SCHX vs SPXN: Grades, Fees and Holdings Compared

Schwab U.S. Large-Cap ETF

SCHXANYSE Arca

ProShares S&P 500 Ex-Financials ETF

SPXNBNYSE Arca

Overlap

81.3%by weight

Expense ratio

SCHX −0.06pt a year

SCHX0.03%SPXN0.09%

Avg volume · 30D

SCHX 10829.7×the volume

SCHX9.93MSPXN917

10Y return · a year

SPXN +0.4pt

SCHX+15.3%SPXN+15.7%

SCHX vs SPXN Performance

Oct 29, 2021 – Oct 30, 2026

+71.6%SCHX+81.3%SPXN

Expense ratio: SCHX 0.03%, better; SPXN 0.09%
Fund size: SCHX $73.2B; SPXN $78M
1Y total return: SCHX +11.5%; SPXN +12.2%, better
Yield (12M): SCHX 1.05%, better; SPXN 0.87%
Holdings: SCHX 753; SPXN 397
Avg volume (30D): SCHX 9.93M sh, better; SPXN 917 sh
NAV per share: SCHX $29.72; SPXN $82.80
52W range

ETF.net Grade

Pillar letters and Scores for SCHX, SPXN, with each pillar’s weight
Pillar	SCHX	SPXN
Cost30% weight	A91Higher	A73
Mission25% weight	A99	A99
Risk15% weight	C48Higher	C43
Tradability15% weight	A88Higher	D34
Holdings10% weight	A70Higher	D34
Durability5% weight	A89Higher	B62

Rank among US Large-Cap funds

How we build Categories ›

Same Category. SCHX and SPXN are both graded against the same 29 US Large-Cap funds, so their Grades compare head to head.

US Large-Cap⁠

Category · 29 funds

See all 29 ›

SCHX ranks 1st and SPXN 10th of 29 funds in the US Large-Cap Category.

Rank 1ASCHXSchwab U.S. Large-Cap ETFScore 83
Rank 2ABKLCBNY Mellon US Large Cap Core Equity ETFScore 82
Rank 8BSPXTProShares S&P 500 Ex-Technology ETFScore 67
Rank 10BSPXNProShares S&P 500 Ex-Financials ETFScore 64
Rank 10BXOEFiShares S&P 500 ex S&P 100 ETFScore 64

Our read on each fund

ETF.net Research

SCHXASchwab U.S. Large-Cap ETF

SPXNBProShares S&P 500 Ex-Financials ETF

In short

SCHX Schwab's no-frills large-cap core: roughly 800 US big names for three basis points, running since 2009. One of the cheapest tickets in a crowded category, and it hugs its index tightly.

SPXN The S&P 500 with one sector cut out. SPXN holds the index minus banks, insurers and the rest of the financials sector, so you get large-cap America with the Wall Street slice removed.

Stated mandate

SCHX The fund seeks to track, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Total Stock Market Index.

SPXN SPXN is designed to provide large-cap S&P 500 exposure with the Financials sector excluded.

Why people hold it

SCHX 0.03% a year, well under the typical US large-cap fund's fee. That is the kind of cost floor only the biggest fund shops can hold.
About 800 stocks tracking the Dow Jones U.S. Large-Cap Total Stock Market Index before fees. No themes, no screens, no manager hunches.schwabassetmanagement.com
Tracking has been among the tightest in its peer group: the fund delivers its index with very little slippage.
Live since 2009 and now a multi-billion-dollar fund that trades heavily, so spreads stay thin and the lights are unlikely to go out.

SPXN Costs 0.09% a year, below the typical large-cap ETF in its group.
Does the one thing on the label: roughly 400 S&P 500 names with financials stripped out, tracked closely against its ex-financials benchmark.proshares.com
Plain-vanilla plumbing: a 1940 Act index ETF running since 2015, paying distributions quarterly. No swaps, no leverage, no reset math.
Sits in the upper half of its large-cap peer group on ETF.net's review.

Worth knowing

SCHX Large caps only, despite the index name. Mid and small caps live in a separate fund, so this is one slice of the market, not all of it.
Three basis points is cheap, not free: BKLC in the same peer group runs at zero.
Dividends land quarterly, not monthly, which matters if you're building an income schedule.

SPXN Thinly traded, so spreads can be wider than the giants of the category. Limit orders matter more here.
Broad large-cap alternatives run cheaper: SCHX and VV both charge 0.03%.
Cutting a whole sector is an active call. Returns will drift from the plain S&P 500 in both directions, and the remaining sectors carry more weight.proshares.com

Full SCHX profile⁠

Full SPXN profile⁠

SCHX vs SPXN Holdings

How SCHX and SPXN differ

Overlap by weight

81.3%

Shared holdings make up 99.7% of SPXN and 81.4% of SCHX.

