HDV is a dividend-focused equity ETF from IShares, while SCHD is a dividend-focused equity ETF from Schwab. HDV and SCHD show meaningful overlap, with an estimated weighted overlap of 42.64%. They share 27 holdings in the loaded dataset, led by KO, CVX, and MRK.
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Quick Answer
HDV is a dividend-focused equity ETF from IShares, while SCHD is a dividend-focused equity ETF from Schwab. HDV and SCHD show meaningful overlap, with an estimated weighted overlap of 42.64%. They share 27 holdings in the loaded dataset, led by KO, CVX, and MRK.
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HDV is a dividend-focused equity ETF from IShares, while SCHD is a dividend-focused equity ETF from Schwab. HDV and SCHD overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as KO, CVX, and MRK, which explains why the score lands at 42.64%.
HDV is a dividend-focused equity ETF from IShares, while SCHD is a dividend-focused equity ETF from Schwab. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. SCHD has the lower expense ratio, while HDV charges more for its exposure.
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 26.89% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
Because HDV and SCHD are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. SCHD has the lower expense ratio, while HDV charges more for its exposure.
Concentration
The top three shared holdings explain 26.89% of the full overlap score.
That helps show whether the score comes from a handful of giant shared positions or from a broader mix of common holdings.
Shared Sector Tilt
Sector tags are not consistently available for the biggest shared positions in this dataset, so this comparison leans more on the specific holdings than on sector labels.
These are the holdings contributing the most to the overlap score between HDV and SCHD.
| Holding | Name | HDV Wt. | SCHD Wt. | Overlap |
|---|---|---|---|---|
| KO | COCA-COLA COMPANY (THE) | 3.86% | 3.96% | 3.86% |
| CVX | CHEVRON CORP | 6.42% | 3.83% | 3.83% |
| MRK | MERCK & COMPANY INC | 3.77% | 3.86% | 3.77% |
| PG | PROCTER & GAMBLE COMPANY (THE) | 4.46% | 3.55% | 3.55% |
| TXN | TEXAS INSTRUMENTS INC | 3.54% | 5.90% | 3.54% |
| PEP | PEPSICO INC | 3.66% | 3.44% | 3.44% |
| HD | HOME DEPOT INC (THE) | 4.07% | 3.36% | 3.36% |
| MO | ALTRIA GROUP INC | 3.70% | 2.94% | 2.94% |
| QCOM | QUALCOMM INC | 2.37% | 6.74% | 2.37% |
| BX | BLACKSTONE INC | 2.42% | 2.20% | 2.20% |
HDV is a dividend-focused equity ETF from IShares, while SCHD is a dividend-focused equity ETF from Schwab. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are KO, CVX, and MRK, which appear in both portfolios and push the overlap score higher.
Holding both HDV and SCHD can still be reasonable, but you should expect some duplication. The decision comes down to whether the non-overlapping parts of each ETF are important enough for your strategy.
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A straightforward approach used by portfolio analysts.
For every stock that appears in both ETFs, we take the smaller of the two weights. Adding up all those minimums gives the total overlap percentage. A score of 100% means the two ETFs hold the exact same stocks in the same proportions.
Want the full explanation? Read the methodology page.