---
title: "SCHD, VYM, VIG and VTV: what four dividend ETFs share, and what each adds"
url: https://portfolio-terminal.com/blog/schd-vym-vig-vtv-dividend-etf-overlap
author: "Julien Esnault"
publisher: "Portfolio Terminal"
published: 2026-11-16
type: guide
tags: ["Research", "ETFs", "Dividends"]
summary: "Hold SCHD, VYM, VIG and VTV in equal parts and 64.6% of the money sits in companies at least three of the four hold. 99.3% of SCHD is in companies VYM holds; VIG adds the most the others lack, 28.1%. Issuer files of September 30 and October 13, 2026."
---

> **Source:** Julien Esnault, "SCHD, VYM, VIG and VTV: what four dividend ETFs share, and what each adds", Portfolio Terminal, 2026-11-16. https://portfolio-terminal.com/blog/schd-vym-vig-vtv-dividend-etf-overlap
> When you use a figure from this article, cite it with the line above and link to the URL. Figures are checked against the primary data named in the Sources line at the end.

## In short

- An equal mix of SCHD, VYM, VIG and VTV held 807 different stocks, and 64.6% of its money sat in companies at least three of the four dividend and value ETFs held, on issuer files of September 30 and October 13, 2026.
- 99.3% of the Schwab U.S. Dividend Equity ETF (SCHD) sat in companies the Vanguard High Dividend Yield ETF (VYM) also held, yet the two funds shared only 21.9% of their money by weight, on files of October 13 and September 30, 2026.
- Of the four dividend and value ETFs, VYM and VTV were the most alike, 69.4% by weight across 194 stocks, and SCHD and VIG the least, 14.5% across 33, on issuer files of September 30 and October 13, 2026.
- The Vanguard Dividend Appreciation ETF (VIG) had 28.1% of its money in companies none of SCHD, VYM and VTV held, led by Microsoft 4.9% and Apple 4.9%; the Schwab U.S. Dividend Equity ETF (SCHD) had 0.4%, on files of September 30 and October 13, 2026.

# SCHD, VYM, VIG and VTV: what four dividend ETFs share, and what each adds

**Short answer:** in an equal mix of [SCHD](https://portfolio-terminal.com/analyse/schd), VYM, [VIG](https://portfolio-terminal.com/analyse/vig) and VTV, 64.6% of the money sits in companies at least three of the four hold, on issuer files of September 30 and October 13, 2026. Pair by pair, VYM and VTV are the most alike, 69.4% the same money; SCHD and VIG the least, 14.5%.

We measured all six pairs on the issuers’ full holdings files. “Same money” is the part you would own twice: for each stock both funds hold, take the smaller of its two weights, and add them up. The next two columns read one fund at a time: how much of it sits in stocks the other fund holds, at any weight.

| Pair | Stocks in both | Same money | One fund in the other’s stocks | The reverse |
|---|---|---|---|---|
| [SCHD and VYM](https://portfolio-terminal.com/etf-overlap/schd-vs-vym) | 79 | 21.9% | 99.3% of SCHD | 21.9% of VYM |
| [SCHD and VTV](https://portfolio-terminal.com/etf-overlap/schd-vs-vtv) | 40 | 17.9% | 91.8% of SCHD | 17.9% of VTV |
| [SCHD and VIG](https://portfolio-terminal.com/etf-overlap/schd-vs-vig) | 33 | 14.5% | 56.7% of SCHD | 14.5% of VIG |
| [VYM and VTV](https://portfolio-terminal.com/etf-overlap/vym-vs-vtv) | 194 | 69.4% | 79.8% of VYM | 69.4% of VTV |
| [VYM and VIG](https://portfolio-terminal.com/etf-overlap/vig-vs-vym) | 209 | 60.6% | 63.3% of VYM | 63.3% of VIG |
| [VIG and VTV](https://portfolio-terminal.com/etf-overlap/vig-vs-vtv) | 120 | 51.5% | 61.6% of VIG | 51.5% of VTV |

The reverse often equals the same money: the fund with more holdings usually has the smaller weight on each stock the two share, so all of its shared weight is owned twice.

The Vanguard Value ETF (VTV), the Vanguard High Dividend Yield ETF (VYM) and the Vanguard Dividend Appreciation ETF (VIG) are read on Vanguard’s month-end files of September 30, 2026; SCHD on Schwab’s file of October 13, 13 days later.

