NUBD vs IBTO overlap
NUBD and IBTO overlap 1.3% by weight, across 7 shared holdings.
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Top shared holdings
| Holding | NUBD | IBTO | Overlap |
|---|---|---|---|
| US Treasury N/B | 0.38% | 17.27% | 0.38% |
| US Treasury N/B | 0.27% | 15.43% | 0.27% |
| US Treasury N/BT | 0.20% | 6.46% | 0.20% |
| US Treasury N/B | 0.16% | 13.76% | 0.16% |
| US Treasury N/BT | 0.14% | 14.11% | 0.14% |
| US Treasury N/B | 0.07% | 6.34% | 0.07% |
| US Treasury N/BT | 0.03% | 5.39% | 0.03% |
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; IBTO, SEC Form N-PORT, July 31, 2026.
Largest institutions holding both
| Firm | NUBD | IBTO |
|---|---|---|
| Morgan Stanley | $45.9M | $25.4M |
| Envestnet Asset Management Inc. | $36.8M | $15.8M |
| Atlantic Union Bankshares Corp | $46K | $43.8M |
| Cambridge Investment Research Advisors, Inc. | $41.8M | $770K |
| LPL Financial LLC | $11.5M | $1.2M |
| Cetera Investment Advisers | $1.3M | $10.0M |
| Wells Fargo & Company | $2.5M | $7.9M |
| Bank of America Corp. | $5.8M | $3.7M |
| HighTower Advisors, LLC | $1.7M | $7.7M |
| Mercer Global Advisors Inc. | $5.2M | $3.8M |
| UBS Group AG | $2.5M | $4.3M |
| Royal Bank of Canada | $2.5M | $3.2M |
| Assetmark, Inc. | $4.0M | $5K |
| Stifel Financial Corp. | $563K | $3.0M |
| Vestmark Advisory Solutions, Inc. | $3.2M | $231K |
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, IBTO institutional holders.
Frequently asked questions
How much do NUBD and IBTO overlap?
1.3% by weight, with 7 holdings in common, using holdings for NUBD as of July 31, 2026 and IBTO as of July 31, 2026. The largest shared position is US TREASURY N/B.
Do institutions hold both NUBD and IBTO?
24 Form 13F filers report positions in both, out of 182 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%.