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Yes—SCHD and VYM overlap in both individual stocks and sectors. UnitedHealth Group (UNH) and Home Depot (HD) appear in the top-ten holdings shown for both funds. That proves duplication, but it does not provide a whole-portfolio overlap percentage. To measure total overlap, compare complete holdings files from the same date, match ticker symbols, and calculate both shared names and shared portfolio weight.
What the overlap means
Two exchange-traded funds can overlap in several different ways. They may own the same companies, allocate money to the same industries, or both. The practical question is not simply whether SCHD and VYM share anything—they do—but how much duplication remains after you account for every holding and each position’s weight.
The published top-ten lists provide a quick screening check. UNH and HD are listed among the top ten of both funds in the cited provider snapshots. SCHD also lists Procter & Gamble (PG) in its top ten, while PG is not in VYM’s cited top-ten list. That example shows why top-ten comparisons cannot establish complete overlap: a stock can be shared but fall outside one fund’s top ten.
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The snapshots also use different effective dates. SCHD’s displayed top holdings are dated October 15, 2026, while VYM’s fact sheet is dated June 30, 2026. Market prices, index rebalances and corporate actions can change weights between those dates, so the two top-ten lists are not a same-day comparison.
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How SCHD and VYM are designed
| Characteristic | SCHD | VYM |
|---|---|---|
| Investment objective | Tracks as closely as possible, before fees and expenses, the total return of the Dow Jones U.S. Dividend 100 Index. | Seeks to track the FTSE High Dividend Yield Index. |
| Approach described by the provider | Low-cost exposure focused on dividend quality and sustainability. | Passively managed, full replication. |
| Holdings in cited snapshot | 102 holdings, as of October 15, 2026. | 605 stocks, as of June 30, 2026. |
| Expense ratio | 0.060%. | 0.04% in the June 30, 2026 fact sheet. |
| Real-estate treatment | The cited sector table does not show a real-estate allocation; the fund’s methodology should be checked before treating that as a universal exclusion. | The benchmark includes high-yielding U.S. stocks and excludes REITs. |
These designs help explain why the funds can overlap without being interchangeable. SCHD selects a much smaller group of companies through a dividend-focused index, whereas VYM spreads exposure across hundreds of high-dividend-yielding U.S. stocks. A 102-stock portfolio will usually have more room for individual positions to affect results than a 605-stock portfolio, although the actual effect depends on each fund’s weighting rules.
The fee difference is small but measurable. At a constant $10,000 balance, 0.060% represents approximately $6 per year and 0.04% approximately $4 per year, before changes in asset value, trading costs, taxes or other investor expenses. Those are arithmetic illustrations of the stated expense ratios, not a forecast of account performance.
Holdings-overlap checklist
1. Use matching effective dates
Start with holdings snapshots published for the same date. Do not pair SCHD’s October 15, 2026 list with VYM’s June 30, 2026 list and call the result a precise current overlap percentage. If only different dates are available, label the comparison as a dated screening exercise and record both dates beside every result.
2. Download complete holdings files
Use the full portfolio files from the fund providers rather than a webpage showing only the largest positions. A complete file normally includes a ticker, security name and portfolio weight. Preserve the original file date and whether weights are reported as percentages or decimals.
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3. Normalize ticker symbols
Match securities by ticker only after checking share-class and symbol conventions. Remove accidental spaces, standardize capitalization and investigate any symbol that appears in one file but not the other. A name can look similar while representing a different security, and a ticker can change after a corporate action.
4. Count shared names
After matching the two complete lists, count each ticker present in both. This is the raw shared-holding count. The known top-ten examples, UNH and HD, belong in that count, but they are not the count itself.
5. Calculate name overlap
A useful size-adjusted measure divides the number of shared tickers by the smaller fund’s total holdings count:
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Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Name overlap = shared tickers ÷ smaller holdings count × 100Using the smaller denominator prevents a broad 605-stock portfolio from making the same shared set look artificially small simply because SCHD has fewer holdings. State the denominator, the two holdings counts and the effective date in the result.
6. Calculate weight overlap
Name overlap treats a 0.01% position and a 10% position as equal. Weight overlap addresses that limitation by adding the smaller weight for every shared ticker:
Weight overlap = Σ min(SCHD weight, VYM weight) for every shared tickerFor each common symbol, compare the two portfolio weights and add the lower one. The result estimates the portion of one portfolio that could be matched by the other when both are fully aligned by ticker. Report the date and explain whether the weights were taken before or after rounding in the source files.
7. Keep a reproducible worksheet
| Column | What to record |
|---|---|
| Ticker | Normalized symbol used for matching. |
| SCHD weight | Exact provider-reported percentage for the selected date. |
| VYM weight | Exact provider-reported percentage for the same date. |
| Shared? | Yes when the ticker appears in both complete files. |
| Lower weight | The smaller of the two weights, used in the weight-overlap sum. |
This worksheet lets you distinguish a few conspicuous shared names from meaningful portfolio duplication. It also makes the calculation auditable when a fund rebalances or a provider republishes a file.
