AGG vs VB: 2% overlap
iShares Core U.S. Aggregate Bond ETF and Vanguard Small-Cap ETF share 1.7% 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 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
AGG and VB hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AGG | in VB | Δ |
|---|---|---|---|
| CASH | 2.7% | 1.7% | 1.0% |
Where AGG and VB 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 | VB | Δ |
|---|---|---|---|
| Treasuries | 46.5% | 0.0% | +46.5pp |
| MBS Pass-Through | 24.1% | 0.0% | +24.1pp |
| Industrials | 0.0% | 21.0% | −21.0pp |
| Information Technology | 0.0% | 16.1% | −16.1pp |
| Corporate — industrial & other | 14.3% | 0.0% | +14.3pp |
| Health Care | 0.0% | 11.9% | −11.9pp |
| Consumer Discretionary | 0.0% | 9.9% | −9.9pp |
| Real Estate | 0.0% | 7.1% | −7.1pp |
Δ is AGG minus VB, 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
99.4% of AGG by weight, held in no part of VB.
98.3% of VB 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 | VB | |
|---|---|---|
| Top 10 holdings | 75.3% | 5.6% |
| Positions held | 1,864 | 1,308 |
| Cost per $10,000 held, per year | $3 | $3 |
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 VB overlap?
AGG and VB overlap 1.7% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (AGG as of 2026-07-23, VB as of 2026-06-30).
How is the overlap between AGG and VB 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 VB 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 VB?
That depends on your goals — we state facts, not advice. At 1.7% overlap, each fund still contributes meaningfully distinct exposure.
What does AGG own that VB doesn't?
AGG holds 1,864 positions and VB holds 1,308; 1,862 of AGG's positions don't appear in VB at all, and they are 99.4% of AGG by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, AGG as of 2026-07-23, VB as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.