A Yahoo Finance analysis indicates that the Schwab U.S. Large-Cap Growth ETF (SCHG) has returned 10.12% year-to-date, trailing the S&P 500's 13.38% and the Nasdaq-100's 16.83%. The analysis attributes this underperformance to SCHG's concentrated holdings, with NVIDIA (11.01%), Apple (9.83%), and Microsoft (7.17%) collectively accounting for nearly one-third of the fund. For instance, SCHG's Apple allocation alone is larger than its combined holdings in Tesla (3.91%), Meta Platforms (3.45%), and Palantir (1.25%). The report suggests that while Apple and NVIDIA performed well, Microsoft's more modest 6.15% return and the fund's methodology limiting high-growth names like Palantir (capped at 1.25% despite strong revenue growth) contributed to the lag. The analysis concludes that SCHG's design is not flawed, but rather reflects the broader growth category's performance relative to the market