SCHA vs VTWO: Grades, Fees and Holdings Compared

Schwab U.S. Small-Cap ETF

SCHAANYSE Arca

Vanguard Russell 2000 ETF

VTWOANasdaq

Overlap

66.3%by weight

Expense ratio

SCHA −0.03pt a year

SCHA0.03%VTWO0.06%

Avg volume · 30D

SCHA 2.1×the volume

SCHA3.06MVTWO1.45M

10Y return · a year

SCHA +0.1pt

SCHA+10.6%VTWO+10.5%

SCHA vs VTWO Performance

Oct 29, 2021 – Oct 30, 2026

+35.3%SCHA+31.3%VTWO

Expense ratio: SCHA 0.03%, better; VTWO 0.06%
Fund size: SCHA $22B; VTWO $17.3B
1Y total return: SCHA +18.9%, better; VTWO +14.8%
Yield (12M): SCHA 1.12%; VTWO 1.20%, better
Holdings: SCHA 1743; VTWO 2000
Avg volume (30D): SCHA 3.06M sh, better; VTWO 1.45M sh
NAV per share: SCHA $33.00; VTWO $112.88
52W range

ETF.net Grade

Pillar letters and Scores for SCHA, VTWO, with each pillar’s weight
Pillar	SCHA	VTWO
Cost30% weight	A91Higher	A75
Mission25% weight	A95	A100Higher
Risk15% weight	C40Higher	D34
Tradability15% weight	A86Higher	C54
Holdings10% weight	A81Higher	A70
Durability5% weight	A77	A83Higher

Rank among US Small-Cap funds

How we build Categories ›

Same Category. SCHA and VTWO are both graded against the same 16 US Small-Cap funds, so their Grades compare head to head.

US Small-Cap⁠

Category · 16 funds

See all 16 ›

SCHA ranks 1st and VTWO 4th of 16 funds in the US Small-Cap Category.

Rank 1ASCHASchwab U.S. Small-Cap ETFScore 81
Rank 2AVBVanguard Morningstar Small-Cap ETFScore 77
Rank 3ABKSEBNY Mellon US Small Cap Core Equity ETFScore 72
Rank 4AVTWOVanguard Russell 2000 ETFScore 71
Rank 5ASMMDiShares Russell 2500 ETFScore 69

Our read on each fund

ETF.net Research

SCHAASchwab U.S. Small-Cap ETF

VTWOAVanguard Russell 2000 ETF

In short

SCHA Schwab's small-cap workhorse: three basis points, roughly 1,700 companies, and a mandate to hold the slice of the US market that sits below the large and mid caps. Running since 2009.

VTWO The Russell 2000 is the small-cap benchmark every headline quotes. VTWO is Vanguard's cheap seat on it: about 2,000 small US companies for 0.06% a year, a fraction of the fee on the best-known fund tracking the same index.

Stated mandate

SCHA The fund seeks to closely track, before fees and expenses, the total return of the Dow Jones U.S. Small-Cap Total Stock Market Index. It generally invests in that index’s small-cap stocks and normally places at least 90% of net assets in them.

VTWO The fund invests in stocks in the Russell 2000 Index and seeks to closely track that index's return, representing small-cap U.S. stock exposure.

Why people hold it

SCHA At 0.03% a year, it is tied for the cheapest fund in its small-cap peer group and a fraction of the 0.25% category median. The fee is the one variable you know in advance.
Roughly 1,700 stocks, weighted by size. That is the whole small-cap tail rather than a curated shortlist, and no single name gets to steer the portfolio.
The contract is plain: at least 90% of net assets in the Dow Jones U.S. Small-Cap Total Stock Market Index, and it has tracked that benchmark closely.
Sixteen years old, multi-billion-dollar, actively traded, and pays quarterly. One of the sturdier implementations among the broad small-cap index funds we cover.

VTWO Same index, smaller toll. VTWO charges 0.06% while IWM, the other big Russell 2000 tracker, charges 0.19%. The small-cap category median is 0.25%.vanguard.com
Holds roughly 2,000 stocks, the whole small-cap benchmark rather than a trimmed slice. A multi-billion-dollar fund, actively traded, running since 2010 and paying quarterly.
Tracking has been about as tight as this corner of the market gets, one of the closest index-replication records among US small-cap funds.

