SCHB vs SPY: Grades, Fees and Holdings Compared

Schwab U.S. Broad Market ETF

SCHBANYSE Arca

State Street SPDR S&P 500 ETF

SPYBNYSE Arca

Overlap

89.2%by weight

Expense ratio

SCHB −0.06pt a year

SCHB0.03%SPY0.09%

Avg volume · 30D

SPY 4.6×the volume

SCHB9.69MSPY44.2M

10Y return · a year

SPY +1.5pt

SCHB+13.7%SPY+15.2%

SCHB vs SPY Performance

Nov 12, 2021 – Nov 12, 2026

+65.3%SCHB+73.3%SPY

Expense ratio: SCHB 0.03%, better; SPY 0.09%
Fund size: SCHB $44.7B; SPY $806B
1Y total return: SCHB +12.0%; SPY +12.0%
Yield (12M): SCHB 1.06%, better; SPY 1.00%
Holdings: SCHB 2411; SPY 505
Avg volume (30D): SCHB 9.69M sh; SPY 44.2M sh, better
NAV per share: SCHB $29.25; SPY $759.66
52W range

ETF.net Grade

Pillar letters and Scores for SCHB, SPY, with each pillar’s weight
Pillar	SCHB	SPY
Cost30% weight	A72	C47
Mission25% weight	A100	A100
Risk15% weight	C49	C50
Tradability15% weight	B67	A89
Holdings10% weight	A74	B57
Durability5% weight	B67	A84

Where each fund ranks

How we build Categories ›

Different Categories. Their Grades do not compare head to head.

Total US Market⁠

Category · 10 funds

See all 10 ›

SCHB ranks 2nd of 10 funds in the Total US Market Category.

Rank 1AITOTiShares Core S&P Total U.S. Stock Market ETFScore 77
Rank 2ASCHBSchwab U.S. Broad Market ETFScore 74
Rank 3ASPTMState Street SPDR Portfolio S&P 1500 Composite Stock Market ETFScore 72

S&P 500⁠

Category · 14 funds

See all 14 ›

SPY ranks 5th of 14 funds in the S&P 500 Category.

Rank 4AUSPXFranklin U.S. Equity Index ETFScore 71
Rank 5BSPYState Street SPDR S&P 500 ETFScore 69
Rank 6BSTXFStrive 500 ETFScore 65

Our read on each fund

ETF.net Research

SCHBASchwab U.S. Broad Market ETF

SPYBState Street SPDR S&P 500 ETF

In short

SCHB Schwab's one-ticket slice of nearly the whole US market: roughly 2,400 stocks for 0.03% a year, half the typical fee among total-market rivals. Running since 2009, with one of the tightest index-tracking records in its peer group.

SPY The 1993 original, and still the ticker the market trades through. Same roughly 500 S&P 500 names as its cheaper cousins; the edge here is the crowd around it, not the fee.

Stated mandate

SCHB The fund seeks to track, before fees and expenses, the total return of the Dow Jones U.S. Broad Stock Market Index.

SPY The fund seeks to track, before expenses, the price and yield performance of the S&P 500 Index.

Why people hold it

SCHB 0.03% a year, half the 0.06% median for its total-market cohort. Three dollars a year per $10,000 invested.
Tracks the Dow Jones U.S. Broad Stock Market Index tightly, among the closest index replication in its peer group.schwabassetmanagement.com
A multi-billion-dollar fund and one of the most actively traded in its category, which usually means narrow bid-ask spreads for buyers and sellers.
Live since 2009, with a quarterly dividend cadence and roughly 2,400 holdings behind it.

SPY One of the most heavily traded funds in the market, and one of the largest. That depth is why desks treat it as the default way to move S&P 500 exposure.
Its stated job is to track the S&P 500 before expenses, and it hews to that benchmark about as closely as anything in its peer group.
At 0.09% a year it still undercuts the typical S&P 500 wrapper in its cohort, and it lands in the upper half of that group overall.

