Schwab U.S. Large-Cap Growth ETF (SCHG) Top 25 Holdings

The Schwab U.S. Large-Cap Growth ETF (SCHG) remains a favorite among investors seeking efficient exposure to the U.S. growth engine. Powered by America’s biggest technology and innovation companies, SCHG tracks the Dow Jones U.S. Large-Cap Growth Index and holds a who’s who of market leaders, including NVIDIA, Microsoft, Apple, Amazon, and Broadcom, among its largest positions. Together, these companies shape the direction of global markets and drive technological advancements.

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So far in 2025, SCHG has returned 15.3% year-to-date, outpacing broader market ETFs like SCHX and VOO. The ETF’s performance has been fueled by strong earnings in AI, cloud computing, and digital advertising, as well as stabilizing inflation and expectations of a soft landing for the U.S. economy. With interest-rate cuts on the horizon, growth stocks have continued to find favor, and SCHG has been one of the biggest beneficiaries.

What sets SCHG apart is its cost efficiency and balance. It captures the innovation of America’s leading companies while maintaining broad diversification across industries. Investors gain exposure to the world’s most profitable and transformative enterprises, spanning semiconductors, cloud infrastructure, streaming, healthcare, and fintech, all under one low-cost umbrella.

1. NVIDIA (NVDA)

NVIDIA remains the undisputed heavyweight of SCHG, commanding 11.6% of total assets. As the world’s leading GPU manufacturer, NVIDIA sits at the core of the artificial-intelligence boom. Its graphics chips power everything from data centers and self-driving cars to gaming consoles and generative AI systems. The company’s explosive growth has not only made it one of the most valuable semiconductor firms in history but also a cornerstone of the U.S. tech economy.

In 2025, NVIDIA’s momentum will continue as AI spending surges across industries. Hyperscale cloud providers, government labs, and enterprise AI initiatives have all contributed to record-level demand for NVIDIA’s H100 and upcoming Blackwell chips. The company’s gross margins remain near historical highs, reflecting both pricing power and scarcity in high-end GPUs.

For SCHG investors, NVIDIA provides direct exposure to the AI megatrend, arguably the most powerful growth catalyst of the decade. Its leadership position, robust cash flow, and expanding software ecosystem (through CUDA and AI-as-a-service offerings) make it not just a chip company, but a platform for the next generation of computing.

2. Microsoft (MSFT)

Microsoft, SCHG’s second-largest position at 9.6%, represents the enduring strength of cloud and software leadership. Under CEO Satya Nadella, Microsoft has transformed from a legacy software vendor into a full-spectrum cloud and AI powerhouse. Its Azure platform continues to grow at a double-digit pace, while Office 365 and Teams dominate the enterprise productivity landscape.

The company’s strategic integration of OpenAI’s technology into products like Copilot has reinforced Microsoft’s positioning as the go-to platform for AI-enhanced productivity. Its diversified revenue mix, spanning business software, gaming, and cloud infrastructure, gives it resilience in multiple economic conditions. Even as tech valuations expand, Microsoft’s consistent earnings growth and fortress balance sheet keep it a core holding in nearly every growth portfolio.

For SCHG, Microsoft represents stability wrapped in innovation. It provides investors with exposure to recurring revenue, expanding margins, and relentless innovation in AI, cybersecurity, and digital infrastructure. It’s the perfect blend of growth and dependability, which is exactly what SCHG aims to capture.

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3. Apple (AAPL)

Apple is the third-largest holding in SCHG, making up 9.6% of the fund. Despite maturing hardware growth, Apple continues to impress investors with its brand strength, ecosystem loyalty, and expanding services revenue. The company’s ecosystem, spanning iPhones, iPads, Macs, Watches, and the App Store, drives recurring cash flow unmatched in the consumer technology industry.

In 2025, Apple’s attention has turned toward AI integration and augmented reality. The rollout of the Vision Pro headset and AI-enhanced Siri features has signaled a pivot toward immersive technology and digital assistance. Meanwhile, its services division, including Apple Music, TV+, iCloud, and Apple Pay, continues to grow at a faster rate than hardware, helping offset cyclical slowdowns.

For SCHG investors, Apple is the definition of quality growth. Its combination of strong free cash flow generation, shareholder returns (through buybacks and dividends), and steady innovation makes it a stabilizing anchor within the ETF. It may not deliver the explosive gains of NVIDIA, but Apple’s consistency and global scale remain essential to SCHG’s performance and balance.

What SCHG Really Owns

SCHG’s top three holdings, NVIDIA, Microsoft, and Apple, account for over 30% of the ETF’s total weight, underscoring the dominance of U.S. mega-cap tech. These companies drive much of the fund’s performance and, by extension, the broader market. Beneath them, names like Amazon, Broadcom, Tesla, and Meta Platforms provide diversification across cloud, e-commerce, semiconductors, EVs, and social media, each contributing to SCHG’s position as a complete proxy for U.S. innovation.

Unlike some growth ETFs that lean heavily on momentum, SCHG blends exposure to market leaders with structural growth themes in AI, healthcare, cloud computing, and consumer technology. With over $26 billion in assets under management and one of the lowest expense ratios in its class, it has become a go-to choice for investors who want growth exposure without excessive fees or niche risk.

Key Insights

• +15.3% YTD return, 20.8% CAGR over 0.75 years.
• Dominated by mega-cap tech: top 5 holdings exceed 41% of total weight.
• Key sectors: Information Technology (48%), Consumer Discretionary (17%), Communication Services (12%), Health Care (7%).
• Strong performance driven by AI, cloud, and digital platform dominance.
• Cost-efficient ETF (0.04% expense ratio), one of the cheapest ways to own the U.S. growth story.

Why You Should Invest In this Innovation Engine

The Schwab U.S. Large-Cap Growth ETF remains a benchmark for investors who believe in America’s innovation engine. While 2025’s gains have been moderate compared to last year’s AI surge, SCHG continues to offer consistent exposure to the sectors that define the modern economy: technology, healthcare, and consumer platforms. Its 15.3% YTD return highlights how growth remains alive and well even as markets mature.

Looking ahead, SCHG’s success will depend on the sustainability of corporate earnings and the next wave of innovation. With AI adoption accelerating, cloud infrastructure expanding, and digital services becoming increasingly embedded in daily life, the ETF is well-positioned to benefit from multiple long-term trends. Volatility is always part of the package with growth investing, but SCHG’s diversified composition softens the extremes while keeping investors tethered to the upside.

For those seeking a simple, low-cost way to own the most dynamic companies in the world, the innovators that define productivity, entertainment, and technology, SCHG remains one of the most compelling choices in the ETF universe.

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Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!