What is the primary difference in expense ratios between SCHX and SPY?

The SCHX fund has an expense ratio of 0.03%, whereas the SPY fund has an expense ratio of 0.09%. This represents a 0.06 percentage point difference in annual fees. Expense ratios are deducted from the fund's assets daily, meaning lower fees generally result in slightly higher net returns for investors, assuming all other factors remain equal. Both funds operate as exchange-traded funds, but the fee structure is a key comparative metric. Investors often evaluate these costs to understand the ongoing operational fees attached to holding the respective ETF shares, noting that SCHX charges significantly less annually than its SPY counterpart.

How do inception dates and net assets differ for SCHX and SPY?

SPY was launched on 22 January 1993 and currently holds net assets of $785.0 billion, while SCHX launched later on 3 November 2009 with net assets of $73.9 billion. These metrics highlight the historical track record and current scale of each fund. A longer inception date allows for more extensive performance data, while higher net assets often indicate greater liquidity and trading volume. SCHX is a newer entity with substantial but smaller assets compared to SPY, which remains one of the largest ETFs globally. These factors provide context on the maturity and size of each investment vehicle.

What index do SCHX and SPY track and how do their exposures compare?

Both SCHX and SPY are categorised as Large Blend ETFs, targeting US large-cap stocks. However, the specific index tracked for each is listed as not available in the current dataset. SPY is widely known to track the S&P 500, and SCHX tracks the Schwab US Large-Cap Index. While the provided data does not explicitly confirm the index names, the category suggests both offer broad exposure to the large-cap segment of the US equity market. Investors should note that despite similar asset classes, their underlying methodologies and constituent selection criteria may vary slightly, influencing how each fund replicates its target index performance.

What is the overlap in the top holdings of SCHX and SPY?

Both funds exhibit significant overlap in their top ten holdings. The shared list includes NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, Meta, Micron Technology, and Tesla. This concentration indicates that both ETFs are heavily weighted towards major technology and consumer discretionary companies. The weightings differ slightly: for instance, NVIDIA constitutes 8.16% of SPY but 7.69% of SCHX, while Apple accounts for 7.44% and 7.16% respectively. Despite minor variations in percentage weights, the identity of the largest holdings is identical, reflecting the dominance of these mega-cap firms within the US large-cap universe that both funds seek to emulate.

How do the dividend yields of SCHX and SPY compare?

The dividend yield for SCHX is recorded at 0.99%, while SPY stands at 0.98%. These figures are nearly identical, suggesting comparable income generation potential relative to the current share price. Dividend yields fluctuate based on both the underlying companies' payout decisions and the fund's share price movements. For investors focused on income, both funds offer similar yield profiles derived from the same pool of large-cap US equities. The slight difference is minimal and may not significantly impact total return over the short term. It reflects the aggregate dividends of the holding companies rather than a specific strategy difference between the fund issuers.

What are the differences in issuer names for SCHX and SPY?

SCHX is issued by Schwab, a major financial services provider, while SPY is issued by SPDR, which stands for Standard & Poor's Depositary Receipts. The issuer can influence operational aspects such as tax management strategies and trading infrastructure. Schwab is often associated with cost-efficient investing for retail clients, reflected in its low expense ratio. SPDR is historically significant as the provider of the first US-listed ETF. Both issuers maintain high reputation and regulatory compliance, but the naming distinction helps investors identify the specific financial institutions responsible for the fund's administration, custody, and regulatory oversight in the securities market.

Are sector weights available for SCHX and SPY in this dataset?

The current dataset does not provide specific sector weight breakdowns for either SCHX or SPY; both fields are listed as 'not available'. Typically, these large blend ETFs would have significant allocations to technology and communication services, given their top holdings. However, without explicit sector data in this comparison, it is impossible to quantify the exact percentage allocated to each industry. This information gap means investors cannot directly compare the sector risk concentration between the two funds using only these figures. Detailed sector analysis would require consulting additional data sources or the funds' full fact sheets to understand their structural positioning within the market.

What are the specific holding weights for NVIDIA in SCHX and SPY?

NVIDIA is the largest holding in both funds. It represents 8.16% of SPY's portfolio, compared to 7.69% in SCHX. This difference indicates that while both funds are heavily exposed to NVIDIA, SPY has a slightly larger concentration in this particular stock. High concentration in a single holding can increase correlation with that stock's performance. Investors comparing the funds should note that such slight variances in top holdings weights are common and may stem from differences in the exact index construction or rebalancing methodologies. The absolute difference is less than half a percentage point, but it reflects the precision required in fund tracking.

How does the net asset value difference impact trading considerations?

SPY has significantly higher net assets at $785.0 billion compared to SCHX's $73.9 billion. Higher net assets generally correlate with higher liquidity and tighter bid-ask spreads, which are beneficial for active traders. The massive scale of SPY makes it one of the most liquid securities globally. While SCHX is also large and liquid, the sheer volume in SPY might offer better execution prices for very large institutional orders. For average retail investors, both funds are highly tradeable, but the asset disparity is a key factor in assessing market depth and potential slippage during volatile trading periods.

Disclaimer: Is this information financial advice?