Worth knowing

SCHB Not the cheapest ticket in the cohort: BBUS charges 0.02%. At these levels the gap is pennies, but it exists.
Broad, not exhaustive. Roughly 2,400 stocks covers the bulk of the US market rather than every listed company.
Pure equity exposure with no hedge or buffer, so it moves with the full US market in both directions.

SPY That liquidity has a price: VOO, IVV and SPYM track the same index for a few basis points, and the fee gap compounds over a long hold.
It is a unit investment trust, the older 1993-vintage wrapper: it holds the index as declared and pays dividends out on a quarterly schedule.
About 500 stocks, cap-weighted, so the largest companies carry the most weight; equal-weight takes on the same index, like RSP, spread it differently.

Full SCHB profile⁠

Full SPY profile⁠

SCHB vs SPY Holdings

How SCHB and SPY differ

Overlap by weight

89.2%

Shared holdings make up 99.9% of SPY and 89.2% of SCHB.

Level by level

Holdings501 in both89.2%
Sector11 Sectors98.1%
Asset classStocks100%
Countryby domicile99.9%

Sector

Sector weights in SCHB and SPY, widest gap first
Sector	Gap	SCHB	SPY
Technology	SPY +0.7 points	34.8%	35.5%
Industrials	SCHB +0.6 points	8.7%	8.1%
Communication	SPY +0.6 points	8.2%	8.8%
Health Care	SCHB +0.4 points	11.0%	10.6%
Real Estate	SCHB +0.4 points	2.3%	1.9%
Consumer Staples	SPY +0.4 points	4.8%	5.2%
Consumer Discretionary	SCHB +0.2 points	9.7%	9.5%
Energy	SCHB +0.2 points	3.7%	3.5%
Materials	SCHB +0.1 points	1.9%	1.8%
Financials	SPY +0.1 points	12.7%	12.8%
Utilities	Same weight	2.1%	2.1%

Country, concentration and asset class

Country by domicile

Country weights in SCHB and SPY, widest gap first
Country	Gap	SCHB	SPY
United States	SPY +0.1 points	99.4%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
United Kingdom	SCHB +0.1 points	0.1%	0.0%
Ireland	Same weight	0.0%	0.0%
Mexico	Same weight	0.0%	0.0%
Sweden	Same weight	0.0%	0.0%
Brazil	Same weight	0.0%	0.0%
India	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SCHB33.1%
SPY36.9%

Securities held

SCHB2,410
SPY504

Asset class

SCHB: Stocks
SPY: Stocks

Holdings

Only in SCHB1,909
In both501
Only in SPY3

Only in SCHB

1,909 securities, 10.7% of SCHB by weight

Space Exploration Technologies Cor0.26%
Snowflake0.14%
Cloudflare Class A0.14%
Cheniere Energy0.09%
Ssc Government Mm Gvmxx0.08%
Natera0.06%
Strategy Inc Class A0.06%
Revolution Medicines0.05%
Astera Labs0.05%
Rocket Lab Corp0.05%
Roblox Class A0.05%
Sunbelt Rentals Holdings Inc0.05%
Heico0.04%
Royalty Pharma PLC Class A0.04%
Mongodb Class A0.04%
Liberty Media Series C0.04%
Ati0.04%
Zoom Communications Class A0.04%
Technipfmc PLC0.04%
Insmed0.04%
United Therapeutics0.03%
Atlassian Corp Class A0.03%
Markel Group0.03%
Credo Technology Group Holding Ltd0.03%
Entegris Inc0.03%
Us Foods Holding0.03%
Tenet Healthcare Corp0.03%
Lpl Financial Holdings0.03%
Reliance0.03%
Xpo0.03%
Coreweave Class A0.03%
Roivant Sciences Ltd0.03%
Royal Gold0.03%
Alnylam Pharmaceuticals0.03%
Coupang Class A0.03%
Amrize AG0.03%
Guardant Health0.03%
First Citizens Bancshares Class A0.03%
Zscaler0.03%
Sofi Technologies0.03%
Medline Class A0.03%
Woodward0.03%
Affirm Holdings Class A0.03%
Td Synnex0.03%
Itt Inc0.03%
Permian Resources Class A0.03%
Ftai Aviation0.03%
Nvent Electric PLC0.03%
Sharkninja0.02%
Unity Software0.02%

