ITOT vs SCHB: 91% overlap
iShares Core S&P Total U.S. Stock Market ETF and Schwab U.S. Broad Market ETF share 91.5% 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 — SCHB 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 1.1. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
ITOT and SCHB hold 2,121 of the same securities. The ten contributing most to the overlap figure:
| Holding | in ITOT | in SCHB | Δ |
|---|---|---|---|
| NVDA | 7.0% | 7.0% | 0.0% |
| AAPL | 6.6% | 6.3% | 0.3% |
| MSFT | 3.9% | 4.6% | 0.6% |
| AMZN | 3.2% | 3.6% | 0.4% |
| GOOGL | 2.6% | 3.0% | 0.4% |
| AVGO | 2.6% | 2.9% | 0.3% |
| GOOG | 2.1% | 2.4% | 0.3% |
| META | 1.8% | 1.9% | 0.0% |
| MU | 1.6% | 1.5% | 0.1% |
| TSLA | 1.2% | 1.7% | 0.4% |
Where ITOT and SCHB 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 | ITOT | SCHB | Δ |
|---|---|---|---|
| Unclassified | 0.0% | 3.5% | −3.5pp |
| Financials | 12.7% | 11.1% | +1.5pp |
| Industrials | 10.1% | 8.8% | +1.4pp |
| Health Care | 9.7% | 8.4% | +1.3pp |
| Communication Services | 8.7% | 9.6% | −0.9pp |
| Information Technology | 35.2% | 35.8% | −0.7pp |
| Consumer Discretionary | 8.8% | 9.3% | −0.5pp |
| Materials | 2.1% | 1.6% | +0.5pp |
Δ is ITOT minus SCHB, 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
3.9% of ITOT by weight, held in no part of SCHB.
3.5% of SCHB by weight, held in no part of ITOT.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| ITOT | SCHB | |
|---|---|---|
| Top 10 holdings | 32.7% | 34.9% |
| Positions held | 2,440 | 2,407 |
| Cost per $10,000 held, per year | $3 | $3 |
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 ITOT and SCHB overlap?
ITOT and SCHB overlap 91.5% by portfolio weight — they are effectively the same fund. They share 2,121 holdings. The figure comes from current issuer holdings files (ITOT as of 2026-07-23, SCHB as of 2026-05-31).
How is the overlap between ITOT and SCHB calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If ITOT holds a stock at 6% and SCHB 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 ITOT and SCHB?
That depends on your goals — we state facts, not advice. At 91.5% overlap, most of what one fund holds, the other holds too. Expense ratios: ITOT 0.03% versus SCHB 0.03%.
What does ITOT own that SCHB doesn't?
ITOT holds 2,440 positions and SCHB holds 2,407; 318 of ITOT's positions don't appear in SCHB at all, and they are 3.9% of ITOT by weight.
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Related comparisons
Sources: issuer holdings files, ITOT as of 2026-07-23, SCHB as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.