![Grid of the four dividend and value ETFs read one way, each row the share of that fund’s money in companies the column fund holds: SCHD 99.3% in VYM, 91.8% in VTV, 56.7% in VIG; VYM 79.8% in VTV; VIG 63.3% in VYM; issuer files of September 30 and October 13, 2026](https://portfolio-terminal.com/blog-sources/dividend-etf-overlap-one-way.png "Each row’s money in companies the column fund holds. Source: Schwab and Vanguard holdings files.")

## SCHD is almost all inside VYM, and still not VYM

99.3% of SCHD is in companies VYM holds, and 91.8% in companies VTV holds. Yet SCHD and VYM share 21.9% of their money. The gap is weight. SCHD holds 98 stocks and puts 41.8% in its ten largest; VYM holds 593 and puts 26.2% in its ten largest. The companies they share most:

| Company | Weight in SCHD | Weight in VYM |
|---|---|---|
| [Chevron](https://portfolio-terminal.com/analyse/cvx) | 4.3% | 1.6% |
| [Merck](https://portfolio-terminal.com/analyse/mrk) | 3.9% | 1.5% |
| [Procter & Gamble](https://portfolio-terminal.com/analyse/pg) | 4.3% | 1.4% |

A VYM holder who adds SCHD buys almost nothing VYM lacks. What changes is the weight: SCHD puts about three times VYM’s weight on the companies the two share most.

## A quarter in each: 807 stocks

Put a quarter of the money in each fund and the mix holds 807 different stocks. How many of the four funds hold each one:

| Held by | Stocks | Share of the mix |
|---|---|---|
| All four | 19 | 23.1% |
| Three | 103 | 41.4% |
| Two | 252 | 20.5% |
| One | 433 | 14.8% |

The 19 stocks held by all four make 23.1%, and SCHD’s heavy weights lead them:

| Company | SCHD | VYM | VIG | VTV | In the mix |
|---|---|---|---|---|---|
| [Procter & Gamble](https://portfolio-terminal.com/analyse/pg) | 4.3% | 1.4% | 1.5% | 1.3% | 2.1% |
| [Coca-Cola](https://portfolio-terminal.com/analyse/ko) | 4.3% | 1.4% | 1.5% | 1.3% | 2.1% |
| [Merck](https://portfolio-terminal.com/analyse/mrk) | 3.9% | 1.5% | 1.6% | 1.4% | 2.1% |
| UnitedHealth | 3.9% | 1.4% | 1.5% | 1.2% | 2.0% |
| [Texas Instruments](https://portfolio-terminal.com/analyse/txn) | 4.7% | 1.1% | 1.1% | 0.5% | 1.9% |
| Home Depot | 3.9% | 1.2% | 1.3% | 1.1% | 1.8% |

## What each one adds that the other three don’t

| Fund | Alone | Stocks | Largest |
|---|---|---|---|
| SCHD | 0.4% | 13 | Federated Hermes 0.1%, 13 stocks in all, 10 of them financials |
| VYM | 6.9% | 252 | NXP Semiconductors 0.3%, Targa Resources 0.2% |
| VIG | 28.1% | 91 | [Microsoft](https://portfolio-terminal.com/analyse/msft) 4.9%, [Apple](https://portfolio-terminal.com/analyse/aapl) 4.9%, [Eli Lilly](https://portfolio-terminal.com/analyse/lly) 4.1% |
| VTV | 23.7% | 77 | [Micron](https://portfolio-terminal.com/analyse/mu) 4.6%, [Berkshire Hathaway (class B)](https://portfolio-terminal.com/analyse/brk-b) 2.9% |

VIG and VTV are the two that change the mix. VIG holds [Microsoft](https://portfolio-terminal.com/analyse/msft), [Apple](https://portfolio-terminal.com/analyse/aapl) and [Eli Lilly](https://portfolio-terminal.com/analyse/lly), dividend growers the high-yield and value funds leave out. VTV holds [Micron](https://portfolio-terminal.com/analyse/mu) and [Berkshire Hathaway (class B)](https://portfolio-terminal.com/analyse/brk-b), which none of the three dividend funds holds.

