SCHG vs VFMO: 11% overlap
Schwab U.S. Large-Cap Growth ETF and Vanguard U.S. Momentum Factor ETF share 10.8% 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 — VFMO 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 1.9. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
SCHG and VFMO hold 45 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHG | in VFMO | Δ |
|---|---|---|---|
| AMD | 2.9% | 1.0% | 2.0% |
| GEV | 0.9% | 1.1% | 0.2% |
| GOOGL | 4.8% | 0.9% | 3.9% |
| KLAC | 0.9% | 1.0% | 0.1% |
| AVGO | 4.5% | 0.6% | 3.9% |
| GE | 1.2% | 0.6% | 0.6% |
| GOOG | 3.8% | 0.6% | 3.2% |
| LLY | 3.1% | 0.5% | 2.6% |
| TSLA | 3.9% | 0.4% | 3.5% |
| VRT | 0.4% | 0.9% | 0.5% |
Where SCHG and VFMO 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 | SCHG | VFMO | Δ |
|---|---|---|---|
| Information Technology | 46.1% | 17.0% | +29.1pp |
| Industrials | 6.0% | 24.4% | −18.4pp |
| Health Care | 8.3% | 22.3% | −14.0pp |
| Communication Services | 14.7% | 3.4% | +11.3pp |
| Energy | 0.7% | 7.7% | −7.0pp |
| Materials | 0.6% | 6.2% | −5.6pp |
| Consumer Discretionary | 12.1% | 7.8% | +4.3pp |
| Cash and/or Derivatives | 0.1% | 1.4% | −1.3pp |
Δ is SCHG minus VFMO, 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
68.1% of SCHG by weight, held in no part of VFMO.
85.3% of VFMO by weight, held in no part of SCHG.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SCHG | VFMO | |
|---|---|---|
| Top 10 holdings | 57.2% | 10.2% |
| Positions held | 195 | 672 |
| Cost per $10,000 held, per year | $4 | $13 |
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 SCHG and VFMO overlap?
SCHG and VFMO overlap 10.8% by portfolio weight — largely distinct portfolios. They share 45 holdings. The figure comes from current issuer holdings files (SCHG as of 2026-05-31, VFMO as of 2026-03-31).
How is the overlap between SCHG and VFMO calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SCHG holds a stock at 6% and VFMO 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 SCHG and VFMO?
That depends on your goals — we state facts, not advice. At 10.8% overlap, each fund still contributes meaningfully distinct exposure.
What does SCHG own that VFMO doesn't?
SCHG holds 195 positions and VFMO holds 672; 149 of SCHG's positions don't appear in VFMO at all, and they are 68.1% of SCHG by weight.
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Related comparisons
Sources: issuer holdings files, SCHG as of 2026-05-31, VFMO as of 2026-03-31. Weights are fractions of each fund. Diagnostics, not advice.