BNDX vs SCHD: 0% overlap
Vanguard Total International Bond ETF and Schwab U.S. Dividend Equity ETF share 0.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 30 days apart — SCHD as of 2026-05-31, 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
BNDX and SCHD hold 8 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BNDX | in SCHD | Δ |
|---|---|---|---|
| CASH | 1.3% | 0.0% | 1.3% |
| VZ | 0.0% | 3.7% | 3.6% |
| SLB | 0.0% | 2.1% | 2.0% |
| BX | 0.0% | 2.2% | 2.2% |
| AMGN | 0.0% | 3.5% | 3.5% |
| ABT | 0.0% | 3.0% | 3.0% |
| CMCSA | 0.0% | 2.2% | 2.2% |
| MRK | 0.0% | 3.9% | 3.9% |
Where BNDX and SCHD 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 | SCHD | Δ |
|---|---|---|---|
| Unclassified | 88.4% | 2.9% | +85.5pp |
| Consumer Staples | 0.1% | 18.4% | −18.3pp |
| Health Care | 0.2% | 18.3% | −18.2pp |
| Energy | 0.7% | 14.6% | −13.9pp |
| Information Technology | 0.1% | 12.9% | −12.8pp |
| Industrials | 0.0% | 10.8% | −10.8pp |
| Financials | 2.0% | 8.8% | −6.8pp |
| Consumer Discretionary | 0.2% | 6.8% | −6.6pp |
Δ is BNDX minus SCHD, 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
98.6% of BNDX by weight, held in no part of SCHD.
79.3% of SCHD 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 | SCHD | |
|---|---|---|
| Top 10 holdings | 24.4% | 43.6% |
| Positions held | 3,115 | 101 |
| Cost per $10,000 held, per year | $7 | $6 |
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 SCHD overlap?
BNDX and SCHD overlap 0.1% by portfolio weight — largely distinct portfolios. They share 8 holdings. The figure comes from current issuer holdings files (BNDX as of 2026-06-30, SCHD as of 2026-05-31).
How is the overlap between BNDX and SCHD 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 SCHD 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 SCHD?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does BNDX own that SCHD doesn't?
BNDX holds 3,115 positions and SCHD holds 101; 3,107 of BNDX's positions don't appear in SCHD at all, and they are 98.6% of BNDX by weight.
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Related comparisons
Sources: issuer holdings files, BNDX as of 2026-06-30, SCHD as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.