Wealthy PotSCHG vs SPYM: A Growth Slice vs the Whole S&P 500, Both for Pennies
SCHG and SPYM overlap by 53.1%, by our calculation from the two funds' SEC holdings filings. Nearly all of SCHG (95.3% of its weight) is in companies SPYM also owns, but SCHG holds them at much larger weights: its ten largest positions are 60% of the fund, against 38% for SPYM. Both are among the cheapest ETFs you can buy, at 0.04% and 0.02%. The choice is whether you want the whole S&P 500 or a concentrated growth slice of the large-cap market. SPYM is the fund that traded as SPLG until October 2025.
Table of Contents
The Short Answer
- Overlap: 53.1%. 120 companies in common. Our calculation from Form N-PORT filings for 31 May 2026 (SCHG) and 30 June 2026 (SPYM).
- Fees: SCHG 0.04%, SPYM 0.02%. $4 against $2 a year on $10,000. The prospectus ten-year cost examples are $51 and $26. The fee is not what separates these funds.
- Concentration is. NVIDIA, Apple, Alphabet and Microsoft were 36.5% of SCHG and 24.2% of SPYM in the filings above.
- Returns to 30 June 2026 at NAV: SPYM led over one year (22.28% vs 16.40%). SCHG led over three years (22.33% vs 20.58%), five years (13.69% vs 13.37%) and ten years (18.66% vs 15.50%).
- 2022: SCHG returned -31.81%, SPYM -18.13%.
- SPYM is SPLG. The ticker changed on 31 October 2025; nothing else did.
- Holding both works as an S&P 500 core with a growth tilt on top. It is not two separate bets.
How Much SCHG and SPYM Overlap
We matched the two funds' holdings reports using the same data as our Portfolio Overlap Checker. The filings are one month apart (31 May and 30 June 2026), so small weight differences partly reflect a month of price moves.
| Overlap measure | Result |
|---|---|
| Companies held by both funds | 120 |
| Share of SCHG's weight in companies SPYM also owns | 95.3% |
| Share of SPYM's weight in companies SCHG also owns | 53.1% |
| Overlap (sum of the smaller weight in each shared company) | 53.1% |
| Largest shared holdings | Weight in SCHG | Weight in SPYM |
|---|---|---|
| NVIDIA | 11.01% | 7.51% |
| Apple | 9.83% | 6.58% |
| Alphabet (both classes) | 8.53% | 5.83% |
| Microsoft | 7.17% | 4.29% |
| Amazon | 5.67% | 3.62% |
| Broadcom | 4.55% | 2.77% |
| Tesla | 3.91% | 1.83% |
| Meta | 3.45% | 1.92% |
| Eli Lilly | 3.05% | 1.47% |
| AMD | 2.93% | 1.47% |
- In SCHG but not SPYM (72 companies, 4.6% of SCHG): mid-sized growth companies outside the S&P 500, such as Snowflake 0.31%, Cloudflare 0.27% and Rocket Lab 0.24%. SCHG's index draws from the 750 largest U.S. stocks, not just the 500 in the S&P.
- In SPYM but not SCHG (380 companies, 46.8% of SPYM): Micron 2.02%, Berkshire Hathaway 1.42%, JPMorgan 1.36%, Intel 1.02%, Johnson & Johnson 0.95%, Applied Materials 0.89%, Exxon Mobil 0.88%, Lam Research 0.84%, Walmart 0.77% and Caterpillar 0.76%.
SCHG is not simply "tech." It holds Eli Lilly and leaves out Micron, Intel and Applied Materials, because its index sorts stocks by growth characteristics rather than by sector. The half of SPYM that SCHG skips is mostly banks, energy, consumer staples, industrials and other value-style companies.
SCHG vs SPYM Side by Side
| SCHG | SPYM | |
|---|---|---|
| Full name | Schwab U.S. Large-Cap Growth ETF | State Street SPDR Portfolio S&P 500 ETF |
| Index | Dow Jones U.S. Large-Cap Growth Total Stock Market Index | S&P 500 |
| Expense ratio | 0.04% | 0.02% |
| Prospectus cost of $10,000 over 10 years | $51 | $26 |
| Holdings | 189 (2 Oct 2026) | 506 (1 Oct 2026) |
| Top 10 weight | 60.1% (31 May 2026) | 37.9% (30 Jun 2026) |
| Net assets | $64.7 billion (2 Oct 2026) | $177.3 billion (2 Oct 2026) |
| 30-day SEC yield | 0.36% (1 Oct 2026) | not compared |
| Inception | 11 December 2009 | 8 November 2005 |
Schwab's prospectus describes SCHG's index as "the components ranked 1-750 by full market capitalization and that are classified as 'growth' based on a number of factors," weighted by capped market capitalization. On 31 August 2025 it held 230 stocks. A quarterly capping process keeps the weights within the diversification rules that apply to the fund, which is why SCHG's largest names are big but not unlimited.
SPLG Is Now SPYM
If you searched for SCHG vs SPLG, this is the same comparison. State Street's supplement dated 21 October 2025 changed the ticker from SPLG to SPYM, effective 31 October 2025. The fund's annual report says the change "did not result in any changes to the Fund's Investment Objective, Principal Investment Strategies or Principal Risks." More detail is in SPY vs SPYM.
Note that SPYM tracked the Russell 1000 until 15 November 2017 and an SSGA large-cap index until 23 January 2020. Its ten-year return therefore blends three indexes; its one-, three- and five-year returns to mid-2026 are pure S&P 500 periods.
