IEFA vs SCHD: 1% overlap
iShares Core MSCI EAFE ETF and Schwab U.S. Dividend Equity ETF share 0.7% 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 — SCHD as of 2026-05-31, the rest through 2026-07-23. 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
IEFA and SCHD hold 13 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in SCHD | Δ |
|---|---|---|---|
| ALV | 0.7% | 0.2% | 0.5% |
| MC | 0.5% | 0.1% | 0.4% |
| MRK | 0.1% | 3.9% | 3.8% |
| ADM | 0.0% | 1.0% | 0.9% |
| APA | 0.0% | 0.3% | 0.3% |
| ORI | 0.0% | 0.2% | 0.2% |
| CASH | 0.0% | 0.0% | 0.0% |
| BBY | 0.0% | 0.4% | 0.4% |
| CNA | 0.0% | 0.0% | 0.0% |
| ADP | 0.0% | 2.2% | 2.2% |
Where IEFA 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 | IEFA | SCHD | Δ |
|---|---|---|---|
| Financials | 24.2% | 8.8% | +15.4pp |
| Consumer Staples | 6.7% | 18.4% | −11.7pp |
| Health Care | 7.6% | 18.3% | −10.7pp |
| Energy | 3.9% | 14.6% | −10.7pp |
| Industrials | 19.6% | 10.8% | +8.8pp |
| Materials | 6.4% | 0.1% | +6.3pp |
| Utilities | 4.2% | 0.1% | +4.1pp |
| Unclassified | 0.0% | 2.9% | −2.9pp |
Δ is IEFA 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
98.0% of IEFA by weight, held in no part of SCHD.
90.7% of SCHD by weight, held in no part of IEFA.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IEFA | SCHD | |
|---|---|---|
| Top 10 holdings | 12.5% | 43.6% |
| Positions held | 2,567 | 101 |
| Cost per $10,000 held, per year | $7 | $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 IEFA and SCHD overlap?
IEFA and SCHD overlap 0.7% by portfolio weight — largely distinct portfolios. They share 13 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, SCHD as of 2026-05-31).
How is the overlap between IEFA and SCHD calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IEFA 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 IEFA and SCHD?
That depends on your goals — we state facts, not advice. At 0.7% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that SCHD doesn't?
IEFA holds 2,567 positions and SCHD holds 101; 2,553 of IEFA's positions don't appear in SCHD at all, and they are 98.0% of IEFA by weight.
You probably hold more than two funds
This page compares IEFA 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 IEFA 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, IEFA as of 2026-07-23, SCHD as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.