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.

Data updated August 19, 2026

Best for

SCHBInvestors who want broad equity exposure.
VOOInvestors who want simple, diversified core exposure in one low-cost fund.

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

SCHB has outpaced VOO over the trailing twelve months, posting a 21.16% total return against 20.95%. The picture flips over 10 years, though — VOO has compounded at 15.30% a year, ahead of SCHB at 14.79%. 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.
Symbol	YTD	1Y	3Y	5Y	10Y	Since Sep 2010	Volatility	Sharpe	Sortino	Max drawdown
SCHB	13.61%	21.16%	21.93%	12.51%	14.79%	14.68%	15.2%	1.01	1.46	-19.3%
VOO	13.20%	20.95%	22.16%	13.44%	15.30%	15.02%	14.9%	1.05	1.51	-18.7%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — the youngest fund's first trading day — 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.
Metric	SCHB	VOO
Full name	Schwab U.S. Broad Market ETF	Vanguard S&P 500 ETF
Issuer	Schwab	Vanguard
Last Close	$29.68 as of August 19, 2026	$705.40 as of August 19, 2026
Distribution yield	1.01%	1.11%
Distribution Safety Score™	100	100
Expense ratio	0.03%	0.03%
AUM	$45.2B	$1045B
Distribution frequency	Quarterly	Quarterly
Underlying index	Dow Jones U.S. Broad Stock Market Index	S&P 500 Index
Objective	Provide 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 class	Equity	Equity
Inception date	11/03/2009	09/07/2010
Beta	1.03	1.0
Last dividend	$0.0753	$1.9622
Ex-dividend date	06/24/2026	06/26/2026

Bottom lineChoose SCHB if you want broad equity exposure. Choose VOO if you want simple, diversified core exposure in one low-cost fund.

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.

	SCHB	VOO
Index	Dow Jones U.S. Broad Stock Market Index	S&P 500 Index
Expense ratio	0.03%	0.03%
Distribution yield	1.01%	1.11%

Model this comparison:

Compare in my portfolio Forecast income Save to watchlist

Income calculator

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

Schwab

ETFs34

Total AUM$616B

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$4703B

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

Want to go deeper?

Add these ETFs to a sample portfolio and forecast your dividend income over 5+ years — free to start, no credit card.

Compare in my portfolio Forecast income Save to watchlist

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.

VOO offers the higher yield at 1.11% vs 1.01% for SCHB. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

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

VOO is the larger fund by assets ($1045B), which generally means tighter spreads and better liquidity.

Still deciding? Track SCHB & VOO for free

Create a free Dividend Vision account to keep them on a watchlist, get notified when they declare dividends, and see how much income they would add to your portfolio.

Add to my watchlist See what a free account includes

Deep dive

Yield & income

On a $10,000 investment, SCHB would generate roughly $8.42/month, while VOO would produce $9.25/month, at current distribution rates. Both pay quarterly distributions.

SCHB yield1.01%

VOO yield1.11%

Monthly diff on $10K$0.83

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 $45.2B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1045B in assets.

SCHB AUM$45.2B

VOO AUM$1045B

Ready to act?

Open in Comparator Model in portfolio See pricing

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 1.01% and 1.11% as of August 2026. Breadth versus large-cap only is the decision.

What is the current distribution yield for SCHB and VOO?

SCHB currently distributes 1.01% and VOO 1.11%, based on fund data updated August 2026. Distribution yield 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. VOO 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 $8.42 per month ($101.00 annually). The same in VOO would produce about $9.25 per month ($111.00 annually).

Which has performed better historically, SCHB or VOO?

More comparisons to explore

People also compare SCHB with

People also compare VOO with

Popular comparisons

SCHB vs VOO — at a glance

Generated August 15, 2026.

Overview

SCHB and VOO are both broad-market equity ETFs tracking different U.S. stock indexes. SCHB uses the Dow Jones U.S. Broad Stock Market Index, which captures roughly 3,500 stocks across large, mid, and small-cap segments. VOO tracks the S&P 500, limiting exposure to the 500 largest companies. The key difference: SCHB spans the full market; VOO concentrates on large-cap names.

How they differ

The biggest distinction is breadth. SCHB's underlying index includes thousands of mid- and small-cap stocks absent from VOO's S&P 500 focus. This makes SCHB's portfolio materially broader, though both track U.S. equities. Yield is nearly identical—SCHB at 1.00% and VOO at 1.10%—with both paying quarterly and charging 0.03% in expenses. Scale differs dramatically: VOO has $1032B in assets versus SCHB's $44.7B, a 23-fold gap that gives VOO tighter bid-ask spreads and deeper liquidity. SCHB's beta of 1.03 versus VOO's 1.0 reflects slightly higher small- and mid-cap sensitivity.

Who each is best for

SCHB: Fits investors seeking exposure across all U.S. market capitalizations and wanting to own mid- and small-cap stocks as part of a single holding. Also suits those who prefer a broader market-weight structure over a large-cap concentration.

VOO: Fits investors comfortable with large-cap-only exposure and valuing the institutional-grade liquidity and cost certainty that come with the industry's largest equity ETF by assets.

Key risks to know

Market concentration in mega-cap names. VOO's S&P 500 exposure means roughly 30–35% of the index's weight typically sits in the "Magnificent Seven" and similar mega-cap tech and growth stocks. A correction in large-cap tech hits VOO more directly; SCHB's broader index dilutes that concentration.

Small- and mid-cap volatility in SCHB. The roughly 3,000 non-S&P 500 stocks in SCHB's index introduce higher idiosyncratic risk and wider price swings during equity sell-offs. SCHB's 1.03 beta reflects this extra sensitivity to market stress.

Liquidity mismatch. VOO's $1032B in assets ensures near-institutional-grade trading tightness. SCHB, at $44.7B, still offers tradable liquidity but materially wider potential spreads during volatile markets.

Index-composition differences may create sector overlap. Both track U.S. equities and will move together during broad market rallies or declines. Their holdings overlap significantly in large-cap space; the degree to which they track together depends on which sectors dominate each index at any given time.

Bottom line

Both ETFs charge identically and distribute yields near 1%, making the choice hinge on index philosophy. If you want the simplicity and liquidity of a 500-stock large-cap index, VOO's massive scale delivers institutional-grade trading efficiency. If you want exposure to the full U.S. market including thousands of mid- and small-cap names, SCHB's broader index captures that spectrum. Past performance of either index does not predict future results; the S&P 500's outperformance in recent years does not guarantee it will continue to beat broader-market alternatives.

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.

Still deciding? Compare them against your own portfolio

See how each ETF fits alongside your real holdings — forecast future income, analyze overlap, and gauge risk. Start a free 7-day Dividend Vision trial and make the call with your full portfolio in view.

Start Free Open in Comparator Browse Screener