TLT vs TRRIX: 0% overlap
iShares 20+ Year Treasury Bond ETF and T. Rowe Price Retirement Balanced share 0.0% 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 5 months apart — TRRIX as of 2026-02-28, the rest through 2026-07-23. 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
TLT and TRRIX hold 0 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TLT | in TRRIX | Δ |
|---|
Where TLT and TRRIX 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 | TLT | TRRIX | Δ |
|---|---|---|---|
| Treasuries | 100.0% | 0.0% | +100.0pp |
| Unclassified | 0.0% | 100.0% | −100.0pp |
| Cash & Other | -0.0% | 0.0% | −0.0pp |
| Cash and/or Derivatives | 0.0% | 0.0% | +0.0pp |
Δ is TLT minus TRRIX, 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
100.0% of TLT by weight, held in no part of TRRIX.
100.0% of TRRIX by weight, held in no part of TLT.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TLT | TRRIX | |
|---|---|---|
| Top 10 holdings | 100.0% | 71.7% |
| Positions held | 3 | 26 |
| Cost per $10,000 held, per year | $15 | $51 |
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 TLT and TRRIX overlap?
TLT and TRRIX overlap 0.0% by portfolio weight — largely distinct portfolios. They share 0 holdings. The figure comes from current issuer holdings files (TLT as of 2026-07-23, TRRIX as of 2026-02-28).
How is the overlap between TLT and TRRIX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TLT holds a stock at 6% and TRRIX 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 TLT and TRRIX?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does TLT own that TRRIX doesn't?
TLT holds 3 positions and TRRIX holds 26; 2 of TLT's positions don't appear in TRRIX at all, and they are 100.0% of TLT by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, TLT as of 2026-07-23, TRRIX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.