Level by level

Holdings392 in both81.3%
Sector11 Sectors86.2%
Asset classEquity100%
Countryby domicile99.7%

Sector

Sector weights in SCHX and SPXN, widest gap first
Sector	More in SCHXMore in SPXN	SCHX	SPXN
Financials	SCHX +11.7 points	11.7%	0.0%
Technology	SPXN +7.5 points	38.8%	46.3%
Communication	SPXN +3.0 points	8.5%	11.4%
Real Estate	SCHX +1.9 points	1.9%	0.0%
Consumer Discretionary	SPXN +1.2 points	8.9%	10.1%
Health Care	SPXN +0.9 points	9.8%	10.7%
Industrials	SPXN +0.6 points	8.1%	8.7%
Consumer Staples	SPXN +0.4 points	4.6%	5.0%
Utilities	SPXN +0.2 points	2.0%	2.2%
Materials	SCHX +0.2 points	2.0%	1.8%
Energy	SPXN +0.1 points	3.8%	3.9%

Country, concentration and asset class

Country by domicile

Country weights in SCHX and SPXN, widest gap first
Country	More in SCHXMore in SPXN	SCHX	SPXN
United States	SPXN +0.2 points	99.5%	99.7%
Switzerland	SCHX +0.2 points	0.3%	0.1%
China	Same weight	0.1%	0.1%
United Kingdom	SCHX +0.1 points	0.1%	0.0%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
Sweden	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

SCHX35.3%
SPXN43.2%

Securities held

SCHX753
SPXN396

Asset class

SCHX: Equity
SPXN: Equity

Holdings

Only in SCHX361
In both392
Only in SPXN4

Only in SCHX

361 securities, 18.6% of SCHX by weight

Berkshire Hathaway Inc Class B1.43%
JPMorgan Chase1.30%
Visa Class A0.99%
Mastercard Class A0.73%
Bank of America0.47%
Goldman Sachs Group0.38%
Wells Fargo0.36%
Morgan Stanley0.32%
Citigroup0.30%
Space Exploration Technologies Cor0.28%
American Express0.24%
BlackRock0.24%
Welltower0.24%
Charles Schwab0.20%
S&P Global0.20%
Progressive0.19%
Capital One Financial Corp0.18%
Chubb0.18%
Prologis Reit0.17%
Snowflake0.16%
Cme Group Class A0.15%
Equinix Reit0.15%
Bank of New York Mellon Corp0.14%
Cloudflare Class A0.14%
Us Bancorp0.13%
Marsh0.13%
Pnc Financial Services Group0.13%
Intercontinental Exchange0.13%
Blackstone0.13%
American Tower Reit0.12%
Travelers Companies0.12%
Moodys0.10%
Robinhood Markets Class A0.10%
Simon Property Group Reit Inc0.10%
Arthur J Gallagher0.10%
Aon PLC Class A0.10%
Kkr and Co Inc0.09%
Cheniere Energy0.09%
Allstate Corp0.09%
Digital Realty Trust Reit0.09%
Natera0.09%
Truist Financial0.09%
Apollo Global Management0.08%
Aflac0.08%
Realty Income Reit0.08%
Metlife0.08%
Public Storage Reit0.08%
Strategy Inc Class A0.07%
Fifth Third Bancorp0.07%
PayPal Holdings0.07%

Only in SPXN

4 securities, 0.0% of SPXN by weight

Fox Corp - Class B0.01%
Smith (A.o.) Corp0.01%
Mosaic Co/The0.01%
News Corp - Class B<0.01%

Weight gaps

The 100 widest of 392 Holdings in both funds.

