SCHV vs VMAX: Grades, Fees and Holdings Compared

Schwab U.S. Large-Cap Value ETF

SCHVANYSE Arca

Hartford US Value ETF

VMAXCCboe

Overlap

26.7%by weight

Expense ratio

SCHV −0.25pt a year

SCHV0.04%VMAX0.29%

Avg volume · 30D

SCHV 5259.3×the volume

SCHV3.19MVMAX607

SCHV vs VMAX Performance

Nov 7, 2025 – Nov 9, 2026

+22.1%SCHV+28.2%VMAX

Expense ratio: SCHV 0.04%, better; VMAX 0.29%
Fund size: SCHV $15.4B; VMAX $3M
1Y total return: SCHV +22.1%; VMAX +28.2%, better
Yield (12M): SCHV 1.81%; VMAX 2.03%, better
Holdings: SCHV 567; VMAX 127
Avg volume (30D): SCHV 3.19M sh, better; VMAX 607 sh
NAV per share: SCHV $33.95; VMAX $65.23
52W range

ETF.net Grade

Pillar letters and Scores for SCHV, VMAX, with each pillar’s weight
Pillar	SCHV	VMAX
Cost30% weight	A96Higher	D36
Mission25% weight	A89Higher	A77
Risk15% weight	A70Higher	B65
Tradability15% weight	A95Higher	F14
Holdings10% weight	B59Higher	C51
Durability5% weight	B68Higher	F10

Rank among US Value Index funds

How we build Categories ›

Same Category. SCHV and VMAX are both graded against the same 40 US Value Index funds, so their Grades compare head to head.

US Value Index⁠

Category · 40 funds

See all 40 ›

SCHV ranks 1st and VMAX 36th of 40 funds in the US Value Index Category.

Rank 1ASCHVSchwab U.S. Large-Cap Value ETFScore 85
Rank 2AVTVVanguard Morningstar Value ETFScore 82
Rank 34CRZVInvesco S&P SmallCap 600 Pure Value ETFScore 44
Rank 36CVMAXHartford US Value ETFScore 40
Rank 37DMVALVanEck Morningstar Wide Moat Value ETFScore 36

Our read on each fund

ETF.net Research

SCHVASchwab U.S. Large-Cap Value ETF

VMAXCHartford US Value ETF

In short

SCHV No data

VMAX Hartford skipped the off-the-shelf benchmark and built its own value index, then wrapped an ETF around it: about 170 US stocks screened for low valuations, priced above what plain-vanilla value beta costs.

Stated mandate

SCHV No data

VMAX The Fund seeks to track the total return of the Hartford US Value Index, which invests in U.S. equities selected for favorable value characteristics and relatively low valuations.

Why people hold it

SCHV No data

VMAX Runs on Hartford's own index (LVMAXX) rather than a licensed S&P or Russell benchmark, screening US equities for favorable value characteristics and relatively low valuations.
Does what the label says: a pure US value equity mandate that has stayed tightly aligned with the index it advertises.
About 170 names, wide enough to blunt single-stock blowups without diluting the value screen into the whole market.
Distributions land quarterly, the standard cadence for a plain equity index fund.

Worth knowing

SCHV No data

VMAX At 0.29% a year it costs more than the typical US value fund (median 0.18%), and the category's largest names (VTV, SCHV, IUSV) charge 0.03% to 0.04%.
One of the smaller, lightly traded funds in a cohort of giants, so bid-ask spreads can run wider than the household-name value ETFs.
Launched in December 2023, so the strategy has a short live record and a proprietary index with no long public history behind it.

Full SCHV profile⁠

Full VMAX profile⁠

SCHV vs VMAX Holdings

How SCHV and VMAX differ

Overlap by weight

26.7%

Shared holdings make up 74.1% of VMAX and 40.7% of SCHV.

Level by level

Holdings95 in both26.7%
Sector11 Sectors76.6%
Asset classStocks100%
Countryby domicile99.6%

Sector

Sector weights in SCHV and VMAX, widest gap first
Sector	Gap	SCHV	VMAX
Financials	VMAX +13.0 points	20.7%	33.7%
Technology	SCHV +7.0 points	15.5%	8.5%
Industrials	SCHV +6.7 points	11.4%	4.7%
Consumer Staples	SCHV +5.4 points	9.3%	3.9%
Energy	VMAX +3.2 points	8.1%	11.3%
Consumer Discretionary	SCHV +2.6 points	6.6%	4.0%
Utilities	VMAX +2.5 points	4.1%	6.6%
Communication	VMAX +2.4 points	3.0%	5.4%
Health Care	SCHV +1.6 points	14.5%	12.9%
Materials	VMAX +1.5 points	2.6%	4.1%
Real Estate	VMAX +0.9 points	4.0%	4.9%

