SWPPX vs. FXAIX
SWPPX (Schwab S&P 500 Index Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, SWPPX returned 15.13%/yr vs 15.16%/yr for FXAIX. Their 1.00 correlation means they have historically moved very closely together. Both charge a 0.02% expense ratio.
Performance
SWPPX vs. FXAIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SWPPX having a 10.09% return and FXAIX slightly higher at 10.13%. Both investments have delivered pretty close results over the past 10 years, with SWPPX having a 15.13% annualized return and FXAIX not far ahead at 15.16%.
SWPPX
- 1D
- 0.68%
- 1M
- 0.16%
- 6M
- 7.94%
- YTD
- 10.09%
- 1Y
- 21.46%
- 3Y*
- 19.39%
- 5Y*
- 12.82%
- 10Y*
- 15.13%
- ALL TIME*
- 9.77%
FXAIX
- 1D
- 0.71%
- 1M
- 0.15%
- 6M
- 7.97%
- YTD
- 10.13%
- 1Y
- 21.49%
- 3Y*
- 19.42%
- 5Y*
- 12.84%
- 10Y*
- 15.16%
- ALL TIME*
- 13.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
SWPPX vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWPPX Schwab S&P 500 Index Fund | 10.09% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
FXAIX Fidelity 500 Index Fund | 10.13% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Correlation
The correlation between SWPPX and FXAIX is 1.00 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 1.00 |
Correlation (3Y) Balances recent behavior with more history. | 1.00 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 1.00 |
Correlation (10Y) Provides a long-term view across more market conditions. | 1.00 |
Correlation (All Time) Calculated using the full available price history since May 4, 2011 | 1.00 |
The correlation between SWPPX and FXAIX has been stable across timeframes, ranging from 1.00 to 1.00 - a consistent structural relationship.
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Return for Risk
SWPPX vs. FXAIX — Risk / Return Rank
SWPPX
FXAIX
SWPPX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab S&P 500 Index Fund (SWPPX) and Fidelity 500 Index Fund (FXAIX). 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.
| SWPPX | FXAIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.01 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.27 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 2.21 | 0.00 |
| Martin ratioReturn relative to average drawdown | 9.45 | 9.48 | -0.03 |
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Drawdowns
SWPPX vs. FXAIX - Drawdown Comparison
The maximum SWPPX drawdown since its inception was -55.06%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for SWPPX and FXAIX.
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Drawdown Indicators
| SWPPX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.06% | -33.79% | -21.27% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -8.89% | 0.00% |
Max Drawdown (3Y)Largest decline over 3 years | -18.74% | -18.76% | +0.02% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -24.50% | -0.01% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | -33.79% | -0.01% |
Current DrawdownCurrent decline from peak | -1.43% | -1.41% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -9.90% | -3.77% | -6.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.07% | 2.07% | 0.00% |
Volatility
SWPPX vs. FXAIX - Volatility Comparison
Schwab S&P 500 Index Fund (SWPPX) and Fidelity 500 Index Fund (FXAIX) have volatilities of 3.56% and 3.52%, 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.
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Volatility by Period
| SWPPX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.56% | 3.52% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 10.14% | 10.11% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.90% | 12.87% | +0.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.04% | 17.02% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.07% | +0.16% |
SWPPX vs. FXAIX - Expense Ratio Comparison
Both SWPPX and FXAIX have an expense ratio of 0.02%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SWPPX vs. FXAIX - Dividend Comparison
SWPPX's dividend yield for the trailing twelve months is around 1.01%, less than FXAIX's 1.06% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FXAIX Fidelity 500 Index Fund | 1.06% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
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 1.00, SWPPX and FXAIX 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 (3.56%) compared to FXAIX (3.52%). In terms of maximum drawdown, SWPPX dropped -55.06% vs FXAIX's -33.79%.
FXAIX currently has the higher Sharpe Ratio (1.53 vs 1.52), 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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