SCHD vs. SWPPX

Last updated Jun 24, 2026

SCHD (Schwab U.S. Dividend Equity ETF) and SWPPX (Schwab S&P 500 Index Fund) are both funds - SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SCHD returned 12.72%/yr vs 15.77%/yr for SWPPX. Their correlation of 0.81 suggests significant overlap in exposure. SCHD charges 0.06%/yr vs 0.02%/yr for SWPPX.

Performance

SCHD vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Dividend Equity ETF (SCHD) 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, SCHD achieves a 17.72% return, which is significantly higher than SWPPX's 9.75% return. Over the past 10 years, SCHD has underperformed SWPPX with an annualized return of 12.72%, while SWPPX has yielded a comparatively higher 15.77% annualized return.

SCHD

• 1D: 0.41%
• 1M: -2.47%
• YTD: 17.72%
• 6M: 17.25%
• 1Y: 24.56%
• 3Y*: 14.60%
• 5Y*: 8.71%
• 10Y*: 12.72%

SWPPX

• 1D: -0.36%
• 1M: 0.10%
• YTD: 9.75%
• 6M: 8.76%
• 1Y: 25.48%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

SCHD vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCHD Schwab U.S. Dividend Equity ETF	17.72%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%
SWPPX Schwab S&P 500 Index Fund	9.75%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between SCHD and SWPPX is 0.35, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.35
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (10Y) Calculated over the trailing 10-year period	0.76
Correlation (All Time) Calculated using the full available price history since Oct 20, 2011	0.81

Over the past year, the correlation between SCHD and SWPPX has dropped to 0.35 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

SCHD vs. SWPPX - Sectors Allocation Comparison

Sectors	SCHD	SWPPX
Technology	19.4%	39.0%
Consumer Defensive	18.5%	4.5%
Healthcare	18.4%	8.3%
Energy	14.6%	3.1%
Financial Services	9.1%	11.1%
Industrials	7.4%	7.8%
Consumer Cyclical	6.7%	9.9%
Communication Services	6.0%	10.6%
Basic Materials	1.2%	1.7%
Utilities	0.0%	2.1%
Real Estate	-	1.8%

Return for Risk

SCHD vs. SWPPX — Risk / Return Rank

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

SCHD

SCHD Risk / Return Rank: 77
SCHD Sharpe Ratio Rank: 72
SCHD Sortino Ratio Rank: 80
SCHD Omega Ratio Rank: 70
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 56
SWPPX Omega Ratio Rank: 59
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 78

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.

SCHD vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Dividend Equity ETF (SCHD) 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.

	SCHD	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.14	+0.09
Sortino ratio: Return per unit of downside risk	3.40	2.89	+0.51
Omega ratio: Gain probability vs. loss probability	1.40	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	5.35	3.02	+2.33
Martin ratio: Return relative to average drawdown	12.94	13.59	-0.65

SCHD vs. SWPPX - Sharpe Ratio Comparison

The current SCHD Sharpe Ratio is 2.23, which is comparable to the SWPPX Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of SCHD 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

SCHD vs. SWPPX - Drawdown Comparison

The maximum SCHD drawdown since its inception was -33.37%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SCHD and SWPPX.

Drawdown Indicators

	SCHD	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.37%	-55.06%	+21.69%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-8.89%	+4.28%
Max Drawdown (3Y) Largest decline over 3 years	-16.13%	-18.74%	+2.61%
Max Drawdown (5Y) Largest decline over 5 years	-16.85%	-24.51%	+7.66%
Max Drawdown (10Y) Largest decline over 10 years	-33.37%	-33.80%	+0.43%
Current Drawdown Current decline from peak	-2.47%	-1.74%	-0.73%
Average Drawdown Average peak-to-trough decline	-3.31%	-9.93%	+6.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	1.97%	-0.07%

Volatility

SCHD vs. SWPPX - Volatility Comparison

The current volatility for Schwab U.S. Dividend Equity ETF (SCHD) is 3.58%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 4.73%. This indicates that SCHD 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

	SCHD	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.58%	4.73%	-1.15%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	9.87%	-2.14%
Volatility (1Y) Calculated over the trailing 1-year period	11.07%	12.53%	-1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.36%	17.02%	-2.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.71%	18.27%	-1.56%

SCHD vs. SWPPX - Expense Ratio Comparison

SCHD has a 0.06% 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%.

Dividends

SCHD vs. SWPPX - Dividend Comparison

SCHD's dividend yield for the trailing twelve months is around 3.30%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHD Schwab U.S. Dividend Equity ETF	3.30%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%
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 SCHD and SWPPX in my portfolio?

SCHD and SWPPX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCHD or SWPPX?

SWPPX has higher volatility (4.73%) compared to SCHD (3.58%). In terms of maximum drawdown, SCHD dropped -33.37% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.23 vs 2.14), 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.