Only in SPY

3 securities, 0.0% of SPY by weight

Fox Corp Class B0.01%
News Corp Class B<0.01%
Contra Hologic Incorpo0.00%

Weight gaps

The 100 widest of 501 Holdings in both funds.

Holding weights in SCHB and SPY, widest gap first
Holding	Gap	SCHB	SPY
NVIDIANVDA	SPY +0.91 points	5.49%	6.40%
AppleAAPL	SPY +0.82 points	7.07%	7.89%
MicrosoftMSFT	SPY +0.59 points	5.30%	5.89%
Amazon Com IncAMZN	SPY +0.39 points	3.58%	3.97%
Meta Platforms Class AMETA	SPY +0.23 points	1.88%	2.11%
Alphabet Class AGOOGL	SPY +0.23 points	2.39%	2.62%
Eli LillyLLY	SPY +0.19 points	1.56%	1.75%
Alphabet Class CGOOG	SPY +0.18 points	1.92%	2.10%
Berkshire Hathaway Inc Class BBRK.B	SPY +0.17 points	1.50%	1.67%
Micron TechnologyMU	SPY +0.16 points	1.23%	1.39%
Tesla IncTSLA	SPY +0.15 points	1.53%	1.68%
JPMorgan ChaseJPM	SPY +0.15 points	1.24%	1.39%
Broadcom IncAVGO	SPY +0.14 points	2.36%	2.50%
Visa Class AV	SPY +0.12 points	0.98%	1.10%
Johnson & JohnsonJNJ	SPY +0.10 points	0.93%	1.03%
Mastercard Class AMA	SPY +0.09 points	0.72%	0.81%
Exxonmobil Holdings CorpXOM	SPY +0.09 points	0.95%	1.04%
WalmartWMT	SPY +0.08 points	0.77%	0.85%
AbbVieABBV	SPY +0.08 points	0.71%	0.79%
Costco Wholesale CorpCOST	SPY +0.07 points	0.66%	0.73%
Ge AerospaceGE	SPY +0.07 points	0.47%	0.54%
Advanced Micro DevicesAMD	SPY +0.07 points	1.30%	1.37%
Palantir Technologies Class APLTR	SPY +0.06 points	0.54%	0.60%
Applied Material IncAMAT	SPY +0.07 points	0.41%	0.48%
Coca-ColaKO	SPY +0.06 points	0.51%	0.57%
Procter & GamblePG	SPY +0.06 points	0.53%	0.59%
Home DepotHD	SPY +0.06 points	0.47%	0.53%
ChevronCVX	SPY +0.06 points	0.58%	0.64%
Merck & Co IncMRK	SPY +0.06 points	0.49%	0.55%
Intel Corporation CorpINTC	SPY +0.05 points	0.41%	0.47%
Palo Alto NetworksPANW	SPY +0.05 points	0.36%	0.41%
Cisco Systems IncCSCO	SPY +0.05 points	0.55%	0.60%
UnitedHealth GroupUNH	SPY +0.05 points	0.50%	0.55%
Bank of AmericaBAC	SPY +0.05 points	0.45%	0.50%
NetflixNFLX	SPY +0.05 points	0.36%	0.41%
Thermo Fisher ScientificTMO	SPY +0.05 points	0.35%	0.40%
Lam ResearchLRCX	SPY +0.05 points	0.40%	0.45%
RtxRTX	SPY +0.05 points	0.36%	0.41%
Goldman Sachs GroupGS	SPY +0.05 points	0.36%	0.41%
Philip Morris InternationalPM	SPY +0.05 points	0.42%	0.47%
OracleORCL	SPY +0.04 points	0.34%	0.38%
International Business Machines CoIBM	SPY +0.05 points	0.31%	0.36%
Texas InstrumentTXN	SPY +0.04 points	0.39%	0.43%
Caterpillar IncCAT	SPY +0.04 points	0.38%	0.42%
Wells FargoWFC	SPY +0.04 points	0.35%	0.39%
Amgen IncAMGN	SPY +0.05 points	0.34%	0.39%
