Guardfolio Research · ETF Concentration
SCHD ETF Concentration: Top 10 Holds 42.2%
SCHD (Schwab US Dividend Equity ETF) has an HHI of 292.97 and about 34.13 effective positions as of 2026-08-22. The largest holding is about 4.9%; the Top 10 sum to 42.2%, led by ABT, MRK, AMGN, KO, CVX. SCHD is often treated as a defensive diversifier; Top 10 weight still shows how much of the fund sits in a short list.
Concentration Snapshot
Band
Moderate concentration versus the Guardfolio 22-fund ETF set. Peer context: VGT HHI 750.94; XLK HHI 590.81; VUG HHI 565.32.
The Data
SCHD top holdings and concentration math
Weights are normalized from licensed full holdings. HHI is the sum of squared percentage weights. Effective positions = 10,000 / HHI. This page is part of Guardfolio's concentration cluster, separate from ETF overlap pair pages.
| Provider | Financial Modeling Prep |
|---|---|
| Fund date | 2026-08-22 |
| Holdings counted | 100 |
| Top 3 / Top 5 | 14.4% / 22.7% |
| Holding | Weight |
|---|---|
| ABBOTT LABORATORIES (ABT) | 4.9% |
| MERCK & CO INC (MRK) | 4.8% |
| AMGEN INC (AMGN) | 4.8% |
| COCA-COLA (KO) | 4.3% |
| CHEVRON (CVX) | 4.0% |
| CONOCOPHILLIPS (COP) | 4.0% |
| HOME DEPOT (HD) | 4.0% |
| VERIZON COMMUNICATIONS INC (VZ) | 3.9% |
| UNITEDHEALTH GROUP INC (UNH) | 3.8% |
| PROCTER & GAMBLE (PG) | 3.8% |
Educational snapshot only. Holdings and weights change. HHI does not measure return correlation or future risk.
Why it matters
Concentration vs overlap for SCHD holders
SCHD is often treated as a defensive diversifier; Top 10 weight still shows how much of the fund sits in a short list. If you also hold QQQ, VUG, IWF or a megacap stock, look-through exposure can stack even when fund labels look different. After this page, check pairwise overlap and the portfolio concentration calculator.
ETF overlap checker · Concentration risk hub · Portfolio X-Ray
FAQ
SCHD concentration: common questions
How concentrated is SCHD?
SCHD has an HHI of 292.97 and about 34.13 effective positions based on licensed full holdings dated 2026-08-22. The largest holding is about 4.9% and the Top 10 holdings sum to about 42.2%.
What are the largest holdings in SCHD?
The largest contributors include ABBOTT LABORATORIES (ABT) 4.9%; MERCK & CO INC (MRK) 4.8%; AMGEN INC (AMGN) 4.8%; COCA-COLA (KO) 4.3%; CHEVRON (CVX) 4.0%; CONOCOPHILLIPS (COP) 4.0%; HOME DEPOT (HD) 4.0%; VERIZON COMMUNICATIONS INC (VZ) 3.9%.
Is SCHD more concentrated than the S&P 500?
Yes on this snapshot. SCHD's HHI of 292.97 sits above broad S&P 500 wrappers in the Guardfolio 22-fund set. Compare Top 10 weight (42.2%) with SPY/VOO on the concentration benchmarks page.
Does concentration mean SCHD overlaps with other ETFs?
Concentration measures how much weight sits in a few names inside one fund. Overlap measures shared holdings across two funds. A concentrated ETF can still pair badly with another fund that owns the same megacaps. Check the ETF overlap checker after you review concentration.
Related concentration pages