IJR vs TLT: 0% overlap
iShares Core S&P Small-Cap ETF and iShares 20+ Year Treasury Bond ETF share 0.0% 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
IJR and TLT hold 1 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IJR | in TLT | Δ |
|---|---|---|---|
| CASH | 2.1% | 0.0% | 2.1% |
Where IJR and TLT 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 | IJR | TLT | Δ |
|---|---|---|---|
| Treasuries | 0.0% | 100.0% | −100.0pp |
| Industrials | 18.5% | 0.0% | +18.5pp |
| Financials | 17.8% | 0.0% | +17.8pp |
| Consumer Discretionary | 13.8% | 0.0% | +13.8pp |
| Information Technology | 12.1% | 0.0% | +12.1pp |
| Health Care | 10.5% | 0.0% | +10.5pp |
| Real Estate | 6.2% | 0.0% | +6.2pp |
| Energy | 5.3% | 0.0% | +5.3pp |
Δ is IJR minus TLT, 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
97.8% of IJR by weight, held in no part of TLT.
100.0% of TLT by weight, held in no part of IJR.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IJR | TLT | |
|---|---|---|
| Top 10 holdings | 6.6% | 100.0% |
| Positions held | 603 | 3 |
| Cost per $10,000 held, per year | $6 | $15 |
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 IJR and TLT overlap?
IJR and TLT overlap 0.0% by portfolio weight — largely distinct portfolios. They share 1 holdings. The figure comes from current issuer holdings files (IJR as of 2026-07-23, TLT as of 2026-07-23).
How is the overlap between IJR and TLT calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IJR holds a stock at 6% and TLT 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 IJR and TLT?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does IJR own that TLT doesn't?
IJR holds 603 positions and TLT holds 3; 601 of IJR's positions don't appear in TLT at all, and they are 97.8% of IJR by weight.
You probably hold more than two funds
This page compares IJR and TLT. 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 IJR vs TLT
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, IJR as of 2026-07-23, TLT as of 2026-07-23. Weights are fractions of each fund. Diagnostics, not advice.