VGSH vs BND: Holdings Overlap
VGSHVanguard Short-term Treasury Index Fund
Vanguard · 91 holdings · $30.2B · as of 2026-05-31
BNDVanguard Total Bond Market Index Fund
Vanguard · 17360 holdings · $161.4B · as of 2026-03-31
Holdings snapshots are 61 days apart (VGSH: 2026-05-31, BND: 2026-03-31). 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 VGSH and BND?
Vanguard Short-term Treasury Index Fund (VGSH, by Vanguard) holds 91 positions; Vanguard Total Bond Market Index Fund (BND, by Vanguard) holds 17360. They have 88 holdings in common, and by portfolio weight the two funds are 16.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 16.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 88VGSH holds 91 · BND holds 17360
- Weight in Shared Holdings
- VGSH 96%·BND 17%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 VGSH
3 of 91 positions (3.3% of the fund) are not held by BND.
- U.S. Treasury Notes1.16%
- U.S. Treasury Notes1.10%
- U.S. Treasury Notes0.99%
Only in BND
17272 of 17360 positions (82.2% of the fund) are not held by VGSH. Showing the top 30 by weight.
- 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%
- U.S. Treasury Notes0.39%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VGSH | +0.4% | +1.0% | +2.9% | +4.3% | +1.9% | +1.8% | 3.82% |
| BND | -0.3% | +0.0% | +2.4% | +4.2% | -0.2% | +1.5% | 4.03% |
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 VGSH vs BND →
Shared Holdings(88)
The top 10 shared positions account for 18% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 2.24% | 0.48% | 0.48% |
|---|---|---|---|
| U.S. Treasury Notes | 0.83% | 0.42% | 0.42% |
| U.S. Treasury Notes | 1.11% | 0.31% | 0.31% |
| U.S. Treasury Notes | 1.18% | 0.27% | 0.27% |
| U.S. Treasury Notes | 1.22% | 0.26% | 0.26% |
| U.S. Treasury Notes | 1.40% | 0.24% | 0.24% |
| U.S. Treasury Notes | 1.18% | 0.24% | 0.24% |
| U.S. Treasury Notes | 1.29% | 0.24% | 0.24% |
| U.S. Treasury Notes | 1.15% | 0.23% | 0.23% |
| U.S. Treasury Notes | 1.35% | 0.23% | 0.23% |
| U.S. Treasury Notes | 1.26% | 0.23% | 0.23% |
| U.S. Treasury Notes | 0.82% | 0.22% | 0.22% |
| U.S. Treasury Notes | 1.31% | 0.22% | 0.22% |
| U.S. Treasury Notes | 1.14% | 0.22% | 0.22% |
| U.S. Treasury Notes | 1.20% | 0.22% | 0.22% |
| U.S. Treasury Notes | 1.01% | 0.22% | 0.22% |
| U.S. Treasury Notes | 1.19% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.18% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.18% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.10% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.25% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.25% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.19% | 0.21% | 0.21% |
| U.S. Treasury Notes | 0.94% | 0.21% | 0.21% |
| U.S. Treasury Notes | 1.19% | 0.21% | 0.21% |
Frequently Asked Questions
How much do VGSH and BND overlap?
VGSH and BND overlap by 16.5% of portfolio weight. They share 88 holdings (VGSH holds 91 positions and BND holds 17360), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VGSH and BND?
The two portfolios are 16.5% 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 VGSH and BND?
The largest positions held by both funds are U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. Together the top 10 shared positions account for 18% of the total overlap.
What does VGSH own that BND doesn't?
3 positions (3.3% of VGSH) are unique to VGSH, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 17272 positions (82.2% of BND) are unique to BND.