SCHV vs VOO Overlap
SCHV is a U.S. value equity ETF from Schwab, while VOO is a U.S. large-cap core ETF from Vanguard. SCHV and VOO show meaningful overlap, with an estimated weighted overlap of 43.14%. They share 378 holdings in the loaded dataset, led by JPM, XOM, and JNJ.
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Quick Answer
SCHV is a U.S. value equity ETF from Schwab, while VOO is a U.S. large-cap core ETF from Vanguard. SCHV and VOO show meaningful overlap, with an estimated weighted overlap of 43.14%. They share 378 holdings in the loaded dataset, led by JPM, XOM, and JNJ.
- 43.14% weighted overlap across 378 shared holdings.
- The top three shared holdings explain 7.59% of the measured overlap.
- SCHV and VOO 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
- SCHV holdings
- Mar 12, 2026
- VOO 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
SCHV is a U.S. value equity ETF from Schwab, while VOO is a U.S. large-cap core ETF from Vanguard. SCHV and VOO overlap enough to matter, but they still bring different exposures to a portfolio. The overlap is concentrated in holdings such as JPM, XOM, and JNJ, which explains why the score lands at 43.14%.
How They Differ
SCHV is a U.S. value equity ETF from Schwab, while VOO is a U.S. large-cap core ETF from Vanguard. Neither fund clearly dominates on breadth, so the practical difference is more about weighting, index construction, and cost. VOO has the lower expense ratio, while SCHV 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 7.59% 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 SCHV and VOO are closer in breadth, the better fit usually comes down to index methodology, issuer preference, and cost. VOO has the lower expense ratio, while SCHV charges more for its exposure.
Overlap Driver Snapshot
Concentration
The top three shared holdings explain 7.59% 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 SCHV and VOO.
| Holding | Name | SCHV Wt. | VOO Wt. | Overlap |
|---|---|---|---|---|
| JPM | JPMORGAN CHASE | 2.75% | 1.34% | 1.34% |
| XOM | EXXON MOBIL CORP | 2.19% | 1.01% | 1.01% |
| JNJ | JOHNSON & JOHNSON | 2.06% | 0.92% | 0.92% |
| WMT | WALMART INC | 1.92% | 0.88% | 0.88% |
| MU | MICRON TECHNOLOGY INC | 1.58% | 0.79% | 0.79% |
| ABBV | ABBVIE INC | 1.41% | 0.67% | 0.67% |
| HD | HOME DEPOT INC | 1.25% | 0.63% | 0.63% |
| PG | PROCTER & GAMBLE | 1.28% | 0.60% | 0.60% |
| BAC | BANK OF AMERICA CORP | 1.14% | 0.59% | 0.59% |
| CVX | CHEVRON CORP | 1.24% | 0.56% | 0.56% |
Why These ETFs Overlap
SCHV is a U.S. value equity ETF from Schwab, while VOO is a U.S. large-cap core ETF from Vanguard. The overlap exists because both funds allocate meaningful weight to the same holdings. In this dataset, the biggest shared drivers are JPM, XOM, and JNJ, which appear in both portfolios and push the overlap score higher.
Holding both SCHV and VOO 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 SCHV and VOO
What is the overlap between SCHV and VOO?+
How many holdings do SCHV and VOO share?+
Is the SCHV and VOO overlap high?+
Why do SCHV and VOO overlap?+
Which ETF is broader, SCHV or VOO?+
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.