SSPIX vs. SWPPX

Last updated Jun 4, 2026

SSPIX (SEI Institutional Managed Trust S&P 500 Index Fund) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - SSPIX 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, SSPIX returned 15.28%/yr vs 15.63%/yr for SWPPX. With a 1.00 correlation, they move nearly in lockstep. SSPIX charges 0.25%/yr vs 0.02%/yr for SWPPX.

Performance

SSPIX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) 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 SSPIX having a 11.51% return and SWPPX slightly higher at 11.69%. Both investments have delivered pretty close results over the past 10 years, with SSPIX having a 15.28% annualized return and SWPPX not far ahead at 15.63%.

SSPIX

• 1D: 0.13%
• 1M: 5.76%
• YTD: 11.51%
• 6M: 11.44%
• 1Y: 28.48%
• 3Y*: 22.36%
• 5Y*: 13.92%
• 10Y*: 15.28%

SWPPX

• 1D: 0.15%
• 1M: 5.83%
• YTD: 11.69%
• 6M: 11.71%
• 1Y: 28.97%
• 3Y*: 22.73%
• 5Y*: 14.26%
• 10Y*: 15.63%

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

SSPIX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SSPIX SEI Institutional Managed Trust S&P 500 Index Fund	11.51%	17.44%	24.60%	26.00%	-18.52%	28.56%	18.13%	31.25%	-4.61%	20.83%
SWPPX Schwab S&P 500 Index Fund	11.69%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between SSPIX and SWPPX is 0.98 - 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	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since May 21, 1997	1.00

The correlation between SSPIX and SWPPX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.

Return for Risk

SSPIX vs. SWPPX — Risk / Return Rank

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

SSPIX

SSPIX Risk / Return Rank: 71
SSPIX Sharpe Ratio Rank: 73
SSPIX Sortino Ratio Rank: 65
SSPIX Omega Ratio Rank: 66
SSPIX Calmar Ratio Rank: 71
SSPIX Martin Ratio Rank: 81

SWPPX

SWPPX Risk / Return Rank: 73
SWPPX Sharpe Ratio Rank: 75
SWPPX Sortino Ratio Rank: 67
SWPPX Omega Ratio Rank: 67
SWPPX Calmar Ratio Rank: 74
SWPPX Martin Ratio Rank: 83

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.

SSPIX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) 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.

	SSPIX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.52	-0.03
Sortino ratio: Return per unit of downside risk	3.37	3.41	-0.04
Omega ratio: Gain probability vs. loss probability	1.45	1.46	0.00
Calmar ratio: Return relative to maximum drawdown	3.28	3.36	-0.08
Martin ratio: Return relative to average drawdown	15.24	15.67	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SSPIX vs. SWPPX - Sharpe Ratio Comparison

The current SSPIX Sharpe Ratio is 2.48, which is comparable to the SWPPX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of SSPIX 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.

Sharpe Ratios by Period

	SSPIX	SWPPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.52	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.85	-0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.81	0.86	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.51	-0.01

Drawdowns

SSPIX vs. SWPPX - Drawdown Comparison

The maximum SSPIX drawdown since its inception was -55.66%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SSPIX and SWPPX.

Drawdown Indicators

	SSPIX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-55.66%	-55.06%	-0.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-8.89%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-25.65%	-18.74%	-6.91%
Max Drawdown (5Y) Largest decline over 5 years	-25.65%	-24.51%	-1.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.82%	-33.80%	-0.02%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-10.50%	-9.95%	-0.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	1.90%	+0.02%

Volatility

SSPIX vs. SWPPX - Volatility Comparison

SEI Institutional Managed Trust S&P 500 Index Fund (SSPIX) and Schwab S&P 500 Index Fund (SWPPX) have volatilities of 2.83% and 2.83%, 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

	SSPIX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.83%	2.83%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	8.94%	8.98%	-0.04%
Volatility (1Y) Calculated over the trailing 1-year period	11.83%	11.87%	-0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.45%	16.93%	+1.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.88%	18.23%	+0.65%

SSPIX vs. SWPPX - Expense Ratio Comparison

SSPIX 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%.

Dividends

SSPIX vs. SWPPX - Dividend Comparison

SSPIX's dividend yield for the trailing twelve months is around 8.01%, more than SWPPX's 0.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SSPIX SEI Institutional Managed Trust S&P 500 Index Fund	8.01%	8.91%	12.73%	4.51%	10.84%	7.47%	6.18%	4.46%	4.37%	1.96%	4.62%	1.77%
SWPPX Schwab S&P 500 Index Fund	0.99%	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 SSPIX and SWPPX in my portfolio?

With a correlation of 0.98, SSPIX 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, SSPIX or SWPPX?

SWPPX has higher volatility (2.83%) compared to SSPIX (2.83%). In terms of maximum drawdown, SSPIX dropped -55.66% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.52 vs 2.48), 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.