SCHD top 5 holdings
- Texas Instruments Inc. (TXN) — 6.07%
- QUALCOMM Inc. (QCOM) — 5.48%
- UnitedHealth Group Inc. (UNH) — 5.45%
- The Coca-Cola Company (KO) — 4.11%
- Chevron Corp. (CVX) — 4%
Guardfolio Research · ETF Overlap
SCHD vs VOO Overlap: 0% Top-10 Weight, Different Factor Exposure
SCHD and VOO share none of their top 10 holdings. VOO's top names are mega-cap technology (Nvidia, Apple, Microsoft, Amazon). SCHD's are dividend-quality value names (Chevron, Pepsi, Procter & Gamble, Verizon). The two funds target different factors and the absence of top-10 overlap reflects that — pairing them is one of the cleaner ways to broaden US large-cap exposure beyond the S&P 500's mega-cap tilt.
Overlap Summary
Weight Overlap0%
Shared Top-100 of 10
Overlap LevelLow
UpdatedMay 2026
Bottom line
SCHD genuinely diversifies an S&P 500 position.
The Data
SCHD and VOO: no shared top-10 holdings
None of SCHD's top 10 holdings appear in VOO's top 10. The two funds are led by entirely different names, reflecting their different selection rules.
VOO top 5 holdings
- NVIDIA Corp. (NVDA) — 7.84%
- Apple Inc. (AAPL) — 6.44%
- Microsoft Corp. (MSFT) — 4.89%
- Amazon.com, Inc. (AMZN) — 4.19%
- Alphabet Inc. (GOOGL) — 3.62%
Overlap of 0% reflects top-10 holdings only. The funds may share some holdings in the long tail of smaller positions, but those positions contribute little to either fund's return profile.
See your real SCHD + VOO overlap
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Sector Concentration
What the combination does to your sector mix
VOO and SCHD invest in mostly different sectors at the top. VOO is technology-heavy by design (S&P 500 weights). SCHD's dividend-quality screen tilts it toward Consumer Staples, Energy, and Healthcare:
VOO top sectors
Technology ~33%, Financial Services ~12%, Consumer Discretionary ~10%. Mega-cap growth driven.
SCHD top sectors
Consumer Staples ~19%, Energy ~19%, Healthcare ~16%. Defensive and dividend-tilted.
50/50 SCHD + VOO blend
Tech drops from 33% to ~17%, Staples + Energy rise to ~19%. Smoother sector profile, less mega-cap concentration.
Key Distinction
SCHD vs VOO: what is actually different
The table below summarises the structural differences that drive each fund's behaviour beyond the headline overlap number.
| VOO | SCHD | |
|---|---|---|
| Strategy | S&P 500 (market-cap) | Dividend Quality Screen |
| Number of holdings | ~500 | ~100 |
| Top sector | Technology ~33% | Consumer Staples ~19% |
| Top-10 weight | ~38% | ~44% |
| Dividend yield (approx) | ~1.3% | ~3.6% |
| Expense ratio | 0.03% | 0.06% |
| Main use case | Broad market core | Dividend / value tilt |
Practical Implications
When does this overlap actually matter?
In a tech-led bull market
VOO leads, SCHD lags. The blend underperforms a VOO-only portfolio when mega-cap growth is doing the heavy lifting. This is the cost of factor diversification.
In a value rotation
SCHD outperforms. The defensive Staples + Healthcare names hold up while VOO's mega-cap tech leadership reverses. The blend reduces drawdown.
In an inflation surge
SCHD's Energy and Staples weightings tend to hold real value better than VOO's tech-heavy mix. Factor diversification turns into outright protection.
In a flat market
SCHD's ~3.6% dividend yield delivers a higher cash return than VOO's ~1.3%. The blend's yield lands between the two.
Alternatives
What pairs differently with SCHD
SCHD + VOO (this pair)
Two distinct factor bets within US large-cap. 0% top-10 overlap, complementary sectors, different yield profiles. The reference pair for factor diversification within a single market.
VOO + IWM (0% overlap)
If you want size diversification rather than factor diversification, IWM (small-caps) overlaps with VOO at 0% as well — but tracks a different market segment entirely.
VOO + VEA (0% overlap)
For geographic diversification, VEA (developed international) has 0% overlap with VOO. Different from SCHD because it adds non-US exposure on top of US large-cap.
Frequently Asked Questions
SCHD vs VOO overlap — common questions
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