Holding weights in SCHX and SPXN, widest gap first
Holding	More in SCHXMore in SPXN	SCHX	SPXN
AppleAAPL	SPXN +1.70 points	7.23%	8.93%
NVIDIANVDA	SPXN +1.44 points	7.35%	8.79%
MicrosoftMSFT	SPXN +1.29 points	5.59%	6.88%
Amazon Com IncAMZN	SPXN +0.79 points	3.40%	4.19%
Alphabet Class AGOOGL	SPXN +0.55 points	2.37%	2.92%
Eli LillyLLY	SPXN +0.45 points	1.56%	2.01%
Meta Platforms Class AMETA	SPXN +0.45 points	1.96%	2.41%
Alphabet Class CGOOG	SPXN +0.44 points	1.91%	2.35%
Broadcom IncAVGO	SPXN +0.42 points	2.33%	2.75%
Tesla IncTSLA	SPXN +0.38 points	1.62%	2.00%
Exxonmobil Holdings CorpXOM	SPXN +0.30 points	1.07%	1.37%
Micron TechnologyMU	SPXN +0.27 points	1.50%	1.77%
Johnson & JohnsonJNJ	SPXN +0.23 points	0.94%	1.17%
WalmartWMT	SPXN +0.21 points	0.77%	0.98%
AbbVieABBV	SPXN +0.20 points	0.73%	0.93%
ChevronCVX	SPXN +0.18 points	0.65%	0.83%
Costco Wholesale CorpCOST	SPXN +0.17 points	0.63%	0.80%
Advanced Micro DevicesAMD	SPXN +0.15 points	1.31%	1.46%
Merck & Co IncMRK	SPXN +0.15 points	0.51%	0.66%
Coca-ColaKO	SPXN +0.14 points	0.51%	0.65%
Procter & GamblePG	SPXN +0.14 points	0.53%	0.67%
UnitedHealth GroupUNH	SPXN +0.13 points	0.52%	0.65%
Cisco Systems IncCSCO	SPXN +0.12 points	0.61%	0.73%
Home DepotHD	SPXN +0.11 points	0.47%	0.58%
Philip Morris InternationalPM	SPXN +0.12 points	0.46%	0.58%
Palantir Technologies Class APLTR	SPXN +0.11 points	0.64%	0.75%
RtxRTX	SPXN +0.10 points	0.38%	0.48%
Ge AerospaceGE	SPXN +0.10 points	0.46%	0.56%
Amgen IncAMGN	SPXN +0.10 points	0.35%	0.45%
NetflixNFLX	SPXN +0.09 points	0.37%	0.46%
Linde PLCLIN	SPXN +0.09 points	0.33%	0.42%
Palo Alto NetworksPANW	SPXN +0.09 points	0.44%	0.53%
Caterpillar IncCAT	SPXN +0.09 points	0.42%	0.51%
International Business Machines CoIBM	SPXN +0.08 points	0.35%	0.43%
Thermo Fisher ScientificTMO	SPXN +0.09 points	0.37%	0.46%
Gilead SciencesGILD	SPXN +0.09 points	0.29%	0.38%
Texas InstrumentTXN	SPXN +0.08 points	0.41%	0.49%
Lam ResearchLRCX	SPXN +0.08 points	0.45%	0.53%
Crowdstrike Holdings Class ACRWD	SPXN +0.07 points	0.38%	0.45%
Applied Material IncAMAT	SPXN +0.07 points	0.48%	0.55%
PepsicoPEP	SPXN +0.07 points	0.26%	0.33%
ConocophillipsCOP	SPXN +0.07 points	0.26%	0.33%
Verizon Communications IncVZ	SPXN +0.07 points	0.26%	0.33%
Intel Corporation CorpINTC	SCHX +0.07 points	0.65%	0.58%
Ge VernovaGEV	SPXN +0.07 points	0.34%	0.41%
Abbott LaboratoriesABT	SPXN +0.07 points	0.26%	0.33%
Walt DisneyDIS	SPXN +0.07 points	0.27%	0.34%
Nextera EnergyNEE	SPXN +0.07 points	0.24%	0.31%
PfizerPFE	SPXN +0.07 points	0.24%	0.31%
Kimberly ClarkKMB	SPXN +0.07 points	0.05%	0.12%
Union PacificUNP	SPXN +0.06 points	0.26%	0.32%
DeereDE	SPXN +0.06 points	0.24%	0.30%
Accenture PLC Class AACN	SPXN +0.06 points	0.22%	0.28%
Mcdonalds CorpMCD	SPXN +0.06 points	0.26%	0.32%
SalesforceCRM	SPXN +0.06 points	0.27%	0.33%
Analog DevicesADI	SPXN +0.06 points	0.30%	0.36%
Amphenol Corp Class AAPH	SPXN +0.06 points	0.29%	0.35%
OracleORCL	SPXN +0.06 points	0.34%	0.40%
Vertex PharmaceuticalsVRTX	SPXN +0.06 points	0.19%	0.25%
AT&TT	SPXN +0.06 points	0.20%	0.26%
KlaKLAC	SPXN +0.06 points	0.31%	0.37%
TjxTJX	SPXN +0.06 points	0.22%	0.28%
Medtronic PLCMDT	SPXN +0.05 points	0.17%	0.22%
Marathon PetroleumMPC	SPXN +0.05 points	0.17%	0.22%
Altria Group IncMO	SPXN +0.05 points	0.18%	0.23%
Bristol Myers SquibbBMY	SPXN +0.05 points	0.18%	0.23%
Regeneron PharmaceuticalsREGN	SPXN +0.05 points	0.11%	0.16%
DanaherDHR	SPXN +0.05 points	0.21%	0.26%
Valero Energy CorpVLO	SPXN +0.04 points	0.16%	0.20%
BoeingBA	SPXN +0.05 points	0.19%	0.24%
Uber TechnologiesUBER	SPXN +0.05 points	0.19%	0.24%
Automatic Data Processing IncADP	SPXN +0.05 points	0.16%	0.21%
Intuitive SurgicalISRG	SPXN +0.04 points	0.23%	0.27%
PhillipsPSX	SPXN +0.04 points	0.16%	0.20%
Lockheed MartinLMT	SPXN +0.04 points	0.19%	0.23%
Mckesson CorpMCK	SPXN +0.05 points	0.16%	0.21%
Lowes Companies IncLOW	SPXN +0.04 points	0.17%	0.21%
Cvs HealthCVS	SPXN +0.04 points	0.16%	0.20%
Arista NetworksANET	SPXN +0.04 points	0.27%	0.31%
SouthernSO	SPXN +0.04 points	0.15%	0.19%
Starbucks CorpSBUX	SPXN +0.04 points	0.17%	0.21%
Eaton PLCETN	SPXN +0.04 points	0.22%	0.26%
Duke Energy CorpDUK	SPXN +0.04 points	0.14%	0.18%
Booking HoldingsBKNG	SPXN +0.04 points	0.16%	0.20%
IntuitINTU	SPXN +0.04 points	0.13%	0.17%
Adobe IncADBE	SPXN +0.04 points	0.14%	0.18%
Parker-HannifinPH	SPXN +0.03 points	0.17%	0.20%
General Dynamics CorpGD	SPXN +0.04 points	0.13%	0.17%
Marvell TechnologyMRVL	SPXN +0.04 points	0.27%	0.31%
Mondelez International Class AMDLZ	SPXN +0.04 points	0.11%	0.15%
Seagate Technology Holdings PLCSTX	SPXN +0.03 points	0.23%	0.26%
Comcast Class ACMCSA	SPXN +0.04 points	0.11%	0.15%
CsxCSX	SPXN +0.03 points	0.14%	0.17%
T Mobile Us IncTMUS	SPXN +0.03 points	0.10%	0.13%
Eog ResourcesEOG	SPXN +0.03 points	0.12%	0.15%
Waste Management IncWM	SPXN +0.03 points	0.12%	0.15%
NewmontNEM	SPXN +0.03 points	0.17%	0.20%
ServicenowNOW	SPXN +0.03 points	0.16%	0.19%
Elevance Health IncELV	SPXN +0.03 points	0.13%	0.16%
WilliamsWMB	SPXN +0.03 points	0.13%	0.16%