Returns to 30 June 2026
Both issuers publish standardized quarter-end returns to 30 June 2026, so this table is date-matched.
| Average annual return at NAV, to 30 June 2026 | 1 year | 3 years | 5 years | 10 years |
|---|---|---|---|---|
| SCHG | 16.40% | 22.33% | 13.69% | 18.66% |
| SPYM | 22.28% | 20.58% | 13.37% | 15.50%* |
| SCHG minus SPYM | -5.88 | +1.75 | +0.32 | +3.16 |
The month-end figures to 31 August 2026 tell the same story: SCHG 17.33%, 23.45%, 13.26% and 18.66% over one, three, five and ten years; SPYM 20.34%, 21.00%, 12.76% and 15.36%.
| Calendar-year return at NAV | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| SCHG | 28.06% | -31.81% | 50.12% | 34.92% |
| SPYM | 28.67% | -18.13% | 26.26% | 24.97% |
Over those four years $10,000 grew to about $17,687 in SCHG and $16,622 in SPYM, but SCHG lost almost a third of its value in 2022 to get there. Over ten years to 30 June 2026, $10,000 compounding at SCHG's 18.66% a year grows to about $55,341, against about $42,249 at SPYM's 15.50%. That decade was unusually good for large growth stocks, which is exactly what SCHG concentrates in.
Dollar figures are hypothetical arithmetic by Wealthy Pot on a single $10,000 lump sum at published NAV returns, with no contributions, costs or taxes. They are backward-looking, not a forecast. This is educational information, not personalized investment advice.
Which One Fits You
SPYM fits as a one-fund U.S. core. It owns every S&P 500 sector at the S&P's own weights for 0.02%, and lost far less in 2022. If you are building a simple portfolio, start here or with a total-market fund (SPYM vs VTI).
SCHG fits as a growth tilt. If you are comfortable with a fund where four companies are over a third of the money, and with drawdowns like 2022, SCHG gives you more of what has driven the market recently for 0.04%. Its three-year standard deviation was 16.71% on 31 August 2026, per Schwab.
Holding both adds roughly 70 mid-sized growth names and a lot of extra weight in the giants. Run your actual mix through the overlap checker to see the combined top-ten weight before deciding.
Account type barely matters here. Both are ETFs, so neither has a fund minimum beyond the price of one share, or a fractional share if your broker offers them. In a taxable account, both are low-yield index ETFs (SCHG's SEC yield was 0.36%), so the difference in taxable income is small.
Weighing SCHG against the Nasdaq-100 instead? See QQQM vs SCHG and QQQM vs SPYM.
Sources & Methodology
- SCHG summary prospectus (Form 497K) dated 27 February 2026: 0.04% fee, cost example, index description and calendar-year returns.
- Schwab SCHG page, read 5 October 2026: holdings, net assets, SEC yield, standard deviation and returns to 30 June and 31 August 2026.
- SPYM summary prospectus (revised 3 February 2026): 0.02% fee, cost example, benchmark history and calendar-year returns.
- SPDR Series Trust supplement dated 21 October 2025: the SPLG to SPYM ticker change.
- State Street SPYM page, read 5 October 2026: net assets, holdings and returns to 30 June and 31 August 2026.
- Form N-PORT filings for SCHG (31 May 2026) and SPYM (30 June 2026): the overlap and top-10 weights.
Limits. The overlap uses filings a month apart. We did not compare sector tables, and we did not establish why particular companies (Micron, for example) sit outside SCHG's growth index; the page says only that they are absent from its filing.
This article is for general education and is not investment, tax or legal advice. Fund data changes daily, index returns cannot be invested in directly, and past performance does not guarantee future results. All investing carries the risk of loss. Figures were checked against the sources above on 5 October 2026.
FAQ: SCHG vs SPYM
Is SCHG or SPYM better?
To 30 June 2026, SCHG returned more over three, five and ten years and SPYM more over one year. SPYM is cheaper (0.02% vs 0.04%), broader and fell less in 2022. Which is better depends on whether you want a growth tilt.
How much do SCHG and SPYM overlap?
53.1% by the sum of the smaller weight in each shared company, with 120 companies in common. 95.3% of SCHG's weight is in companies SPYM holds. Our calculation from N-PORT filings for 31 May 2026 (SCHG) and 30 June 2026 (SPYM).
Is SPYM the same as SPLG?
Yes. SPLG became SPYM on 31 October 2025. The fund, index and 0.02% fee stayed the same.
Should I hold both SCHG and SPYM?
You can, as a core plus a growth tilt. Most of SCHG is extra weight in companies SPYM already owns, so the combination raises your concentration in the largest growth stocks.
Which is riskier?
SCHG. Its ten largest holdings were about 60% of the fund, and it lost 31.81% in 2022 against 18.13% for SPYM.
Does SCHG own stocks outside the S&P 500?
A few. About 4.6% of SCHG was in 72 companies not in SPYM's filing, mostly mid-sized growth names such as Snowflake and Cloudflare.
Cite This Page
Journalists, educators and bloggers are welcome to cite this comparison. Please link back so readers can reach the underlying filings.
"SCHG vs SPYM: A Growth Slice vs the Whole S&P 500, Both for Pennies." Wealthy Pot, 2026. https://wealthypot.com/schg-vs-spym/
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