## Each one next to VOO

Against the Vanguard S&P 500 ETF ([VOO](https://portfolio-terminal.com/analyse/voo)), on the same Vanguard file date:

| Fund | Overlap with VOO | In VOO’s stocks | Most over VOO | Most under VOO |
|---|---|---|---|---|
| SCHD | 7.6% | 94.9% | consumer staples +15.8, energy +13.0 | technology −27.4 |
| VYM | 33.3% | 92.5% | financials +9.6, energy +6.7 | technology −23.4 |
| VIG | 40.3% | 95.5% | financials +9.3, health care +9.3 | technology −13.1 |
| VTV | 41.1% | 98.5% | financials +11.3, health care +7.5 | technology −27.0 |

![Sector weight of SCHD, VYM, VIG and VTV minus that of VOO, in points, on issuer files of September 30 and October 13, 2026: technology −27.4 for SCHD, −23.4 for VYM, −13.1 for VIG and −27.0 for VTV; consumer staples +15.8 and energy +13.0 for SCHD](https://portfolio-terminal.com/blog-sources/dividend-etf-sector-tilt-vs-voo.png "Sector weight minus VOO’s, in points, GICS sectors. Source: Schwab and Vanguard holdings files.")

All four hold mostly S&P 500 stocks, from 92.5% of VYM to 98.5% of VTV, and all four hold much less technology than VOO. SCHD is the furthest from VOO: 7.6% of the same money, with 15.8 more points of consumer staples and 13.0 more of energy. VTV and VIG are the closest, 41.1% and 40.3%.

## Check your own funds

Add the funds you hold: the checker measures every pair on the issuers’ full files, both ways.

*(Interactive overlap check: open https://portfolio-terminal.com/blog/schd-vym-vig-vtv-dividend-etf-overlap to run it on your own portfolio.)*

If you hold VYM and VTV, 69.4% of the two is the same money; if you hold SCHD and VIG, 14.5%. Hold three or four of them, or one next to VOO? The [Portfolio X-Ray](https://portfolio-terminal.com/x-ray) adds up every company across all the funds you own.

Each pair has its own page on the [ETF overlap tool](https://portfolio-terminal.com/etf-overlap), with every shared company and both file dates: [SCHD and VTV](https://portfolio-terminal.com/etf-overlap/schd-vs-vtv), [SCHD and VYM](https://portfolio-terminal.com/etf-overlap/schd-vs-vym), [VIG and VTV](https://portfolio-terminal.com/etf-overlap/vig-vs-vtv), [VIG and VYM](https://portfolio-terminal.com/etf-overlap/vig-vs-vym). Those pages read the site’s own copy of each file, refreshed every month and dated on the page, so their figures can differ from this study’s by the month between two files. How the overlap is measured, and why the two readings differ, is in our [guide to checking ETF overlap](https://portfolio-terminal.com/blog/how-to-check-etf-overlap); returns and fees of SCHD against VIG are on [SCHD vs VIG](https://portfolio-terminal.com/compare/schd-vs-vig). For a tech portfolio, the same measure is in [VGT, SMH, QQQ, VUG: how much of your tech is the same](https://portfolio-terminal.com/blog/vgt-smh-qqq-vug-tech-etf-overlap), and how closely look-alike funds moved over a year in our [study of ETF swap pairs](https://portfolio-terminal.com/blog/tax-loss-harvesting-etf-swap-pairs).

## How we measured

**Data.** The five funds’ full holdings files, as each issuer published them: Schwab’s for SCHD of October 13, 2026 (98 stocks and two cash lines); Vanguard’s month-end files for VYM (593), VIG (333), VTV (298) and VOO (505) of September 30, 2026.

**Method.** Overlap both ways is the sum, over companies both funds hold, of the smaller weight; weights are shares of each fund’s net assets. One way is the sum of a fund’s weights in the companies the other holds. Companies are matched on their ISIN (the 12-character security code), or one derived from the CUSIP. The mix holds a quarter of each fund. Sectors are the GICS sectors in the files.

**Limits.**

- SCHD’s file is 13 days newer than Vanguard’s: Vanguard posts month-end holdings only.
- Cash, futures and other lines that are not stocks are left out: at most 0.5% of a fund (VIG). Schwab’s file lists SCHD’s cash as two lines, a money market fund and US dollars; they count as cash here.
- Overlap says what you own twice, not how two funds move together, and nothing here measures dividend yield or fees.

**What would change the result:** Vanguard’s next month-end files, the reviews of the funds’ indexes, and the weights of the largest companies, which move with their prices.

