SPFIX vs. SWPPX

Last updated Jun 23, 2026

SPFIX (Shelton Capital Management S&P 500 Index Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - SPFIX is a S&P 500 fund tracking the S&P 500 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, SPFIX returned 17.61%/yr vs 15.55%/yr for SWPPX. With a 1.00 correlation, they move nearly in lockstep. SPFIX charges 0.43%/yr vs 0.02%/yr for SWPPX.

Performance

SPFIX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Shelton Capital Management S&P 500 Index Fund (SPFIX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SPFIX having a 9.90% return and SWPPX slightly higher at 10.15%. Over the past 10 years, SPFIX has outperformed SWPPX with an annualized return of 17.61%, while SWPPX has yielded a comparatively lower 15.55% annualized return.

SPFIX

• 1D: 1.08%
• 1M: 0.44%
• YTD: 9.90%
• 6M: 9.39%
• 1Y: 26.69%
• 3Y*: 25.97%
• 5Y*: 16.74%
• 10Y*: 17.61%

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)

SPFIX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPFIX Shelton Capital Management S&P 500 Index Fund	9.90%	17.23%	42.83%	25.48%	-18.22%	27.99%	17.41%	41.64%	-4.68%	21.55%
SWPPX Schwab S&P 500 Index Fund	10.15%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between SPFIX and SWPPX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 20, 1997	1.00

The correlation between SPFIX and SWPPX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.

Return for Risk

SPFIX vs. SWPPX — Risk / Return Rank

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

SPFIX

SPFIX Risk / Return Rank: 64
SPFIX Sharpe Ratio Rank: 63
SPFIX Sortino Ratio Rank: 56
SPFIX Omega Ratio Rank: 58
SPFIX Calmar Ratio Rank: 66
SPFIX Martin Ratio Rank: 76

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.

SPFIX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Shelton Capital Management S&P 500 Index Fund (SPFIX) 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.

	SPFIX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.16	-0.02
Sortino ratio: Return per unit of downside risk	2.89	2.91	-0.02
Omega ratio: Gain probability vs. loss probability	1.39	1.39	0.00
Calmar ratio: Return relative to maximum drawdown	2.98	3.04	-0.06
Martin ratio: Return relative to average drawdown	13.44	13.71	-0.27

SPFIX vs. SWPPX - Sharpe Ratio Comparison

The current SPFIX Sharpe Ratio is 2.14, which is comparable to the SWPPX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of SPFIX 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

SPFIX vs. SWPPX - Drawdown Comparison

The maximum SPFIX drawdown since its inception was -54.81%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SPFIX and SWPPX.

Drawdown Indicators

	SPFIX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-54.81%	-55.06%	+0.25%
Max Drawdown (1Y) Largest decline over 1 year	-8.90%	-8.89%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-18.94%	-18.74%	-0.20%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-24.51%	-0.18%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-33.80%	-0.03%
Current Drawdown Current decline from peak	-1.36%	-1.38%	+0.02%
Average Drawdown Average peak-to-trough decline	-8.94%	-9.93%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.97%	0.00%

Volatility

SPFIX vs. SWPPX - Volatility Comparison

Shelton Capital Management S&P 500 Index Fund (SPFIX) and Schwab S&P 500 Index Fund (SWPPX) have volatilities of 4.75% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPFIX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.75%	4.83%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	9.87%	9.94%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	12.42%	12.50%	-0.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.31%	17.03%	+1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	18.27%	+0.65%

SPFIX vs. SWPPX - Expense Ratio Comparison

SPFIX has a 0.43% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

SPFIX vs. SWPPX - Dividend Comparison

SPFIX's dividend yield for the trailing twelve months is around 3.31%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPFIX Shelton Capital Management S&P 500 Index Fund	3.31%	3.45%	27.20%	8.08%	5.07%	5.43%	8.06%	16.60%	2.49%	3.01%	2.92%	4.35%
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 SPFIX and SWPPX in my portfolio?

With a correlation of 1.00, SPFIX 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, SPFIX or SWPPX?

SWPPX has higher volatility (4.83%) compared to SPFIX (4.75%). In terms of maximum drawdown, SPFIX dropped -54.81% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.16 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.