SCHG vs SPY
Schwab US Large-Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, SCHG or SPY?
Large Cap Growth against Large Cap Blend.
SCHG has a lower expense ratio. SCHG led over 3Y, 5Y and the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.95. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | SCHG | SPY |
|---|---|---|
| Expense Ratio | 0.04%Best | 0.09% |
| AUM | $62.4B | $804.7B |
| Dividend Yield | 0.37% | 0.98% |
| Holdings | 196 | 505 |
| YTD Return | +7.97% | +11.45%Best |
| 1Y Return | +10.87% | +15.87%Best |
| 3Y Return (annualized) | +23.48%Best | +20.93% |
| 5Y Return (annualized) | +12.95%Best | +12.59% |
| Volatility (annualized) | 16.7% | 14.4%Best |
| Max Drawdown | -34.6% | -34.1%Best |
| $10,000 over 5 years | $18,384Best | $18,093 |
| Top 10 Weight | 51.0% | 37.8%Best |
| Fund Family | Charles Schwab Asset Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Growth | Large Cap Blend |
| Inception | Dec 11, 2009 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 11, 2009 to Sep 15, 2026 (16.8 years).
SCHG vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 16.8 years both funds cover.
SCHG vs SPY Performance
Schwab US Large-Cap Growth ETF (SCHG) is an ETF from Charles Schwab Asset Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year SCHG returned +10.87% while SPY returned +15.87%. Year to date, SCHG is up 7.97% versus a gain of 11.45% for SPY.
Over three years, SCHG compounded at +23.48% per year against +20.93% for SPY; over five years the annualized figures are +12.95% and +12.59% respectively. Across the full 17-year window we track, SCHG has the edge at +15.59% annualized vs +12.63%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHG has been the more volatile fund, with annualized monthly volatility of 16.7% compared with 14.4% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -34.6% for SCHG and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.95. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
SCHG charges 0.04% per year while SPY charges 0.09%. On a $10,000 position that is $4 vs $9 annually, a gap of $5 per year that compounds over a long holding period. On income, SCHG currently yields 0.37% against 0.98% for SPY.
Holdings Overlap
94.4% of SCHG's money is in holdings SPY also owns. 54.7% of SPY's money is in holdings SCHG also owns.
Most of SCHG is already inside SPY. Owning both mostly buys the same companies twice.
121 positions in common, counted across the 193 positions we hold weights for in SCHG and 504 in SPY, against full books of 196 and 505.
What only one of them owns
Our book lists 376 positions for SPY that do not appear in our book for SCHG (44.6% of the fund), and 66 for SCHG that do not appear in SPY (4.9%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in SCHG | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 10.67% | 8.01% | 2.66% |
| AAPLApple, Inc | 9.29% | 7.26% | 2.03% |
| MSFTMicrosoft Corp | 7.52% | 5.66% | 1.86% |
| AMZNAmazon.Com Inc | 5.07% | 3.79% | 1.28% |
| GOOGLAlphabet Inc,class A | 3.97% | 2.99% | 0.98% |
| AVGOBroadcom Inc | 3.50% | 2.66% | 0.84% |
| GOOGAlphabet Inc | 3.16% | 2.39% | 0.77% |
| METAMeta Platforms Inc | 2.51% | 1.93% | 0.58% |
| LLYEli Lilly & Co. | 2.93% | 1.40% | 1.53% |
| TSLATesla Inc | 2.37% | 1.52% | 0.85% |
94.4% of SCHG is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, SCHG or SPY?
SCHG has an expense ratio of 0.04% while SPY charges 0.09%. SCHG is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, SCHG or SPY?
Over the past year SCHG returned +10.87% vs +15.87% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SCHG annualized +15.59% vs +12.63% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, SCHG or SPY?
SCHG has been the more volatile fund at 16.7% annualized versus 14.4% for SPY. Worst drawdown: SCHG -34.6% vs SPY -34.1%.
Should I hold both SCHG and SPY?
SCHG and SPY have a monthly-return correlation of 0.95, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between SCHG and SPY?
94.4% of SCHG's money is in holdings SPY also owns. 54.7% of SPY's is in holdings SCHG also owns. They hold 121 positions in common, counted across the 193 positions we hold weights for in SCHG and 504 in SPY.
Which pays a higher dividend, SCHG or SPY?
SCHG yields 0.37% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than SCHG?
SCHG has a lower expense ratio. SCHG led over 3Y, 5Y and the full window, SPY over 1Y. The two have moved almost in lockstep, correlation 0.95. SPY is less concentrated, with 37.8% of the fund in its ten largest positions against 51.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.