## Reproduce it

reproduce.py reads the five files exactly as we measured them, published with this article (each row carries its fund’s file date and issuer source), measures the six pairs, the mix and each fund against VOO, then checks our VTV file against the one the site serves for VTV. We ran it on November 13, 2026, on this article’s files before publication: every figure matched.

```python
# Reproduces https://portfolio-terminal.com/blog/schd-vym-vig-vtv-dividend-etf-overlap
# pip install requests
# Reads the five funds' holdings as we measured them (one dated issuer file per fund, its source on
# its rows), measures the six pairs both ways, a quarter in each fund, what each holds alone and
# each against VOO, then checks our VTV file against the one the site serves on its VTV page.
import csv, os, requests

SITE = os.environ.get("SITE", "https://portfolio-terminal.com")
UA = {"User-Agent": "Mozilla/5.0 (Macintosh; Intel Mac OS X 10_15_7) AppleWebKit/537.36 Chrome/128.0.0.0 Safari/537.36"}
FUNDS = "SCHD VYM VIG VTV".split()

def get(path):
    lines = requests.get(SITE + path, headers=UA, timeout=60).text.splitlines()
    return [line for line in lines if not line.startswith("#")]

W, DATE, NAME = {f: {} for f in FUNDS + ["VOO"]}, {}, {}
for row in csv.DictReader(get("/blog-sources/dividend-etf-overlap-holdings.csv")):
    f, i = row["fund"], row["isin_or_id"]
    W[f][i] = W[f].get(i, 0.0) + float(row["weight_pct"]) / 100
    DATE[f], NAME[i] = row["file_date"], row["ticker"] or row["name"]

pct = lambda v: f"{v * 100:.1f}%"
print("files: " + " ".join(f"{f} {DATE[f]}" for f in FUNDS + ["VOO"]))
for x, a in enumerate(FUNDS):
    for b in FUNDS[x + 1:]:
        both = W[a].keys() & W[b].keys()
        o = sum(min(W[a][i], W[b][i]) for i in both)
        a_in_b, b_in_a = sum(W[a][i] for i in both), sum(W[b][i] for i in both)
        print(f"{a}/{b}: overlap {pct(o)}, {a} in {b}'s companies {pct(a_in_b)}, {b} in {a}'s {pct(b_in_a)}, {len(both)} in both")

# A quarter in each fund: every company once, with how many of the four hold it.
mix, held = {}, {}
for f in FUNDS:
    for i, w in W[f].items():
        mix[i] = mix.get(i, 0.0) + w / 4
        held[i] = held.get(i, 0) + 1
tiers = {k: [i for i in mix if held[i] == k] for k in (4, 3, 2, 1)}
print(f"a quarter in each: {len(mix)} stocks; " + ", ".join(f"held by {k}: {len(ids)} stocks, {pct(sum(mix[i] for i in ids))}" for k, ids in tiers.items()))
print(f"in companies at least three hold: {pct(sum(mix[i] for i in tiers[4] + tiers[3]))}")

for f in FUNDS:
    others = set().union(*(W[g].keys() for g in FUNDS if g != f))
    alone = sorted(((w, i) for i, w in W[f].items() if i not in others), reverse=True)
    print(f"{f} alone: {pct(sum(w for w, _ in alone))} in {len(alone)} stocks, first " + ", ".join(f"{NAME[i]} {pct(w)}" for w, i in alone[:2]))

for f in FUNDS:
    both = W[f].keys() & W["VOO"].keys()
    print(f"{f} and VOO: overlap {pct(sum(min(W[f][i], W['VOO'][i]) for i in both))}, {f} in VOO's companies {pct(sum(W[f][i] for i in both))}")

# Our VTV file against the site's VTV page, the same Vanguard file of September 30, 2026.
served = {}
for row in csv.DictReader(get("/etf/vtv/holdings.csv")):
    served[row["isin_or_id"]] = served.get(row["isin_or_id"], 0.0) + float(row["weight_pct"]) / 100
gap = max(abs(served.get(i, 0.0) - W["VTV"].get(i, 0.0)) for i in served.keys() | W["VTV"].keys())
print(f"VTV on the site: {len(served)} lines, ours {len(W['VTV'])}, largest weight gap {gap * 100:.3f} points (the site rounds weights to 4 decimals)")
```

```text
files: SCHD 2026-10-13 VYM 2026-09-30 VIG 2026-09-30 VTV 2026-09-30 VOO 2026-09-30
SCHD/VYM: overlap 21.9%, SCHD in VYM's companies 99.3%, VYM in SCHD's 21.9%, 79 in both
SCHD/VIG: overlap 14.5%, SCHD in VIG's companies 56.7%, VIG in SCHD's 14.5%, 33 in both
SCHD/VTV: overlap 17.9%, SCHD in VTV's companies 91.8%, VTV in SCHD's 17.9%, 40 in both
VYM/VIG: overlap 60.6%, VYM in VIG's companies 63.3%, VIG in VYM's 63.3%, 209 in both
VYM/VTV: overlap 69.4%, VYM in VTV's companies 79.8%, VTV in VYM's 69.4%, 194 in both
VIG/VTV: overlap 51.5%, VIG in VTV's companies 61.6%, VTV in VIG's 51.5%, 120 in both
a quarter in each: 807 stocks; held by 4: 19 stocks, 23.1%, held by 3: 103 stocks, 41.4%, held by 2: 252 stocks, 20.5%, held by 1: 433 stocks, 14.8%
in companies at least three hold: 64.6%
SCHD alone: 0.4% in 13 stocks, first FHI 0.1%, AGM 0.1%
VYM alone: 6.9% in 252 stocks, first NXPI 0.3%, TRGP 0.2%
VIG alone: 28.1% in 91 stocks, first MSFT 4.9%, AAPL 4.9%
VTV alone: 23.7% in 77 stocks, first MU 4.6%, BRK-B 2.9%
SCHD and VOO: overlap 7.6%, SCHD in VOO's companies 94.9%
VYM and VOO: overlap 33.3%, VYM in VOO's companies 92.5%
VIG and VOO: overlap 40.3%, VIG in VOO's companies 95.5%
VTV and VOO: overlap 41.1%, VTV in VOO's companies 98.5%
VTV on the site: 298 lines, ours 298, largest weight gap 0.000 points (the site rounds weights to 4 decimals)
```

