Schwab U.S. Large-Cap ETF

Schwab U.S. Large-Cap ETF (SCHX) is an index fund that tracks the Dow Jones U.S. Large-Cap Total Stock Market Index, which covers roughly the 750 largest U.S. companies, weighted by size. It may suit investors who want a low-cost core stock holding: its 0.03% annual fee is half the 0.06% average of similar funds, though two rivals charge less. At $74.2 billion in assets as of August 31, 2026, it was the largest fund in its comparison group.

• Over the year to Nov 2, 2026, SCHX returned +10.9%, 9th of 9 among similar funds.
• Its 5-year annualized return was +11.2% and its 10-year +15.4%.
• In the 2020 COVID crash it fell 34.3% and regained its old high 4.5 months after the low.
• Its worst full calendar year was 2022 (-19.4%); its best was 2019 (+31.2%).
• The deepest fall in its price history was 34.3% (Feb 19, 2020 to Mar 23, 2020), recovered by Aug 6, 2020.

As of Aug 31, 2026, the fund held 747 securities; the ten largest made up 35.99% of assets.

By sector

• Over the three months to Aug 31, 2026, investors added a net $402.6M (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: -0.85%, -0.03%, +2.75%.

SCHX, run by Schwab Asset Management, aims to match the total return (price change plus dividends) of the Dow Jones U.S. Large-Cap Total Stock Market Index before fees. That index holds the U.S. stocks ranked 1 to 750 by full market capitalization (total company value). It had 758 stocks as of August 31, 2025. Weights follow float-adjusted market value, which counts only shares available to the public, so the biggest companies carry the most weight.

The fund keeps at least 90% of its net assets in index stocks, generally at the index's weights. Schwab may depart from those weights for tax, liquidity or trading reasons, and it may act ahead of expected index changes. Up to 10% can sit outside the index. That includes other funds, cash and futures contracts, which are used mainly to keep spare cash invested. The fund may also lend out its securities to help narrow the gap with its index.

Because weights follow company size, a few giants dominate. As of August 31, 2026, NVIDIA (7.7%), Apple (6.7%) and Microsoft (5.4%) led the fund's 747 holdings, and the top 10 made up about 36% of assets. The fund may become "non-diversified" under federal rules if those stocks grow large enough, meaning it would hold big stakes in relatively few companies. It is not leveraged. As an index fund, it makes no attempt to cushion market declines.

• SCHX charges 0.03% a year, versus an average of 0.06% for the similar funds below (3rd of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $3 in the first year and $39 over 10 years (assuming a 5% annual return).

Its 0.03% fee and size-weighted mix of roughly 750 large U.S. companies let it anchor the stock portion of a long-term portfolio.

SCHX can anchor a portfolio's stock holdings, but it falls with the market. It launched in November 2009, after the 2008 financial crisis. In the 2020 COVID crash it dropped 34.3% from February 19 to March 23. It was back at its prior high by August 6, about 4.5 months after the low. The 2022 downturn cut 25.4% and took 14 months to recover, and 2022 was its worst calendar year, down 19.4%. Anyone forced to cash out shares after drops like these locks in losses, so many retirees keep near-term spending money in steadier assets.

Income is modest: a 1.02% trailing 12-month yield as of October 27, 2026, paid quarterly. Costs are tiny: at 0.03% a year, the SEC's standard example shows $39 in expenses on $10,000 over 10 years. Past results don't predict future returns, and a retirement plan needs to weigh the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.