VMBS vs SCHZ: Holdings Overlap
VMBSVanguard Mortgage-backed Securities Index Fund
Vanguard · 5112 holdings · $15.6B · as of 2026-05-31
SCHZSchwab U.S. Aggregate Bond ETF
Schwab · 12081 holdings · $10.5B · as of 2026-03-31
Holdings snapshots are 61 days apart (VMBS: 2026-05-31, SCHZ: 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 VMBS and SCHZ?
Vanguard Mortgage-backed Securities Index Fund (VMBS, by Vanguard) holds 5112 positions; Schwab U.S. Aggregate Bond ETF (SCHZ, by Schwab) holds 12081. They have 942 holdings in common, and by portfolio weight the two funds are 11.0% identical. In practical terms the pair is lightly overlapping, with most of each portfolio distinct.
- Overlap by Weight
- 11.0%Sum of the smaller weight of each shared holding
- Shared Holdings
- 942VMBS holds 5112 · SCHZ holds 12081
- Weight in Shared Holdings
- VMBS 34%·SCHZ 12%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
4170 of 5112 positions (65.1% of the fund) are not held by SCHZ. Showing the top 30 by weight.
- Uniform Mortgage-Backed Security, TBA0.52%
- G2SF 5.5 7/260.36%
- FN CC27620.29%
- Ginnie Mae0.29%
- FR SD41550.27%
- FR RQ01180.27%
Only in SCHZ
11139 of 12081 positions (86.6% of the fund) are not held by VMBS. Showing the top 30 by weight.
- U.S. Treasury Notes0.44%
- U.S. Treasury Notes0.39%
- U.S. Treasury Notes0.38%
- U.S. Treasury Notes0.38%
- U.S. Treasury Notes0.38%
- U.S. Treasury Notes0.38%
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% |
| SCHZ | -0.2% | +0.1% | +2.5% | +4.2% | -0.2% | +1.4% | 4.20% |
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 SCHZ →
Shared Holdings(942)
The top 10 shared positions account for 9% of the overlap, led by Freddie Mac Pool, Uniform Mortgage-Backed Securities and Freddie Mac Pool.
| Freddie Mac Pool | 0.23% | 0.12% | 0.12% |
|---|---|---|---|
| Uniform Mortgage-Backed Securities | 0.26% | 0.11% | 0.11% |
| Freddie Mac Pool | 0.20% | 0.10% | 0.10% |
| Freddie Mac Pool | 0.15% | 0.10% | 0.10% |
| Government National Mortgage Association | 0.10% | 0.09% | 0.09% |
| Freddie Mac Pool | 0.21% | 0.09% | 0.09% |
| Freddie Mac Pool | 0.20% | 0.09% | 0.09% |
| Uniform Mortgage-Backed Securities | 0.15% | 0.08% | 0.08% |
| Uniform Mortgage-Backed Securities | 0.23% | 0.08% | 0.08% |
| Freddie Mac Pool | 0.14% | 0.08% | 0.08% |
| Fannie Mae Pool | 0.10% | 0.08% | 0.08% |
| Uniform Mortgage-Backed Securities | 0.16% | 0.08% | 0.08% |
| Freddie Mac Pool | 0.18% | 0.07% | 0.07% |
| Fannie Mae Pool | 0.07% | 0.08% | 0.07% |
| Uniform Mortgage-Backed Securities | 0.07% | 0.11% | 0.07% |
| Freddie Mac Pool | 0.10% | 0.07% | 0.07% |
| Ginnie Mae II Pool | 0.14% | 0.07% | 0.07% |
| Fannie Mae Pool | 0.08% | 0.07% | 0.07% |
| Fannie Mae Pool | 0.11% | 0.07% | 0.07% |
| Fannie Mae Pool | 0.17% | 0.07% | 0.07% |
| Freddie Mac Pool | 0.15% | 0.06% | 0.06% |
| Uniform Mortgage-Backed Securities | 0.07% | 0.06% | 0.06% |
| Government National Mortgage Association | 0.13% | 0.06% | 0.06% |
| Government National Mortgage Association | 0.20% | 0.06% | 0.06% |
| Fannie Mae Pool | 0.07% | 0.06% | 0.06% |
Showing the top 250 of 942 shared holdings by overlap weight.
Frequently Asked Questions
How much do VMBS and SCHZ overlap?
VMBS and SCHZ overlap by 11.0% of portfolio weight. They share 942 holdings (VMBS holds 5112 positions and SCHZ holds 12081), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VMBS and SCHZ?
The two portfolios are 11.0% 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 SCHZ?
The largest positions held by both funds are Freddie Mac Pool, Uniform Mortgage-Backed Securities, Freddie Mac Pool, Freddie Mac Pool and Government National Mortgage Association. Together the top 10 shared positions account for 9% of the total overlap.
What does VMBS own that SCHZ doesn't?
4170 positions (65.1% of VMBS) are unique to VMBS, led by Uniform Mortgage-Backed Security, TBA, G2SF 5.5 7/26 and FN CC2762. In the other direction, 11139 positions (86.6% of SCHZ) are unique to SCHZ.