SCHX(SCHX)
AI Look-Through Summary
AI GeneratedWith assets under management totaling $61.4 billion, SCHX maintains a substantial scale that supports liquidity and tracking efficiency within the broader equity landscape. The fund's sector allocation reveals a pronounced tilt toward technology, which accounts for nearly 30% of its total portfolio weight. This heavy concentration is driven by significant exposure to mega-cap growth names, with NVIDIA, Apple, Microsoft, Amazon, Alphabet, Broadcom, Meta, and Tesla collectively forming a dominant core within the top ten holdings. The presence of these specific equities suggests that the fund's performance will be highly sensitive to macroeconomic factors influencing large-cap tech valuations rather than being evenly distributed across all market segments.
Geographically, while explicit country weights are not provided in the dataset, the composition of the top holdings indicates a heavy reliance on companies domiciled primarily in the United States, given that nearly every major holding operates as a U.S.-based entity with global revenue streams. The remaining sectors—including communication services at 10.1%, financial services at 9.5%, consumer cyclical at 9.1%, and healthcare at 8.8%—provide diversification but do not offset the overwhelming influence of the technology sector on overall portfolio volatility. Notably, Berkshire Hathaway Class B shares appear in the top ten list with a 1.5% weight, adding an element of value-oriented exposure to a fund otherwise characterized by high-growth megacaps. The combination of these metrics paints a picture of a large-cap growth strategy that is heavily weighted toward established American technology leaders rather than offering broad-based international or small-to-mid cap representation based on the visible data points.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-21 22:40:10.063182+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 45/100The investment theme implied by the name SCHX suggests a broad, diversified exposure to large-cap U.S. equities rather than a specific sectoral or thematic strategy. While the fund's top holdings are heavily weighted toward technology and communication services giants like NVIDIA, Apple, Microsoft, Amazon, Google, Meta, and Broadcom, which align with general market leadership trends, this concentration creates an appearance of narrow focus despite the underlying mandate for diversification. The presence of BRKB in the top ten is particularly notable given its unique business model; however, since it lacks a standard sector classification within the provided data, its impact on thematic purity remains ambiguous compared to the clear dominance of mega-cap tech firms that drive the portfolio's performance more than any other group.
Sector coherence reflects this heavy reliance on specific industries rather than true broad-market representation. Technology accounts for nearly 30% of assets and communication services adds another 10%, creating a combined exposure of almost 40% to just two sectors, which significantly deviates from the distribution expected in a truly diversified large-cap index where financials or industrials would typically hold comparable weight alongside tech. Although other sectors like healthcare, consumer cyclical, and energy are represented with respectable weights ranging from roughly 3% to 9%, the sheer number of holdings in technology (61) versus others indicates that performance will be disproportionately influenced by the fortunes of a few major players rather than the collective movement of the entire large-cap universe. This structural tilt suggests the fund behaves more like an augmented index tracking dominant market leaders than a strictly diversified vehicle, potentially exposing investors to higher volatility associated with specific sector cycles while offering limited true diversification benefits relative to its stated broad mandate.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-21 19:27:44.570757+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors from the top holdings of SCHX highlight a convergence of macro-level pressures centered on regulatory expansion across environmental, social, and governance domains. A predominant systemic theme emerging is the increasing burden of compliance with climate change regulations, which could materially impact financial conditions for major technology leaders like NVIDIA. Simultaneously, there is a significant cluster of risks related to cybersecurity and data privacy requirements, suggesting that operational costs may rise as companies navigate stricter adherence standards. Furthermore, the explicit mention of AI regulation indicates that emerging technological frontiers are becoming subject to evolving legal frameworks that could alter competitive positions and increase expenditure for industry giants.
The concentration of these shared risk categories within the fund's largest exposures signals a potential for correlated downside if regulatory bodies intensify scrutiny or enforcement actions in these areas. With NVIDIA, Apple, Microsoft, Amazon, Google, Meta, Broadcom, and Tesla all representing substantial portions of the portfolio, any adverse shift in climate policy, data privacy laws, or AI governance could simultaneously affect multiple high-weight positions rather than remaining isolated incidents. This overlap suggests that the fund's performance may be increasingly sensitive to macro-regulatory trajectories in technology and sustainability sectors, as a single legislative change could trigger material impacts across several top holdings at once.
While systemic risks dominate the current disclosure landscape, company-specific factors remain relevant due to weighting disparities. For instance, NVIDIA carries unique exposure regarding AI regulation that is not uniformly distributed among all constituents, potentially making its specific financial trajectory more volatile relative to peers like Johnson & Johnson or Exxon Mobil, which face different regulatory profiles. Additionally, while cybersecurity and climate risks are widespread, the magnitude of their impact will vary based on individual company operations; for example, technology firms likely bear a heavier operational cost burden from data privacy mandates compared to diversified conglomerates or energy companies with distinct risk exposures.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-24 13:09:24.756134+00
🏢 Sector Analysis
AI GeneratedThe sector allocation of SCHX reveals a distinct tilt toward growth-oriented industries, with Technology and Communication Services collectively accounting for nearly 40% of the portfolio. This heavy weighting in sectors driven by innovation suggests an investment thesis centered on long-term capital appreciation rather than pure income generation or defensive stability. The dominance of these high-growth areas is further amplified by the top five holdings, which are almost entirely concentrated within Technology and Communication Services, indicating that the fund's performance will be highly sensitive to macroeconomic factors influencing digital transformation and consumer spending habits in these specific domains.
