IEFA vs SCHG: 0% overlap
iShares Core MSCI EAFE ETF and Schwab U.S. Large-Cap Growth ETF share 0.3% 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 — SCHG 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 SCHG hold 7 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IEFA | in SCHG | Δ |
|---|---|---|---|
| ROP | 1.2% | 0.1% | 1.1% |
| HEI | 0.1% | 0.1% | 0.0% |
| CSL | 0.2% | 0.0% | 0.1% |
| AAL | 0.2% | 0.0% | 0.2% |
| CASH | 0.0% | 0.1% | 0.0% |
| TKO | 0.0% | 0.0% | 0.0% |
| DIS | 0.0% | 0.6% | 0.6% |
Where IEFA and SCHG 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 | SCHG | Δ |
|---|---|---|---|
| Information Technology | 11.9% | 46.1% | −34.2pp |
| Financials | 24.2% | 6.8% | +17.4pp |
| Industrials | 19.6% | 6.0% | +13.6pp |
| Communication Services | 3.2% | 14.7% | −11.5pp |
| Materials | 6.4% | 0.6% | +5.8pp |
| Consumer Staples | 6.7% | 1.7% | +5.0pp |
| Utilities | 4.2% | 0.4% | +3.8pp |
| Consumer Discretionary | 8.8% | 12.1% | −3.4pp |
Δ is IEFA minus SCHG, 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
97.9% of IEFA by weight, held in no part of SCHG.
98.9% of SCHG 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 | SCHG | |
|---|---|---|
| Top 10 holdings | 12.5% | 57.2% |
| Positions held | 2,567 | 195 |
| Cost per $10,000 held, per year | $7 | $4 |
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 SCHG overlap?
IEFA and SCHG overlap 0.3% by portfolio weight — largely distinct portfolios. They share 7 holdings. The figure comes from current issuer holdings files (IEFA as of 2026-07-23, SCHG as of 2026-05-31).
How is the overlap between IEFA and SCHG 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 SCHG 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 SCHG?
That depends on your goals — we state facts, not advice. At 0.3% overlap, each fund still contributes meaningfully distinct exposure.
What does IEFA own that SCHG doesn't?
IEFA holds 2,567 positions and SCHG holds 195; 2,559 of IEFA's positions don't appear in SCHG at all, and they are 97.9% of IEFA by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, IEFA as of 2026-07-23, SCHG as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.