FNDX vs. SWPPX

Last updated Apr 1, 2026

Compare and contrast key facts about Schwab Fundamental U.S. Large Company Index ETF (FNDX) and Schwab S&P 500 Index Fund (SWPPX).

FNDX is a passively managed fund by Charles Schwab that tracks the performance of the Russell Fundamental U.S. Large Company Index. It was launched on Aug 15, 2013. SWPPX is a passively managed fund by Charles Schwab that tracks the performance of the S&P 500 Index. It was launched on May 19, 1997. Both FNDX and SWPPX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

FNDX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental U.S. Large Company Index ETF (FNDX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

FNDX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FNDX Schwab Fundamental U.S. Large Company Index ETF	2.76%	16.94%	16.77%	18.23%	-6.92%	31.73%	9.12%	28.65%	-7.30%	17.12%
SWPPX Schwab S&P 500 Index Fund	-7.07%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Returns By Period

In the year-to-date period, FNDX achieves a 2.76% return, which is significantly higher than SWPPX's -7.07% return. Both investments have delivered pretty close results over the past 10 years, with FNDX having a 13.26% annualized return and SWPPX not far ahead at 13.71%.

FNDX

• 1D: 1.98%
• 1M: -3.68%
• YTD: 2.76%
• 6M: 6.80%
• 1Y: 19.99%
• 3Y*: 17.12%
• 5Y*: 11.99%
• 10Y*: 13.26%

SWPPX

• 1D: -0.37%
• 1M: -7.65%
• YTD: -7.07%
• 6M: -4.58%
• 1Y: 14.43%
• 3Y*: 17.15%
• 5Y*: 11.39%
• 10Y*: 13.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FNDX vs. SWPPX - Expense Ratio Comparison

FNDX has a 0.25% expense ratio, which is higher than SWPPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

FNDX

Schwab Fundamental U.S. Large Company Index ETF

SWPPX

Schwab S&P 500 Index Fund

Return for Risk

FNDX vs. SWPPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FNDX

FNDX Risk / Return Rank: 75
FNDX Sharpe Ratio Rank: 73
FNDX Sortino Ratio Rank: 75
FNDX Omega Ratio Rank: 77
FNDX Calmar Ratio Rank: 71
FNDX Martin Ratio Rank: 81

SWPPX

SWPPX Risk / Return Rank: 46
SWPPX Sharpe Ratio Rank: 41
SWPPX Sortino Ratio Rank: 45
SWPPX Omega Ratio Rank: 50
SWPPX Calmar Ratio Rank: 42
SWPPX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FNDX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental U.S. Large Company Index ETF (FNDX) and Schwab S&P 500 Index Fund (SWPPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	FNDX	SWPPX	Difference
Sharpe ratio Return per unit of total volatility	1.24	0.84	+0.40
Sortino ratio Return per unit of downside risk	1.80	1.30	+0.50
Omega ratio Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio Return relative to maximum drawdown	1.73	1.06	+0.67
Martin ratio Return relative to average drawdown	8.31	5.14	+3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FNDX vs. SWPPX - Sharpe Ratio Comparison

The current FNDX Sharpe Ratio is 1.24, which is higher than the SWPPX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of FNDX and SWPPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FNDX	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.24	0.84	+0.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	0.68	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.76	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.48	+0.26

Correlation

The correlation between FNDX and SWPPX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FNDX vs. SWPPX - Dividend Comparison

FNDX's dividend yield for the trailing twelve months is around 1.62%, more than SWPPX's 1.19% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.62%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
SWPPX Schwab S&P 500 Index Fund	1.19%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Drawdowns

FNDX vs. SWPPX - Drawdown Comparison

The maximum FNDX drawdown since its inception was -37.72%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for FNDX and SWPPX.

Drawdown Indicators

	FNDX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-37.72%	-55.06%	+17.34%
Max Drawdown (1Y) Largest decline over 1 year	-12.25%	-12.10%	-0.15%
Max Drawdown (5Y) Largest decline over 5 years	-19.06%	-24.51%	+5.45%
Max Drawdown (10Y) Largest decline over 10 years	-37.72%	-33.80%	-3.92%
Current Drawdown Current decline from peak	-4.21%	-8.89%	+4.68%
Average Drawdown Average peak-to-trough decline	-3.59%	-10.00%	+6.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.55%	2.49%	+0.06%

Volatility

FNDX vs. SWPPX - Volatility Comparison

The current volatility for Schwab Fundamental U.S. Large Company Index ETF (FNDX) is 3.93%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 4.29%. This indicates that FNDX experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FNDX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	4.29%	-0.36%
Volatility (6M) Calculated over the trailing 6-month period	8.05%	9.11%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	16.21%	18.14%	-1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.26%	16.89%	-1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	18.19%	-0.68%