Despite its broad name implying a large-cap focus, the data highlights significant concentration risk stemming from both sectoral and individual stock exposure. The top ten holdings alone comprise 34.4% of assets under management, with four of those positions falling within just two sectors. While Financial Services, Consumer Cyclical, Healthcare, and Industrials provide some diversification at roughly 9% each, their impact is muted relative to the massive technology weightings. This structure implies that adverse movements in semiconductor or software markets could disproportionately affect the fund's overall volatility, potentially creating a risk profile more akin to an aggressive growth portfolio than a traditional broad-market index.
The underrepresentation of defensive sectors such as Utilities and Real Estate further underscores this bias toward cyclical returns over stability during economic downturns. With these protective layers comprising less than 5% each, the fund lacks significant ballast against inflationary pressures or recessions that typically favor value-oriented industries like Energy or Basic Materials, which are also notably small in allocation. Ultimately, the composition reflects a strategic choice to prioritize exposure to leading innovators and established giants in high-growth fields, accepting higher idiosyncratic risk in exchange for potential outperformance during bull markets driven by technological advancement.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 15:41:25.904403+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share SCHX's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of SCHX's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| SCHBSchwab U.S. Broad Market ETF | $37B | — | 749 | 99.9% |
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 746 | 99.8% |
| ACWIiShares MSCI ACWI ETF | $28B | — | 535 | 96.2% |
| URTHiShares MSCI World ETF | $7B | — | 535 | 96.2% |
| IVViShares Core S&P 500 ETF | $762B | 0.03% | 499 | 94.2% |
100% of SCHX's portfolio by weight is also held by SCHB. When SCHB receives inflows, it mechanically buys these shared stocks — dragging SCHX's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofSCHX's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Replaces $249/yr MorningstarPeer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 90% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 80% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation. Data that Vanguard and BlackRock don't surface.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside SCHX collectively pay out 37% of their Free Cash Flow to maintain the current yield. This leaves a substantial cash buffer, making dividend cuts unlikely even in a downturn. Based on 63% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietarySCHX is up 28.3% over the last 12 months. The underlying weighted earnings growth of its constituents is +34.5%. Despite earnings growth, valuations have contracted by 6.3% — the market is paying less per dollar of earnings than a year ago.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 78% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of SCHX's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of SCHX's analyzed weight, 79% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 21% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 73% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
SCHX has a Passive Crowding Score of 36/100. On average, 10.8% of the market capitalization of SCHX's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 52 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | NVDA | NVIDIA Corp Technology | 6.91% | 32.4x | 4/9 |
| 2 | AAPL | Apple Inc Technology | 6.27% | 37.7x | 8/9 |
| 3 | MSFT | Microsoft Corp Technology | 4.69% | 26.8x | 5/9 |
| 4 | AMZN | Amazon.com Inc Consumer Cyclical | 3.28% | 31.7x | 6/9 |
| 5 | GOOGL | Alphabet Inc Communication Services | 2.91% | 29.0x | 6/9 |
| 6 | AVGO | Broadcom Inc Technology | 2.42% | 86.9x | 8/9 |
| 7 | GOOG | Alphabet Inc Communication Services | 2.32% | 28.7x | 6/9 |
| 8 | META | Meta Platforms Inc Communication Services | 2.27% | 23.0x | 5/9 |
| 9 | TSLA | Tesla Inc Consumer Cyclical | 1.82% | 399.8x | 5/9 |
| 10 | BRKB | Berkshire Hathaway Inc | 1.49% | — | — |
| 11 | LLY | Eli Lilly & Co Healthcare | 1.34% | 39.2x | 7/9 |
| 12 | JPM | JPMorgan Chase & Co Financial Services | 1.31% | 14.3x | 3/9 |
| 13 | XOM | Exxon Mobil Corp Energy | 1.03% | 24.5x | 5/9 |
| 14 | JNJ | Johnson & Johnson Healthcare | 0.96% | 26.1x | 4/9 |
| 15 | WMT | Walmart Inc Consumer Defensive | 0.90% | 40.8x | 7/9 |
Historical Holdings Snapshots
Browse how SCHX’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
2026-05-23
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
2026-05-22
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
2026-05-21
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
2026-05-20
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
2026-05-19
15 holdings · 39.9% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.91% | 25,026,427 | $4.4B |
| 2 | AAPL | 6.27% | 15,217,490 | $4.0B |
| 3 | MSFT | 4.69% | 7,653,245 | $3.0B |
| 4 | AMZN | 3.28% | 10,022,537 | $2.1B |
| 5 | GOOGL | 2.91% | 5,990,629 | $1.9B |
| 6 | AVGO | 2.42% | 4,866,103 | $1.6B |
| 7 | GOOG | 2.32% | 4,787,444 | $1.5B |
| 8 | META | 2.27% | 2,244,126 | $1.5B |
| 9 | TSLA | 1.82% | 2,895,332 | $1.2B |
| 10 | BRKB | 1.49% | 1,889,424 | $954.1M |
| 11 | LLY | 1.34% | 818,244 | $860.8M |
| 12 | JPM | 1.31% | 2,804,983 | $842.3M |
| 13 | XOM | 1.03% | 4,345,295 | $662.7M |
| 14 | JNJ | 0.96% | 2,482,570 | $616.7M |
| 15 | WMT | 0.90% | 4,517,277 | $578.0M |
Source: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove SCHX Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How SCHX’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
AUM & Capital Flow Tracker
Estimated assets under management derived from SEC filings and daily price movements — tracks how the fund's value evolves over time.
Estimated AUM derived from the latest SEC N-PORT filing TNA ($64.15B) scaled by daily price changes. Filing snapshots update when new regulatory filings are published (quarterly for most funds, daily for ARK).
Explore More
Quant metrics computed deterministically from financial statements and price data. Updated: 2026-06-02.
SecuritiesDB is for informational purposes only. Not investment advice.