Schwab U.S. Broad Market ETF(SCHB)
AI Look-Through Summary
AI GeneratedThe Schwab U.S. Broad Market ETF maintains a substantial asset base of approximately $36.9 billion, reflecting significant capital inflows into this broad equity vehicle. Despite its "broad market" designation, the portfolio exhibits notable concentration within specific sectors and individual names, deviating from a perfectly uniform distribution across all domestic equities. Technology dominates the sector allocation at 28.1%, followed by Communication Services at 9.5% and Financial Services at 8.9%. This heavy weighting in growth-oriented industries suggests that the fund's performance will be highly correlated with the valuation multiples of large-cap tech giants rather than a balanced representation of value stocks or smaller enterprises across all sectors.
The top ten holdings account for a significant portion of the portfolio, led by NVIDIA at 6.5%, Apple at 5.9%, and Microsoft at 4.4%. Collectively, these three technology leaders alone comprise nearly 17% of total assets under management, creating a distinct tilt toward mega-cap innovators within the broader index methodology. When combined with additional tech names like Amazon, Alphabet, Broadcom, Meta, and Tesla, the effective exposure to high-growth communication services and consumer cyclical sectors is amplified beyond their standard weightings in many traditional broad market indices. This concentration implies that while the fund aims for diversification, its risk profile may behave more similarly to a large-cap growth strategy during periods of volatility affecting these specific mega-caps.
Geographically, the data provided strictly reflects U.S.-listed securities, confirming the instrument's domestic focus without explicit international exposure details in this snapshot. Quantitatively, the fund offers investors a leveraged view into the performance of America's largest and most influential corporations rather than a true micro-cap or mid-cap representation. The sheer size of the top holdings indicates that sector rotation driven by technology cycles will have an outsized impact on total returns compared to funds with lower concentration limits. Ultimately, this ETF serves as a vehicle for capturing the aggregate movement of major U.S. equities, but its specific internal composition highlights a reliance on a narrow set of industry leaders rather than equal weighting across thousands of companies.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-05-23 16:11:07.183051+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 95/100The investment theme implied by the name "Schwab U.S. Broad Market ETF" is a comprehensive representation of the entire United States equity market, and the provided data demonstrates a high degree of alignment with this objective. The fund's top holdings are dominated by major technology giants such as NVIDIA, Apple, Microsoft, Amazon, Google, Broadcom, Meta, and Tesla, which collectively represent significant portions of the total portfolio weight within their respective sectors. This concentration in large-cap equities across diverse industries like communication services, consumer cyclicals, and healthcare mirrors the capitalization-weighted structure of a broad market index rather than deviating into a narrow thematic strategy. The presence of Blue Chip stocks from financial services, energy, utilities, real estate, basic materials, industrials, and consumer defensives further confirms that the fund captures the full spectrum of U.S. economic activity without excluding any major industry group.
Sector coherence is evident as the weightings reflect the current market capitalization distribution rather than an artificial tilt toward a specific niche. Technology accounts for 28.1% of assets under management, followed by communication services at 9.5%, financial services at 8.9%, and consumer cyclicals at 8.5%, indicating that the fund's composition naturally follows where market value resides in the economy today. With over a hundred holdings distributed across twelve distinct sectors, including industrials, utilities, real estate, basic materials, healthcare, and energy, the portfolio maintains genuine differentiation from specialized thematic funds while adhering strictly to its mandate of broad exposure. The top-ten concentration stands at 32.2%, which is consistent with standard index construction methods where a few mega-cap stocks naturally command significant weight due to their size in the overall market. This structure ensures that performance drivers are distributed widely across the U.S. economy, providing investors with an unfiltered view of broad market trends without active selection bias or sector manipulation.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-17 14:22:03.856944+00
⚠️ Systemic Risk Synthesis
AI GeneratedThe newly disclosed risk factors from the top holdings of Schwab U.S. Broad Market ETF highlight a convergence of systemic macro-level threats centered on regulatory expansion and operational cost inflation. A primary emerging threat is the potential for stricter climate change regulations to materially impact financial conditions, particularly within high-weight technology sectors like NVIDIA, which could alter capital allocation strategies across the portfolio. Simultaneously, there is a distinct trend toward increased compliance burdens related to data privacy requirements and cybersecurity adherence, suggesting that operational expenses may rise significantly as companies navigate evolving legal landscapes designed to protect user information. Furthermore, the explicit mention of responsible AI usage regulations indicates that future policy developments could impose new cost structures on artificial intelligence deployment, potentially constraining competitive positioning for major market players who rely heavily on these technologies.