All 754 SCHX holdings⁠All 399 SPXN 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.

SCHX vs SPXN Cost

Overpaying SPXN vs SCHX

$1,260

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

SCHX 0.03%
$638
SPXN 0.09%
$1,898

Amount$10,000

Years30 years

Cost over time

SCHX 0.03%
SPXN 0.09%
Overpaying

Year by year

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

Expense ratio

0.03%SCHX, cheaper
0.09%SPXN

SCHX0.03%SPXN0.09%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

SCHX 3rd cheapest of 29 funds

SPXN 7th cheapest of 29 funds

SCHX vs SPXN Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCHX 1.05%, better; SPXN 0.87%
Payout (12M): SCHX $0.31; SPXN $0.72
Last payment: SCHX $0.08; SPXN $0.18
Ex-dividend: SCHX Sep 23, 2026; SPXN Sep 23, 2026
Paid on: SCHX Sep 28, 2026; SPXN Sep 29, 2026
Frequency: SCHX Quarterly; SPXN Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHXQuarterly · 41 paymentsAll SCHX payments⁠

SPXNQuarterly · 39 paymentsAll SPXN payments⁠

SCHX vs SPXN Risk

Fall from peak · 5 years

SCHX
SPXN

Risk facts

VolatilityStd dev, 3 years: SCHX 12.5%, betterSPXN 13.0%
Return per unit of riskSharpe ratio, 3 years: SCHX 1.40, betterSPXN 1.37
Worst fallMax drawdown, 5 years: SCHX −25.4%SPXN −24.5%, better
Market sensitivityBeta, 5 years: SCHX 1.01SPXN 1.04; Market = 1

SCHX and SPXN in the news

All news⁠

Category Review
Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.
Updated Oct 16, 2026SCHX

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SCHX vs SPXN

In short

Stated mandate

Why people hold it

Worth knowing

How SCHX and SPXN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SCHX

Only in SPXN

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Broad U.S. large-cap funds kept pace with the S&P 500 this year. The top 50 did not.

How SCHX and SPXN differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in SCHX

Only in SPXN

Weight gaps