BIV vs IEFA: 0% overlap
Vanguard Intermediate-Term Bond ETF and iShares Core MSCI EAFE ETF share 0.0% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 27 days apart — BIV as of 2026-06-30, the rest through 2026-07-27. 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
BIV and IEFA hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BIV | in IEFA | Δ |
|---|---|---|---|
| CASH | 0.3% | 0.0% | 0.2% |
Where BIV and IEFA 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 | BIV | IEFA | Δ |
|---|---|---|---|
| Treasuries | 55.9% | 0.0% | +55.9pp |
| Corporate — industrial & other | 20.2% | 0.0% | +20.2pp |
| Industrials | 0.0% | 19.6% | −19.6pp |
| Information Technology | 0.0% | 11.5% | −11.5pp |
| Financials | 14.3% | 24.5% | −10.2pp |
| Consumer Discretionary | 0.0% | 8.9% | −8.9pp |
| Health Care | 0.0% | 7.7% | −7.7pp |
| Consumer Staples | 0.0% | 6.8% | −6.8pp |
Δ is BIV minus IEFA, 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
99.7% of BIV by weight, held in no part of IEFA.
99.5% of IEFA by weight, held in no part of BIV.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| BIV | IEFA | |
|---|---|---|
| Top 10 holdings | 62.1% | 12.3% |
| Positions held | 854 | 2,567 |
| Cost per $10,000 held, per year | $3 | $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 BIV and IEFA overlap?
BIV and IEFA overlap 0.0% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (BIV as of 2026-06-30, IEFA as of 2026-07-27).
How is the overlap between BIV and IEFA calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If BIV holds a stock at 6% and IEFA 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 BIV and IEFA?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does BIV own that IEFA doesn't?
BIV holds 854 positions and IEFA holds 2,567; 853 of BIV's positions don't appear in IEFA at all, and they are 99.7% of BIV by weight.
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Related comparisons
Sources: issuer holdings files, BIV as of 2026-06-30, IEFA as of 2026-07-27. Weights are fractions of each fund. Diagnostics, not advice.