Linde PLCLIN	SPY +0.04 points	0.33%	0.37%
KlaKLAC	SPY +0.04 points	0.28%	0.32%
Morgan StanleyMS	SPY +0.04 points	0.31%	0.35%
Gilead SciencesGILD	SPY +0.04 points	0.28%	0.32%
Walt DisneyDIS	SPY +0.03 points	0.28%	0.31%
Crowdstrike Holdings Class ACRWD	SPY +0.03 points	0.32%	0.35%
Abbott LaboratoriesABT	SPY +0.04 points	0.25%	0.29%
PepsicoPEP	SPY +0.04 points	0.26%	0.30%
CitigroupC	SPY +0.04 points	0.28%	0.32%
DeereDE	SPY +0.03 points	0.23%	0.26%
Mcdonalds CorpMCD	SPY +0.04 points	0.26%	0.30%
Analog DevicesADI	SPY +0.03 points	0.27%	0.30%
PfizerPFE	SPY +0.04 points	0.22%	0.26%
WelltowerWELL	SPY +0.03 points	0.24%	0.27%
Verizon Communications IncVZ	SPY +0.03 points	0.26%	0.29%
SandiskSNDK	SPY +0.03 points	0.19%	0.22%
American ExpressAXP	SPY +0.03 points	0.23%	0.26%
BlackRockBLK	SPY +0.03 points	0.24%	0.27%
Nextera EnergyNEE	SPY +0.03 points	0.24%	0.27%
Ge VernovaGEV	SPY +0.03 points	0.30%	0.33%
Intuitive SurgicalISRG	SPY +0.03 points	0.21%	0.24%
Amphenol Corp Class AAPH	SPY +0.03 points	0.27%	0.30%
QualcommQCOM	SPY +0.03 points	0.26%	0.29%
SalesforceCRM	SPY +0.03 points	0.24%	0.27%
Marvell TechnologyMRVL	SPY +0.03 points	0.20%	0.23%
NewmontNEM	SPY +0.03 points	0.16%	0.19%
Accenture PLC Class AACN	SPY +0.03 points	0.21%	0.24%
Charles SchwabSCHW	SPY +0.03 points	0.20%	0.23%
Uber TechnologiesUBER	SPY +0.03 points	0.19%	0.22%
Union PacificUNP	SPY +0.02 points	0.25%	0.27%
DanaherDHR	SPY +0.02 points	0.20%	0.22%
S&P GlobalSPGI	SPY +0.03 points	0.19%	0.22%
BoeingBA	SPY +0.02 points	0.18%	0.21%
AT&TT	SPY +0.02 points	0.21%	0.23%
Starbucks CorpSBUX	SPY +0.02 points	0.17%	0.19%
Lowes Companies IncLOW	SPY +0.03 points	0.17%	0.20%
TjxTJX	SPY +0.03 points	0.20%	0.23%
ModernaMRNA	SPY +0.02 points	0.12%	0.14%
Vertex PharmaceuticalsVRTX	SPY +0.02 points	0.19%	0.21%
Eaton PLCETN	SPY +0.02 points	0.19%	0.21%
ConocophillipsCOP	SPY +0.02 points	0.23%	0.25%
Parker-HannifinPH	SPY +0.03 points	0.16%	0.19%
Bristol Myers SquibbBMY	SPY +0.03 points	0.17%	0.20%
Seagate Technology Holdings PLCSTX	SPY +0.02 points	0.17%	0.19%
Capital One Financial CorpCOF	SPY +0.02 points	0.16%	0.18%
Lockheed MartinLMT	SPY +0.02 points	0.17%	0.19%
Applovin Class AAPP	SPY +0.02 points	0.15%	0.17%
Prologis ReitPLD	SPY +0.02 points	0.17%	0.19%
Medtronic PLCMDT	SPY +0.02 points	0.17%	0.19%
StrykerSYK	SPY +0.02 points	0.15%	0.17%
ProgressivePGR	SPY +0.02 points	0.19%	0.21%
Mckesson CorpMCK	SPY +0.02 points	0.17%	0.19%
ServicenowNOW	SPY +0.02 points	0.14%	0.16%
ChubbCB	SPY +0.02 points	0.18%	0.20%

