NUBD vs GNMA overlap

NUBD and GNMA overlap 2.4% by weight, across 47 shared holdings.

NUBDGNMA

Pick 2 to 4 ETFs.

2.4%

overlap by weight, across 47 shared holdings

NUBD2.5% of the fund is in shared holdings, of 2,411

GNMA24.8% of the fund is in shared holdings, of 347

Top shared holdings

Holding	NUBD	GNMA	Overlap
Ginnie Mae II Pool	0.21%	1.10%	0.21%
G2 Mb0871	0.21%	0.45%	0.21%
G2 Ma7935	0.21%	0.14%	0.14%
G2 Ma7472G2	0.11%	1.71%	0.11%
G2 Ma6864	0.10%	1.52%	0.10%
G2 Ma8042	0.08%	0.15%	0.08%
G2 Ma7367	0.08%	1.46%	0.08%
G2 Ma7826	0.07%	1.36%	0.07%
G2 Ma9964	0.07%	0.08%	0.07%
G2 Ma8428	0.07%	0.13%	0.07%
G2 Ma7051	0.06%	0.21%	0.06%
G2 Ma7937	0.06%	0.24%	0.06%
G2 Ma8491	0.06%	0.48%	0.06%
G2 Ma7136	0.06%	0.51%	0.06%
G2 Ma6038	0.06%	0.06%	0.06%

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: NUBD, SEC Form N-PORT, July 31, 2026; GNMA, SEC Form N-PORT, July 31, 2026.

institutions report holding both, of 216 holding any

NUBD42.8% of its 13F dollars, 26.0% of its 123 holders

GNMA42.9% of its 13F dollars, 25.6% of its 125 holders

Largest institutions holding both

Firm	NUBD	GNMA
Morgan Stanley	$45.9M	$8.5M
Focus Partners Wealth	$6.9M	$36.6M
Envestnet Asset Management Inc.	$36.8M	$4.3M
JPMorgan Chase & Co	$4.5M	$33.8M
LPL Financial LLC	$11.5M	$17.6M
OneDigital Investment Advisors LLC	$946K	$12.2M
Bank of America Corp.	$5.8M	$5.2M
Sanctuary Advisors, LLC	$430K	$7.3M
UBS Group AG	$2.5M	$3.8M
Park Avenue Securities LLC	$3.0M	$1.8M
Perigon Wealth Management, LLC	$4.1M	$335K
Assetmark, Inc.	$4.0M	$5K
HighTower Advisors, LLC	$1.7M	$2.1M
Wealth Enhancement Advisory Services, LLC	$272K	$3.0M
MML Investors Services, LLC	$1.6M	$1.1M

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: NUBD institutional holders, GNMA institutional holders.

Frequently asked questions

How much do NUBD and GNMA overlap?

2.4% by weight, with 47 holdings in common, using holdings for NUBD as of July 31, 2026 and GNMA as of July 31, 2026. The largest shared position is Ginnie Mae II Pool.

Do institutions hold both NUBD and GNMA?

32 Form 13F filers report positions in both, out of 216 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%.