Country, concentration and asset class

Country by domicile

Country weights in SCHV and VMAX, widest gap first
Country	Gap	SCHV	VMAX
United States	VMAX +0.2 points	98.9%	99.1%
Switzerland	VMAX +0.3 points	0.6%	0.9%
United Kingdom	SCHV +0.2 points	0.2%	0.0%
Mexico	SCHV +0.1 points	0.1%	0.0%
Ireland	SCHV +0.1 points	0.1%	0.0%
Sweden	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SCHV19.9%
VMAX19.3%

Securities held

SCHV566
VMAX125

Asset class

SCHV: Stocks
VMAX: Stocks

Holdings

Only in SCHV471
In both95
Only in VMAX30

Only in SCHV

471 securities, 59.3% of SCHV by weight

Procter & Gamble1.29%
Coca-Cola1.24%
Cisco Systems Inc1.24%
Intel Corporation Corp0.94%
Netflix0.89%
Rtx0.86%
Texas Instrument0.85%
Goldman Sachs Group0.85%
Lam Research0.84%
International Business Machines Co0.77%
Oracle0.76%
Mcdonalds Corp0.66%
Abbott Laboratories0.64%
Space Exploration Technologies Cor0.62%
Amphenol Corp Class A0.62%
Analog Devices0.59%
Welltower0.59%
Salesforce0.59%
Union Pacific0.58%
American Express0.57%
Accenture PLC Class A0.53%
Tjx0.50%
Charles Schwab0.50%
Danaher0.48%
Chubb0.43%
Medtronic PLC0.42%
Capital One Financial Corp0.42%
Marvell Technology0.41%
Automatic Data Processing Inc0.40%
Starbucks Corp0.40%
Lockheed Martin0.39%
Stryker0.38%
Cme Group Class A0.37%
Dell Technologies Inc Class C0.33%
Marsh0.33%
Intercontinental Exchange0.32%
3M0.32%
Adobe Inc0.32%
Moderna0.32%
Elevance Health Inc0.31%
Csx0.31%
Emerson Electric0.30%
General Dynamics Corp0.30%
Blackstone0.30%
American Tower Reit0.29%
Waste Management Inc0.29%
Freeport Mcmoran Inc0.29%
Motorola Solutions Inc0.29%
Mondelez International Class A0.28%
Corning0.28%

Only in VMAX

30 securities, 25.8% of VMAX by weight

Visa Inc Class A Shares Common Stock USD.00012.07%
Mastercard Inc A Common Stock USD.00012.02%
Elevance Health Inc Common Stock USD.012.00%
Meta Platforms Inc Class A Common Stock USD.0000061.55%
Accenture PLC Class A Common Stock USD.00002251.54%
Macy’s Inc Common Stock USD.011.52%
Apple Inc Common Stock USD.000011.32%
Alphabet Inc Class A Common Stock USD.0011.28%
NVIDIA Corp Common Stock USD.0011.24%
Everest Group Ltd Common Stock USD.011.16%
UnitedHealth Group Inc Common Stock USD.011.14%
Eli Lilly & Co Common Stock1.12%
Lincoln National Corp Common Stock0.96%
Chubb Ltd Common Stock0.91%
Ugi Corp Common Stock0.84%
Ww Grainger Inc Common Stock USD.50.79%
Amazon.com Inc Common Stock USD.010.60%
Humana Inc Common Stock USD.16666660.56%
Equinix Inc Reit USD.0010.40%
National Fuel Gas Co Common Stock USD1.00.40%
Block Inc Common Stock USD.00000010.39%
Micron Technology Inc Common Stock USD.10.36%
Msci Inc Common Stock USD.010.33%
Microsoft Corp Common Stock USD.000006250.33%
Ryder System Inc Common Stock USD.50.26%
Moody’s Corp Common Stock USD.010.23%
Fiserv Inc Common Stock USD.010.20%
Caterpillar Inc Common Stock USD1.00.15%
Crh PLC Common Stock EUR.320.10%
First American Financial Common Stock USD.000010.04%

Weight gaps

All 95 Holdings in both funds, largest gap first.