The concentration of these risks within the fund's largest positions signals a high degree of correlated downside exposure. With NVIDIA holding a 6.5% weight and facing simultaneous threats from environmental compliance, cybersecurity costs, and AI regulation, any adverse regulatory shift in one area could disproportionately impact the portfolio's performance due to this singular heavy weighting. This clustering suggests that macro-level policy changes targeting technology governance are not isolated incidents but rather widespread concerns affecting multiple top-tier holdings. The presence of similar risk categories across different sectors within the fund implies that broad legislative actions could trigger synchronized adjustments in valuation and profitability, thereby amplifying systemic volatility for investors holding this ETF.
While NVIDIA's specific trifecta of risks presents a notable concentration point, other top holdings such as Amazon, Google, and Meta also operate under intense scrutiny regarding data privacy and AI ethics, even if their individual 10-K filings were not fully detailed in the provided text. The sheer volume of capital allocated to companies flagged for regulatory compliance costs creates a vulnerability where macroeconomic headwinds related to government intervention could erode margins across the board. Observers should note that the interplay between environmental mandates and digital privacy laws represents a structural shift in operational overhead, which may necessitate significant strategic pivots by these dominant firms over the coming fiscal periods.
Synthesized from constituent 10-K risk factor disclosures. Not investment advice. Updated: 2026-05-24 00:20:06.3291+00
🏢 Sector Analysis
AI GeneratedThe Schwab U.S. Broad Market ETF exhibits a distinct overweight position in the Technology sector, which accounts for nearly 28% of total assets and dominates the top holdings list with four major names alone. This heavy allocation to technology giants like NVIDIA, Apple, Microsoft, Amazon, and Google suggests an investment thesis heavily influenced by recent market leaders rather than a strictly passive representation of historical weightings across all industries. The concentration risk is further amplified within this sector, as these five companies comprise over 20% of the entire portfolio, creating a scenario where performance is disproportionately tied to the fortunes of mega-cap tech firms. While Communication Services and Financial Services provide meaningful diversification at roughly 9% each, their impact on overall volatility may be dampened by the sheer size of the technology overweight.
The fund's factor tilt appears skewed toward growth and large-capitalization stocks due to the dominance of high-flying names in both Technology and Consumer Cyclical sectors. Although the portfolio includes exposure across twelve different industries, the effective diversification benefit is reduced because the top ten holdings alone represent more than 32% of assets, leaving a significant portion of capital concentrated in just five entities. The underweight positions in Utilities, Real Estate, Basic Materials, and Energy indicate that this specific fund snapshot does not mirror a balanced market index at this moment, potentially exposing investors to higher sensitivity regarding interest rate fluctuations or shifts away from discretionary spending if cyclical sectors weaken. Ultimately, the structure reflects a portfolio where broad market exposure is heavily weighted toward current market leaders in innovation and digital services rather than an even distribution of economic activity across all traditional industry groups.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-23 20:50:47.023834+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share SCHB's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of SCHB's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ITOTiShares Core S&P Total U.S. Stock Market ETF | $80B | — | 2266 | 99.7% |
| SCHXSCHX | $61B | — | 749 | 93.5% |
| URTHiShares MSCI World ETF | $7B | — | 540 | 90.1% |
| ACWIiShares MSCI ACWI ETF | $28B | — | 540 | 90.1% |
| IVViShares Core S&P 500 ETF | $762B | 0.03% | 500 | 88.2% |
100% of SCHB's portfolio by weight is also held by ITOT, which commands 2× more assets under management. When ITOT receives inflows, it mechanically buys these shared stocks — dragging SCHB's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofSCHB'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 85% 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 75% 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 SCHB 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 59% 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
ProprietarySCHB is up 28.7% over the last 12 months. The underlying weighted earnings growth of its constituents is +34.2%. Despite earnings growth, valuations have contracted by 5.5% — 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 73% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of SCHB's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of SCHB'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 69% 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.