Worth knowing

SCHA Small caps move harder than large caps in both directions. This fund takes the full ride with no hedge, buffer, or volatility damper in the design.
The index sorts by size, not quality. Unprofitable and lightly covered companies come along with everything else, since no earnings screen sits in front of the portfolio.
It follows a Dow Jones small-cap index, not the Russell 2000 that IWM and VTWO track, so its returns and headlines about that benchmark will not line up exactly.

VTWO Small-cap stocks swing harder than large caps, and this fund stays fully invested in them through the rough stretches.vanguard.com
Cheaper exists on the shelf: VB and SCHA run 0.03%, though they follow different small-cap indexes with different membership rules.
The Russell 2000 rebuilds its membership on a published schedule (June, plus a December rebalance from 2026), which packs index-driven trading into those dates.lseg.com

Full SCHA profile⁠

Full VTWO profile⁠

SCHA vs VTWO Holdings

How SCHA and VTWO differ

Overlap by weight

66.3%

Shared holdings make up 89.2% of VTWO and 66.7% of SCHA.

Level by level

Holdings1,432 in both66.3%
Sector11 Sectors94.0%
Countryby domicile98.9%
Asset classEquity100%

Sector

Sector weights in SCHA and VTWO, widest gap first
Sector	More in SCHAMore in VTWO	SCHA	VTWO
Health Care	VTWO +3.8 points	17.0%	20.8%
Consumer Discretionary	SCHA +2.6 points	11.1%	8.5%
Technology	SCHA +1.3 points	15.5%	14.2%
Financials	VTWO +0.9 points	17.2%	18.1%
Communication	SCHA +0.7 points	2.9%	2.2%
Real Estate	SCHA +0.7 points	7.0%	6.3%
Materials	VTWO +0.6 points	4.2%	4.8%
Energy	VTWO +0.5 points	5.7%	6.2%
Consumer Staples	SCHA +0.5 points	3.0%	2.6%
Industrials	SCHA +0.4 points	14.1%	13.7%
Utilities	VTWO +0.2 points	2.5%	2.7%

Country, concentration and asset class

Country by domicile

Country weights in SCHA and VTWO, widest gap first
Country	More in SCHAMore in VTWO	SCHA	VTWO
United States	VTWO +1.1 points	98.9%	100.0%
Other countries (12)	SCHA +1.1 points	1.1%	0.0%

Concentration

Weight in the 10 largest Holdings

SCHA2.9%
VTWO5.4%

Securities held

SCHA1,743
VTWO1,998

Asset class

SCHA: Equity
VTWO: Equity

Holdings

Only in SCHA311
In both1,432
Only in VTWO566

Only in SCHA

311 securities, 33.3% of SCHA by weight

Halozyme Therapeutics0.35%
Wayfair Class A0.33%
Bitmine Immersion Technologies0.31%
American Healthcare Reit0.27%
Ensign Group0.26%
Ryder System0.26%
Wintrust Financial0.25%
Affiliated Managers Group0.25%
Southstate Bank Corp0.24%
Littelfuse0.24%
Flowserve0.24%
Popular0.24%
New York Times Class A0.24%
Solstice Advanced Materials Inc0.24%
Rambus0.23%
Hecla Mining0.23%
Watts Water Technologies Class A0.23%
Globus Medical Class A0.22%
Sanmina0.22%
Viper Energy Inc Class A0.22%
Allison Transmission Holdings0.22%
Brixmor Property Group Reit Inc0.21%
Columbia Banking System Inc0.21%
Primerica0.21%
Prosperity Bancshares0.21%
Darling Ingredients0.21%
Sentinelone Inc Class A0.21%
Madrigal Pharmaceuticals0.20%
Gitlab Class A0.20%
Arrowhead Pharmaceuticals0.20%
Chord Energy0.20%
Agree Realty Reit0.20%
Spx Technologies Inc0.20%
Oshkosh Corp0.20%
Valmont Inds0.20%
Idacorp0.20%
Ugi0.20%
Viavi Solutions0.20%
Hanover Insurance Group0.19%
Cleveland Cliffs Inc0.19%
Element Solutions Inc0.19%
Simpson Manufacturing0.19%
Venture Global Class A0.19%
Ralliant0.19%
Kirby Corp0.18%
Hyatt Hotels Corp Class A0.18%
Formfactor Inc0.18%
Avnet0.18%
National Fuel Gas0.18%
Axis Capital Holdings0.18%

