What is an ETF expense ratio and how does it apply to SCHV and SPYV?

An expense ratio is the annual fee a fund charges to manage its assets, deducted from investors' returns. Both SCHV and SPYV have a low expense ratio of 0.04%. This means for every £100 invested, 4p is charged annually for management and administration. Identical fees simplify the comparison, allowing investors to focus on other factors like holdings and performance history, as cost is not a differentiating factor between these two specific funds.

How do the inception dates of SCHV and SPYV differ?

SCHV was launched on December 11, 2009, meaning it has been trading since then. In contrast, SPYV has a longer history, with an inception date of September 25, 2000. A longer inception date provides more historical data points for analysing performance across various market cycles. However, the difference in age does not necessarily imply one fund is safer, but it does mean SPYV offers a longer track record for retrospective analysis compared to SCHV.

What are the dividend yields for SCHV and SPYV?

SCHV currently offers a dividend yield of 1.79%, while SPYV offers a slightly lower yield of 1.69%. These figures represent the annual income paid by the fund relative to its share price, based on recent distributions. For income-focused investors, SCHV provides marginally more cash flow per unit invested. It is important to note that dividend yields are not fixed and can change based on market conditions, company dividends, and the fund's share price movements.

How do the total net assets of SCHV and SPYV compare?

SPYV manages significantly more assets, with net assets of $36.3 billion, compared to $16.9 billion for SCHV. Larger asset bases often suggest greater market adoption and can contribute to higher liquidity in the secondary market, potentially leading to tighter bid-ask spreads. While SCHV's $16.9 billion is substantial and supports stable liquidity, SPYV's larger size may appeal to institutional investors or those placing very large orders who prioritise deep liquidity.

Do SCHV and SPYV have overlapping top holdings?

Yes, the two funds share four companies in their top ten holdings: XOM, INTC, WMT, and CVX. This overlap indicates that both large-cap value strategies select similar blue-chip companies. However, the weightings and remaining holdings differ. For instance, AAPL is the largest holding in SPYV at 8.24%, whereas it is absent from SCHV's top ten, which is led by MU at 3.52%. This suggests divergent views on specific sectors or companies despite a shared 'Value' classification.

What information is available regarding the specific indexes tracked?

According to the available data, the specific index tracked by SCHV is not available for review. Similarly, the index tracked by SPYV is also listed as not available. Without explicit index details, it is difficult to assess the precise methodology or rebalancing criteria used. This lack of transparency limits the ability to predict how holdings might shift during market transitions. Investors should seek additional documentation if understanding the exact tracking mechanism is a priority.

Are sector weights provided for SCHV and SPYV?

No, sector weight data is unavailable for both SCHV and SPYV in the current dataset. The absence of sector weights makes it difficult to accurately assess the diversification and concentration risks inherent in each fund. For example, knowing whether a fund is heavily weighted towards Energy or Financials is crucial for managing portfolio risk. Without this data, investors must rely on top holdings to infer sector exposure, which provides only a partial picture of the overall distribution.

How does the concentration risk differ between the two funds?

SPYV holds a significant 8.24% of its assets in a single stock, AAPL. This concentration can drive performance more heavily based on one company's movement. In comparison, SCHV's largest holding, MU, represents only 3.52% of the portfolio. While both are considered diversified value funds, SPYV exhibits higher top-position concentration based on the provided data. Investors concerned about single-stock risk might view SCHV's more distributed top holdings as having lower immediate concentration in any one name.

Which fund has a more diverse top-10 list of holdings?

SCHV lists MU, JPM, BRK.B, XOM, JNJ, INTC, WMT, ABBV, CSCO, and CVX in its top ten. SPYV lists AAPL, AMZN, XOM, INTC, WMT, CVX, COST, TSLA, BAC, and MRK. While they share four holdings, the remaining six are entirely different. This divergence means that despite similar expense ratios and categories, the underlying business exposures vary significantly. Practical due diligence requires comparing these specific companies to determine which aligns better with an investor's existing portfolio or desired exposure.

What should beginners check when comparing these ETFs?

Beginners should look at the net assets, expense ratios, and top holdings. Both funds have identical 0.04% fees, so fees are not a deciding factor here. SPYV has larger assets ($36.3bn vs $16.9bn) and a longer history (2000 vs 2009). However, data on tracked indexes and sector weights is unavailable for both, requiring external research. Comparing the top holdings shows different largest positions (AAPL vs MU). These practical differences impact portfolio construction.

