BNDX vs VCIT: 2% overlap
Vanguard Total International Bond ETF and Vanguard Intermediate-Term Corporate Bond ETF share 1.6% 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 VCIT hold 95 of the same securities. The ten contributing most to the overlap figure:
| Holding | in BNDX | in VCIT | Δ |
|---|---|---|---|
| 02079K | 0.1% | 0.6% | 0.5% |
| 92343V | 0.1% | 1.0% | 0.9% |
| 023135 | 0.1% | 1.0% | 0.9% |
| CASH | 1.3% | 0.1% | 1.3% |
| 00206R | 0.1% | 0.9% | 0.8% |
| 459200 | 0.1% | 0.3% | 0.2% |
| 756109 | 0.0% | 0.3% | 0.2% |
| 87264A | 0.0% | 0.7% | 0.6% |
| 13645R | 0.0% | 0.2% | 0.1% |
| 478160 | 0.0% | 0.2% | 0.2% |
Where BNDX and VCIT 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 | VCIT | Δ |
|---|---|---|---|
| Unclassified | 88.4% | 0.4% | +88.1pp |
| Corporate — industrial & other | 2.0% | 52.7% | −50.7pp |
| Financials | 2.0% | 36.8% | −34.8pp |
| Utilities | 0.2% | 10.0% | −9.8pp |
| Sovereign | 2.3% | 0.0% | +2.3pp |
| Cash and/or Derivatives | 1.4% | 0.1% | +1.3pp |
| Supranational | 0.8% | 0.0% | +0.8pp |
| Local Authority | 0.7% | 0.0% | +0.7pp |
Δ is BNDX minus VCIT, 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
97.0% of BNDX by weight, held in no part of VCIT.
78.0% of VCIT 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 | VCIT | |
|---|---|---|
| Top 10 holdings | 24.4% | 16.6% |
| Positions held | 3,115 | 824 |
| 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 VCIT overlap?
BNDX and VCIT overlap 1.6% by portfolio weight — largely distinct portfolios. They share 95 holdings. The figure comes from current issuer holdings files (BNDX as of 2026-06-30, VCIT as of 2026-06-30).
How is the overlap between BNDX and VCIT 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 VCIT 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 VCIT?
That depends on your goals — we state facts, not advice. At 1.6% overlap, each fund still contributes meaningfully distinct exposure.
What does BNDX own that VCIT doesn't?
BNDX holds 3,115 positions and VCIT holds 824; 3,020 of BNDX's positions don't appear in VCIT at all, and they are 97.0% of BNDX by weight.
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Related comparisons
Sources: issuer holdings files, BNDX as of 2026-06-30, VCIT as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.