AGG vs TSPF: 102% overlap
iShares Core U.S. Aggregate Bond ETF and TSP F Fund — shown via aggregate-bond proxy share 102.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AGG and TSPF hold 1,863 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AGG | in TSPF | Δ |
|---|---|---|---|
| AGENCY-MBS | 24.1% | 24.1% | 0.0% |
| UST-3-10Y | 21.0% | 21.0% | 0.0% |
| UST-0-3Y | 16.1% | 16.1% | 0.0% |
| UST-10Y+ | 9.3% | 9.3% | 0.0% |
| CASH | 2.7% | 2.7% | 0.0% |
| 46647P | 0.5% | 0.5% | 0.0% |
| 06051G | 0.5% | 0.5% | 0.0% |
| 38141G | 0.3% | 0.3% | 0.0% |
| 68389X | 0.3% | 0.3% | 0.0% |
| 023135 | 0.3% | 0.3% | 0.0% |
Where AGG and TSPF differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | AGG | TSPF | Δ |
|---|---|---|---|
| Corporate — industrial & other | 14.3% | 14.3% | +0.0pp |
| Local Authority | 0.4% | 0.4% | +0.0pp |
| Financials | 8.0% | 8.0% | +0.0pp |
| CMBS | 0.7% | 0.7% | +0.0pp |
| Agency | 0.4% | 0.4% | +0.0pp |
| Utilities | 2.5% | 2.5% | +0.0pp |
| Sovereign | 1.1% | 1.1% | +0.0pp |
| ABS | 0.4% | 0.4% | +0.0pp |
Δ is AGG minus TSPF, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
0.0% of AGG by weight, held in no part of TSPF.
0.0% of TSPF by weight, held in no part of AGG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AGG | TSPF | |
|---|---|---|
| Top 10 holdings | 75.3% | 75.3% |
| Positions held | 1,864 | 1,864 |
| Cost per $10,000 held, per year | $3 | $5 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do AGG and TSPF overlap?
AGG and TSPF overlap 102.1% by portfolio weight — they are effectively the same fund. They share 1,863 holdings. The figure comes from current issuer holdings files (AGG as of 2026-07-23, TSPF as of 2026-07-23).
How is the overlap between AGG and TSPF calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AGG holds a stock at 6% and TSPF holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both AGG and TSPF?
That depends on your goals — we state facts, not advice. At 102.1% overlap, most of what one fund holds, the other holds too. Expense ratios: AGG 0.03% versus TSPF 0.05%.
What does AGG own that TSPF doesn't?
AGG holds 1,864 positions and TSPF holds 1,864; 0 of AGG's positions don't appear in TSPF at all, and they are 0.0% of AGG by weight.
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Related comparisons
Sources: issuer holdings files, AGG as of 2026-07-23, TSPF as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.