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ETF Comparison

SCHB vs VOO: Everything, or Just Large Caps?

A head-to-head of Schwab's U.S. Broad Market ETF and Vanguard's S&P 500 ETF covering index breadth, cost, and overlap.

Updated October 2, 2026

How these figures are calculated: methodology.

Best for

  • SCHBInvestors who want the price-weighted Dow thirty rather than the cap-weighted S&P 500.
  • VOOInvestors who want the cap-weighted S&P 500 rather than the price-weighted Dow thirty.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SCHB has lagged VOO over the trailing twelve months, posting a 16.06% total return against 16.45%. The lead holds up over 10 years too: VOO has compounded at 15.46% a year, against 14.87% for SCHB. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Sep 2010Volatility Sharpe Sortino Max drawdown
SCHB13.46%16.06%22.81%12.58%14.87%14.56%15.1%1.071.54-19.3%
VOO13.59%16.45%23.23%13.71%15.46%14.93%14.8%1.111.61-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 2, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Sep 2010” measures every fund from September 9, 2010 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSCHBVOO
Full nameSchwab U.S. Broad Market ETFVanguard S&P 500 ETF
IssuerSchwabVanguard
Underlying indexDow Jones U.S. Broad Stock Market IndexS&P 500 Index
Last Close$29.61 as of October 2, 2026$707.54 as of October 2, 2026
Distribution rate1.09%1.03%
Trailing 12-month yield1.04%1.05%
Distribution Safety Score™ 100100
Safety-Adjusted Yield 1.09%1.03%
Expense ratio0.03%0.03%
AUM$44.9B$1041B
Distribution frequencyQuarterlyQuarterly
ObjectiveProvide exposure to the fund's underlying index or strategy per issuer materials.Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date11/03/200909/07/2010
Beta1.031.0
Last dividend$0.0809$1.8226
Ex-dividend date09/23/202609/28/2026

Bottom lineChoose SCHB if you want the price-weighted Dow thirty rather than the cap-weighted S&P 500. Choose VOO if you want the cap-weighted S&P 500 rather than the price-weighted Dow thirty.

SCHB vs VOO: broad market or the S&P 500?

SCHB is the broad US market. VOO is large caps. Holding both doubles the S&P 500 names already inside SCHB.

SCHBVOO
IndexDow Jones U.S. Broad Stock Market IndexS&P 500 Index
Expense ratio0.03%0.03%
Distribution rate1.09%1.03%
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Income calculator

See how much monthly income a hypothetical investment would generate in each ETF at current yields.

Schwab
ETFs33
Total AUM$612B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHB.

See all Schwab ETFs
Vanguard
ETFs116
Total AUM$4676B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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Quick verdict

SCHB (Schwab U.S. Broad Market ETF) and VOO (Vanguard S&P 500 ETF) are both quarterly-pay dividend ETFs, but they take different approaches.

SCHB offers the higher yield at 1.09% vs 1.03% for VOO. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

They have different reference exposures: SCHB is linked to Dow Jones U.S. Broad Stock Market Index while VOO is linked to S&P 500 Index, which means their performance drivers differ.

VOO is the larger fund by assets ($1041B), but assets alone do not establish trading costs or liquidity.

Who should choose each?

Choose SCHB

Schwab U.S. Broad Market ETF

  • Want the price-weighted Dow thirty — a higher share price, not a bigger company, earns a bigger weight.
  • Want broad equity exposure.

Choose VOO

Vanguard S&P 500 ETF

  • Want the cap-weighted S&P 500 — five hundred names, weighted by company size.
  • Want simple, diversified core exposure as a portfolio building block.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, SCHB would generate roughly $27.25 cash per distribution, while VOO would produce $25.75 cash per distribution, at current distribution rates. Both pay quarterly distributions.

SCHB yield1.09%
VOO yield1.03%
Cash diff on $10K$1.50

Cost & efficiency

Over 10 years on $10,000, SCHB would cost approximately $30 in fees vs $30 for VOO (simplified, not compounded). Both charge the same expense ratio.

SCHB ER0.03%
VOO ER0.03%

Strategy & risk

SCHB tracks Dow Jones U.S. Broad Stock Market Index with an index approach, while VOO tracks S&P 500 Index with a large cap approach. Beta is 1.03 for SCHB and 1.0 for VOO — effectively similar market sensitivity.

