SWOBX vs. SWPPX
SWOBX (Schwab Balanced Fund™) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - SWOBX is a Diversified Portfolio fund managed by Charles Schwab, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, SWOBX returned 9.00%/yr vs 15.77%/yr for SWPPX. Their correlation of 0.94 suggests significant overlap in exposure. SWOBX charges 0.00%/yr vs 0.02%/yr for SWPPX.
Performance
SWOBX vs. SWPPX - Performance Comparison
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Returns By Period
In the year-to-date period, SWOBX achieves a 4.87% return, which is significantly lower than SWPPX's 9.75% return. Over the past 10 years, SWOBX has underperformed SWPPX with an annualized return of 9.00%, while SWPPX has yielded a comparatively higher 15.77% annualized return.
SWOBX
- 1D
- -0.48%
- 1M
- 0.05%
- YTD
- 4.87%
- 6M
- 4.33%
- 1Y
- 14.94%
- 3Y*
- 12.67%
- 5Y*
- 6.33%
- 10Y*
- 9.00%
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%
SWOBX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWOBX Schwab Balanced Fund™ | 4.87% | 12.76% | 12.51% | 18.25% | -18.86% | 14.76% | 14.73% | 20.13% | -4.35% | 15.52% |
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 SWOBX and SWPPX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since May 20, 1997 | 0.94 |
The correlation between SWOBX and SWPPX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
SWOBX vs. SWPPX — Risk / Return Rank
SWOBX
SWPPX
SWOBX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Balanced Fund™ (SWOBX) 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.
| SWOBX | SWPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.42 | ||
| Sortino ratioReturn per unit of downside risk | -0.43 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.39 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.38 | 3.02 | -0.63 |
| Martin ratioReturn relative to average drawdown | 10.23 | 13.59 | -3.36 |
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Drawdowns
SWOBX vs. SWPPX - Drawdown Comparison
The maximum SWOBX drawdown since its inception was -35.99%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SWOBX and SWPPX.
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Drawdown Indicators
| SWOBX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.99% | -55.06% | +19.07% |
Max Drawdown (1Y)Largest decline over 1 year | -6.58% | -8.89% | +2.31% |
Max Drawdown (3Y)Largest decline over 3 years | -11.72% | -18.74% | +7.02% |
Max Drawdown (5Y)Largest decline over 5 years | -28.30% | -24.51% | -3.79% |
Max Drawdown (10Y)Largest decline over 10 years | -28.30% | -33.80% | +5.50% |
Current DrawdownCurrent decline from peak | -1.32% | -1.74% | +0.42% |
Average DrawdownAverage peak-to-trough decline | -6.21% | -9.93% | +3.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.97% | -0.44% |
Volatility
SWOBX vs. SWPPX - Volatility Comparison
The current volatility for Schwab Balanced Fund™ (SWOBX) is 3.46%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 4.73%. This indicates that SWOBX 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.
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Volatility by Period
| SWOBX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 4.73% | -1.27% |
Volatility (6M)Calculated over the trailing 6-month period | 7.35% | 9.87% | -2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.10% | 12.53% | -3.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.03% | 17.02% | -2.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.91% | 18.27% | -5.36% |
SWOBX vs. SWPPX - Expense Ratio Comparison
SWOBX has a 0.00% expense ratio, which is lower than SWPPX's 0.02% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SWOBX vs. SWPPX - Dividend Comparison
SWOBX's dividend yield for the trailing twelve months is around 5.22%, more than SWPPX's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWOBX Schwab Balanced Fund™ | 5.22% | 5.47% | 4.94% | 5.67% | 10.21% | 6.47% | 2.97% | 5.21% | 7.11% | 3.20% | 7.83% | 7.66% |
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
With a correlation of 0.97, SWOBX 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.
SWPPX has higher volatility (4.73%) compared to SWOBX (3.46%). In terms of maximum drawdown, SWOBX dropped -35.99% vs SWPPX's -55.06%.
SWPPX currently has the higher Sharpe Ratio (2.14 vs 1.73), 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.
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