What is the fee difference between SCHB and VOO?

There is none. Both SCHB and VOO charge an expense ratio of 0.03% a year, which works out to about $3 per $10,000 invested. With fees identical, the decision comes down to index coverage: SCHB includes small and mid caps while VOO holds only the large caps in the S&P 500.

What indexes do SCHB and VOO track?

SCHB tracks the Dow Jones US Broad Stock Market index, which covers about 2,380 US stocks across large, mid and small caps. VOO tracks the S&P 500, a large-cap index of roughly 500 leading US companies, with 516 holdings in the fund. Both are market-cap weighted, so the biggest companies dominate each portfolio.

How much do SCHB and VOO overlap?

Substantially. Their top ten holdings are identical: NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, Meta, Micron and Tesla. NVIDIA is 7.21% of SCHB and 8.08% of VOO. Because both are cap-weighted, the large caps that drive VOO also drive most of SCHB's return; SCHB simply adds smaller companies at low weights.

How do the dividend yields compare?

VOO yields 1.04% and SCHB yields 1.01%, a negligible gap. On $10,000 invested that is about $104 a year from VOO and $101 from SCHB before taxes. Both funds pay dividends collected from their underlying companies, and neither is designed as an income-focused product.

Which fund suits which investor?

SCHB suits investors who want a single fund covering the whole US stock market, including small and mid caps, without adding a second ETF. VOO suits investors who want the well-known S&P 500 benchmark and the largest possible fund. Over long periods the two have tended to behave very similarly because their large-cap cores match.

How do SCHB and VOO compare on size?

VOO is vastly larger with $1.08 trillion in net assets, compared with $44.42 billion for SCHB. Both are big, actively traded funds, so retail investors can buy or sell normal quantities easily. VOO's scale mainly matters to institutions or investors trading very large blocks.

Does SCHB's broader coverage change risk?

Slightly. SCHB's 2,380 holdings include mid and small caps that can be more volatile and less liquid than large caps, but they carry small weights. The top ten positions in SCHB total roughly 34% versus about 38% in VOO, so SCHB is marginally less concentrated in mega-cap technology.

What about taxes on SCHB versus VOO?

Both are broad US equity ETFs, and the tax treatment of their dividends and capital gains follows the same general rules in most jurisdictions. Where you hold them, for example in a taxable brokerage account or a tax-advantaged retirement account, usually matters more than which fund you pick. Consult a tax adviser for specifics.

Can I hold both SCHB and VOO?

You can, but the two overlap heavily because VOO's S&P 500 stocks make up most of SCHB by weight. Holding both does not add much diversification. Investors who want small and mid caps alongside VOO often pair it with a dedicated small-cap or extended-market fund instead of a second broad-market fund.

SCHB vs VOO

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

Schwab U.S. Broad Market ETF (SCHB) tracks the Dow Jones US Broad Stock Market across 2,380 holdings, while Vanguard S&P 500 ETF (VOO) tracks the S&P 500 with 516. Both charge 0.03% and share the same top ten holdings, led by NVIDIA, Apple and Microsoft. SCHB suits investors who want small and mid caps too; VOO suits those who prefer the classic large-cap index. Educational content, not financial advice.

Schwab U.S. Broad Market ETF (SCHB) tracks the Dow Jones US Broad Stock Market across 2,380 holdings, while Vanguard S&P 500 ETF (VOO) tracks the S&P 500 with 516. Both charge 0.03% and share the same...

Fund Snapshot

Key Fund Metrics

SCHB

Metric

VOO

0.03%

Expense Ratio

0.03%

1.01%

Dividend Yield

1.04%

$44.42B

Net Assets

$1.08T

2,380

Holdings

516

Nov 3, 2009

Inception Date

Sep 7, 2010

Dow Jones US Broad Stock Market

Index Tracked

S&P 500

Large Blend

Fund Category

Large Blend

Both funds charge the same annual fee.

Shared Top Holdings

Holding	SCHB	VOO
NVDANVIDIA Corporation	7.21%	8.08%
AAPLApple Inc.	6.72%	7.03%
MSFTMicrosoft Corporation	5.02%	5.70%
AMZNAmazon.com, Inc.	3.34%	3.84%
GOOGLAlphabet Inc.	2.76%	3.01%
AVGOBroadcom Inc.	2.23%	2.65%
GOOGAlphabet Inc.	2.20%	2.40%
METAMeta Platforms, Inc.	2.03%	1.90%
MUMicron Technology, Inc.	1.50%	1.63%
TSLATesla, Inc.	1.40%	1.57%

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Investment Analysis

SCHB

Pros

Holds 2,380 stocks, adding mid and small caps beyond the S&P 500
Expense ratio of 0.03% matches VOO, or $3 a year per $10,000
Same top ten holdings as VOO, so large-cap exposure is nearly identical

Considerations

Far smaller fund at $44.42 billion versus $1.08 trillion for VOO
Dividend yield of 1.01% is marginally below VOO's 1.04%
The thousands of small holdings carry tiny weights and change little in practice

VOO

Pros

One of the largest ETFs in the world with $1.08 trillion in net assets
Tracks the S&P 500, the most widely followed US stock index
Expense ratio of 0.03%, among the lowest available for any equity fund

Considerations

Only 516 holdings, so mid and small caps are excluded
Top ten holdings such as NVIDIA and Apple make up around 38% of the fund
Newer than SCHB, with an inception date of September 2010

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About SCHB and VOO

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.

VOO (VOO)

VOO is Vanguard’s exchange-traded fund designed to track the S&P 500 Index, offering broad exposure to about 500 of the largest publicly traded US companies. It aims to replicate the index’s performance minus fees by holding the same stocks in similar proportions, making it a straightforward, passive way to access large‑cap US equities. Investors commonly use VOO as a core holding for long‑term growth or as a simple building block in a diversified portfolio. It typically offers high liquidity and regular dividend distributions from underlying companies. As with any equity investment, VOO’s value can rise or fall with the market, and past performance is not a guide to future returns. Fees, trading costs and potential tracking error reduce returns slightly. This information is general and educational only and not personalised financial advice — consider your own circumstances or speak to a qualified adviser before investing.

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SCHB vs VOO

Fund Snapshot