VOO vs SCHB ETF Comparison 2026: Vanguard S&P 500 vs Schwab Total Market: AI Score, Valuation, Performance and Upside
VOO and SCHB are near-identical for most investors — both 0.03% expense ratio, both dominated by the same mega-cap technology stocks, and both with high correlations to S&P 500 performance. The primary difference is breadth: VOO holds 500 large-cap companies; SCHB holds ~2,500 including mid and small-cap. For practical purposes, the two ETFs will behave almost identically over most time periods. The choice is a matter of brokerage preference more than investment philosophy.
VOO vs SCHB — Vanguard S&P 500 ETF (the world's most widely held S&P 500 index fund tracking 500 large-cap US stocks with the recognized benchmark at 0.03% expense ratio) versus Schwab US Broad Market ETF (the total US market ETF covering 2,500 large, mid, and small-cap US companies at identical 0.03% cost).
VOO holds the edge across 4 of 5 key metrics in this comparison. VOO has delivered stronger 1-year price return (+16.61% vs +16.06% for SCHB).
- want pure S&P 500 index exposure — the recognized US equity benchmark most commonly used for portfolio performance comparison and financial planning projections
- hold at Vanguard or prefer Vanguard's $1T+ ETF ecosystem with maximum institutional liquidity for the core US equity holding
- prefer simplicity: the S&P 500 is the most understood, most discussed US equity index — financial media, advisors, and benchmarks all reference it constantly
- are comfortable with large-cap concentration excluding mid and small-cap companies — acceptable for most investors given S&P 500 companies represent 80% of US market cap
- prefer total US market coverage from a single ETF — holding VOO equivalents plus 2,000+ mid and small-cap companies provides theoretically complete diversification
- hold accounts at Schwab where SCHB is commission-free and optimally integrated with Schwab's portfolio tools and automatic investing features
- believe in small-cap factor potential — SCHB's small and mid-cap exposure positions the portfolio to benefit if/when small-cap valuation premiums appear vs large-cap
- are comfortable with the near-identical performance to VOO in most market environments — the total market exposure difference is meaningful in theory but small in practice for most time horizons
| Metric | VOO | SCHB |
|---|---|---|
| ETF scorei | 80.0 | 78.0 |
| Latest closei | $701.78 | $29.41 |
| 1M returni | -0.73% | -1.08% |
| 6M returni | +18.08% | +18.04% |
| 1Y returni | +16.61% | +16.06% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | VOO | SCHB |
|---|---|---|
| 1Y ago | $11.8K (+18.0%) started 2025-09-18 | $11.74K (+17.4%) started 2025-09-18 |
| 5Y ago | $20.24K (+102.4%) started 2021-09-20 | $19.26K (+92.6%) started 2021-09-20 |
| 10Y ago | $50.02K (+400.2%) started 2016-09-19 | $47.65K (+376.5%) started 2016-09-19 |
Hypothetical — past performance does not guarantee future results.
