IEF vs GOVT overlap
IEF and GOVT overlap 9.6% by weight, across 15 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (IEF: May 31, 2026, GOVT: July 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | IEF | GOVT | Overlap |
|---|---|---|---|
| US Treasury N/B | 8.78% | 0.99% | 0.99% |
| US Treasury N/B | 6.73% | 0.92% | 0.92% |
| US Treasury N/B | 8.31% | 0.83% | 0.83% |
| US Treasury N/B | 8.73% | 0.82% | 0.82% |
| US Treasury N/BT | 8.71% | 0.80% | 0.80% |
| US Treasury N/B | 8.63% | 0.77% | 0.77% |
| US Treasury N/B | 5.32% | 0.76% | 0.76% |
| US Treasury N/BT | 9.54% | 0.73% | 0.73% |
| US Treasury N/BT | 8.22% | 0.62% | 0.62% |
| US Treasury N/B | 8.53% | 0.61% | 0.61% |
| US Treasury N/B | 5.81% | 0.48% | 0.48% |
| US Treasury N/B | 8.75% | 0.44% | 0.44% |
| US Treasury N/BT | 0.30% | 0.84% | 0.30% |
| US Treasury N/BT | 1.47% | 0.25% | 0.25% |
| US Treasury N/BT | 0.38% | 0.24% | 0.24% |
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: IEF, SEC Form N-PORT, May 31, 2026; GOVT, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | IEF | GOVT |
|---|---|---|
| Fisher Asset Management, LLC | $15.2B | $354K |
| Bank of America Corp. | $2.0B | $11.1B |
| JPMorgan Chase & Co | $3.3B | $5.2B |
| Envestnet Asset Management Inc. | $1.5B | $3.8B |
| LPL Financial LLC | $577.7M | $3.7B |
| FMR LLC | $2.3B | $144.6M |
| Morgan Stanley | $1.4B | $1.0B |
| PNC Financial Services Group, Inc. | $826.0M | $1.4B |
| Ameriprise Financial Inc. | $1.8B | $242.9M |
| Truist Financial Corp. | $168.7M | $1.7B |
| BlackRock, Inc. | $370.5M | $548.9M |
| Raymond James Financial Inc. | $713.5M | $96.4M |
| UBS Group AG | $512.6M | $260.3M |
| Blue Trust, Inc. | $684.6M | $6.5M |
| Wealth Enhancement Advisory Services, LLC | $100.4M | $580.2M |
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: IEF institutional holders, GOVT institutional holders.
Frequently asked questions
How much do IEF and GOVT overlap?
9.6% by weight, with 15 holdings in common, using holdings for IEF as of May 31, 2026 and GOVT as of July 31, 2026. The largest shared position is US TREASURY N/B.
Do institutions hold both IEF and GOVT?
496 Form 13F filers report positions in both, out of 1,602 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%.