Total Stock Market ETFs: SCHB and VTI Offer Nearly Identical Market Exposure

Vanguard Total Stock Market ETF(VTI 1.72%)and Schwab U.S. Broad Market ETF (SCHB 1.73%)both offer ultra-low-cost, diversified exposure to the full U.S. equity market, with similar sector allocations, performance, and risk profiles, but differ in fund size and number of holdings.

Both VTI and SCHB aim to capture the entire U.S. equity market, combining large-, mid-, and small-cap stocks into a single vehicle. This comparison examines two of the most popular broad-market exchange-traded funds (ETFs), focusing on their expenses, performance, portfolio composition, and trading characteristics to help investors weigh which may better fit a diversified portfolio.

Snapshot (cost & size)

Beta measures price volatility relative to the S&P 500; beta is calculated from five-year monthly returns. The 1-yr return represents total return over the trailing 12 months.

Both funds are equally affordable, carrying a 0.03% expense ratio, though VTI offers a slightly higher dividend yield. SCHB’s payout is nearly identical, making cost and yield differences negligible for most investors.

Performance & risk comparison

VTI and SCHB have delivered almost indistinguishable risk and return profiles over the past five years. Both experienced similar peak-to-trough declines, and a $1,000 investment in 2019 would have been nearly the same value in either fund by March 2026.

What’s inside

SCHB tracks the Dow Jones U.S. Broad Stock Market Index, offering exposure to 2,401 companies as of its 16.4-year mark. Its sector allocation is led by technology (32%), followed by financial services (11%) and healthcare (10%). Top holdings closely mirror the mega-cap tech leaders, with Nvidia Corp (NVDA 4.14%)at 6.72%, Apple Inc(AAPL +0.17%) at 5.83%, and Microsoft Corp (MSFT 1.40%)at 4.37%. The fund does not incorporate any unique strategies or quirks.

VTI follows the CRSP US Total Market Index and holds a broader set of 3,598 stocks, with a similar tilt toward technology (32%), financial services (13%), and consumer cyclicals (10%). Its top three holdings—NVIDIA Corp, Apple Inc, and Microsoft Corp—are nearly identical in weight to SCHB’s. Both portfolios are widely diversified, but VTI offers more small-cap exposure due to its larger number of holdings.

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What this means for investors

Vanguard Total Stock Market ETF (VTI) and Schwab U.S. Broad Market ETF (SCHB) are both smart choices for investors seeking balanced total-market exposure in their portfolios. Here’s how they compare head-to-head.

VTI is one of the largest ETFs by AUM. With over $565 billion in AUM, it ranks 4th among all active ETFs in AUM, easily besting SCHB’s $37 billion in AUM. VTI also tops SCHB on the number of holdings (3,598 vs. 2,401). VTI has a slightly higher dividend yield of 1.2% vs. SCHB’s 1.1%. Last, VTI has ever so slightly outperformed SCHB over the last year (13.8% vs. 13.7%).

As for SCHB, it has a slightly better five-year performance profile, having grown $1,000 to $1,595, while VTI has grown the same amount to $1,591.

All in all, these ETFs are very similar, both boasting rock-bottom expense ratios of 0.03%. In the end, the choice between these two ETFs will likely come down to a personal preference for most investors.