FSPSX vs FXNAX: 1% overlap
Fidelity International Index and Fidelity U.S. Bond Index share 1.4% 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
FSPSX and FXNAX hold 2 of the same securities. The ten contributing most to the overlap figure:
| Holding | in FSPSX | in FXNAX | Δ |
|---|---|---|---|
| CASH | 1.8% | 1.3% | 0.5% |
| UST | 0.0% | 45.4% | 45.4% |
Where FSPSX and FXNAX 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 | FSPSX | FXNAX | Δ |
|---|---|---|---|
| Unclassified | 98.0% | 9.5% | +88.5pp |
| Treasuries | 0.0% | 45.4% | −45.4pp |
| MBS Pass-Through | 0.0% | 16.5% | −16.5pp |
| Corporate — industrial & other | 0.0% | 14.1% | −14.1pp |
| Financials | 0.1% | 8.6% | −8.5pp |
| Utilities | 0.0% | 2.5% | −2.5pp |
| Sovereign | 0.0% | 1.1% | −1.1pp |
| Cash and/or Derivatives | 1.8% | 1.3% | +0.5pp |
Δ is FSPSX minus FXNAX, 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 FSPSX by weight, held in no part of FXNAX.
54.5% of FXNAX by weight, held in no part of FSPSX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| FSPSX | FXNAX | |
|---|---|---|
| Top 10 holdings | 14.3% | 69.4% |
| Positions held | 701 | 1,266 |
| Cost per $10,000 held, per year | $4 | $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 FSPSX and FXNAX overlap?
FSPSX and FXNAX overlap 1.4% by portfolio weight — largely distinct portfolios. They share 2 holdings. The figure comes from current issuer holdings files (FSPSX as of 2026-02-28, FXNAX as of 2026-02-28).
How is the overlap between FSPSX and FXNAX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If FSPSX holds a stock at 6% and FXNAX 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 FSPSX and FXNAX?
That depends on your goals — we state facts, not advice. At 1.4% overlap, each fund still contributes meaningfully distinct exposure.
What does FSPSX own that FXNAX doesn't?
FSPSX holds 701 positions and FXNAX holds 1,266; 699 of FSPSX's positions don't appear in FXNAX at all, and they are 98.6% of FSPSX by weight.
You probably hold more than two funds
This page compares FSPSX and FXNAX. 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 FSPSX vs FXNAX
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, FSPSX as of 2026-02-28, FXNAX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.