SWP vs. FNDX

Last updated Jun 24, 2026

SWP (SWP Growth & Income ETF) and FNDX (Schwab Fundamental U.S. Large Company Index ETF) are both exchange-traded funds - SWP is a Large Cap Blend Equities fund actively managed by SWP Investment Management, while FNDX is a Large Cap Value Equities fund tracking the RAFI Fundamental High Liquidity US Large Index. SWP is actively managed, while FNDX is passively managed. Over the past year, SWP returned 19.64% vs 30.33% for FNDX. Their correlation of 0.84 suggests significant overlap in exposure. SWP charges 0.99%/yr vs 0.25%/yr for FNDX.

Performance

SWP vs. FNDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SWP Growth & Income ETF (SWP) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWP achieves a 5.13% return, which is significantly lower than FNDX's 14.31% return.

SWP

• 1D: 0.09%
• 1M: -0.96%
• YTD: 5.13%
• 6M: 4.51%
• 1Y: 19.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FNDX

• 1D: -0.42%
• 1M: 0.52%
• YTD: 14.31%
• 6M: 13.73%
• 1Y: 30.33%
• 3Y*: 20.33%
• 5Y*: 13.24%
• 10Y*: 14.48%

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

SWP vs. FNDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SWP SWP Growth & Income ETF	5.13%	16.86%	0.95%
FNDX Schwab Fundamental U.S. Large Company Index ETF	14.31%	16.94%	0.18%

Correlation

The correlation between SWP and FNDX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.84

The correlation between SWP and FNDX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

SWP vs. FNDX — Risk / Return Rank

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

SWP

SWP Risk / Return Rank: 51
SWP Sharpe Ratio Rank: 52
SWP Sortino Ratio Rank: 52
SWP Omega Ratio Rank: 51
SWP Calmar Ratio Rank: 43
SWP Martin Ratio Rank: 54

FNDX

FNDX Risk / Return Rank: 89
FNDX Sharpe Ratio Rank: 90
FNDX Sortino Ratio Rank: 91
FNDX Omega Ratio Rank: 89
FNDX Calmar Ratio Rank: 88
FNDX Martin Ratio Rank: 89

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.

SWP vs. FNDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SWP Growth & Income ETF (SWP) and Schwab Fundamental U.S. Large Company Index ETF (FNDX). 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.

	SWP	FNDX	Difference
Sharpe ratio: Return per unit of total volatility	1.64	2.92	-1.28
Sortino ratio: Return per unit of downside risk	2.32	4.05	-1.72
Omega ratio: Gain probability vs. loss probability	1.30	1.53	-0.24
Calmar ratio: Return relative to maximum drawdown	1.98	5.02	-3.05
Martin ratio: Return relative to average drawdown	8.67	19.42	-10.75

SWP vs. FNDX - Sharpe Ratio Comparison

The current SWP Sharpe Ratio is 1.64, which is lower than the FNDX Sharpe Ratio of 2.92. The chart below compares the historical Sharpe Ratios of SWP and FNDX, 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

SWP vs. FNDX - Drawdown Comparison

The maximum SWP drawdown since its inception was -16.41%, smaller than the maximum FNDX drawdown of -37.72%. Use the drawdown chart below to compare losses from any high point for SWP and FNDX.

Drawdown Indicators

	SWP	FNDX	Difference
Max Drawdown Largest peak-to-trough decline	-16.41%	-37.72%	+21.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.97%	-6.06%	-3.91%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.30%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-19.06%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.72%	—
Current Drawdown Current decline from peak	-2.47%	-1.43%	-1.04%
Average Drawdown Average peak-to-trough decline	-2.39%	-3.55%	+1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.57%	+0.70%

Volatility

SWP vs. FNDX - Volatility Comparison

The current volatility for SWP Growth & Income ETF (SWP) is 3.05%, while Schwab Fundamental U.S. Large Company Index ETF (FNDX) has a volatility of 3.33%. This indicates that SWP experiences smaller price fluctuations and is considered to be less risky than FNDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWP	FNDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.33%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	9.57%	7.63%	+1.94%
Volatility (1Y) Calculated over the trailing 1-year period	12.10%	10.47%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.44%	15.18%	-0.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	17.48%	-3.04%

SWP vs. FNDX - Expense Ratio Comparison

SWP has a 0.99% expense ratio, which is higher than FNDX's 0.25% expense ratio.

Dividends

SWP vs. FNDX - Dividend Comparison

SWP's dividend yield for the trailing twelve months is around 6.95%, more than FNDX's 1.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FNDX Schwab Fundamental U.S. Large Company Index ETF	1.45%	1.63%	1.76%	1.82%	2.07%	1.64%	2.29%	2.23%	2.40%	1.86%	2.01%	2.01%
SWP SWP Growth & Income ETF	6.95%	5.64%	0.44%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWP and FNDX in my portfolio?

SWP and FNDX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWP or FNDX?

FNDX has higher volatility (3.33%) compared to SWP (3.05%). In terms of maximum drawdown, SWP dropped -16.41% vs FNDX's -37.72%.

Which ETF is better, SWP or FNDX?

On 1-year performance, FNDX leads with 30.33% vs 19.64% for SWP. On fees, FNDX is cheaper at 0.25% per year. On volatility, SWP has been the lower-risk option at 3.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SWP or FNDX?

Over the 1-year period, FNDX has performed better with a 30.33% return vs 19.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SWP or FNDX?

FNDX is cheaper with a 0.25% expense ratio, compared with 0.99% for SWP.

Which ETF pays a higher dividend yield, SWP or FNDX?

SWP has the higher dividend yield at 6.95%, compared with 1.45% for FNDX.

What is the main difference between SWP and FNDX?

SWP is categorized as Large Cap Blend Equities, while FNDX is Large Cap Value Equities. They also come from different issuers: SWP Investment Management and Charles Schwab. Their fees differ too: 0.99% for SWP and 0.25% for FNDX.

Which has better risk-adjusted returns?

FNDX currently has the higher Sharpe Ratio (2.92 vs 1.64), 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.