IJR vs SCHD: 1% overlap
iShares Core S&P Small-Cap ETF and Schwab U.S. Dividend Equity ETF share 1.2% 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
IJR and SCHD hold 25 of the same securities. The ten contributing most to the overlap figure:
| Holding | in IJR | in SCHD | Δ |
|---|---|---|---|
| MC | 0.2% | 0.1% | 0.1% |
| KFY | 0.2% | 0.1% | 0.1% |
| RHI | 0.2% | 0.1% | 0.1% |
| APAM | 0.2% | 0.1% | 0.1% |
| CVBF | 0.2% | 0.1% | 0.1% |
| WU | 0.1% | 0.1% | 0.1% |
| BANR | 0.1% | 0.1% | 0.1% |
| OFG | 0.1% | 0.0% | 0.1% |
| CNS | 0.1% | 0.0% | 0.1% |
| NBHC | 0.1% | 0.0% | 0.1% |
Where IJR 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 | IJR | SCHD | Δ |
|---|---|---|---|
| Consumer Staples | 3.8% | 18.4% | −14.7pp |
| Energy | 5.3% | 14.6% | −9.2pp |
| Financials | 17.8% | 8.8% | +9.0pp |
| Health Care | 10.5% | 18.3% | −7.8pp |
| Industrials | 18.5% | 10.8% | +7.7pp |
| Consumer Discretionary | 13.8% | 6.8% | +7.0pp |
| Real Estate | 6.2% | 0.0% | +6.2pp |
| Materials | 3.9% | 0.1% | +3.8pp |
Δ is IJR 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
94.9% of IJR by weight, held in no part of SCHD.
98.6% of SCHD by weight, held in no part of IJR.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| IJR | SCHD | |
|---|---|---|
| Top 10 holdings | 6.6% | 43.6% |
| Positions held | 603 | 101 |
| Cost per $10,000 held, per year | $6 | $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 IJR and SCHD overlap?
IJR and SCHD overlap 1.2% by portfolio weight — largely distinct portfolios. They share 25 holdings. The figure comes from current issuer holdings files (IJR as of 2026-07-23, SCHD as of 2026-05-31).
How is the overlap between IJR and SCHD calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If IJR 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 IJR and SCHD?
That depends on your goals — we state facts, not advice. At 1.2% overlap, each fund still contributes meaningfully distinct exposure.
What does IJR own that SCHD doesn't?
IJR holds 603 positions and SCHD holds 101; 577 of IJR's positions don't appear in SCHD at all, and they are 94.9% of IJR by weight.
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Related comparisons
Sources: issuer holdings files, IJR as of 2026-07-23, SCHD as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.