Holding weights in SCHV and VMAX, widest gap first
Holding	Gap	SCHV	VMAX
JPMorgan ChaseJPM	SCHV +2.00 points	2.98%	0.98%
Eog ResourcesEOG	VMAX +1.77 points	0.26%	2.03%
Best BuyBBY	VMAX +1.70 points	0.07%	1.77%
Prudential Financial IncPRU	VMAX +1.66 points	0.14%	1.79%
Target CorpTGT	VMAX +1.63 points	0.24%	1.87%
Allstate CorpALL	VMAX +1.60 points	0.22%	1.82%
Berkshire Hathaway Inc Class BBRK.B	SCHV +1.57 points	3.57%	2.00%
ApaAPA	VMAX +1.48 points	0.05%	1.53%
ProgressivePGR	VMAX +1.46 points	0.44%	1.90%
Bristol Myers SquibbBMY	VMAX +1.38 points	0.43%	1.81%
Johnson & JohnsonJNJ	SCHV +1.37 points	2.23%	0.86%
T Rowe Price GroupTROW	VMAX +1.36 points	0.08%	1.44%
AbbVieABBV	SCHV +1.35 points	1.73%	0.38%
PayPal HoldingsPYPL	VMAX +1.29 points	0.17%	1.46%
Hp IncHPQ	VMAX +1.29 points	0.09%	1.38%
Exxonmobil Holdings CorpXOM	SCHV +1.25 points	2.29%	1.04%
Travelers CompaniesTRV	VMAX +1.22 points	0.28%	1.50%
WalmartWMT	SCHV +1.21 points	1.88%	0.67%
Expand EnergyEXE	VMAX +1.19 points	0.07%	1.26%
Edison InternationalEIX	VMAX +1.16 points	0.08%	1.24%
Devon EnergyDVN	VMAX +1.10 points	0.16%	1.26%
NewmontNEM	VMAX +1.08 points	0.43%	1.51%
Home DepotHD	SCHV +1.08 points	1.15%	0.07%
Cf Industries Holdings IncCF	VMAX +1.02 points	0.06%	1.08%
ChevronCVX	SCHV +1.02 points	1.41%	0.39%
Vici Pptys IncVICI	VMAX +0.98 points	0.09%	1.07%
Philip Morris InternationalPM	SCHV +0.97 points	1.03%	0.06%
Host Hotels & Resorts ReitHST	VMAX +0.89 points	0.06%	0.95%
Lamar Advertising Company Class ALAMR	VMAX +0.87 points	0.05%	0.92%
Bank of New York Mellon CorpBNY	VMAX +0.86 points	0.34%	1.20%
Hf SinclairDINO	VMAX +0.86 points	0.05%	0.91%
American International GroupAIG	VMAX +0.82 points	0.14%	0.96%
Simon Property Group Reit IncSPG	VMAX +0.81 points	0.25%	1.06%
ConocophillipsCOP	VMAX +0.81 points	0.55%	1.36%
CitigroupC	VMAX +0.76 points	0.67%	1.43%
RelianceRS	VMAX +0.75 points	0.07%	0.82%
Cincinnati FinancialCINF	VMAX +0.73 points	0.10%	0.83%
Gilead SciencesGILD	VMAX +0.73 points	0.69%	1.42%
Duke Energy CorpDUK	VMAX +0.69 points	0.33%	1.02%
State StreetSTT	VMAX +0.68 points	0.15%	0.83%
Us BancorpUSB	VMAX +0.67 points	0.31%	0.98%
Fedex CorpFDX	VMAX +0.64 points	0.23%	0.87%
Synchrony FinancialSYF	VMAX +0.63 points	0.08%	0.71%
Ferguson EnterprisesFERG	VMAX +0.62 points	0.15%	0.77%
CignaCI	VMAX +0.62 points	0.26%	0.88%
Morgan StanleyMS	SCHV +0.60 points	0.73%	0.13%
MascoMAS	VMAX +0.58 points	0.05%	0.63%
Verizon Communications IncVZ	VMAX +0.56 points	0.64%	1.20%
Exelon CorpEXC	VMAX +0.50 points	0.16%	0.66%
Valero Energy CorpVLO	VMAX +0.51 points	0.33%	0.84%
Regions FinancialRF	VMAX +0.49 points	0.08%	0.57%
Amgen IncAMGN	SCHV +0.45 points	0.83%	0.38%
Renaissancere HoldingRNR	VMAX +0.43 points	0.05%	0.48%
Ppg IndustriesPPG	VMAX +0.43 points	0.09%	0.52%
Lowes Companies IncLOW	SCHV +0.41 points	0.42%	<0.01%
Factset Research SystemsFDS	VMAX +0.40 points	0.04%	0.44%
Eversource EnergyES	VMAX +0.40 points	0.09%	0.49%
Comcast Class ACMCSA	VMAX +0.37 points	0.29%	0.66%
Cognizant Technology Solutions ClaCTSH	VMAX +0.36 points	0.10%	0.46%
Jack Henry and Associates IncJKHY	VMAX +0.34 points	0.04%	0.38%
Northern TrustNTRS	VMAX +0.33 points	0.11%	0.44%
Booz Allen Hamilton Holding ClassBAH	VMAX +0.33 points	0.03%	0.36%
SouthernSO	VMAX +0.30 points	0.36%	0.66%
United Parcel Service Inc Class BUPS	VMAX +0.30 points	0.27%	0.57%
Consolidated EdisonED	VMAX +0.25 points	0.15%	0.40%
PepsicoPEP	SCHV +0.26 points	0.65%	0.39%
Ally Financial IncALLY	VMAX +0.24 points	0.04%	0.28%
Truist FinancialTFC	VMAX +0.23 points	0.20%	0.43%
Pnc Financial Services GroupPNC	VMAX +0.21 points	0.30%	0.51%
AT&TT	VMAX +0.19 points	0.50%	0.69%
Altria Group IncMO	VMAX +0.18 points	0.43%	0.61%
QualcommQCOM	VMAX +0.19 points	0.59%	0.78%
Incyte CorpINCY	VMAX +0.18 points	0.07%	0.25%
Prologis ReitPLD	SCHV +0.17 points	0.40%	0.23%
Wells FargoWFC	VMAX +0.17 points	0.85%	1.02%
M&T BankMTB	VMAX +0.16 points	0.11%	0.27%
American Electric Power IncAEP	VMAX +0.15 points	0.23%	0.38%
KrogerKR	VMAX +0.15 points	0.13%	0.28%
Marathon PetroleumMPC	SCHV +0.11 points	0.35%	0.24%
Iron Mountain IncIRM	VMAX +0.11 points	0.11%	0.22%
PfizerPFE	SCHV +0.09 points	0.56%	0.47%
Cvs HealthCVS	VMAX +0.09 points	0.36%	0.45%
Fidelity National Information ServFIS	VMAX +0.08 points	0.05%	0.13%
Illinois Tool IncITW	VMAX +0.08 points	0.24%	0.32%
PG&E CorpPCG	VMAX +0.06 points	0.10%	0.16%
MetlifeMET	VMAX +0.06 points	0.18%	0.24%
Bank of AmericaBAC	VMAX +0.05 points	1.08%	1.13%
Dominion EnergyD	SCHV +0.05 points	0.20%	0.15%
Rpm International IncRPM	SCHV +0.02 points	0.04%	0.02%
Match Group IncMTCH	SCHV +0.02 points	0.03%	<0.01%
Principal Financial Group IncPFG	SCHV +0.01 points	0.07%	0.06%
Evercore Class AEVR	SCHV +0.01 points	0.04%	0.03%
Nextera EnergyNEE	Same weight	0.61%	0.61%
Merck & Co IncMRK	Same weight	1.21%	1.21%
Citizens Financial Group IncCFG	Same weight	0.09%	0.09%