SCHB beta1.03
VOO beta1.0

Fund details

SCHB is managed by Schwab (launched 11/03/2009) with $44.9B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets.

SCHB AUM$44.9B
VOO AUM$1041B
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Frequently asked questions

What is the difference between SCHB and VOO?

SCHB (Schwab U.S. Broad Market ETF) tracks the broad US market. VOO (Vanguard S&P 500 ETF) tracks S&P 500 Index. Most of SCHB is already large-cap names inside VOO. Cost is 0.03% versus 0.03%; distributions are 1.09% and 1.03% as of October 2026. Breadth versus large-cap only is the decision.

What is the current distribution rate for SCHB and VOO?

SCHB currently distributes 1.09% and VOO 1.03%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SCHB or VOO better for dividend income?

It depends on your goals. SCHB currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both SCHB and VOO?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SCHB or VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: SCHB scores 100, VOO scores 100. Neither has a clear safety edge on that measure. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHB or VOO?

SCHB and VOO both charge the same expense ratio of 0.03%, so neither is cheaper on fees — pick based on yield, strategy, or underlying index instead.

How much income does $10,000 in SCHB vs VOO generate?

At current rates, $10,000 in SCHB would generate roughly $27.25 cash per distribution ($109.00 annually). The same in VOO would produce about $25.75 cash per distribution ($103.00 annually).

Which has performed better historically, SCHB or VOO?

SCHB has lagged VOO over the trailing twelve months, posting a 16.06% total return against 16.45%. The lead holds up over 10 years too: VOO has compounded at 15.46% a year, against 14.87% for SCHB. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHB vs VOO — at a glance

Generated October 3, 2026.

Overview

SCHB and VOO are both broad-market equity index ETFs tracking large-cap U.S. stocks, but they differ in scope. SCHB tracks the Dow Jones U.S. Broad Stock Market Index, which includes large-, mid-, and small-cap stocks across the full market. VOO tracks the S&P 500 Index, which is limited to 500 large-cap companies. The key distinction is breadth: SCHB captures the entire U.S. equity market, while VOO focuses on the blue-chip segment.

How they differ

The single biggest difference is index composition. SCHB holds thousands of stocks spanning all market capitalizations through its broad-market index, while VOO holds only 500 large-cap names. This means SCHB has meaningful exposure to mid- and small-cap equities that VOO excludes entirely—a structural difference that drives their risk and return profiles.

Second, their yields and distributions differ slightly. SCHB distributes at 1.09%, while VOO yields 1.03%. Both pay quarterly, so the difference is modest but real over time.

Third, SCHB and VOO are identical on cost—both charge 0.03%—but differ dramatically in asset base. VOO manages $1041B versus SCHB's $44.9B, making VOO one of the largest ETFs globally. Beta also separates them: SCHB reports 1.03, suggesting slightly more volatility than the broad market, while VOO's 1.0 aligns with large-cap indices by definition.

Who each is best for

  • SCHB: Fits investors seeking maximum diversification across U.S. equity market-cap tiers in a single holding, including exposure to mid- and small-cap stocks that large-cap-only strategies exclude.
  • VOO: Fits investors who want pure large-cap index exposure and prefer a fund with the deepest liquidity and smallest fee in the large-cap space.

Key risks to know

  • Index mismatch: SCHB's broad-market exposure includes mid- and small-cap stocks, which historically exhibit higher volatility and drawdowns than large-cap-only indices. The composition difference means SCHB and VOO will diverge meaningfully in market stress.
  • Small-cap sensitivity: SCHB's embedded small-cap allocation amplifies cyclical and recession risk relative to VOO. During equity-market downturns, smaller-cap holdings may underperform large-cap anchors.
  • Rebalancing drag: SCHB's broader holdings increase the number of positions to manage and rebalance, which could introduce small performance differences over very long periods as the fund executes larger numbers of trades.

Bottom line

If you want the entire U.S. stock market in one fund, SCHB delivers broad diversification across all tiers; if you prefer to focus on large-cap stability and the simplicity of the S&P 500, VOO offers the same rock-bottom fee with a vastly larger asset base. The choice hinges on whether you view small- and mid-cap omission as a meaningful gap or a reasonable boundary for a core holding. Past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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These comparisons follow the Dividend Vision methodology.