SCHF vs SWPPX: 0% overlap
Schwab International Equity ETF and Schwab S&P 500 Index share 0.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 31 days apart — SWPPX as of 2026-04-30, 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 SWPPX hold 3 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHF | in SWPPX | Δ |
|---|---|---|---|
| PPL | 0.1% | 0.0% | 0.0% |
| L | 0.1% | 0.0% | 0.1% |
| CASH | 0.5% | 0.0% | 0.5% |
Where SCHF and SWPPX 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 | SWPPX | Δ |
|---|---|---|---|
| Unclassified | 95.9% | 2.8% | +93.1pp |
| Information Technology | 0.0% | 34.2% | −34.2pp |
| Communication Services | 0.2% | 11.0% | −10.8pp |
| Financials | 1.9% | 11.5% | −9.6pp |
| Consumer Discretionary | 0.2% | 9.7% | −9.5pp |
| Health Care | 0.0% | 8.3% | −8.3pp |
| Industrials | 0.3% | 8.1% | −7.8pp |
| Consumer Staples | 0.5% | 4.9% | −4.4pp |
Δ is SCHF minus SWPPX, 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
99.1% of SCHF by weight, held in no part of SWPPX.
99.5% of SWPPX 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 | SWPPX | |
|---|---|---|
| Top 10 holdings | 14.8% | 38.3% |
| Positions held | 1,477 | 503 |
| Cost per $10,000 held, per year | $6 | $2 |
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 SWPPX overlap?
SCHF and SWPPX overlap 0.1% by portfolio weight — largely distinct portfolios. They share 3 holdings. The figure comes from current issuer holdings files (SCHF as of 2026-05-31, SWPPX as of 2026-04-30).
How is the overlap between SCHF and SWPPX 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 SWPPX 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 SWPPX?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does SCHF own that SWPPX doesn't?
SCHF holds 1,477 positions and SWPPX holds 503; 1,473 of SCHF's positions don't appear in SWPPX at all, and they are 99.1% 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, SWPPX as of 2026-04-30. Weights are fractions of each fund. Diagnostics, not advice.