SCHD vs DGRO: ETF Overlap

Schwab U.S. Dividend Equity ETF vs iShares Core Dividend Growth ETF — shared top holdings, sector duplication, and what makes each fund different.

Data as of October 20, 2026

High overlap

SCHD and DGRO share 1 of their 10 biggest holdings

Shared top holdings

Procter & Gamble: 4.2% of SCHD, 2.3% of DGRO

Only in SCHD's top 10: Texas Instruments 4.7%
Only in SCHD's top 10: Qualcomm 4.6%
Only in SCHD's top 10: Merck 4.1%
Only in DGRO's top 10: Microsoft 3.2%
Only in DGRO's top 10: Apple 3.2%
Only in DGRO's top 10: ExxonMobil 3.1%

Yearly fee on $10,000

SCHD: $6 a year, expense ratio 0.06%
DGRO: $8 a year, expense ratio 0.08%

Where they differ

Tech
Financials
Communication
Consumer
Health
Other

Add a third fund

What's different between SCHD and DGRO?

The largest SCHD positions missing from DGRO's disclosed top holdings are TXN, QCOM, MRK. In the other direction, DGRO's largest positions not in SCHD's top list are MSFT, AAPL, XOM. Disclosed lists cover 41.5% of SCHD and 27.4% of DGRO; the sector table below compares the funds on complete data.

What does this overlap mean?

73.9% sector overlap is high. The funds share most of their market exposure; the second fund adds a tilt rather than real diversification. Make sure the tilt (dividends, tech, size) is one you actually want twice.

Sector breakdown: SCHD vs DGRO

Sector	SCHD	DGRO	Overlap
Consumer Staples	20.1%	12.3%	12.3%
Financial Services	9.2%	19.6%	9.2%
Health Care	19.3%	17.5%	17.5%
Technology	16%	19.3%	16%
Energy	15.4%	5.5%	5.5%
Industrials	7.3%	10.6%	7.3%
Utilities	0.1%	6.9%	0.1%
Consumer Discretionary	6.7%	5.9%	5.9%
Communication Services	5.9%	0.1%	0.1%
Materials	0%	2.4%	0%
Real Estate	0%	0%	0%

How we calculate it

Holdings overlap sums min(weight in fund A, weight in fund B) across positions that appear in both funds' disclosed top-holdings lists — public data discloses only each fund's largest positions, so this number is a lower bound on true full-portfolio overlap. Sector overlap applies the same min() logic to the funds' complete sector allocations, which cover ~100% of each fund, making it the more complete signal of duplication.

Re-run this comparison live

Fund holdings change over time. Open SCHD vs DGRO in the interactive ETF overlap calculator for a fresh comparison — or swap in any other tickers.

Open in the calculator

All comparisons run on the free ETF overlap calculator.

More ETF comparisons

Data & methodology disclaimer

This tool is for education, not investment advice. Holdings and sector data come from public market-data feeds, reflect each fund's most recently disclosed top positions, and can lag the fund's actual portfolio. Overlap computed from disclosed top holdings is a lower bound. Always verify against the fund provider's official holdings file before making decisions.

Track your real portfolio, not just two tickers

Connect your full holding list in the planner: combined look-through exposure, net worth tracking, and your path to financial independence — no spreadsheet required.

Create my account