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SWPPX vs. SWVXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWPPX vs. SWVXX

Last updated Jun 24, 2026

SWPPX (Schwab S&P 500 Index Fund) and SWVXX (Schwab Prime Advantage Money Fund Investor Shares) are both mutual funds - SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while SWVXX is a Money Market fund actively managed by Charles Schwab. SWPPX is passively managed, while SWVXX is actively managed. Over the past 5 years, SWPPX returned 13.58%/yr vs 3.14%/yr for SWVXX. At a 0.01 correlation, their price movements are largely independent. SWPPX charges 0.02%/yr vs 0.34%/yr for SWVXX.

Performance

SWPPX vs. SWVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab S&P 500 Index Fund (SWPPX) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SWPPX achieves a 9.75% return, which is significantly higher than SWVXX's 1.45% return.

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%

SWVXX

1D
0.00%
1M
0.29%
YTD
1.45%
6M
1.77%
1Y
3.85%
3Y*
4.56%
5Y*
3.14%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SWPPX vs. SWVXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SWPPX
Schwab S&P 500 Index Fund		9.75%17.87%24.96%26.26%-18.14%14.48%
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		1.45%4.15%5.16%5.04%0.00%0.00%

Correlation

The correlation between SWPPX and SWVXX is -0.00, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.00

Correlation (3Y)
Calculated over the trailing 3-year period

-0.01

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.01

Compare stocks, funds, or ETFs

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Schwab S&P 500 Index Fund

Schwab Prime Advantage Money Fund Investor Shares

Often compared with SWPPX:
SWPPX vs. VOOSWPPX vs. SWTSXSWPPX vs. SCHXSWPPX vs. SCHDSWPPX vs. SWLGXSWPPX vs. SNXFXSWPPX vs. QQQ
Often compared with SWVXX:
SWVXX vs. SGOVSWVXX vs. VMFXXSWVXX vs. SNSXXSWVXX vs. SPAXXSWVXX vs. SHVSWVXX vs. BILSWVXX vs. SWAGX

Return for Risk

SWPPX vs. SWVXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SWPPX
SWPPX Risk / Return Rank: 6565
Overall Rank
SWPPX Sharpe Ratio Rank: 6363
Sharpe Ratio Rank
SWPPX Sortino Ratio Rank: 5656
Sortino Ratio Rank
SWPPX Omega Ratio Rank: 5959
Omega Ratio Rank
SWPPX Calmar Ratio Rank: 6868
Calmar Ratio Rank
SWPPX Martin Ratio Rank: 7878
Martin Ratio Rank
SWVXX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

SWPPX vs. SWVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab S&P 500 Index Fund (SWPPX) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). 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.

SWPPXSWVXXDifference
Sharpe ratioReturn per unit of total volatility
2.14
3.71

-1.57

Sortino ratioReturn per unit of downside risk
2.89

—

—

Omega ratioGain probability vs. loss probability

1.39

—

—

Calmar ratioReturn relative to maximum drawdown

3.02

—

—

Martin ratioReturn relative to average drawdown

13.59

—

—

SWPPX vs. SWVXX - Sharpe Ratio Comparison

The current SWPPX Sharpe Ratio is 2.14, which is lower than the SWVXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of SWPPX and SWVXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SWPPX vs. SWVXX - Drawdown Comparison

The maximum SWPPX drawdown since its inception was -55.06%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SWPPX and SWVXX.

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Drawdown Indicators

SWPPXSWVXXDifference

Max Drawdown

Largest peak-to-trough decline

-55.06%

0.00%

-55.06%

Max Drawdown (1Y)

Largest decline over 1 year

-8.89%

0.00%

-8.89%

Max Drawdown (3Y)

Largest decline over 3 years

-18.74%

0.00%

-18.74%

Max Drawdown (5Y)

Largest decline over 5 years

-24.51%

0.00%

-24.51%

Max Drawdown (10Y)

Largest decline over 10 years

-33.80%

—

—

Current Drawdown

Current decline from peak

-1.74%

0.00%

-1.74%

Average Drawdown

Average peak-to-trough decline

-9.93%

0.00%

-9.93%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.97%

0.00%

+1.97%

Volatility

SWPPX vs. SWVXX - Volatility Comparison

Schwab S&P 500 Index Fund (SWPPX) has a higher volatility of 4.73% compared to Schwab Prime Advantage Money Fund Investor Shares (SWVXX) at 0.29%. This indicates that SWPPX's price experiences larger fluctuations and is considered to be riskier than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWPPXSWVXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.73%

0.29%

+4.44%

Volatility (6M)

Calculated over the trailing 6-month period

9.87%

0.70%

+9.17%

Volatility (1Y)

Calculated over the trailing 1-year period

12.53%

1.10%

+11.43%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.02%

1.09%

+15.93%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.27%

1.09%

+17.18%

SWPPX vs. SWVXX - Expense Ratio Comparison

SWPPX has a 0.02% expense ratio, which is lower than SWVXX's 0.34% expense ratio.

Dividends

SWPPX vs. SWVXX - Dividend Comparison

SWPPX's dividend yield for the trailing twelve months is around 1.01%, less than SWVXX's 3.77% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
SWVXX
Schwab Prime Advantage Money Fund Investor Shares		3.77%4.06%5.02%4.91%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

SWPPX and SWVXX have a correlation of -0.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SWPPX has higher volatility (4.73%) compared to SWVXX (0.29%). In terms of maximum drawdown, SWPPX dropped -55.06% vs SWVXX's 0.00%.

SWVXX currently has the higher Sharpe Ratio (3.71 vs 2.14), 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.

Portfolio Optimizer

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Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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