VGSH vs SCHO: Holdings Overlap
VGSHVanguard Short-term Treasury Index Fund
Vanguard · 91 holdings · $30.2B · as of 2026-05-31
SCHOSchwab Short-Term U.S. Treasury ETF
Schwab · 96 holdings · $12.9B · as of 2026-03-31
Holdings snapshots are 61 days apart (VGSH: 2026-05-31, SCHO: 2026-03-31). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are VGSH and SCHO?
Vanguard Short-term Treasury Index Fund (VGSH, by Vanguard) holds 91 positions; Schwab Short-Term U.S. Treasury ETF (SCHO, by Schwab) holds 96. They have 83 holdings in common, and by portfolio weight the two funds are 87.8% identical. In practical terms the pair is essentially interchangeable, so holding both adds little diversification.
- Overlap by Weight
- 87.8%Sum of the smaller weight of each shared holding
- Shared Holdings
- 83VGSH holds 91 · SCHO holds 96
- Weight in Shared Holdings
- VGSH 90%·SCHO 91%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VGSH
8 of 91 positions (8.7% of the fund) are not held by SCHO.
- U.S. Treasury Notes1.40%
- U.S. Treasury Notes1.29%
- U.S. Treasury Notes1.17%
- U.S. Treasury Notes1.10%
- U.S. Treasury Notes1.10%
- U.S. Treasury Notes0.99%
Only in SCHO
13 of 96 positions (8.6% of the fund) are not held by VGSH.
- U.S. Treasury Notes1.38%
- U.S. Treasury Notes1.37%
- U.S. Treasury Notes1.17%
- U.S. Treasury Notes1.11%
- U.S. Treasury Notes1.00%
- U.S. Treasury Notes0.95%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VGSH | +0.4% | +1.0% | +2.9% | +4.3% | +1.9% | +1.8% | 3.82% |
| SCHO | +0.3% | +1.0% | +2.8% | +4.3% | +1.9% | +1.8% | 3.87% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VGSH vs SCHO →
Shared Holdings(83)
The top 10 shared positions account for 15% of the overlap, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes.
| U.S. Treasury Notes | 2.24% | 2.22% | 2.22% |
|---|---|---|---|
| U.S. Treasury Notes | 1.35% | 1.38% | 1.35% |
| U.S. Treasury Notes | 1.31% | 1.29% | 1.29% |
| U.S. Treasury Notes | 1.24% | 1.37% | 1.24% |
| U.S. Treasury Notes | 1.25% | 1.22% | 1.22% |
| U.S. Treasury Notes | 1.22% | 1.38% | 1.22% |
| U.S. Treasury Notes | 1.25% | 1.22% | 1.22% |
| U.S. Treasury Notes | 1.19% | 1.22% | 1.19% |
| U.S. Treasury Notes | 1.22% | 1.18% | 1.18% |
| U.S. Treasury Notes | 1.19% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.18% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.29% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.25% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.19% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.18% | 1.17% | 1.17% |
| U.S. Treasury Notes | 1.19% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.17% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.18% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.25% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.18% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.16% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.18% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.19% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.26% | 1.16% | 1.16% |
| U.S. Treasury Notes | 1.15% | 1.16% | 1.15% |
Frequently Asked Questions
How much do VGSH and SCHO overlap?
VGSH and SCHO overlap by 87.8% of portfolio weight. They share 83 holdings (VGSH holds 91 positions and SCHO holds 96), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VGSH and SCHO?
The two portfolios are 87.8% identical by weight. Owning both is largely redundant: they are close to the same portfolio, so a second position mostly duplicates the first.
What are the biggest shared holdings of VGSH and SCHO?
The largest positions held by both funds are U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. Together the top 10 shared positions account for 15% of the total overlap.
What does VGSH own that SCHO doesn't?
8 positions (8.7% of VGSH) are unique to VGSH, led by U.S. Treasury Notes, U.S. Treasury Notes and U.S. Treasury Notes. In the other direction, 13 positions (8.6% of SCHO) are unique to SCHO.