Sector overlap in the cited June 30, 2026 profiles
Both funds have exposure to several of the same broad sectors, but their largest concentrations are different. The figures below come from provider materials dated June 30, 2026. Sector labels are not perfectly standardized: SCHD uses “Information Technology” and “Communication Services,” while VYM uses “Technology” and “Telecommunications.” Treat those pairs as related categories, not guaranteed one-for-one classifications.
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| Sector or closest label | SCHD | VYM |
|---|---|---|
| Health Care | 20.72% | 12.4% |
| Consumer Staples | 20.38% | 8.5% |
| Energy | 14.07% | 8.5% |
| Industrials | 11.55% | 14.4% |
| Financials | 10.05% | 20.6% |
| Information Technology / Technology | 9.23% | 14.6% |
| Consumer Discretionary | 7.74% | 7.9% |
| Communication Services / Telecommunications | 6.15% | 4.0% |
| Utilities | 0.11% | 6.0% |
| Basic Materials | Not stated in the cited SCHD sector table | 3.0% |
| Real Estate | Not stated in the cited SCHD sector table | 0.0% |
| Other | Not stated in the cited SCHD sector table | 0.0% |
Where the sector exposure overlaps
Health care, industrials, consumer staples, energy and consumer discretionary appear in both profiles. Those shared categories mean that combining the funds does not create two completely independent sector portfolios. If both funds own the same companies in one of those categories, the company-level duplication will be greater than the sector table alone suggests.
Where the concentrations differ
SCHD’s largest cited allocations are health care at 20.72% and consumer staples at 20.38%, followed by energy at 14.07%. VYM’s largest are financials at 20.6%, technology at 14.6% and industrials at 14.4%. VYM also reports a materially larger utilities allocation, 6.0% versus SCHD’s 0.11% in the cited profiles.
This difference can make a two-fund portfolio behave differently from either fund alone. Adding VYM to SCHD may broaden the number of holdings and add financial, technology and utility exposure, but it can still reinforce sectors that both already emphasize.
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VYM’s benchmark methodology excludes REITs, and its cited sector table reports 0.0% real estate. SCHD’s cited table does not list a real-estate line. That supports caution, not a blanket claim that every version of either methodology will always have identical real-estate treatment. Check the current index rules and fund holdings before using real-estate exposure as the deciding factor.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Should you own both SCHD and VYM?
Owning both can make sense when you want a deliberate blend
- You want SCHD’s smaller, dividend-quality-oriented portfolio alongside VYM’s much broader 605-stock exposure.
- You accept that shared companies and sectors will remain part of the combined portfolio.
- You prefer to diversify index methodology rather than seek completely different asset classes.
- You are willing to monitor the combined sector weights instead of assuming that two fund names automatically produce diversification.
One fund may be simpler when duplication is the concern
- You want a single dividend ETF and do not have a specific reason to combine two selection methods.
- You are trying to minimize overlapping positions or keep portfolio analysis straightforward.
- You need a particular sector profile, such as VYM’s higher financials, technology and utilities exposure or SCHD’s larger health-care and consumer-staples weights in the cited period.
Neither choice is universally superior. The decision depends on whether the additional breadth and methodology difference justify the overlap, fees and monitoring effort for your allocation.
Common mistakes when measuring SCHD–VYM overlap
- Comparing top tens as if they were complete portfolios. Top-ten lists can prove that overlap exists, but cannot prove how many stocks are shared.
- Mixing dates. The October 15 SCHD holdings snapshot and June 30 VYM fact sheet are not synchronized.
- Using different denominators. Name overlap should state whether the denominator is SCHD’s 102 holdings, VYM’s 605 stocks or another dated count.
- Confusing name overlap with weight overlap. A shared ticker count says nothing about how much capital each fund assigns to those names.
- Treating sector labels as identical. Provider classification systems can place a company in different categories, especially around technology, communications and real estate.
- Assuming a zero or missing line is universal. A sector omitted from one table may be reported differently elsewhere; verify the methodology and current holdings.
- Ignoring rounding. Rounded percentages can make sums differ slightly from 100% and can affect a marginal overlap calculation.
A practical decision sequence
- Write down your objective: maximum breadth, dividend-quality screening, lower cost, or a specific sector mix.
- Choose holdings files with the same effective date and record the date.
- Match complete ticker lists and calculate shared-name count.
- Calculate weight overlap using the lower weight for every shared ticker.
- Compare the resulting combined sector weights with your target allocation.
- Check the current expense ratios and index methodology before placing or changing an investment.
- Re-run the worksheet after major rebalances or when a provider publishes a new holdings file.
This process turns “Do SCHD and VYM overlap?” into a measurable portfolio question. It also separates facts established by the provider snapshots from conclusions that require a fresh, same-date holdings download.
Bottom line
SCHD and VYM definitely overlap: UNH and HD appear in both cited top-ten lists, and the funds share several sectors. SCHD is far more concentrated by holdings count, while VYM owns hundreds more stocks and has a different sector leadership profile. The cited materials do not establish a complete portfolio-overlap percentage. For that number, use full, same-date holdings files and report both shared ticker count and weight overlap rather than relying on top-ten lists.
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