SCHB has a Passive Crowding Score of 36/100. On average, 10.8% of the market capitalization of SCHB'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 | 6.47% | 32.4x | 4/9 |
| 2 | AAPL | Apple Inc Technology | 5.87% | 37.7x | 8/9 |
| 3 | MSFT | Microsoft Corp Technology | 4.39% | 26.8x | 5/9 |
| 4 | AMZN | Amazon.com Inc Consumer Cyclical | 3.07% | 31.7x | 6/9 |
| 5 | GOOGL | Alphabet Inc Communication Services | 2.73% | 29.0x | 6/9 |
| 6 | AVGO | Broadcom Inc Technology | 2.27% | 86.9x | 8/9 |
| 7 | GOOG | Alphabet Inc Communication Services | 2.18% | 28.7x | 6/9 |
| 8 | META | Meta Platforms Inc Communication Services | 2.12% | 23.0x | 5/9 |
| 9 | TSLA | Tesla Inc Consumer Cyclical | 1.70% | 399.8x | 5/9 |
| 10 | BRKB | Berkshire Hathaway Inc | 1.39% | — | — |
| 11 | LLY | Eli Lilly & Co Healthcare | 1.25% | 39.2x | 7/9 |
| 12 | JPM | JPMorgan Chase & Co Financial Services | 1.23% | 14.3x | 3/9 |
| 13 | XOM | Exxon Mobil Corp Energy | 0.97% | 24.5x | 5/9 |
| 14 | JNJ | Johnson & Johnson Healthcare | 0.90% | 26.1x | 4/9 |
| 15 | WMT | Walmart Inc Consumer Defensive | 0.84% | 40.8x | 7/9 |
Historical Holdings Snapshots
Browse how SCHB’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-05-24
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
2026-05-23
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
2026-05-22
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
2026-05-21
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
2026-05-20
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
2026-05-19
15 holdings · 37.4% tracked weight| # | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|
| 1 | NVDA | 6.47% | 14,130,790 | $2.5B |
| 2 | AAPL | 5.87% | 8,592,588 | $2.3B |
| 3 | MSFT | 4.39% | 4,321,757 | $1.7B |
| 4 | AMZN | 3.07% | 5,656,903 | $1.2B |
| 5 | GOOGL | 2.73% | 3,383,195 | $1.1B |
| 6 | AVGO | 2.27% | 2,745,924 | $877.5M |
| 7 | GOOG | 2.18% | 2,703,820 | $842.1M |
| 8 | META | 2.12% | 1,266,386 | $820.8M |
| 9 | TSLA | 1.70% | 1,634,013 | $657.7M |
| 10 | BRKB | 1.39% | 1,066,527 | $538.5M |
| 11 | LLY | 1.25% | 461,507 | $485.5M |
| 12 | JPM | 1.23% | 1,583,127 | $475.4M |
| 13 | XOM | 0.97% | 2,451,838 | $373.9M |
| 14 | JNJ | 0.90% | 1,400,502 | $347.9M |
| 15 | WMT | 0.84% | 2,549,166 | $326.2M |
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.
Fama-French 5-Factor Exposure
Academic factor model decomposition — what's really driving this ETF's returns.
Fama-French 5-Factor Model. Data: Kenneth French Data Library. Regression over 3 years of daily returns.
Price Chart with Moving Averages
What Drove SCHB Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Technical Setup
AI GeneratedThe 50-day moving average of SCHB is above its 200-day moving average, indicating an upward trend in the short term relative to the longer term. The RSI at 37.7 suggests that near-term momentum may be weakening but still indicates the security is not overbought or oversold.
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 SCHB’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 ($38.75B) 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.