ABALX vs SCHD: 5% overlap
American Funds American Balanced A and Schwab U.S. Dividend Equity ETF share 4.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published about 2 months apart — ABALX as of 2026-03-31, the rest through 2026-05-31. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ABALX and SCHD hold 19 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ABALX | in SCHD | Δ |
|---|---|---|---|
| AMGN | 0.9% | 3.5% | 2.5% |
| UNH | 0.9% | 5.1% | 4.2% |
| HD | 0.7% | 3.4% | 2.6% |
| EOG | 0.6% | 1.8% | 1.2% |
| CMCSA | 0.5% | 2.2% | 1.8% |
| SLB | 0.2% | 2.1% | 1.8% |
| CVX | 0.1% | 3.8% | 3.7% |
| ARES | 0.1% | 0.7% | 0.5% |
| DRI | 0.1% | 0.6% | 0.5% |
| FITB | 0.1% | 1.1% | 1.0% |
Where ABALX and SCHD differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | ABALX | SCHD | Δ |
|---|---|---|---|
| Unclassified | 22.7% | 2.9% | +19.8pp |
| Consumer Staples | 4.4% | 18.4% | −14.0pp |
| Treasuries | 12.3% | 0.0% | +12.3pp |
| Energy | 2.3% | 14.6% | −12.3pp |
| Health Care | 6.7% | 18.3% | −11.6pp |
| Industrials | 6.0% | 10.8% | −4.9pp |
| Corporate — industrial & other | 3.6% | 0.0% | +3.6pp |
| Information Technology | 16.0% | 12.9% | +3.0pp |
Δ is ABALX minus SCHD, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
95.9% of ABALX by weight, held in no part of SCHD.
56.6% of SCHD by weight, held in no part of ABALX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ABALX | SCHD | |
|---|---|---|
| Top 10 holdings | 36.3% | 43.6% |
| Positions held | 1,439 | 101 |
| Cost per $10,000 held, per year | $56 | $6 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do ABALX and SCHD overlap?
ABALX and SCHD overlap 4.8% by portfolio weight — largely distinct portfolios. They share 19 holdings. The figure comes from current issuer holdings files (ABALX as of 2026-03-31, SCHD as of 2026-05-31).
How is the overlap between ABALX and SCHD calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ABALX holds a stock at 6% and SCHD holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both ABALX and SCHD?
That depends on your goals — we state facts, not advice. At 4.8% overlap, each fund still contributes meaningfully distinct exposure.
What does ABALX own that SCHD doesn't?
ABALX holds 1,439 positions and SCHD holds 101; 1,419 of ABALX's positions don't appear in SCHD at all, and they are 95.9% of ABALX by weight.
You probably hold more than two funds
This page compares ABALX and SCHD. Paste your whole portfolio — brokerage, 401(k), IRA — and see the overlap across every fund at once, plus what you actually own underneath them and your own Effective Funds number. Free, no account, nothing stored.
X-ray my portfolio — free →Watch ABALX vs SCHD
We re-read both funds’ published holdings every weeknight. Leave an address and we'll tell you when what's inside actually changes.
Not sending yet — email alerts are built but switched off, and you'll be among the first when they turn on. No spam, one-click unsubscribe.
Related comparisons
Sources: issuer holdings files, ABALX as of 2026-03-31, SCHD as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.