HYG vs FBND overlap

HYG and FBND overlap 3.2% by weight, across 476 shared holdings.

HYGFBND

Pick 2 to 4 ETFs.

3.2%

overlap by weight, across 476 shared holdings

HYG41.6% of the fund is in shared holdings, of 1,317

FBND3.2% of the fund is in shared holdings, of 4,467

Top shared holdings

Holding	HYG	FBND	Overlap
Celanese US HLDSCE	0.09%	0.08%	0.08%
MPT OPER Partnership LP/Corp. 5% 10/15/2027MPW	0.11%	0.03%	0.03%
Asurion LLC/CoASUCOR	0.28%	0.03%	0.03%
PR RNO PropertyTRACTD	0.26%	0.03%	0.03%
Coreweave Inc.CRWV	0.18%	0.02%	0.02%
APLD ComputAPLD	0.22%	0.02%	0.02%
PG&E Corp.PCG	0.09%	0.02%	0.02%
1261229 BC Ltd.BHCCN	0.54%	0.02%	0.02%
Altice France	0.16%	0.02%	0.02%
Whirlpool Corp.WHR	0.05%	0.02%	0.02%
Meridian ARC HOLMERIDI	0.26%	0.02%	0.02%
Tallgrass NRGTEP	0.06%	0.02%	0.02%
Edged ComputeEDGCOM	0.11%	0.02%	0.02%
Core ScientificCORZ	0.12%	0.02%	0.02%
Cloud Sftwr GRPTIBX	0.34%	0.02%	0.02%

Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: HYG, SEC Form N-PORT, May 31, 2026; FBND, SEC Form N-PORT, May 31, 2026.

299

institutions report holding both, of 1,478 holding any

HYG44.8% of its 13F dollars, 30.3% of its 988 holders

FBND71.3% of its 13F dollars, 37.9% of its 789 holders

Largest institutions holding both

Firm	HYG	FBND
Northwestern Mutual Wealth Management Co	$15.4M	$4.6B
Morgan Stanley	$1.6B	$1.7B
Bank of America Corp.	$1.4B	$716.0M
BlackRock, Inc.	$1.4B	$33
JPMorgan Chase & Co	$508.1M	$638.6M
LPL Financial LLC	$262.5M	$593.4M
Envestnet Asset Management Inc.	$418.3M	$366.6M
FMR LLC	$63.4M	$696.3M
Royal Bank of Canada	$498.7M	$200.0M
Citigroup Inc.	$657.1M	$227
UBS Group AG	$288.9M	$307.1M
Assetmark, Inc.	$552.5M	$1.2M
Raymond James Financial Inc.	$70.4M	$410.2M
Cetera Investment Advisers	$127.4M	$331.9M
Modern Wealth Management, LLC	$204K	$368.9M

This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.

Who owns them: HYG institutional holders, FBND institutional holders.

Frequently asked questions

How much do HYG and FBND overlap?

3.2% by weight, with 476 holdings in common, using holdings for HYG as of May 31, 2026 and FBND as of May 31, 2026. The largest shared position is CE.

Do institutions hold both HYG and FBND?

299 Form 13F filers report positions in both, out of 1,478 that report either one.

How is overlap by weight worked out?

For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.