Only in VTWO

566 securities, 10.8% of VTWO by weight

SLBBH11422.36%
Moog Inc0.36%
JFrog Ltd0.35%
Arcosa Inc0.24%
SSR Mining Inc0.23%
Golar LNG Ltd0.15%
Brookfield Infrastructure Corp0.15%
Marex Group Ltd0.14%
Joby Aviation Inc0.13%
Scorpio Tankers Inc0.12%
Xenon Pharmaceuticals Inc0.12%
Kiniksa Pharmaceuticals International Plc0.11%
DHT Holdings Inc0.11%
Atkore Inc0.11%
Constellium SE0.10%
Energy Fuels Inc/Canada0.09%
IMAX Corp0.08%
Teekay Tankers Ltd0.08%
Webull Corp0.08%
Bank of NT Butterfield & Son Ltd/The0.08%
StoneCo Ltd0.07%
Novagold Resources Inc0.07%
Aurinia Pharmaceuticals Inc0.06%
Super Group SGHC Ltd0.06%
Perpetua Resources Corp0.06%
Brookfield Business Corp0.06%
ACV Auctions Inc0.06%
Establishment Labs Holdings Inc0.06%
UroGen Pharma Ltd0.06%
BioLife Solutions Inc0.05%
SFL Corp Ltd0.05%
Bladex Inc0.05%
Nordic American Tankers Ltd0.05%
Pagseguro Digital Ltd0.05%
Hamilton Insurance Group Ltd0.05%
Globant SA0.05%
Bitdeer Technologies Group0.05%
Genius Sports Ltd0.04%
Dlocal Ltd/Uruguay0.04%
Pelagos Insurance Capital Ltd0.04%
Zymeworks Inc0.04%
Accelerant Holdings0.04%
Dole PLC0.03%
Brightstar Lottery PLC0.03%
FLEX LNG Ltd0.03%
Borr Drilling Ltd0.03%
Clear Channel Outdoor Holdings Inc0.03%
Beazer Homes USA Inc0.03%
Under Armour Inc0.03%
Navigator Holdings Ltd0.03%

Weight gaps

The 100 widest of 1,432 Holdings in both funds.

