What is the fee difference between SCHB and SCHD?

SCHB has an expense ratio of 0.03% and SCHD 0.06%, so SCHD costs 0.03 percentage points more. On $10,000 invested that is about $3 a year for SCHB and roughly $6 for SCHD. Both are very cheap by industry standards, so fees are unlikely to be the deciding factor between these two funds.

What index does each fund track?

SCHB tracks the Dow Jones US Broad Stock Market index, which aims to cover virtually the whole investable US equity market, and the fund holds about 2,380 stocks. SCHD tracks the Dow Jones U.S. Dividend 100 index, which selects roughly 100 US companies with at least ten years of dividend payments and strong fundamentals. SCHD currently holds 102 positions.

How much do SCHB and SCHD overlap?

Very little at the top. SCHB's ten largest holdings are NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, Meta, Micron and Tesla. SCHD's ten largest are Merck, Abbott, Amgen, Coca-Cola, Chevron, ConocoPhillips, Procter & Gamble, Verizon, UnitedHealth and Home Depot. No stock appears in both top tens. SCHD's names are in SCHB, but at much smaller weights.

Which fund pays a higher dividend yield?

SCHD, by a wide margin. Its dividend yield is 3.12% compared with 1.01% for SCHB. SCHD is built specifically to hold established dividend payers, whereas SCHB's yield is pulled down by its large weight in growth companies that pay little or nothing. Investors focused on income typically prefer SCHD for this reason.

Which fund suits which goal?

SCHB suits investors who want one fund covering the entire US stock market at the lowest possible cost, including small caps and growth companies. SCHD suits investors who want a higher and steadier income stream from quality dividend stocks and are comfortable giving up most technology exposure. Many portfolios use SCHB as the core and SCHD as an income sleeve.

How large and liquid are SCHB and SCHD?

SCHD is the larger fund at about $113 billion in net assets, while SCHB holds about $44 billion. Both are large, heavily traded Schwab ETFs, so retail investors should see tight bid-ask spreads. SCHB launched in November 2009 and SCHD in October 2011.

Are there tax or account considerations?

SCHD's higher yield means more of its return arrives as dividends, which are often taxed each year in a taxable account. Non-US investors may also face US withholding tax on those payments. SCHB's return is more weighted to capital gains, which are usually taxed only on sale. Rules differ by country and account type, so check local guidance.

Can I hold both SCHB and SCHD?

Yes, and the combination is common. Because their top holdings barely overlap, adding SCHD to SCHB raises your dividend income and your weight in healthcare, energy and consumer staples while trimming technology. The trade-off is a more value-oriented portfolio that may lag a pure total-market fund when growth stocks lead.

How concentrated is each fund?

SCHD is more concentrated by design, holding only 102 stocks with the top ten making up about 42% of assets. SCHB holds about 2,380 stocks, but its top ten still accounts for roughly 34% because of the size of the largest technology companies. So SCHB is broader, yet still heavily influenced by a handful of mega-caps.

SCHB vs SCHD

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

SCHB holds about 2,380 stocks across the whole US market for a 0.03% expense ratio, while SCHD holds 102 dividend stocks from the Dow Jones U.S. Dividend 100 index for 0.06%. SCHD yields 3.12% against SCHB's 1.01%, but SCHB's top holdings are NVIDIA, Apple and Microsoft while SCHD's are Merck, Abbott and Amgen. SCHB suits total-market investors, SCHD income seekers. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SCHB

Metric

SCHD

0.03%

Expense Ratio

0.06%

1.01%

Dividend Yield

3.12%

$44.42B

Net Assets

$112.77B

2,380

Holdings

102

Nov 3, 2009

Inception Date

Oct 20, 2011

Dow Jones US Broad Stock Market

Index Tracked

Dow Jones U.S. Dividend 100

Large Blend

Fund Category

Large Value

SCHB costs about $3.00 less per year for every $10,000 invested.

Shared Top Holdings

These funds do not share any of their top holdings.

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Investment Analysis

SCHB

Pros

Expense ratio of 0.03%, about $3 a year per $10,000 invested
About 2,380 holdings covering large, mid and small US companies in one fund
Includes the growth names such as NVIDIA and Apple that dividend screens leave out

Considerations

Dividend yield of 1.01% is roughly a third of SCHD's 3.12%
Top 10 is dominated by technology, with NVIDIA alone at 7.21%
Smaller than SCHD at about $44 billion in net assets

SCHD

Pros

Dividend yield of 3.12%, more than triple the yield of SCHB
Screens for companies with consistent dividend records and financial quality
About $113 billion in net assets, a very large and widely held fund

Considerations

Expense ratio of 0.06% is double SCHB's 0.03%, though still low
Only 102 holdings, so far less diversified than a total-market fund
Excludes most large technology companies, so it can lag when growth leads

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About SCHB and SCHD

SCHB (SCHB)

SCHB (Schwab U.S. Broad Market ETF) offers investors broad exposure to the US equity market by tracking a wide-capitalisation index of US-listed companies. It is structured as an exchange-traded fund from Charles Schwab and aims to capture the performance of the overall US stock market rather than just large-cap names. Investors should know it provides diversified single-ticket access to many sectors, can be used as a core equity holding, and typically has the trading flexibility of an ETF. As with all equity investments, values can rise and fall and past performance is no guarantee of future returns. This information is educational and not personal investment advice; check the fund’s prospectus and current factsheets for up-to-date details on holdings, fees, distributions and risks before making decisions.

SCHD (SCHD)

SCHD (Schwab US Dividend Equity ETF) is an exchange‑traded fund that aims to provide exposure to high-quality U.S. companies that have a history of paying dividends. Managed by Charles Schwab, the ETF screens for firms with stable earnings, reasonable payout ratios and consistent dividend records, concentrating on large‑cap names across a range of sectors. Investors often use SCHD for income and as a core holding to capture dividend yield with the diversification and liquidity of an ETF. It is designed to be a low‑cost, transparent vehicle, though dividends and share prices can fall and past performance is not a guarantee of future results. Suitable for investors seeking income and long‑term total return, it may not fit those focused solely on capital growth or who require guarantees. As with any investment, consider costs, tax treatment and how it fits your wider portfolio before investing.

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SCHB vs SCHD

Fund Snapshot