SCHX vs XLG: Grades, Fees and Holdings Compared

Schwab U.S. Large-Cap ETF

SCHXANYSE Arca

Invesco S&P 500 Top 50 ETF

XLGBNYSE Arca

Overlap

59.4%by weight

Expense ratio

SCHX −0.17pt a year

SCHX0.03%XLG0.20%

Avg volume · 30D

SCHX 8.5×the volume

SCHX9.93MXLG1.17M

10Y return · a year

XLG +1.4pt

SCHX+15.3%XLG+16.7%

SCHX vs XLG Performance

Oct 29, 2021 – Oct 30, 2026

+71.6%SCHX+80.1%XLG

Expense ratio: SCHX 0.03%, better; XLG 0.20%
Fund size: SCHX $73.2B; XLG $11.5B
1Y total return: SCHX +11.5%, better; XLG +3.3%
Yield (12M): SCHX 1.05%, better; XLG 0.64%
Holdings: SCHX 753; XLG 53
Avg volume (30D): SCHX 9.93M sh, better; XLG 1.17M sh
NAV per share: SCHX $29.72; XLG $61.47
52W range

ETF.net Grade

Pillar letters and Scores for SCHX, XLG, with each pillar’s weight
Pillar	SCHX	XLG
Cost30% weight	A91Higher	C50
Mission25% weight	A99Higher	A86
Risk15% weight	C48Higher	D25
Tradability15% weight	A88	A95Higher
Holdings10% weight	A70Higher	D27
Durability5% weight	A89Higher	A87

Rank among US Large-Cap funds

How we build Categories ›

Same Category. SCHX and XLG 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 XLG 14th 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 12BSPXVProShares S&P 500 Ex-Health Care ETFScore 63
Rank 14BXLGInvesco S&P 500 Top 50 ETFScore 61
Rank 14BXMAGLarge Cap Ex-Mag 7 ETFScore 61

Our read on each fund

ETF.net Research

SCHXASchwab U.S. Large-Cap ETF

XLGBInvesco S&P 500 Top 50 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.

XLG The S&P 500's top shelf, bottled on its own. About 50 of the largest US companies, weighted by size, tracked since 2005. The same giants a total-market fund owns, without the several hundred smaller names riding behind them.

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.

XLG The fund seeks to track the performance of the S&P 500 Top 50 Index by investing at least 90% of assets in securities included in that index.

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.

XLG Concentration on purpose: it holds the 50 largest S&P 500 companies by float-adjusted market cap, weighted the same way, so the biggest names carry the most weight.yahoo.com
A two-decade track record (live since 2005) with index tracking that stays close to the benchmark and an actively traded market in the shares.
A lineup you can actually read: roughly 50 holdings, all household names, with cash paid out to shareholders quarterly.

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.

XLG At 0.20% a year it costs more than the typical large-cap index fund in its group, where rivals like SCHX and VV charge 0.03%.
Non-diversified by SEC definition. With about 50 stocks, one giant or one sector stumbling moves this fund more than it moves a 500-stock index.yahoo.com
It is the S&P 500 minus its smaller half, so next to a broad US fund it concentrates exposure you likely already hold rather than adding a new corner of the market.

Full SCHX profile⁠

Full XLG profile⁠

SCHX vs XLG Holdings

How SCHX and XLG differ

Overlap by weight

59.4%

Shared holdings make up 99.9% of XLG and 59.4% of SCHX.

Level by level

Holdings51 in both59.4%
Sector11 Sectors81.8%
Countryby domicile99.5%
Asset classEquity100%

Sector

Sector weights in SCHX and XLG, widest gap first
Sector	More in SCHXMore in XLG	SCHX	XLG
Technology	XLG +12.6 points	38.8%	51.4%
Industrials	SCHX +5.8 points	8.1%	2.3%
Communication	XLG +5.0 points	8.5%	13.5%
Health Care	SCHX +3.4 points	9.8%	6.4%
Financials	SCHX +2.4 points	11.7%	9.3%
Utilities	SCHX +2.0 points	2.0%	0.0%
Real Estate	SCHX +1.9 points	1.9%	0.0%
Materials	SCHX +1.5 points	2.0%	0.5%
Energy	SCHX +1.3 points	3.8%	2.5%
Consumer Discretionary	XLG +0.3 points	8.9%	9.2%
Consumer Staples	XLG +0.2 points	4.6%	4.8%

