SWPPX vs. USRT

Last updated Jun 13, 2026

SWPPX (Schwab S&P 500 Index Fund) and USRT (iShares Core U.S. REIT ETF) are both funds - SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index, while USRT is a REIT fund tracking the FTSE NAREIT Equity REITs Index. Both are passively managed. Over the past 10 years, SWPPX returned 15.41%/yr vs 6.67%/yr for USRT. A 0.61 correlation means they provide meaningful diversification when combined. SWPPX charges 0.02%/yr vs 0.08%/yr for USRT.

Performance

SWPPX vs. USRT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab S&P 500 Index Fund (SWPPX) and iShares Core U.S. REIT ETF (USRT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWPPX achieves a 8.55% return, which is significantly lower than USRT's 17.79% return. Over the past 10 years, SWPPX has outperformed USRT with an annualized return of 15.41%, while USRT has yielded a comparatively lower 6.67% annualized return.

SWPPX

• 1D: 1.76%
• 1M: -0.57%
• YTD: 8.55%
• 6M: 8.92%
• 1Y: 23.75%
• 3Y*: 21.04%
• 5Y*: 13.31%
• 10Y*: 15.41%

USRT

• 1D: 0.94%
• 1M: 3.13%
• YTD: 17.79%
• 6M: 17.95%
• 1Y: 19.33%
• 3Y*: 12.69%
• 5Y*: 5.06%
• 10Y*: 6.67%

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

SWPPX vs. USRT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWPPX Schwab S&P 500 Index Fund	8.55%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%
USRT iShares Core U.S. REIT ETF	17.79%	2.44%	8.58%	13.64%	-24.43%	43.26%	-8.06%	25.98%	-4.67%	5.27%

Correlation

The correlation between SWPPX and USRT is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.59
Correlation (10Y) Calculated over the trailing 10-year period	0.55
Correlation (All Time) Calculated using the full available price history since May 4, 2007	0.61

Over the past year, the correlation between SWPPX and USRT has dropped to 0.30 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

SWPPX vs. USRT - Sectors Allocation Comparison

Sectors	SWPPX	USRT
Technology	35.6%	-
Financial Services	11.8%	0.1%
Communication Services	11.2%	-
Consumer Cyclical	10.1%	-
Healthcare	8.5%	-
Industrials	8.3%	-
Consumer Defensive	4.9%	-
Energy	3.5%	-
Utilities	2.4%	-
Real Estate	1.9%	99.4%
Basic Materials	1.8%	-

Return for Risk

SWPPX vs. USRT — Risk / Return Rank

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

SWPPX

SWPPX Risk / Return Rank: 73
SWPPX Sharpe Ratio Rank: 72
SWPPX Sortino Ratio Rank: 67
SWPPX Omega Ratio Rank: 68
SWPPX Calmar Ratio Rank: 73
SWPPX Martin Ratio Rank: 83

USRT

USRT Risk / Return Rank: 48
USRT Sharpe Ratio Rank: 47
USRT Sortino Ratio Rank: 44
USRT Omega Ratio Rank: 44
USRT Calmar Ratio Rank: 55
USRT Martin Ratio Rank: 52

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. USRT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab S&P 500 Index Fund (SWPPX) and iShares Core U.S. REIT ETF (USRT). 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	USRT	Difference
Sharpe ratio: Return per unit of total volatility	1.96	1.43	+0.53
Sortino ratio: Return per unit of downside risk	2.66	2.00	+0.66
Omega ratio: Gain probability vs. loss probability	1.36	1.25	+0.10
Calmar ratio: Return relative to maximum drawdown	2.74	2.42	+0.32
Martin ratio: Return relative to average drawdown	12.42	7.79	+4.62

SWPPX vs. USRT - Sharpe Ratio Comparison

The current SWPPX Sharpe Ratio is 1.96, which is higher than the USRT Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of SWPPX and USRT, 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

SWPPX vs. USRT - Drawdown Comparison

The maximum SWPPX drawdown since its inception was -55.06%, smaller than the maximum USRT drawdown of -69.92%. Use the drawdown chart below to compare losses from any high point for SWPPX and USRT.

Drawdown Indicators

	SWPPX	USRT	Difference
Max Drawdown Largest peak-to-trough decline	-55.06%	-69.92%	+14.86%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-8.04%	-0.85%
Max Drawdown (3Y) Largest decline over 3 years	-18.74%	-18.70%	-0.04%
Max Drawdown (5Y) Largest decline over 5 years	-24.51%	-31.03%	+6.52%
Max Drawdown (10Y) Largest decline over 10 years	-33.80%	-44.38%	+10.58%
Current Drawdown Current decline from peak	-2.81%	0.00%	-2.81%
Average Drawdown Average peak-to-trough decline	-9.94%	-12.96%	+3.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	2.49%	-0.53%

Volatility

SWPPX vs. USRT - Volatility Comparison

The current volatility for Schwab S&P 500 Index Fund (SWPPX) is 4.47%, while iShares Core U.S. REIT ETF (USRT) has a volatility of 4.71%. This indicates that SWPPX experiences smaller price fluctuations and is considered to be less risky than USRT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWPPX	USRT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.47%	4.71%	-0.24%
Volatility (6M) Calculated over the trailing 6-month period	9.73%	9.64%	+0.09%
Volatility (1Y) Calculated over the trailing 1-year period	12.40%	13.57%	-1.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.01%	18.92%	-1.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.26%	21.30%	-3.04%

SWPPX vs. USRT - Expense Ratio Comparison

SWPPX has a 0.02% expense ratio, which is lower than USRT's 0.08% 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

SWPPX vs. USRT - Dividend Comparison

SWPPX's dividend yield for the trailing twelve months is around 1.02%, less than USRT's 2.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWPPX Schwab S&P 500 Index Fund	1.02%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%
USRT iShares Core U.S. REIT ETF	2.56%	3.07%	2.85%	3.18%	3.46%	2.27%	3.12%	3.34%	5.66%	3.44%	3.98%	3.59%

Frequently Asked Questions

Can I hold both SWPPX and USRT in my portfolio?

SWPPX and USRT have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWPPX or USRT?

USRT has higher volatility (4.71%) compared to SWPPX (4.47%). In terms of maximum drawdown, SWPPX dropped -55.06% vs USRT's -69.92%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (1.96 vs 1.43), 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.