USMV vs SCHB overlap
USMV and SCHB overlap 32.4% by weight, across 163 shared holdings.
Pick 2 to 4 ETFs.
These funds report on different dates (USMV: July 31, 2026, SCHB: May 31, 2026), so market moves and index changes between those dates lower the number. Funds tracking the same index can read well below their true overlap.
Top shared holdings
| Holding | USMV | SCHB | Overlap |
|---|---|---|---|
| Microsoft Corp.MSFT | 1.62% | 4.57% | 1.62% |
| Nvidia Corp.NVDA | 1.32% | 7.02% | 1.32% |
| Berkshire HATH-BBRK/B | 1.47% | 1.19% | 1.19% |
| Broadcom Inc.AVGO | 1.02% | 2.90% | 1.02% |
| Apple Inc.AAPL | 0.90% | 6.26% | 0.90% |
| Exxon Mobil Corp.XOM | 1.39% | 0.83% | 0.83% |
| ELI Lilly & CoLLY | 0.78% | 1.20% | 0.78% |
| VISA Inc.-Class aV | 1.00% | 0.75% | 0.75% |
| Johnson&JohnsonJNJ | 1.54% | 0.74% | 0.74% |
| Walmart Inc.WMT | 0.71% | 0.69% | 0.69% |
| ADV Micro DeviceAMD | 0.69% | 1.15% | 0.69% |
| Cisco SystemsCSCO | 1.46% | 0.65% | 0.65% |
| Micron TechMU | 0.64% | 1.49% | 0.64% |
| Mastercard Inc.-aMA | 1.26% | 0.55% | 0.55% |
| Abbvie Inc.ABBV | 0.72% | 0.53% | 0.53% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: USMV, SEC Form N-PORT, July 31, 2026; SCHB, SEC Form N-PORT, May 31, 2026.
Largest institutions holding both
| Firm | USMV | SCHB |
|---|---|---|
| UBS Group AG | $300.9M | $1.4B |
| FMR LLC | $1.5B | $35.1M |
| Wealthfront Advisers LLC | $1.1M | $1.5B |
| Morgan Stanley | $1.4B | $100.2M |
| Raymond James Financial Inc. | $1.4B | $33.6M |
| Bank of America Corp. | $1.2B | $73.5M |
| LPL Financial LLC | $767.2M | $86.1M |
| Wealth Enhancement Advisory Services, LLC | $458.5M | $70.6M |
| Betterment LLC | $306K | $442.9M |
| PNC Financial Services Group, Inc. | $409.7M | $8.1M |
| Wells Fargo & Company | $327.6M | $69.2M |
| Envestnet Asset Management Inc. | $363.0M | $28.1M |
| BlackRock, Inc. | $333.5M | $12.9M |
| HighTower Advisors, LLC | $64.5M | $269.2M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $2.2M | $331.0M |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: USMV institutional holders, SCHB institutional holders.
Frequently asked questions
How much do USMV and SCHB overlap?
32.4% by weight, with 163 holdings in common, using holdings for USMV as of July 31, 2026 and SCHB as of May 31, 2026. The largest shared position is MSFT.
Do institutions hold both USMV and SCHB?
611 Form 13F filers report positions in both, out of 2,154 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.