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ETF Overlap Tool: VOO vs SCHD

Compare portfolio holdings overlap, tech concentration risk, and expense ratio differences between Vanguard S&P 500 ETF (VOO) and Invesco QQQ Trust (QQQ).

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ETF Overlap Overview & Key Metrics
VOO (49 Total) SCHD (49 Total) ONLY IN VOO 41 Stocks (58.3% Weight) LOW HOLDINGS OVERLAP 8 Shared Stocks (16.3%) 3.90% Weight Duplication ONLY IN SCHD 41 Stocks (62.2% Weight)
Weight Overlap
3.90%
Low Portfolio Duplication
Expense Ratios
0.03% vs 0.06%
VOO is 0.03% Cheaper ($30/yr per $100k)
Unique Stocks
41 vs 41
Complementary Asset Allocation
Sector Allocation Breakdown
Information Technology
38.72%
Financials
12.02%
Communication Services
9.51%
Consumer Discretionary
9.31%
Healthcare
9.29%
Industrials
7.75%
Consumer Staples
4.46%
Energy
3.48%
Utilities
1.99%
Real Estate
1.80%
Materials
1.68%
Consumer Staples
19.81%
Healthcare
18.83%
Information Technology
16.57%
Energy
15.59%
Financials
9.16%
Industrials
7.31%
Consumer Discretionary
6.68%
Communication Services
5.97%
Utilities
0.09%

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Stock Holdings Breakdown (VOO vs SCHD)

73 Assets
Asset Sector VOO Weight SCHD Weight Combined (50/50) Status
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Showing 1 to 20 of 73 holdings

VOO vs SCHD ETF Overlap Analysis & Fund Duplication

When pairing market-cap weighted broad market funds with factor dividend funds, analyzing portfolio duplication is vital. The Snowball Analytics ETF Overlap Tool reveals that Vanguard S&P 500 ETF (VOO) and Schwab U.S. Dividend Equity ETF (SCHD) exhibit a remarkably low overlap weight of just 3.90%.

Key Portfolio Overlap Metrics:

  • Shared Company Holdings: Only 8 stocks (such as Chevron, Texas Instruments, Procter & Gamble, Coca-Cola, and Merck) appear in both portfolios out of 90 combined unique positions.
  • Low Duplication Severity: Because SCHD selects dividend-paying companies based on cash flow and yield metrics rather than market capitalization alone, 41 stocks remain exclusive to VOO and 41 stocks are unique to SCHD.
  • Concentration Risk Mitigation: Combining VOO and SCHD provides excellent factor diversification without creating excessive single-stock concentration risk.

Strategic Portfolio Recommendation

With an overlap weight under 5%, holding both VOO and SCHD creates a highly complementary core-and-satellite portfolio. VOO delivers core S&P 500 capital appreciation, while SCHD provides reliable cash flow yield and value tilt.

Expense Ratio Comparison & Long-Term Compounding

Both Vanguard and Schwab are industry leaders in low-cost index investing:

1. Annual Fund Fee Structure

VOO charges an ultra-low expense ratio of 0.03% ($3 annually per $10,000 invested), while SCHD charges 0.06% ($6 annually per $10,000 invested). Over a 30-year investment horizon, both funds maintain minimal fee drag.

2. Sector Complementarity

VOO is heavily allocated toward Information Technology (38.7%), Financials (12.0%), and Communication Services (9.5%). In contrast, SCHD prioritizes Consumer Staples (19.8%), Healthcare (18.8%), and Energy (15.6%), balancing technology volatility with defensive yield.

Snowball Portfolio Lab

Want to model how blending VOO and SCHD in different ratios impacts your overall dividend yield and total returns? Test your target mix in the Snowball Analytics Portfolio Lab.

Frequently Asked Questions: VOO vs SCHD ETF Overlap
What is the overlap percentage between VOO and SCHD?
The portfolio overlap by weight between VOO and SCHD is approximately 3.90%. Out of 90 combined unique stock holdings, only 8 stocks are shared between both funds.
Can I hold both VOO and SCHD in my investment portfolio?
Yes. Because VOO and SCHD have a low overlap weight of 3.90%, owning both funds provides complementary exposure to market-cap growth (S&P 500) and high-quality dividend growth stocks.
Which ETF has lower expense fees: VOO or SCHD?
VOO has a lower expense ratio at 0.03% per year compared to SCHD at 0.06% per year. Both management fees are among the lowest in the ETF industry.
What top stocks are shared between VOO and SCHD?
Top shared holdings in both VOO and SCHD include Chevron (CVX), Texas Instruments (TXN), Procter & Gamble (PG), Coca-Cola (KO), UnitedHealth Group (UNH), Merck (MRK), Home Depot (HD), and Amgen (AMGN).
How do sector weightings differ between VOO and SCHD?
VOO is technology-focused with 38.7% allocated to Information Technology. SCHD focuses on defensive cash-flow sectors, allocating 19.8% to Consumer Staples, 18.8% to Healthcare, and 15.6% to Energy.
Is the Snowball Analytics ETF Overlap Tool free?
Yes. The Snowball Analytics ETF Overlap Tool is completely free to use for calculating fund holdings duplication, sector weightings, and expense ratios.