BNDX vs IWF: 0% overlap
Vanguard Total International Bond ETF and iShares Russell 1000 Growth ETF share 0.3% 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 IWF hold 13 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BNDX | in IWF | Δ |
|---|---|---|---|
| CASH | 1.3% | 0.1% | 1.2% |
| BAC | 0.1% | 0.1% | 0.0% |
| NFLX | 0.0% | 0.9% | 0.9% |
| GE | 0.0% | 1.1% | 1.1% |
| MSFT | 0.0% | 4.4% | 4.4% |
| BX | 0.0% | 0.2% | 0.2% |
| ABBV | 0.0% | 0.1% | 0.1% |
| C | 0.0% | 0.1% | 0.1% |
| DT | 0.0% | 0.0% | 0.0% |
| AMGN | 0.0% | 0.4% | 0.4% |
Where BNDX and IWF 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 | IWF | Δ |
|---|---|---|---|
| Unclassified | 88.4% | 0.0% | +88.4pp |
| Information Technology | 0.1% | 55.0% | −54.9pp |
| Communication Services | 0.1% | 15.7% | −15.6pp |
| Industrials | 0.0% | 8.5% | −8.5pp |
| Consumer Discretionary | 0.2% | 7.5% | −7.2pp |
| Health Care | 0.2% | 5.6% | −5.4pp |
| Financials | 2.0% | 4.7% | −2.7pp |
| Sovereign | 2.3% | 0.0% | +2.3pp |
Δ is BNDX minus IWF, 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
98.5% of BNDX by weight, held in no part of IWF.
84.4% of IWF 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 | IWF | |
|---|---|---|
| Top 10 holdings | 24.4% | 56.1% |
| Positions held | 3,115 | 370 |
| Cost per $10,000 held, per year | $7 | $19 |
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 IWF overlap?
BNDX and IWF overlap 0.3% by portfolio weight — largely distinct portfolios. They share 13 holdings. The figure comes from current issuer holdings files (BNDX as of 2026-06-30, IWF as of 2026-07-23).
How is the overlap between BNDX and IWF 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 IWF 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 IWF?
That depends on your goals — we state facts, not advice. At 0.3% overlap, each fund still contributes meaningfully distinct exposure.
What does BNDX own that IWF doesn't?
BNDX holds 3,115 positions and IWF holds 370; 3,102 of BNDX's positions don't appear in IWF at all, and they are 98.5% of BNDX by weight.
You probably hold more than two funds
This page compares BNDX and IWF. 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 IWF
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, IWF as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.