Here's how it works:
* Schwa is a vowel sound that is short, unstressed, and sounds like a very short "uh" sound.
* In "upon", the stress is on the first syllable, "u". This makes the second syllable, "pon", unstressed.
* Because the "o" in "pon" is unstressed, it makes the schwa sound.
So, the schwa sound in "upon" is the "u" sound in "pon".