All 569 SCHV holdings⁠All 166 VMAX 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.

SCHV vs VMAX Cost

Overpaying VMAX vs SCHV

$5,103

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

SCHV 0.04%
$849
VMAX 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

SCHV 0.04%
VMAX 0.29%
Overpaying

Year by year

Year	SCHV	VMAX	Overpaying
10	$73	$527	$454
20	$288	$2,044	$1,756
30	$849	$5,952	$5,103

Expense ratio

0.04%SCHV, cheaper
0.29%VMAX

SCHV0.04%VMAX0.29%

0.03%0.80%

Middle half of US Value Index funds
Median 0.20%

SCHV 3rd cheapest of 40 funds

VMAX 26th cheapest of 40 funds

SCHV vs VMAX Dividends

Last 12 months to Nov 9, 2026

Yield (12M): SCHV 1.81%; VMAX 2.03%, better
Payout (12M): SCHV $0.63; VMAX $1.35
Last payment: SCHV $0.16; VMAX $0.44
Ex-dividend: SCHV Sep 23, 2026; VMAX Sep 25, 2026
Paid on: SCHV Sep 28, 2026; VMAX Sep 29, 2026
Frequency: SCHV Quarterly; VMAX Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHVQuarterly · 40 paymentsAll SCHV payments⁠

VMAXQuarterly · 11 paymentsAll VMAX payments⁠

SCHV vs VMAX Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: SCHV 11.9%VMAX 12.5%since Jan 2024
Return per unit of riskSharpe ratio, 3 years: SCHV 1.31VMAX 1.16since Jan 2024
Worst fallMax drawdown, 5 years: SCHV −19.8%VMAX −19.1%since Dec 2023
Market sensitivityBeta, 5 years: SCHV 0.83VMAX 0.72; Market = 1

SCHV and VMAX in the news

All news⁠

Best ETFs
Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value
Updated Nov 3, 2026SCHV
Category Review
One US value fund returned 68% with Micron at 22.5%. The median returned 22%
Updated Sep 23, 2026SCHV

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SCHV vs VMAX

In short

Stated mandate

Why people hold it

Worth knowing

How SCHV and VMAX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SCHV

Only in VMAX

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Best large-cap value ETFs: Vanguard’s VTV at 0.03%, or VONV for the Russell 1000 Value

One US value fund returned 68% with Micron at 22.5%. The median returned 22%

How SCHV and VMAX differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SCHV

Only in VMAX

Weight gaps