Holding weights in SCHA and VTWO, widest gap first
Holding	More in SCHAMore in VTWO	SCHA	VTWO
Twist BioscienceTWST	VTWO +0.15 points	0.27%	0.42%
Riot PlatformsRIOT	VTWO +0.13 points	0.11%	0.24%
MaxlinearMXL	VTWO +0.12 points	0.14%	0.26%
Hut CorpHUT	VTWO +0.11 points	0.18%	0.29%
10X Genomics Class ATXG	VTWO +0.12 points	0.23%	0.35%
Cipher Digital IncCIFR	VTWO +0.11 points	0.07%	0.18%
Minimed Group IncMMED	SCHA +0.11 points	0.13%	0.02%
Firstcash Holdings IncFCFS	VTWO +0.10 points	0.18%	0.28%
Iovance Biotherapeutics IncIOVA	VTWO +0.10 points	0.09%	0.19%
D Wave QuantumQBTS	VTWO +0.10 points	0.10%	0.20%
Plexus CorpPLXS	VTWO +0.09 points	0.14%	0.23%
Stonex Group IncSNEX	VTWO +0.09 points	0.14%	0.23%
Caretrust ReitCTRE	VTWO +0.09 points	0.20%	0.29%
CytokineticsCYTK	VTWO +0.08 points	0.21%	0.29%
Umb FinancialUMBF	VTWO +0.09 points	0.23%	0.32%
Acm Research Class AACMR	VTWO +0.08 points	0.07%	0.15%
Old National BancorpONB	VTWO +0.08 points	0.20%	0.28%
Krystal BiotechKRYS	VTWO +0.08 points	0.20%	0.29%
Jackson Financial Class AJXN	VTWO +0.08 points	0.20%	0.28%
Esco TechnologiesESE	VTWO +0.08 points	0.15%	0.23%
Mara HoldingsMARA	VTWO +0.07 points	0.07%	0.14%
Rigetti ComputingRGTI	VTWO +0.07 points	0.10%	0.17%
Interdigital IncIDCC	VTWO +0.08 points	0.20%	0.28%
EnersysENS	VTWO +0.07 points	0.15%	0.22%
Zurn Elkay Water Solutions CorpZWS	VTWO +0.07 points	0.16%	0.23%
EnproNPO	VTWO +0.08 points	0.14%	0.22%
Pbf Energy Class APBF	VTWO +0.07 points	0.18%	0.25%
Txnm Energy IncTXNM	VTWO +0.07 points	0.14%	0.21%
Tg TherapeuticsTGTX	VTWO +0.07 points	0.20%	0.27%
Lumen TechnologiesLUMN	VTWO +0.07 points	0.11%	0.18%
Brightspring Health Services IncBTSG	VTWO +0.07 points	0.24%	0.31%
Scholar Rock HoldingSRRK	VTWO +0.07 points	0.11%	0.18%
Fluor CorpFLR	VTWO +0.07 points	0.15%	0.22%
AxtAXTI	VTWO +0.07 points	0.09%	0.16%
MaterionMTRN	VTWO +0.07 points	0.12%	0.19%
Adaptive BiotechnologiesADPT	VTWO +0.07 points	0.08%	0.15%
Silicon LaboratoriesSLAB	VTWO +0.06 points	0.18%	0.24%
Kodiak Gas Services IncKGS	VTWO +0.06 points	0.12%	0.18%
Protagonist TherapeuticsPTGX	VTWO +0.07 points	0.22%	0.29%
Hims Hers Health Class AHIMS	VTWO +0.06 points	0.15%	0.21%
LIFE360LIF	SCHA +0.06 points	0.09%	0.03%
Praxis Precision MedicinesPRAX	VTWO +0.06 points	0.18%	0.24%
Kulicke and Soffa Industries IncKLIC	VTWO +0.06 points	0.10%	0.16%
Hancock WhitneyHWC	VTWO +0.06 points	0.14%	0.20%
Ultra Clean Holdings IncUCTT	VTWO +0.06 points	0.06%	0.12%
Travere TherapeuticsTVTX	VTWO +0.06 points	0.11%	0.17%
Aehr Test SystemsAEHR	VTWO +0.06 points	0.04%	0.10%
Zeta Global Holdings Class AZETA	VTWO +0.06 points	0.18%	0.24%
Matson IncMATX	VTWO +0.06 points	0.16%	0.22%
Oscar Health Class AOSCR	VTWO +0.05 points	0.19%	0.24%
Lantheus HoldingsLNTH	VTWO +0.05 points	0.16%	0.21%
Core Scientific IncCORZ	VTWO +0.06 points	0.11%	0.17%
Uranium EnergyUEC	VTWO +0.05 points	0.10%	0.15%
Commercial MetalsCMC	VTWO +0.06 points	0.17%	0.23%
Terreno Realty ReitTRNO	VTWO +0.06 points	0.17%	0.23%
CleansparkCLSK	VTWO +0.06 points	0.05%	0.11%
Garrett MotionGTX	VTWO +0.06 points	0.10%	0.16%
Cg OncologyCGON	VTWO +0.05 points	0.12%	0.17%
Ligand PharmaceuticalsLGND	VTWO +0.06 points	0.15%	0.21%
Federal Signal CorpFSS	VTWO +0.05 points	0.17%	0.22%
Ormat Tech IncORA	VTWO +0.06 points	0.13%	0.19%
Axcelis TechnologiesACLS	VTWO +0.06 points	0.08%	0.14%
Brinker International IncEAT	VTWO +0.06 points	0.22%	0.28%
Champion Homes IncSKY	VTWO +0.06 points	0.10%	0.16%
Sensient TechnologiesSXT	VTWO +0.06 points	0.13%	0.19%
ArganAGX	VTWO +0.05 points	0.12%	0.17%
Vishay IntertechnologyVSH	VTWO +0.05 points	0.10%	0.15%
United BanksharesUBSI	VTWO +0.05 points	0.16%	0.21%
DiodesDIOD	VTWO +0.05 points	0.10%	0.15%
Portland General ElectricPOR	VTWO +0.05 points	0.12%	0.17%
Essential Properties Realty TrustEPRT	VTWO +0.05 points	0.14%	0.19%
Vse CorpVSEC	VTWO +0.05 points	0.10%	0.15%
Sphere Entertainment Class ASPHR	VTWO +0.05 points	0.07%	0.12%
GatxGATX	VTWO +0.05 points	0.15%	0.20%
Xometry Class AXMTR	VTWO +0.05 points	0.13%	0.18%
Macerich ReitMAC	VTWO +0.05 points	0.16%	0.21%
Ceco EnvironmentalCECO	VTWO +0.05 points	0.07%	0.12%
BalchemBCPC	VTWO +0.05 points	0.13%	0.18%
Ptc TherapeuticsPTCT	VTWO +0.05 points	0.13%	0.18%
Jbt MarelJBTM	VTWO +0.04 points	0.14%	0.18%
Ryman Hospitality Properties ReitRHP	VTWO +0.05 points	0.22%	0.27%
Chefs WarehouseCHEF	VTWO +0.05 points	0.09%	0.14%
Sm EnergySM	VTWO +0.05 points	0.22%	0.27%
ImpinjPI	VTWO +0.04 points	0.13%	0.17%
Sabra Health Care ReitSBRA	VTWO +0.05 points	0.12%	0.17%
Ameris BancorpABCB	VTWO +0.05 points	0.12%	0.17%
Warrior Met Coal IncHCC	VTWO +0.04 points	0.11%	0.15%
Par Pacific HoldingsPARR	VTWO +0.04 points	0.09%	0.13%
Compass Inc Class ACOMP	VTWO +0.04 points	0.17%	0.21%
PricesmartPSMT	VTWO +0.05 points	0.10%	0.15%
Oceaneering International IncOII	VTWO +0.04 points	0.10%	0.14%
TerexTEX	VTWO +0.05 points	0.15%	0.20%
Legence Class ALGN	VTWO +0.04 points	0.06%	0.10%
Myr Group IncMYRG	VTWO +0.05 points	0.10%	0.15%
Atlantic Union BanksharesAUB	VTWO +0.05 points	0.13%	0.18%
Mercury Systems IncMRCY	VTWO +0.04 points	0.11%	0.15%
Varonis SystemsVRNS	VTWO +0.05 points	0.13%	0.18%
Cavco IndustriesCVCO	VTWO +0.04 points	0.10%	0.14%
Kite Realty Group Trust ReitKRG	VTWO +0.04 points	0.12%	0.16%
First Financial Bankshares IncFFIN	VTWO +0.04 points	0.10%	0.14%

