Data as of Oct 28, 2026.
SCHG vs SPY: Differences, Returns & Fees
Over the year to Oct 28, 2026, SCHG returned +6.8% to SPY's +13.6%; 55% of their weight is in the same names.
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Net assets: $63.0bn on Aug 31, 2026 for Schwab U.S. Large-Cap Growth ETF, and $814.8bn on Oct 27, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SCHG costs 0.05 points a year less; their one-year returns differ by 6.8 points.
| Measure | SCHG | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.8% | +13.6% |
| Drawdown | ||
| Below its high | 3.5%, high on Oct 6, 2026 | |
| Benchmark | ||
| What it tracks | Dow Jones U.S. Large-Cap Growth Total Stock Market Index | S&P 500 Index |
| Cost and size | ||
| Expense ratio | 0.04% | 0.09% |
| Net assets, SCHG as of Aug 31, 2026 and SPY as of Oct 27, 2026 | $63.0bn | $814.8bn |
| Holdings | ||
| Holdings in common | 55% | |
| Top ten holdings, share of the fund | 51.0% | 38.1% |
Holdings in common uses holdings dated Aug 31, 2026 and Oct 27, 2026. Method
Risk and return
Dec 18, 2009 to Oct 23, 2026 · 879 weekly returnsEach against its own benchmark: SCHG against IVV, Dec 18, 2009 to Oct 23, 2026; SPY against VOO, Sep 17, 2010 to Oct 23, 2026.
SCHG returned more: +1,156.7% to +827.0%. SPY swung less: 16.1% to 18.5%. SPY fell slightly less at its worst: −31.8% to −34.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | SCHG | SPY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +1,156.7% | +827.0% | SCHG | Price change plus distributions, reinvested. |
| Annualized | +16.2% | +14.1% | SCHG | Total return as a yearly rate. |
| Price return | +988.8% | +589.6% | SCHG | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 18.5% | 16.1% | SPY | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 12.5% | 11.1% | SPY | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −34.2% | −31.8% | SPY (slight) | Deepest fall from a high to the low after it. |
| Upside capture | 121.1% | 99.8% | Share of its benchmark's rise caught in the weeks it rose. | |
| Downside capture | 108.1% | 100.0% | Share of its benchmark's fall taken in the weeks it fell. Lower is better. | |
| Beta | 1.10 | 1.00 | Not an edge | How far it moves for each 1% its benchmark moves. |
| R squared | 0.92 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | ||||
| Sharpe | 0.82 | 0.81 | Tie | Return above Treasury bills per unit of volatility. |
| Sortino | 1.22 | 1.17 | SCHG (slight) | Return above Treasury bills per unit of downside deviation. |
| Treynor | 0.138 | 0.133 | Return above Treasury bills per unit of beta. | |
| Calmar | 0.47 | 0.44 | SCHG (slight) | Annualized return divided by the max drawdown. |
| Against the benchmark | ||||
| Benchmark | IVV | VOO | The ETF each fund is measured against. | |
| Alpha | +0.8% a year | −0.1% a year | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.65 | −0.51 | Not an edge | How sure the alpha is. Below 2, it could be chance. |
| Alpha range | −1.7% to +3.4% | −0.3% to +0.1% | Includes zero | The 95% range for the yearly alpha. |
| Information ratio | 0.40 | −0.15 | Return against its benchmark per unit of tracking error. | |
| Tracking error | 5.5% | 0.4% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 879 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, SCHG and SPY hold 55% of their money in the same securities at the same weight. Holdings dated Aug 31, 2026 and Oct 27, 2026.
half
55% in common
Only in one fund ↓
Side by side
SCHG and SPY on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
SCHG and SPY do different jobs. What does each one do in a portfolio?
- What each follows. SCHG follows Dow Jones U.S. Large-Cap Growth Total Stock Market Index and SPY follows S&P 500 Index.
- One-year total return. Over 1 year to Oct 28, 2026 SCHG returned +6.8% and SPY +13.6% with distributions reinvested, a gap of 6.8 points.
- Holdings in common (similar). 55% of the weight is in the same securities (holdings dated Aug 31, 2026 and Oct 27, 2026).
Data as of Oct 28, 2026.
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SCHG
SCHG tracks an index of U.S. Large-Cap Growth. Over the year to Oct 28, 2026 it returned +6.8% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.04% a year. By its holdings filed for Aug 31, 2026, 95% of the fund by weight is stocks the S&P 500 also holds, across 192 positions, with the top ten at 51.0%. It sat 3.5% below its high of Oct 6, 2026 on Oct 28, 2026.
SPY
SPY tracks the S&P 500. Over the year to Oct 28, 2026 it returned +13.6% with distributions reinvested, against +13.7% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Oct 27, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 38.1%.
Questions people ask
- Which returned more over the last year, SCHG or SPY?
- In the year to Oct 28, 2026, with distributions reinvested, SCHG returned +6.8% and SPY +13.6%.
- Which is cheaper, SCHG or SPY?
- SCHG is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, SCHG against SPY, data as of Oct 28, 2026. https://etfiq.com/compare/any/schg-vs-spy
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