| Metric | VOO | SCHB |
|---|---|---|
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $1.76T | $44.61B |
| Dividend yieldi | 1.04% | 1.02% |
| Trailing P/Ei | 24.68 | 24.47 |
| Betai | 1.02 | 1.03 |
| 52-week change | 16.61% | 16.06% |
| Metric | VOO | SCHB |
|---|---|---|
| 1Y returni | +16.61% | +16.06% |
| 6M returni | +18.08% | +18.04% |
| 1M returni | -0.73% | -1.08% |
| 1Y Sharpe ratio | 0.92 | 0.86 |
| Betai | 1.02 | 1.03 |
| Dividend yieldi | 1.04% | 1.02% |
| 5Y CAGR | +13.49% | +12.42% |
Over the past year, VOO and SCHB have moved strongly in the same direction (correlation of 1.00), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | VOO | SCHB |
|---|---|---|---|
| 1Y | Growthi | +16.61% | +16.06% |
| CAGRi | +16.62% | +16.07% | |
| Volatilityi | 12.81% | 13.11% | |
| Sharpe ratioi | 0.92 | 0.86 | |
| Sortino ratioi | 1.32 | 1.24 | |
| Max drawdowni | 8.90% | 8.91% | |
| Current drawdowni | 1.84% | 2.26% | |
| Avg drawdowni | 1.44% | 1.45% | |
| Ulcer Indexi | 2.14% | 2.16% | |
| Max daily dropi | 2.69% | 2.70% | |
| Max wkly dropi | 3.79% | 3.71% | |
| 5Y | Growthi | +88.13% | +79.43% |
| CAGRi | +13.49% | +12.42% | |
| Volatilityi | 16.94% | 17.37% | |
| Sharpe ratioi | 0.57 | 0.50 | |
| Sortino ratioi | 0.81 | 0.72 | |
| Max drawdowni | 24.52% | 25.41% | |
| Current drawdowni | 1.84% | 2.26% | |
| Avg drawdowni | 5.57% | 6.19% | |
| Ulcer Indexi | 8.45% | 9.19% | |
| Max daily dropi | 5.80% | 5.90% | |
| Max wkly dropi | 11.45% | 11.62% | |
| 10Y | Growthi | +320.62% | +300.42% |
| CAGRi | +15.46% | +14.89% | |
| Volatilityi | 18.01% | 18.32% | |
| Sharpe ratioi | 0.64 | 0.61 | |
| Sortino ratioi | 0.90 | 0.84 | |
| Max drawdowni | 33.99% | 35.27% | |
| Current drawdowni | 1.84% | 2.26% | |
| Avg drawdowni | 4.31% | 4.67% | |
| Ulcer Indexi | 7.17% | 7.70% | |
| Max daily dropi | 11.74% | 11.99% | |
| Max wkly dropi | 18.11% | 18.80% |
| Category | VOO | SCHB |
|---|---|---|
| Fund name | Vanguard S&P 500 ETF | Schwab U.S. Broad Market ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.03% | 0.03% |
| Total assets (AUM)i | $1.76T | $44.61B |
| Dividend yieldi | 1.04% | 1.02% |
- S&P 500 benchmark standard: VOO tracks the most widely recognized US equity benchmark — portfolio performance vs S&P 500 is the universal comparison metric for US equity investors
- 0.03% expense ratio: among the world's lowest expense ratios — competitive with IVV (iShares) and SPY (SPDR) while offering lower cost than most active funds
- Massive liquidity and institutional ownership: $1T+ AUM makes VOO one of the most liquid ETFs globally — minimal bid-ask spreads, no impact cost for large trades
- Total US market in one ETF: SCHB's 2,500 stocks capture large, mid, and small-cap US equities — eliminating the need for separate large-cap and small-cap ETFs
- Identical 0.03% expense ratio to VOO: SCHB provides broader coverage at the same price — marginally more comprehensive than VOO at equal cost
- Small and mid-cap diversification: SCHB's inclusion of 2,000+ smaller companies beyond the S&P 500 provides exposure to growth companies before they reach S&P 500 inclusion
- Excludes small-cap and mid-cap: VOO's 500-stock large-cap focus misses the 3,500+ smaller US companies — investors seeking total market exposure need SCHB or VTI alongside or instead of VOO
- Technology concentration: Apple, Microsoft, Nvidia, Amazon, and Meta alone represent 25%+ of VOO — more concentrated in technology mega-caps than a total market index
- Index Committee discretion: S&P 500 membership requires profitability screening by a committee — some newer profitable companies may be included or excluded based on qualitative criteria
- S&P 500 dominance in total market returns: approximately 80% of SCHB's return comes from the same large-cap companies as VOO — the practical performance difference is minimal despite the broader index
- Less liquid than VOO: SCHB has lower AUM and daily trading volume than VOO — wider bid-ask spreads for large institutional trades, though negligible for individual investors
- Smaller company return drag in certain periods: small and mid-cap components can underperform large-cap during technology bull markets (as in 2023-2024), slightly dragging SCHB vs VOO
Want deeper AI forecasts?
This comparison page is public and free forever. Subscribers can unlock saved watchlists, full AI rankings, detailed forecasts, and interactive analysis tools.