NANC vs. SWPPX

Last updated Jun 23, 2026

NANC (Unusual Whales Subversive Democratic Trading ETF) and SWPPX (Schwab S&P 500 Index Fund) are both Large Cap Blend Equities funds. NANC is actively managed, while SWPPX is passively managed. Over the past 3 years, NANC returned 22.72%/yr vs 20.95%/yr for SWPPX. Their correlation of 0.94 suggests significant overlap in exposure. NANC charges 0.72%/yr vs 0.02%/yr for SWPPX.

Performance

NANC vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Unusual Whales Subversive Democratic Trading ETF (NANC) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NANC achieves a 8.92% return, which is significantly lower than SWPPX's 10.15% return.

NANC

• 1D: -0.46%
• 1M: 1.61%
• YTD: 8.92%
• 6M: 8.48%
• 1Y: 24.50%
• 3Y*: 22.72%
• 5Y*: —
• 10Y*: —

SWPPX

• 1D: 1.10%
• 1M: 0.47%
• YTD: 10.15%
• 6M: 9.65%
• 1Y: 27.14%
• 3Y*: 20.95%
• 5Y*: 14.08%
• 10Y*: 15.55%

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

NANC vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
NANC Unusual Whales Subversive Democratic Trading ETF	8.92%	18.54%	26.83%	22.81%
SWPPX Schwab S&P 500 Index Fund	10.15%	17.87%	24.96%	17.78%

Correlation

The correlation between NANC and SWPPX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 7, 2023	0.94

The correlation between NANC and SWPPX has been stable across timeframes, ranging from 0.94 to 0.96 - a consistent structural relationship.

NANC vs. SWPPX - Sectors Allocation Comparison

Sectors	NANC	SWPPX
Technology	45.0%	39.0%
Communication Services	13.9%	10.6%
Healthcare	9.3%	8.3%
Consumer Cyclical	8.7%	9.9%
Financial Services	8.2%	11.1%
Consumer Defensive	7.2%	4.5%
Industrials	5.1%	7.8%
Basic Materials	1.9%	1.7%
Utilities	0.6%	2.1%
Energy	-	3.1%
Real Estate	-	1.8%

Return for Risk

NANC vs. SWPPX — Risk / Return Rank

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

NANC

NANC Risk / Return Rank: 48
NANC Sharpe Ratio Rank: 52
NANC Sortino Ratio Rank: 50
NANC Omega Ratio Rank: 50
NANC Calmar Ratio Rank: 42
NANC Martin Ratio Rank: 49

SWPPX

SWPPX Risk / Return Rank: 66
SWPPX Sharpe Ratio Rank: 64
SWPPX Sortino Ratio Rank: 58
SWPPX Omega Ratio Rank: 60
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 79

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.

NANC vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Unusual Whales Subversive Democratic Trading ETF (NANC) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	NANC	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	1.72	2.16	-0.44
Sortino ratio: Return per unit of downside risk	2.37	2.91	-0.54
Omega ratio: Gain probability vs. loss probability	1.31	1.39	-0.09
Calmar ratio: Return relative to maximum drawdown	2.01	3.04	-1.02
Martin ratio: Return relative to average drawdown	8.16	13.71	-5.55

NANC vs. SWPPX - Sharpe Ratio Comparison

The current NANC Sharpe Ratio is 1.72, which is comparable to the SWPPX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of NANC and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

NANC vs. SWPPX - Drawdown Comparison

The maximum NANC drawdown since its inception was -20.94%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for NANC and SWPPX.

Drawdown Indicators

	NANC	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-20.94%	-55.06%	+34.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-8.89%	-3.32%
Max Drawdown (3Y) Largest decline over 3 years	-20.94%	-18.74%	-2.20%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-1.85%	-1.38%	-0.47%
Average Drawdown Average peak-to-trough decline	-2.66%	-9.93%	+7.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	1.97%	+1.04%

Volatility

NANC vs. SWPPX - Volatility Comparison

Unusual Whales Subversive Democratic Trading ETF (NANC) has a higher volatility of 5.65% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.83%. This indicates that NANC's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NANC	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.65%	4.83%	+0.82%
Volatility (6M) Calculated over the trailing 6-month period	11.42%	9.94%	+1.48%
Volatility (1Y) Calculated over the trailing 1-year period	14.37%	12.50%	+1.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.86%	17.03%	-0.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.86%	18.27%	-1.41%

NANC vs. SWPPX - Expense Ratio Comparison

NANC has a 0.72% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

NANC vs. SWPPX - Dividend Comparison

NANC's dividend yield for the trailing twelve months is around 0.19%, less than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NANC Unusual Whales Subversive Democratic Trading ETF	0.19%	0.21%	0.20%	0.94%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both NANC and SWPPX in my portfolio?

With a correlation of 0.96, NANC and SWPPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NANC or SWPPX?

NANC has higher volatility (5.65%) compared to SWPPX (4.83%). In terms of maximum drawdown, NANC dropped -20.94% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.16 vs 1.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.