Country, concentration and asset class

Country by domicile

Country weights in SCHX and XLG, widest gap first
Country	More in SCHXMore in XLG	SCHX	XLG
United States	XLG +0.5 points	99.5%	100.0%
Other countries (6)	SCHX +0.6 points	0.6%	0.0%

Concentration

Weight in the 10 largest Holdings

SCHX35.3%
XLG59.4%

Securities held

SCHX753
XLG52

Asset class

SCHX: Equity
XLG: Equity

Holdings

Only in SCHX702
In both51
Only in XLG1

Only in SCHX

702 securities, 40.6% of SCHX by weight

Palo Alto Networks0.44%
Rtx0.38%
Crowdstrike Holdings Class A0.38%
Thermo Fisher Scientific0.37%
Amgen Inc0.35%
Citigroup0.30%
Analog Devices0.30%
Gilead Sciences0.29%
Amphenol Corp Class A0.29%
Space Exploration Technologies Cor0.28%
Arista Networks0.27%
Walt Disney0.27%
Marvell Technology0.27%
Salesforce0.27%
Abbott Laboratories0.26%
Conocophillips0.26%
Union Pacific0.26%
Nextera Energy0.24%
Pfizer0.24%
American Express0.24%
BlackRock0.24%
Welltower0.24%
Deere0.24%
Seagate Technology Holdings PLC0.23%
Intuitive Surgical0.23%
Tjx0.22%
Eaton PLC0.22%
Accenture PLC Class A0.22%
Danaher0.21%
Charles Schwab0.20%
Dell Technologies Inc Class C0.20%
AT&T0.20%
Western Digital Corp0.20%
S&P Global0.20%
Vertex Pharmaceuticals0.19%
Boeing0.19%
Uber Technologies0.19%
Progressive0.19%
Lockheed Martin0.19%
Altria Group Inc0.18%
Capital One Financial Corp0.18%
Chubb0.18%
Bristol Myers Squibb0.18%
Prologis Reit0.17%
Marathon Petroleum0.17%
Starbucks Corp0.17%
Medtronic PLC0.17%
Newmont0.17%
Parker-Hannifin0.17%
Lowes Companies Inc0.17%

Only in XLG

1 security, 0.0% of XLG by weight

Invesco Government & Agency Portfolio0.02%

Weight gaps

All 51 Holdings in both funds, largest gap first.

