BNDX vs ITOT: 1% overlap
Vanguard Total International Bond ETF and iShares Core S&P Total U.S. Stock Market ETF share 0.9% 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
BNDX and ITOT hold 47 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BNDX | in ITOT | Δ |
|---|---|---|---|
| CASH | 1.3% | 0.2% | 1.1% |
| BAC | 0.1% | 0.6% | 0.5% |
| MS | 0.1% | 0.4% | 0.3% |
| JPM | 0.1% | 1.3% | 1.3% |
| GS | 0.0% | 0.4% | 0.4% |
| Q | 0.0% | 0.0% | 0.0% |
| MCD | 0.0% | 0.3% | 0.2% |
| CRH | 0.0% | 0.1% | 0.1% |
| MET | 0.0% | 0.1% | 0.0% |
| DLR | 0.0% | 0.1% | 0.1% |
Where BNDX and ITOT 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 | BNDX | ITOT | Δ |
|---|---|---|---|
| Unclassified | 88.4% | 0.0% | +88.4pp |
| Information Technology | 0.1% | 35.2% | −35.1pp |
| Financials | 2.0% | 12.7% | −10.7pp |
| Industrials | 0.0% | 10.1% | −10.1pp |
| Health Care | 0.2% | 9.7% | −9.6pp |
| Communication Services | 0.1% | 8.7% | −8.6pp |
| Consumer Discretionary | 0.2% | 8.8% | −8.6pp |
| Consumer Staples | 0.1% | 4.4% | −4.3pp |
Δ is BNDX minus ITOT, 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
97.6% of BNDX by weight, held in no part of ITOT.
79.2% of ITOT by weight, held in no part of BNDX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| BNDX | ITOT | |
|---|---|---|
| Top 10 holdings | 24.4% | 32.7% |
| Positions held | 3,115 | 2,440 |
| Cost per $10,000 held, per year | $7 | $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 BNDX and ITOT overlap?
BNDX and ITOT overlap 0.9% by portfolio weight — largely distinct portfolios. They share 47 holdings. The figure comes from current issuer holdings files (BNDX as of 2026-06-30, ITOT as of 2026-07-23).
How is the overlap between BNDX and ITOT calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If BNDX holds a stock at 6% and ITOT 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 BNDX and ITOT?
That depends on your goals — we state facts, not advice. At 0.9% overlap, each fund still contributes meaningfully distinct exposure.
What does BNDX own that ITOT doesn't?
BNDX holds 3,115 positions and ITOT holds 2,440; 3,068 of BNDX's positions don't appear in ITOT at all, and they are 97.6% of BNDX by weight.
You probably hold more than two funds
This page compares BNDX and ITOT. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch BNDX vs ITOT
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, BNDX as of 2026-06-30, ITOT as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.