SCHF vs SMH: 0% overlap
Schwab International Equity ETF and VanEck Semiconductor ETF share 0.0% 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 — SMH as of 2026-03-31, the rest through 2026-05-31. 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
SCHF and SMH hold 0 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHF | in SMH | Δ |
|---|
Where SCHF and SMH 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 | SCHF | SMH | Δ |
|---|---|---|---|
| Information Technology | 0.0% | 92.8% | −92.8pp |
| Unclassified | 95.9% | 7.2% | +88.7pp |
| Financials | 1.9% | 0.0% | +1.9pp |
| Cash and/or Derivatives | 0.5% | 0.0% | +0.5pp |
| Consumer Staples | 0.5% | 0.0% | +0.5pp |
| Industrials | 0.3% | 0.0% | +0.3pp |
| Energy | 0.2% | 0.0% | +0.2pp |
| Consumer Discretionary | 0.2% | 0.0% | +0.2pp |
Δ is SCHF minus SMH, 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
99.8% of SCHF by weight, held in no part of SMH.
100.0% of SMH by weight, held in no part of SCHF.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SCHF | SMH | |
|---|---|---|
| Top 10 holdings | 14.8% | 72.2% |
| Positions held | 1,477 | 26 |
| Cost per $10,000 held, per year | $6 | $35 |
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 SCHF and SMH overlap?
SCHF and SMH overlap 0.0% by portfolio weight — largely distinct portfolios. They share 0 holdings. The figure comes from current issuer holdings files (SCHF as of 2026-05-31, SMH as of 2026-03-31).
How is the overlap between SCHF and SMH calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SCHF holds a stock at 6% and SMH 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 SCHF and SMH?
That depends on your goals — we state facts, not advice. At 0.0% overlap, each fund still contributes meaningfully distinct exposure.
What does SCHF own that SMH doesn't?
SCHF holds 1,477 positions and SMH holds 26; 1,476 of SCHF's positions don't appear in SMH at all, and they are 99.8% of SCHF by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, SCHF as of 2026-05-31, SMH as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.