All 2,418 SCHB holdings⁠All 504 SPY 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.

SCHB vs SPY Cost

Overpaying SPY vs SCHB

$1,260

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

SCHB 0.03%
$638
SPY 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

SCHB 0.03%
SPY 0.09%
Overpaying

Year by year

Year	SCHB	SPY	Overpaying
10	$55	$165	$110
20	$216	$646	$430
30	$638	$1,898	$1,260

Expense ratio

0.03%SCHB, cheaper
0.09%SPY

Different Categories, so each fee sits in its own Category’s range.

SCHB among 10 Total US Market funds

SCHB0.03%

0.02%0.25%

Middle half of Total US Market funds
Median 0.04%

SCHB 2nd cheapest of 10 funds

SPY among 14 S&P 500 funds

SPY0.09%

0.02%0.45%

Middle half of S&P 500 funds
Median 0.09%

SPY 7th cheapest of 14 funds

SCHB vs SPY Dividends

Last 12 months to Nov 12, 2026

Yield (12M): SCHB 1.06%, better; SPY 1.00%
Payout (12M): SCHB $0.31; SPY $7.58
Last payment: SCHB $0.08; SPY $1.89
Ex-dividend: SCHB Sep 23, 2026; SPY Sep 18, 2026
Paid on: SCHB Sep 28, 2026; SPY Oct 30, 2026
Frequency: SCHB Quarterly; SPY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHBQuarterly · 24 paymentsAll SCHB payments⁠

SPYQuarterly · 39 paymentsAll SPY payments⁠

SCHB vs SPY Risk

Fall from peak · 5 years

SCHB
SPY

Risk facts

VolatilityStd dev, 3 years: SCHB 12.7%SPY 12.3%, better
Return per unit of riskSharpe ratio, 3 years: SCHB 1.36SPY 1.42, better
Worst fallMax drawdown, 5 years: SCHB −25.4%SPY −24.5%, better
Market sensitivityBeta, 5 years: SCHB 1.03SPY 1.01; Market = 1

SCHB and SPY in the news

All news⁠

Best ETFs
The best S&P 500 ETF costs 0.02%. Equal weight is a different bet
Updated Nov 2, 2026SCHBSPY
Closing Bell
Jensen Huang quits Nvidia; Kress named interim CEO as shares fall 4.3%
10 hours agoSPY
Opening Bell
Nvidia opens 13% lower after Jensen Huang resigns as CEO
20 hours agoSPY
Closing Bell
Chip stocks rise on CoreWeave’s outlook, sending ship S&P 500 up 1.3%
Nov 11, 2026SPY
Deep Dive
A consumer staples ETF with no Walmart beat XLP this year
Nov 11, 2026SPY
Closing Bell
Hot CPI lifts yields - Nvidia alone accounts for the S&P 500's 0.4% drop
Nov 10, 2026SPY

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