical. In practical terms the pair is essentially distinct, holding almost none of the same securities.
- Overlap by Weight
- 4.9%Sum of the smaller weight of each shared holding
- Shared Holdings
- 5UCON holds 504 · VGLT holds 97
- Weight in Shared Holdings
- UCON 6%·VGLT 9%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 UCON
499 of 504 positions (92.9% of the fund) are not held by VGLT. Showing the top 30 by weight.
- U.S. Treasury Notes/Bonds2.33%
- U.S. Treasury Notes1.69%
- U.S. Treasury Notes1.18%
- FN BM77550.96%
- Boeing Co. (The)0.81%
- FNR 2024-82 CF0.73%
Only in VGLT
92 of 97 positions (89.0% of the fund) are not held by UCON. Showing the top 30 by weight.
- U.S. Treasury Bonds2.21%
- U.S. Treasury Bonds2.17%
- U.S. Treasury Bonds2.17%
- U.S. Treasury Bonds2.14%
- U.S. Treasury Bonds2.13%
- U.S. Treasury Bonds2.04%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| UCON | -0.1% | +0.7% | +3.7% | +5.5% | +2.7% | — | 4.72% |
| VGLT | -1.5% | -2.3% | -0.6% | +0.5% | -6.7% | -1.7% | 4.76% |
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 UCON vs VGLT →
Shared Holdings(5)
The top 5 shared positions account for 100% of the overlap, led by U.S. Treasury Bonds, U.S. Treasury Bonds and U.S. Treasury Notes/Bonds.
| U.S. Treasury Bonds | 2.12% | 2.22% | 2.12% |
|---|---|---|---|
| U.S. Treasury Bonds | 2.13% | 1.33% | 1.33% |
| U.S. Treasury Notes/Bonds | 1.04% | 2.17% | 1.04% |
| U.S. Treasury Bonds | 0.35% | 1.37% | 0.35% |
| U.S. Treasury Bonds | 0.09% | 2.21% | 0.09% |
Frequently Asked Questions
How much do UCON and VGLT overlap?
UCON and VGLT overlap by 4.9% of portfolio weight. They share 5 holdings (UCON holds 504 positions and VGLT holds 97), based on each fund's latest SEC-reported holdings.
Is it redundant to own both UCON and VGLT?
The two portfolios are 4.9% identical by weight. Owning both is genuine diversification: the funds hold almost none of the same securities.
What are the biggest shared holdings of UCON and VGLT?
The largest positions held by both funds are U.S. Treasury Bonds, U.S. Treasury Bonds, U.S. Treasury Notes/Bonds, U.S. Treasury Bonds and U.S. Treasury Bonds. Together the top 5 shared positions account for 100% of the total overlap.
What does UCON own that VGLT doesn't?
499 positions (92.9% of UCON) are unique to UCON, led by U.S. Treasury Notes/Bonds, U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 92 positions (89.0% of VGLT) are unique to VGLT.