AVDV vs BNDX: 1% overlap
Avantis International Small Cap Value ETF and Vanguard Total International Bond ETF share 1.2% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 4 months apart — AVDV as of 2026-02-28, the rest through 2026-06-30. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
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
AVDV and BNDX hold 4 of the same securities. The ten contributing most to the overlap figure:
| Holding | in AVDV | in BNDX | Δ |
|---|---|---|---|
| CASH | 1.2% | 1.3% | 0.2% |
| KEL | 0.1% | 0.0% | 0.0% |
| ATH | 0.2% | 0.0% | 0.2% |
| CAF | 0.1% | 0.0% | 0.1% |
Where AVDV and BNDX 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 | AVDV | BNDX | Δ |
|---|---|---|---|
| Unclassified | 20.7% | 88.4% | −67.7pp |
| Industrials | 18.9% | 0.0% | +18.9pp |
| Materials | 15.6% | 0.1% | +15.5pp |
| Financials | 14.1% | 2.0% | +12.1pp |
| Consumer Discretionary | 10.6% | 0.2% | +10.4pp |
| Information Technology | 4.8% | 0.1% | +4.7pp |
| Energy | 5.1% | 0.7% | +4.5pp |
| Consumer Staples | 2.8% | 0.1% | +2.7pp |
Δ is AVDV minus BNDX, 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
99.5% of AVDV by weight, held in no part of BNDX.
98.6% of BNDX by weight, held in no part of AVDV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| AVDV | BNDX | |
|---|---|---|
| Top 10 holdings | 9.0% | 24.4% |
| Positions held | 1,646 | 3,115 |
| Cost per $10,000 held, per year | $36 | $7 |
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 AVDV and BNDX overlap?
AVDV and BNDX overlap 1.2% by portfolio weight — largely distinct portfolios. They share 4 holdings. The figure comes from current issuer holdings files (AVDV as of 2026-02-28, BNDX as of 2026-06-30).
How is the overlap between AVDV and BNDX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If AVDV holds a stock at 6% and BNDX 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 AVDV and BNDX?
That depends on your goals — we state facts, not advice. At 1.2% overlap, each fund still contributes meaningfully distinct exposure.
What does AVDV own that BNDX doesn't?
AVDV holds 1,646 positions and BNDX holds 3,115; 1,642 of AVDV's positions don't appear in BNDX at all, and they are 99.5% of AVDV by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, AVDV as of 2026-02-28, BNDX as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.