SCHX vs TSPS: 5% overlap
Schwab U.S. Large-Cap ETF and TSP S Fund — shown via extended-market proxy share 4.8% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 30 days apart — SCHX as of 2026-05-31, the rest through 2026-06-30. 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
SCHX and TSPS hold 235 of the same securities. The ten contributing most to the overlap figure:
| Holding | in SCHX | in TSPS | Δ |
|---|---|---|---|
| CASH | 0.1% | 3.8% | 3.6% |
| SNOW | 0.1% | 1.0% | 0.9% |
| NET | 0.1% | 0.9% | 0.8% |
| BE | 0.1% | 0.9% | 0.8% |
| RKLB | 0.1% | 0.6% | 0.5% |
| MSTR | 0.1% | 0.3% | 0.3% |
| LNG | 0.1% | 0.6% | 0.5% |
| ALAB | 0.1% | 0.7% | 0.7% |
| FERG | 0.1% | 0.5% | 0.5% |
| ALNY | 0.1% | 0.5% | 0.4% |
Where SCHX and TSPS 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 | SCHX | TSPS | Δ |
|---|---|---|---|
| Information Technology | 36.8% | 17.6% | +19.1pp |
| Industrials | 8.2% | 19.8% | −11.6pp |
| Communication Services | 10.1% | 4.5% | +5.6pp |
| Health Care | 8.1% | 13.2% | −5.0pp |
| Cash and/or Derivatives | 0.1% | 3.8% | −3.6pp |
| Financials | 10.9% | 13.9% | −3.0pp |
| Real Estate | 1.9% | 4.8% | −2.9pp |
| Materials | 1.4% | 4.1% | −2.7pp |
Δ is SCHX minus TSPS, 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
94.9% of SCHX by weight, held in no part of TSPS.
60.2% of TSPS by weight, held in no part of SCHX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| SCHX | TSPS | |
|---|---|---|
| Top 10 holdings | 37.3% | 10.6% |
| Positions held | 750 | 3,327 |
| Cost per $10,000 held, per year | $3 | $5 |
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 SCHX and TSPS overlap?
SCHX and TSPS overlap 4.8% by portfolio weight — largely distinct portfolios. They share 235 holdings. The figure comes from current issuer holdings files (SCHX as of 2026-05-31, TSPS as of 2026-06-30).
How is the overlap between SCHX and TSPS calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If SCHX holds a stock at 6% and TSPS 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 SCHX and TSPS?
That depends on your goals — we state facts, not advice. At 4.8% overlap, each fund still contributes meaningfully distinct exposure.
What does SCHX own that TSPS doesn't?
SCHX holds 750 positions and TSPS holds 3,327; 514 of SCHX's positions don't appear in TSPS at all, and they are 94.9% of SCHX by weight.
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Related comparisons
Sources: issuer holdings files, SCHX as of 2026-05-31, TSPS as of 2026-06-30. Weights are fractions of each fund. Diagnostics, not advice.