VMBS vs AGG: Holdings Overlap
VMBSVanguard Mortgage-backed Securities Index Fund
Vanguard · 5112 holdings · $15.6B · as of 2026-05-31
AGGiShares Core U.S. Aggregate Bond ETF
iShares · 13266 holdings · $137.7B · as of 2026-05-31
How similar are VMBS and AGG?
Vanguard Mortgage-backed Securities Index Fund (VMBS, by Vanguard) holds 5112 positions; iShares Core U.S. Aggregate Bond ETF (AGG, by iShares) holds 13266. They have 572 holdings in common, and by portfolio weight the two funds are 7.5% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 7.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 572VMBS holds 5112 · AGG holds 13266
- Weight in Shared Holdings
- VMBS 25%·AGG 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 VMBS
4540 of 5112 positions (74.7% of the fund) are not held by AGG. Showing the top 30 by weight.
- G2SF 5.5 7/260.36%
- Ginnie Mae II Pool0.31%
- FN CC27620.29%
- FR SD41550.27%
- FR RQ01180.27%
- FR RQ00940.24%
Only in AGG
12694 of 13266 positions (89.6% of the fund) are not held by VMBS. Showing the top 30 by weight.
- U.S. Treasury Notes0.42%
- U.S. Treasury Notes0.41%
- U.S. Treasury Notes0.41%
- U.S. Treasury Notes0.40%
- U.S. Treasury Notes0.40%
- U.S. Treasury Notes0.39%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VMBS | -0.1% | +0.6% | +4.1% | +4.9% | +0.4% | +1.3% | 4.23% |
| AGG | -0.3% | +0.0% | +2.4% | +4.2% | -0.2% | +1.4% | 4.04% |
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 VMBS vs AGG →
Shared Holdings(572)
The top 10 shared positions account for 18% of the overlap, led by Uniform Mortgage-Backed Security, TBA, Uniform Mortgage-Backed Securities and Uniform Mortgage-Backed Security, TBA.
| Uniform Mortgage-Backed Security, TBA | 0.20% | 0.20% | 0.20% |
|---|---|---|---|
| Uniform Mortgage-Backed Securities | 0.15% | 0.22% | 0.15% |
| Uniform Mortgage-Backed Security, TBA | 0.14% | 0.16% | 0.14% |
| Ginnie Mae | 0.29% | 0.14% | 0.14% |
| Uniform Mortgage-Backed Security, TBA | 0.15% | 0.14% | 0.14% |
| Government National Mortgage Association | 0.16% | 0.12% | 0.12% |
| Ginnie Mae | 0.15% | 0.12% | 0.12% |
| Government National Mortgage Association | 0.12% | 0.12% | 0.12% |
| Government National Mortgage Association | 0.12% | 0.11% | 0.11% |
| Government National Mortgage Association | 0.32% | 0.11% | 0.11% |
| Government National Mortgage Association | 0.10% | 0.11% | 0.10% |
| Uniform Mortgage-Backed Security, TBA | 0.10% | 0.10% | 0.10% |
| Government National Mortgage Association | 0.12% | 0.09% | 0.09% |
| Uniform Mortgage-Backed Security, TBA | 0.09% | 0.13% | 0.09% |
| Government National Mortgage Association | 0.08% | 0.11% | 0.08% |
| Government National Mortgage Association | 0.08% | 0.14% | 0.08% |
| Government National Mortgage Association | 0.08% | 0.09% | 0.08% |
| Uniform Mortgage-Backed Securities | 0.07% | 0.14% | 0.07% |
| Uniform Mortgage-Backed Securities | 0.07% | 0.08% | 0.07% |
| Uniform Mortgage-Backed Securities | 0.12% | 0.07% | 0.07% |
| Government National Mortgage Association | 0.07% | 0.07% | 0.07% |
| Government National Mortgage Association | 0.20% | 0.06% | 0.06% |
| Uniform Mortgage-Backed Security, TBA | 0.06% | 0.07% | 0.06% |
| Ginnie Mae II Pool | 0.13% | 0.06% | 0.06% |
| Government National Mortgage Association | 0.10% | 0.06% | 0.06% |
Showing the top 250 of 572 shared holdings by overlap weight.
Frequently Asked Questions
How much do VMBS and AGG overlap?
VMBS and AGG overlap by 7.5% of portfolio weight. They share 572 holdings (VMBS holds 5112 positions and AGG holds 13266), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VMBS and AGG?
The two portfolios are 7.5% 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 VMBS and AGG?
The largest positions held by both funds are Uniform Mortgage-Backed Security, TBA, Uniform Mortgage-Backed Securities, Uniform Mortgage-Backed Security, TBA, Ginnie Mae and Uniform Mortgage-Backed Security, TBA. Together the top 10 shared positions account for 18% of the total overlap.
What does VMBS own that AGG doesn't?
4540 positions (74.7% of VMBS) are unique to VMBS, led by G2SF 5.5 7/26, Ginnie Mae II Pool and FN CC2762. In the other direction, 12694 positions (89.6% of AGG) are unique to AGG.