Holding weights in SCHX and XLG, widest gap first
Holding	More in SCHXMore in XLG	SCHX	XLG
NVIDIANVDA	XLG +5.01 points	7.35%	12.36%
AppleAAPL	XLG +4.94 points	7.23%	12.17%
MicrosoftMSFT	XLG +3.82 points	5.59%	9.41%
Amazon Com IncAMZN	XLG +2.32 points	3.40%	5.72%
Alphabet Class AGOOGL	XLG +1.61 points	2.37%	3.98%
Broadcom IncAVGO	XLG +1.59 points	2.33%	3.92%
Meta Platforms Class AMETA	XLG +1.33 points	1.96%	3.29%
Alphabet Class CGOOG	XLG +1.30 points	1.91%	3.21%
Tesla IncTSLA	XLG +1.10 points	1.62%	2.72%
Eli LillyLLY	XLG +1.07 points	1.56%	2.63%
Micron TechnologyMU	XLG +1.02 points	1.50%	2.52%
Berkshire Hathaway Inc Class BBRK.B	XLG +0.98 points	1.43%	2.41%
Advanced Micro DevicesAMD	XLG +0.90 points	1.31%	2.21%
JPMorgan ChaseJPM	XLG +0.88 points	1.30%	2.18%
Exxonmobil Holdings CorpXOM	XLG +0.73 points	1.07%	1.80%
Visa Class AV	XLG +0.68 points	0.99%	1.67%
Johnson & JohnsonJNJ	XLG +0.64 points	0.94%	1.58%
WalmartWMT	XLG +0.52 points	0.77%	1.29%
AbbVieABBV	XLG +0.50 points	0.73%	1.23%
Mastercard Class AMA	XLG +0.50 points	0.73%	1.23%
Intel Corporation CorpINTC	XLG +0.44 points	0.65%	1.09%
ChevronCVX	XLG +0.44 points	0.65%	1.09%
Palantir Technologies Class APLTR	XLG +0.44 points	0.64%	1.08%
Costco Wholesale CorpCOST	XLG +0.43 points	0.63%	1.06%
Cisco Systems IncCSCO	XLG +0.41 points	0.61%	1.02%
Procter & GamblePG	XLG +0.36 points	0.53%	0.89%
UnitedHealth GroupUNH	XLG +0.36 points	0.52%	0.88%
Merck & Co IncMRK	XLG +0.35 points	0.51%	0.86%
Coca-ColaKO	XLG +0.35 points	0.51%	0.86%
Applied Material IncAMAT	XLG +0.32 points	0.48%	0.80%
Bank of AmericaBAC	XLG +0.33 points	0.47%	0.80%
Home DepotHD	XLG +0.31 points	0.47%	0.78%
Ge AerospaceGE	XLG +0.32 points	0.46%	0.78%
Philip Morris InternationalPM	XLG +0.32 points	0.46%	0.78%
Lam ResearchLRCX	XLG +0.31 points	0.45%	0.76%
Caterpillar IncCAT	XLG +0.29 points	0.42%	0.71%
Texas InstrumentTXN	XLG +0.27 points	0.41%	0.68%
Goldman Sachs GroupGS	XLG +0.26 points	0.38%	0.64%
NetflixNFLX	XLG +0.25 points	0.37%	0.62%
Wells FargoWFC	XLG +0.25 points	0.36%	0.61%
International Business Machines CoIBM	XLG +0.23 points	0.35%	0.58%
OracleORCL	XLG +0.24 points	0.34%	0.58%
Ge VernovaGEV	XLG +0.23 points	0.34%	0.57%
Linde PLCLIN	XLG +0.22 points	0.33%	0.55%
Morgan StanleyMS	XLG +0.22 points	0.32%	0.54%
KlaKLAC	XLG +0.21 points	0.31%	0.52%
QualcommQCOM	XLG +0.19 points	0.28%	0.47%
SandiskSNDK	XLG +0.18 points	0.28%	0.46%
PepsicoPEP	XLG +0.18 points	0.26%	0.44%
Mcdonalds CorpMCD	XLG +0.18 points	0.26%	0.44%
Verizon Communications IncVZ	XLG +0.17 points	0.26%	0.43%

All 754 SCHX holdings⁠All 52 XLG 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 XLG Cost

Overpaying XLG vs SCHX

$3,517

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

SCHX 0.03%
$638
XLG 0.20%
$4,155

Amount$10,000

Years30 years

Cost over time

SCHX 0.03%
XLG 0.20%
Overpaying

Year by year

Year	SCHX	XLG	Overpaying
10	$55	$365	$310
20	$216	$1,421	$1,205
30	$638	$4,155	$3,517

Expense ratio

0.03%SCHX, cheaper
0.20%XLG

SCHX0.03%XLG0.20%

0.00%1.25%

Middle half of US Large-Cap funds
Median 0.20%

SCHX 3rd cheapest of 29 funds

XLG 15th cheapest of 29 funds

SCHX vs XLG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): SCHX 1.05%, better; XLG 0.64%
Payout (12M): SCHX $0.31; XLG $0.40
Last payment: SCHX $0.08; XLG $0.09
Ex-dividend: SCHX Sep 23, 2026; XLG Sep 21, 2026
Paid on: SCHX Sep 28, 2026; XLG Sep 25, 2026
Frequency: SCHX Quarterly; XLG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

SCHXQuarterly · 41 paymentsAll SCHX payments⁠

XLGQuarterly · 39 paymentsAll XLG payments⁠

SCHX vs XLG Risk

Fall from peak · 5 years

SCHX
XLG

Risk facts

VolatilityStd dev, 3 years: SCHX 12.5%, betterXLG 14.5%
Return per unit of riskSharpe ratio, 3 years: SCHX 1.40, betterXLG 1.23
Worst fallMax drawdown, 5 years: SCHX −25.4%, betterXLG −28.0%
Market sensitivityBeta, 5 years: SCHX 1.01XLG 1.06; Market = 1

SCHX and XLG 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, 2026SCHXXLG

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