How do the fees of SCHX and VOO compare?

Both funds charge a 0.03% expense ratio, which is about $3 a year on a $10,000 investment. There is no fee difference between them. That makes the comparison about index construction, number of holdings, fund size and yield rather than cost, since both sit at the very low end of ETF pricing.

What index does each fund track?

SCHX tracks the Dow Jones US Total Stock Market Large-Cap index, which takes the largest US companies by market value and currently holds 750 stocks. VOO tracks the S&P 500, which selects around 500 large US companies using S&P's eligibility rules, and holds 516 positions. Both are market-cap weighted.

How much do SCHX and VOO overlap?

All 10 of the top holdings are the same: NVDA, AAPL, MSFT, AMZN, GOOGL, AVGO, GOOG, META, MU and TSLA. Weights are very close too, with NVDA at 7.69% in SCHX and 8.08% in VOO. The main difference is that SCHX adds roughly 230 more companies below the S&P 500 threshold.

Which fund pays a higher dividend yield?

VOO yields 1.04% and SCHX yields 1.00%, so the difference is very small. Both funds hold the same mega-cap technology companies that pay little or no dividend, which keeps yields low. Neither is an income product, and the gap is small enough that it is unlikely to drive a decision.

Which fund suits which goal?

SCHX suits investors who want a single fund covering a slightly wider slice of US large caps and who already use Schwab funds. VOO suits investors who want to match the S&P 500 exactly, which is the benchmark most often quoted in the news. In practice both deliver very similar US large-cap exposure.

How do size and liquidity compare?

VOO is much larger at about $1.08 trillion in net assets versus roughly $73.93 billion for SCHX. Both are large enough for tight spreads on retail trades. VOO's higher trading volume can matter for investors placing very large orders or trading at the open and close when spreads widen.

Can I hold both SCHX and VOO?

Yes, but the two funds hold largely the same companies at similar weights, so owning both adds little diversification. Some investors hold both across different accounts or to avoid wash-sale issues when tax-loss harvesting. As a portfolio building block, one of the two is usually enough.

How concentrated is each fund?

In SCHX the top holding NVDA is 7.69% and the top 10 total about 39%. In VOO NVDA is 8.08% and the top 10 total about 40%. SCHX's extra 234 holdings each have very small weights, so the concentration difference is real but modest. Both are dominated by US mega-cap technology.

Are there tax or account differences?

Both are US-listed ETFs and are treated the same way in most accounts. Non-US investors may face withholding tax on dividends from either fund. Because the yields are almost identical at 1.00% and 1.04%, the tax drag is effectively the same. Check how your local rules treat US-domiciled ETFs.

When was each fund launched?

SCHX launched on November 3, 2009, and VOO launched on September 7, 2010. Both have traded through several market cycles. SCHX is issued by Charles Schwab and VOO by Vanguard, two of the largest low-cost fund providers in the US.

SCHX vs VOO

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

SCHX and VOO both charge a 0.03% expense ratio and share the same top 10 holdings, but SCHX tracks the Dow Jones US Large-Cap index with 750 stocks while VOO tracks the S&P 500 with 516. Yields are close at 1.00% and 1.04%. SCHX suits investors who want slightly broader large-cap coverage, and VOO suits those who prefer the S&P 500 and a $1.08 trillion fund. Educational content, not financial advice.

SCHX and VOO both charge a 0.03% expense ratio and share the same top 10 holdings, but SCHX tracks the Dow Jones US Large-Cap index with 750 stocks while VOO tracks the S&P 500 with 516. Yields are cl...

Fund Snapshot

Key Fund Metrics

SCHX

Metric

VOO

0.03%

Expense Ratio

0.03%

1.00%

Dividend Yield

1.04%

$73.93B

Net Assets

$1.08T

750

Holdings

516

Nov 3, 2009

Inception Date

Sep 7, 2010

Dow Jones US Total Stock Market Large-Cap

Index Tracked

S&P 500

Large Blend

Fund Category

Large Blend

Both funds charge the same annual fee.

Shared Top Holdings

Holding	SCHX	VOO
NVDANVIDIA Corporation	7.69%	8.08%
AAPLApple Inc.	7.16%	7.03%
MSFTMicrosoft Corporation	5.35%	5.70%
AMZNAmazon.com, Inc.	3.56%	3.84%
GOOGLAlphabet Inc.	2.95%	3.01%
AVGOBroadcom Inc.	2.38%	2.65%
GOOGAlphabet Inc.	2.35%	2.40%
METAMeta Platforms, Inc.	2.17%	1.90%
MUMicron Technology, Inc.	1.60%	1.63%
TSLATesla, Inc.	1.49%	1.57%

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Investment Analysis

SCHX

Pros

Broader coverage with 750 holdings, reaching further into mid-sized US companies
Same 0.03% expense ratio as VOO, about $3 a year per $10,000
Slightly lower weight in the top name, NVDA at 7.69% versus 8.08%

Considerations

Smaller fund at about $73.93 billion compared with VOO's $1.08 trillion
Tracks a less widely followed index than the S&P 500
Dividend yield of 1.00% is marginally below VOO's 1.04%

VOO

Pros

Tracks the S&P 500, the most widely used US large-cap benchmark
About $1.08 trillion in assets with very high trading volume and tight spreads
Slightly higher dividend yield at 1.04% versus 1.00%

Considerations

Fewer holdings at 516, so less reach into smaller large caps
Marginally higher concentration in the top 10 names than SCHX
S&P 500 membership rules are committee based rather than purely mechanical

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About SCHX and VOO

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.

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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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.

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SCHX vs VOO

Fund Snapshot