BIV vs VTIP: 38% overlap
Vanguard Intermediate-Term Bond ETF and Vanguard Short-Term Inflation-Protected Securities ETF share 38.0% 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 1.6. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
BIV and VTIP hold 2 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BIV | in VTIP | Δ |
|---|---|---|---|
| UST-3-10Y | 55.9% | 37.8% | 18.2% |
| CASH | 0.3% | 0.7% | 0.5% |
Where BIV and VTIP 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 | VTIP | Δ |
|---|---|---|---|
| Treasuries | 55.9% | 99.3% | −43.3pp |
| Corporate — industrial & other | 20.2% | 0.0% | +20.2pp |
| Financials | 14.3% | 0.0% | +14.3pp |
| Utilities | 3.9% | 0.0% | +3.9pp |
| Sovereign | 1.9% | 0.0% | +1.9pp |
| Supranational | 1.8% | 0.0% | +1.8pp |
| Local Authority | 0.8% | 0.0% | +0.8pp |
| Cash and/or Derivatives | 0.3% | 0.7% | −0.5pp |
Δ is BIV minus VTIP, 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
43.8% of BIV by weight, held in no part of VTIP.
61.5% of VTIP 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 | VTIP | |
|---|---|---|
| Top 10 holdings | 62.1% | 100.0% |
| Positions held | 854 | 3 |
| 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 BIV and VTIP overlap?
BIV and VTIP overlap 38.0% by portfolio weight — moderate overlap. They share 2 holdings. The figure comes from current issuer holdings files (BIV as of 2026-06-30, VTIP as of 2026-06-30).
How is the overlap between BIV and VTIP 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 VTIP 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 VTIP?
That depends on your goals — we state facts, not advice. At 38.0% overlap, each fund still contributes meaningfully distinct exposure.
What does BIV own that VTIP doesn't?
BIV holds 854 positions and VTIP holds 3; 852 of BIV's positions don't appear in VTIP at all, and they are 43.8% of BIV by weight.
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Related comparisons
Sources: issuer holdings files, BIV as of 2026-06-30, VTIP as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.