All 1,748 SCHA holdings⁠All 1,969 VTWO holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

SCHA vs VTWO Cost

Overpaying VTWO vs SCHA

$632

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

SCHA 0.03%
$638
VTWO 0.06%
$1,270

Amount$10,000

Years30 years

Cost over time

SCHA 0.03%
VTWO 0.06%
Overpaying

Year by year

Year	SCHA	VTWO	Overpaying
10	$55	$110	$55
20	$216	$432	$216
30	$638	$1,270	$632

Expense ratio

0.03%SCHA, cheaper
0.06%VTWO

SCHA0.03%VTWO0.06%

0.03%0.60%

Middle half of US Small-Cap funds
Median 0.20%

SCHA cheapest of 16 funds

VTWO 4th cheapest of 16 funds

SCHA vs VTWO Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCHA 1.12%; VTWO 1.20%, better
Payout (12M): SCHA $0.37; VTWO $1.36
Last payment: SCHA $0.10; VTWO $0.39
Ex-dividend: SCHA Sep 23, 2026; VTWO Sep 23, 2026
Paid on: SCHA Sep 28, 2026; VTWO Sep 25, 2026
Frequency: SCHA Quarterly; VTWO Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHAQuarterly · 40 paymentsAll SCHA payments⁠

VTWOQuarterly · 39 paymentsAll VTWO payments⁠

SCHA vs VTWO Risk

Fall from peak · 5 years

SCHA
VTWO

Risk facts

VolatilityStd dev, 3 years: SCHA 18.6%, betterVTWO 19.0%
Return per unit of riskSharpe ratio, 3 years: SCHA 0.88, betterVTWO 0.86
Worst fallMax drawdown, 5 years: SCHA −30.8%, betterVTWO −31.9%
Market sensitivityBeta, 5 years: SCHA 1.12VTWO 1.14; Market = 1

SCHA and VTWO in the news

All news⁠

Best ETFs
Best small-cap ETFs: Vanguard’s VB beats three great funds all charging just 0.03%
Updated Nov 2, 2026SCHAVTWO
Best ETFs
Schwab and Vanguard charge the same 0.03%. Their small-cap funds are 3.7 percentage points apart
Updated Oct 2, 2026SCHAVTWO
Head-to-Head
Hold VB over IWM for a small-cap stake
Oct 30, 2026VTWO
New ETFs
Longnook's compounders ETF leads with tankers, Newmont and Exxon Mobil
Oct 5, 2026VTWO

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SCHA vs VTWO

In short

Stated mandate

Why people hold it