HDV vs SCHD Overlap
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 36.59%. They share 22 holdings in the loaded dataset, led by CVX, KO, and PEP.
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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 36.59%. They share 22 holdings in the loaded dataset, led by CVX, KO, and PEP.
- 36.59% weighted overlap across 22 shared holdings.
- The top three shared holdings explain 33.67% of the measured overlap.
- HDV and SCHD are closer in breadth than a broad-vs-niche ETF pair.
- The overlap is mostly explained by the top shared positions rather than sector labels alone.
- Holding both may add less diversification than the fund names imply.
Data Freshness
- HDV holdings
- Mar 12, 2026
- SCHD holdings
- Mar 12, 2026
- Overlap computed
- Mar 13, 2026
- Data source
- Financial Modeling Prep
Review the methodology for the overlap formula and refresh policy.
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About These ETFs
What Stands Out In This Comparison
What This Means
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 CVX, KO, and PEP, which explains why the score lands at 36.59%.
How They Differ
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.
What Drives The Overlap
The overlap is driven by a relatively small set of large shared positions. The top three shared holdings account for 33.67% of the score, which means the result is heavily influenced by the biggest common weights rather than a long tail of tiny positions.
When One May Fit Better
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.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 33.67% 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.
Top Shared Holdings
These are the holdings contributing the most to the overlap score between HDV and SCHD.
| Holding | Name | HDV Wt. | SCHD Wt. | Overlap |
|---|---|---|---|---|
| CVX | CHEVRON CORP | 7.60% | 4.43% | 4.43% |
| KO | COCA-COLA | 4.20% | 3.97% | 3.97% |
| PEP | PEPSICO INC | 4.09% | 3.92% | 3.92% |
| MO | ALTRIA GROUP INC | 3.91% | 4.15% | 3.91% |
| HD | HOME DEPOT INC | 4.44% | 3.60% | 3.60% |
| ABBV | ABBVIE INC | 5.60% | 3.56% | 3.56% |
| CSCO | CISCO SYSTEMS INC | 3.02% | 3.61% | 3.02% |
| TXN | TEXAS INSTRUMENT INC | 2.68% | 3.90% | 2.68% |
| COP | CONOCOPHILLIPS | 2.42% | 4.49% | 2.42% |
| EOG | EOG RESOURCES INC | 1.22% | 2.57% | 1.22% |
Why These ETFs Overlap
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 CVX, KO, and PEP, 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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Frequently Asked Questions About HDV and SCHD
What is the overlap between HDV and SCHD?+
How many holdings do HDV and SCHD share?+
Is the HDV and SCHD overlap high?+
Why do HDV and SCHD overlap?+
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How Overlap Is Calculated
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.