This content is strictly for educational purposes and does not constitute financial advice, investment recommendations, or solicitation to buy or sell securities. All data, including expense ratios, net assets, and holding weights, is derived from provided sources and may change over time. Investors should conduct their own research or consult with a qualified financial professional before making investment decisions. Past performance is not indicative of future results. We encourage careful analysis of your personal financial situation, risk tolerance, and investment objectives before selecting an investment vehicle.

SCHX vs SPY

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

Compare SCHX (US Large-Cap ETF Schwab) and SPY (S&P 500 ETF Trust SPDR). Explore fees, holdings, dividends, and tracking methods. Educational content, not financial advice.

Fund Snapshot

Key Fund Metrics

SCHX

Metric

SPY

0.03%

Expense Ratio

0.09%

0.99%

Dividend Yield

0.98%

$73.93B

Net Assets

$785.05B

750

Holdings

505

Nov 3, 2009

Inception Date

Jan 22, 1993

–

Index Tracked

–

Large Blend

Fund Category

Large Blend

SCHX costs about $6.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	SCHX	SPY
NVDANVIDIA Corporation	7.69%	8.16%
AAPLApple Inc.	7.16%	7.44%
MSFTMicrosoft Corporation	5.35%	5.56%
AMZNAmazon.com, Inc.	3.56%	3.78%
GOOGLAlphabet Inc.	2.95%	3.11%
AVGOBroadcom Inc.	2.38%	2.58%
GOOGAlphabet Inc.	2.35%	2.48%
METAMeta Platforms, Inc.	2.17%	2.23%
MUMicron Technology, Inc.	1.60%	1.74%
TSLATesla, Inc.	1.49%	1.56%

Discover More Comparisons

SCHX vs VOO

Compare SCHX and VOO: both charge 0.03%, but SCHX holds 750 US large caps vs 516 in the S&P 500. See the shared top 10, 1.00% vs 1.04% yield and fund size.

SCHX vs VTI

Compare SCHX and VTI. Review expense ratios, net assets, dividend yields, and top holdings. Understand index tracking and concentration risks clearly.

SCHX vs SPYM

Compare SCHX and SPYM ETFs. Analyse 0.03% vs 0.02% expense ratios, top holdings, dividend yields and tracking differences for US large-cap equity exposure.

Investment Analysis

SCHX

Pros

], [ ], [

Considerations

SPY

Pros

], [ ], [

Considerations

Related Market Insights

Capital Returns: The Shareholder Yield Play

Explore Capital Returns, a Neme focused on companies rewarding shareholders via buybacks & dividends. Invest in robust firms like Schwab with Nemo's thematic baskets.

Aimee Silverwood | Financial Analyst

25 July 2025

Read Insight

Related Market Insights

Capital Returns: The Shareholder Yield Play

Explore Capital Returns, a Neme focused on companies rewarding shareholders via buybacks & dividends. Invest in robust firms like Schwab with Nemo's thematic baskets.

Aimee Silverwood | Financial Analyst

25 July 2025

Read Insight

About SCHX and SPY

SCHX (SCHX)

Schwab US Large‑Cap ETF (SCHX) offers broad exposure to the largest US companies through a single, passively managed fund. It aims to replicate the performance of a large‑cap US equity index, providing diversified access to established names across multiple sectors. SCHX is positioned as a low‑cost core equity holding for investors seeking market‑capitalisation‑weighted large‑cap returns, and it trades on exchanges like a stock. Advantages include simplicity, intraday liquidity and typically lower fees than many active managers. However, like all equity ETFs, its value fluctuates with the market and past performance does not predict future results. SCHX may suit investors looking for long‑term US large‑cap exposure within a diversified portfolio, but it is general information only and not personalised investment advice—suitability depends on individual goals, time horizon and risk tolerance.

SPY (SPY)

SPDR S&P 500 ETF Trust (SPY) is an exchange‑traded fund designed to track the S&P 500 index, offering investors broad exposure to large‑capitalisation US equities. It is widely used by retail and institutional investors for core portfolio allocation, tactical trading and hedging because of its deep liquidity and transparent holdings. SPY distributes dividends (typically quarterly) and reflects the performance of the underlying index, so returns move with the US large‑cap market. As with any equity product, value can fall as well as rise and past performance is not a guide to the future. Costs, tax considerations and suitability will depend on an individual’s circumstances; consult official documents and consider seeking independent advice where appropriate. This summary is general educational information and not personalised investment advice.

Which Baskets Do They Appear In?

Capital Returns: The Shareholder Yield Play

Following Charles Schwab's massive $20 billion stock buyback and dividend increase, this theme focuses on other financially robust companies that are similarly rewarding their investors. The strategy is to invest in firms with strong cash flows and a commitment to returning capital to shareholders.

Published: 25 July 2025

Explore Basket

Which Baskets Do They Appear In?

Capital Returns: The Shareholder Yield Play

Following Charles Schwab's massive $20 billion stock buyback and dividend increase, this theme focuses on other financially robust companies that are similarly rewarding their investors. The strategy is to invest in firms with strong cash flows and a commitment to returning capital to shareholders.

Published: 25 July 2025

Explore Basket

SCHX vs SPY

Fund Snapshot