NEW YORK ( TheStreet) -- If you buy Vanguard Total Bond Market Index (VBMFX), you have a big stake in Treasuries and tiny holdings in debt from such blue-chip corporate issuers as International Business Machines (IBM - Get Report) and Wal-Mart Stores (WMT - Get Report).The Vanguard portfolio, which tracks the Barclays Capital Aggregate Bond (LAG) index, seems lopsided because it is weighted according to market capitalization. Under that system, Uncle Sam and other issuers that are heavily indebted account for a big weight in the index, while borrowers with little debt outstanding count for a small percentage of total assets.
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