SCHB vs SCHX: 94% overlap
Schwab U.S. Broad Market ETF and Schwab U.S. Large-Cap ETF share 93.5% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
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
SCHB and SCHX hold 749 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHB | in SCHX | Δ |
|---|---|---|---|
| NVDA | 7.0% | 7.5% | 0.5% |
| AAPL | 6.3% | 6.7% | 0.4% |
| MSFT | 4.6% | 4.9% | 0.3% |
| AMZN | 3.6% | 3.9% | 0.2% |
| GOOGL | 3.0% | 3.2% | 0.2% |
| AVGO | 2.9% | 3.1% | 0.2% |
| GOOG | 2.4% | 2.6% | 0.2% |
| META | 1.9% | 2.0% | 0.1% |
| TSLA | 1.7% | 1.8% | 0.1% |
| MU | 1.5% | 1.6% | 0.1% |
Where SCHB and SCHX 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 | SCHB | SCHX | Δ |
|---|---|---|---|
| Information Technology | 35.8% | 36.8% | −0.9pp |
| Industrials | 8.8% | 8.2% | +0.6pp |
| Communication Services | 9.6% | 10.1% | −0.5pp |
| Health Care | 8.4% | 8.1% | +0.3pp |
| Real Estate | 2.2% | 1.9% | +0.2pp |
| Financials | 11.1% | 10.9% | +0.2pp |
| Materials | 1.6% | 1.4% | +0.2pp |
| Consumer Staples | 4.3% | 4.4% | −0.2pp |
Δ is SCHB minus SCHX, 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
6.5% of SCHB by weight, held in no part of SCHX.
0.0% of SCHX by weight, held in no part of SCHB.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SCHB | SCHX | |
|---|---|---|
| Top 10 holdings | 34.9% | 37.3% |
| Positions held | 2,407 | 750 |
| 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 SCHB and SCHX overlap?
SCHB and SCHX overlap 93.5% by portfolio weight — they are effectively the same fund. They share 749 holdings. The figure comes from current issuer holdings files (SCHB as of 2026-05-31, SCHX as of 2026-05-31).
How is the overlap between SCHB and SCHX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SCHB holds a stock at 6% and SCHX 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 SCHB and SCHX?
That depends on your goals — we state facts, not advice. At 93.5% overlap, most of what one fund holds, the other holds too. Expense ratios: SCHB 0.03% versus SCHX 0.03%.
What does SCHB own that SCHX doesn't?
SCHB holds 2,407 positions and SCHX holds 750; 1,657 of SCHB's positions don't appear in SCHX at all, and they are 6.5% of SCHB by weight.
You probably hold more than two funds
This page compares SCHB and SCHX. 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 SCHB vs SCHX
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, SCHB as of 2026-05-31, SCHX as of 2026-05-31. Weights are fractions of each fund. Diagnostics, not advice.