BNDX vs VBIAX: 3% overlap
Vanguard Total International Bond ETF and Vanguard Balanced Index Admiral share 2.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 3 months apart — VBIAX as of 2026-03-31, 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 VBIAX hold 131 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BNDX | in VBIAX | Δ |
|---|---|---|---|
| CASH | 1.3% | 1.8% | 0.5% |
| 023135 | 0.1% | 0.1% | 0.0% |
| 92343V | 0.1% | 0.1% | 0.0% |
| 91087B | 0.1% | 0.1% | 0.0% |
| 00206R | 0.1% | 0.1% | 0.0% |
| 02079K | 0.1% | 0.1% | 0.1% |
| 459200 | 0.1% | 0.0% | 0.0% |
| MCD | 0.0% | 0.2% | 0.2% |
| 87264A | 0.0% | 0.1% | 0.1% |
| 478160 | 0.0% | 0.0% | 0.0% |
Where BNDX and VBIAX 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 | VBIAX | Δ |
|---|---|---|---|
| Unclassified | 88.4% | 55.1% | +33.3pp |
| Treasuries | 0.0% | 19.1% | −19.1pp |
| MBS Pass-Through | 0.0% | 8.1% | −8.1pp |
| Corporate — industrial & other | 2.0% | 5.8% | −3.8pp |
| Sovereign | 2.3% | 0.5% | +1.9pp |
| Financials | 2.0% | 3.6% | −1.6pp |
| Health Care | 0.2% | 1.2% | −1.0pp |
| Utilities | 0.2% | 1.2% | −1.0pp |
Δ is BNDX minus VBIAX, 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
93.9% of BNDX by weight, held in no part of VBIAX.
95.5% of VBIAX 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 | VBIAX | |
|---|---|---|
| Top 10 holdings | 24.4% | 45.2% |
| Positions held | 3,115 | 5,119 |
| Cost per $10,000 held, per year | $7 | $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 BNDX and VBIAX overlap?
BNDX and VBIAX overlap 2.8% by portfolio weight — largely distinct portfolios. They share 131 holdings. The figure comes from current issuer holdings files (BNDX as of 2026-06-30, VBIAX as of 2026-03-31).
How is the overlap between BNDX and VBIAX 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 VBIAX 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 VBIAX?
That depends on your goals — we state facts, not advice. At 2.8% overlap, each fund still contributes meaningfully distinct exposure.
What does BNDX own that VBIAX doesn't?
BNDX holds 3,115 positions and VBIAX holds 5,119; 2,984 of BNDX's positions don't appear in VBIAX at all, and they are 93.9% of BNDX by weight.
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Related comparisons
Sources: issuer holdings files, BNDX as of 2026-06-30, VBIAX as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.