SWMCX vs. SWPPX
Compare and contrast key facts about Schwab U.S. Mid-Cap Index Fund (SWMCX) and Schwab S&P 500 Index Fund (SWPPX).
SWMCX is managed by Charles Schwab. It was launched on Dec 20, 2017. 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.
Performance
SWMCX vs. SWPPX - Performance Comparison
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SWMCX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWMCX Schwab U.S. Mid-Cap Index Fund | -1.32% | 10.54% | 15.28% | 17.20% | -17.31% | 22.55% | 17.03% | 30.46% | -9.16% | 0.40% |
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% | -0.24% |
Returns By Period
In the year-to-date period, SWMCX achieves a -1.32% return, which is significantly higher than SWPPX's -7.07% return.
SWMCX
- 1D
- -0.70%
- 1M
- -7.73%
- YTD
- -1.32%
- 6M
- -1.19%
- 1Y
- 12.94%
- 3Y*
- 12.30%
- 5Y*
- 6.67%
- 10Y*
- —
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%
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SWMCX vs. SWPPX - Expense Ratio Comparison
SWMCX has a 0.04% 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%.
Return for Risk
SWMCX vs. SWPPX — Risk / Return Rank
SWMCX
SWPPX
SWMCX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Mid-Cap Index Fund (SWMCX) 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.
| SWMCX | SWPPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.72 | 0.84 | -0.12 |
Sortino ratioReturn per unit of downside risk | 1.12 | 1.30 | -0.18 |
Omega ratioGain probability vs. loss probability | 1.16 | 1.20 | -0.04 |
Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.06 | -0.20 |
Martin ratioReturn relative to average drawdown | 4.04 | 5.14 | -1.10 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWMCX | SWPPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.72 | 0.84 | -0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.37 | 0.68 | -0.31 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.76 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 0.48 | -0.03 |
Correlation
The correlation between SWMCX and SWPPX is 0.90, 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
SWMCX vs. SWPPX - Dividend Comparison
SWMCX's dividend yield for the trailing twelve months is around 2.15%, more than SWPPX's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWMCX Schwab U.S. Mid-Cap Index Fund | 2.15% | 2.13% | 2.60% | 1.49% | 1.59% | 2.93% | 1.45% | 2.44% | 1.41% | 0.00% | 0.00% | 0.00% |
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
SWMCX vs. SWPPX - Drawdown Comparison
The maximum SWMCX drawdown since its inception was -40.34%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SWMCX and SWPPX.
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Drawdown Indicators
| SWMCX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.34% | -55.06% | +14.72% |
Max Drawdown (1Y)Largest decline over 1 year | -13.43% | -12.10% | -1.33% |
Max Drawdown (5Y)Largest decline over 5 years | -26.09% | -24.51% | -1.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.80% | — |
Current DrawdownCurrent decline from peak | -8.15% | -8.89% | +0.74% |
Average DrawdownAverage peak-to-trough decline | -6.75% | -10.00% | +3.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.87% | 2.49% | +0.38% |
Volatility
SWMCX vs. SWPPX - Volatility Comparison
Schwab U.S. Mid-Cap Index Fund (SWMCX) has a higher volatility of 4.80% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.29%. This indicates that SWMCX'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.
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Volatility by Period
| SWMCX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.80% | 4.29% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 10.19% | 9.11% | +1.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.96% | 18.14% | +0.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.23% | 16.89% | +1.34% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.76% | 18.19% | +2.57% |