Sources: [Schwab, SCHD holdings](https://www.schwabassetmanagement.com/allholdings/SCHD) · [Vanguard, VYM holdings](https://investor.vanguard.com/investment-products/etfs/profile/vym#portfolio-composition) · [Vanguard, VIG holdings](https://investor.vanguard.com/investment-products/etfs/profile/vig#portfolio-composition) · [Vanguard, VTV holdings](https://investor.vanguard.com/investment-products/etfs/profile/vtv#portfolio-composition) · [Vanguard, VOO holdings](https://investor.vanguard.com/investment-products/etfs/profile/voo#portfolio-composition)

## Questions and answers

**Do SCHD and VTV overlap?**

Yes, by 17.9% of their money, across 40 stocks, on Schwab’s file of October 13 and Vanguard’s of September 30, 2026. Read from SCHD’s side it is much more: 91.8% of the Schwab U.S. Dividend Equity ETF sits in companies the Vanguard Value ETF holds, with its largest shared companies at about three times VTV’s weight.

**Is SCHD inside VYM?**

By name, almost: 99.3% of the Schwab U.S. Dividend Equity ETF (SCHD) is in companies the Vanguard High Dividend Yield ETF (VYM) holds, on files of October 13 and September 30, 2026. By weight, no: the two share 21.9% of their money, because SCHD’s largest line, Texas Instruments, is 4.7% of the fund and VYM spreads over 593 lines.

**Can I hold SCHD and VIG together?**

Nothing stops it, and they repeat the least of the four: 14.5% of their money, across 33 stocks, on files of October 13 and September 30, 2026. 28.1% of the Vanguard Dividend Appreciation ETF (VIG) is in companies none of SCHD, VYM and VTV holds, led by Microsoft, Apple and Eli Lilly.

**Which two of SCHD, VYM, VIG and VTV are the most alike?**

The Vanguard High Dividend Yield ETF (VYM) and the Vanguard Value ETF (VTV): 69.4% of their money is the same, across 194 stocks, on Vanguard’s files of September 30, 2026. The least alike are SCHD and VIG, at 14.5%.

**How many stocks do SCHD, VYM, VIG and VTV hold together?**

807 different stocks, on issuer files of September 30 and October 13, 2026. 19 are in all four funds and make 23.1% of an equal mix; 103 more are in three of them and make 41.4%. 433 stocks are in one fund only, 14.8% of the mix.

**How different is SCHD from VOO?**

Very, by weight: the Schwab U.S. Dividend Equity ETF (SCHD) and the Vanguard S&P 500 ETF (VOO) share 7.6% of their money, on files of October 13 and September 30, 2026, although 94.9% of SCHD is in S&P 500 companies. SCHD holds 15.8 points more consumer staples and 27.4 points less technology than VOO.