Is one fund definitively better based on the provided data?

The provided data does not declare one fund as superior. SPYV offers a longer track record and higher assets under management, which can imply stability and liquidity. SCHV provides a marginally higher dividend yield (1.79% vs 1.69%) and a slightly different top-holding concentration. The lack of index and sector data for both prevents a full risk assessment. Therefore, the choice depends on whether an investor prioritises the specific holdings overlap, historical length, or liquidity, rather than one being objectively 'better' than the other.

What is the educational disclaimer regarding these comparisons?

This comparison is for educational purposes only and does not constitute financial advice. The data provided is based on figures as of 22 September 2026 and may change over time. Investors should conduct their own thorough research or consult with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results, and the absence of certain data points like sector weights means some risks may not be fully visible in this overview.

SCHV vs SPYV

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

Compare Schwab US Large-Cap Value ETF (SCHV) and SPDR Portfolio S&P 500 Value ETF (SPYV). Both charge 0.04% in expenses and focus on large-cap value stocks. This page examines their fees, top holdings, dividend yields, and how each fund tracks its respective index, based on the latest available data. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SCHV

Metric

SPYV

0.04%

Expense Ratio

0.04%

1.79%

Dividend Yield

1.69%

$16.91B

Net Assets

$36.32B

559

Holdings

438

Dec 11, 2009

Inception Date

Sep 25, 2000

–

Index Tracked

–

Large Value

Fund Category

Large Value

Both funds charge the same annual fee.

Shared Top Holdings

Holding	SCHV	SPYV
XOMExxonMobil Holdings Corporation	2.16%	2.26%
INTCIntel Corporation	1.72%	1.81%
WMTWalmart Inc.	1.50%	1.60%
CVXChevron Corporation	1.26%	1.39%

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Investment Analysis

SCHV

Pros

Schwab's large-cap value ETF charges a low expense ratio of 0.04%, reducing annual costs.
The fund holds 16.9 billion dollars in net assets, supporting stable liquidity and trading.
It offers a 1.79% dividend yield, providing modest income for investors.

Considerations

The specific index tracked by the fund is not available for review.
Sector weight data is unavailable, limiting detailed analysis of the fund's holdings distribution.
Since its inception in 2009, it has a shorter track record than some funds.

SPYV

Pros

SPDR's fund also charges a 0.04% expense ratio, ensuring low annual costs.
It manages a substantial 36.3 billion dollars in net assets, indicating strong market trust.
The fund has existed since 2000, offering a long-term performance history.

Considerations

Information about the index tracked is not available, limiting transparency.
Sector weights are not provided, making it difficult to assess diversification accurately.
The fund holds a significant 8.24% in one stock, potentially concentrating risk.

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About SCHV and SPYV

SCHV (SCHV)

SCHV (Schwab US Large‑Cap Value ETF) is an exchange‑traded fund that seeks to track the Dow Jones U.S. Large‑Cap Value Total Stock Market Index, providing diversified exposure to large‑capitalisation U.S. companies classified as value stocks. Managed by Charles Schwab, the ETF is designed for passive, cost‑efficient investing and typically offers regular income through dividends. It can serve as a way to tilt a portfolio toward value characteristics—such as lower valuation multiples or higher dividend yields—rather than growth. Investors should note that ETFs are pooled instruments (so a single market‑cap figure for the ETF itself is not applicable in the same way as for a company), and performance depends on the underlying index and market conditions. Value styles can underperform growth for extended periods and returns are not guaranteed. This summary is educational only and not personalised financial advice; suitability depends on individual objectives and risk tolerance.

SPYV (SPYV)

The SPDR Portfolio S&P 500 Value ETF is designed to provide investors with exposure to large-capitalisation companies that are considered value-oriented. This fund seeks to track the performance of the S&P 500 Value Index, which includes a subset of the broader S&P 500 index. With a very low expense ratio of 0.04%, it is an affordable option for those looking to diversify their portfolios. The fund holds 438 different stocks and currently has net assets of USD 36.32 billion. Investors should note that while the fund has a dividend yield of 1.69%, there is no guarantee of returns, and the value of investments can fluctuate. It is important to consider your own risk tolerance and investment objectives before making any investment decisions.

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SCHV vs SPYV

Fund Snapshot