SWPPX vs. USSPX
SWPPX (Schwab S&P 500 Index Fund) and USSPX (USAA 500 Index Fund) are both Large Cap Blend Equities funds. Over the past 10 years, SWPPX returned 15.63%/yr vs 15.58%/yr for USSPX. With a 0.99 correlation, they move nearly in lockstep. SWPPX charges 0.02%/yr vs 0.24%/yr for USSPX.
Performance
SWPPX vs. USSPX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with SWPPX having a 11.69% return and USSPX slightly higher at 11.92%. Both investments have delivered pretty close results over the past 10 years, with SWPPX having a 15.63% annualized return and USSPX not far behind at 15.58%.
SWPPX
- 1D
- 0.15%
- 1M
- 5.83%
- YTD
- 11.69%
- 6M
- 11.71%
- 1Y
- 28.97%
- 3Y*
- 22.73%
- 5Y*
- 14.26%
- 10Y*
- 15.63%
USSPX
- 1D
- 0.20%
- 1M
- 5.97%
- YTD
- 11.92%
- 6M
- 11.78%
- 1Y
- 28.83%
- 3Y*
- 22.87%
- 5Y*
- 14.05%
- 10Y*
- 15.58%
SWPPX vs. USSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWPPX Schwab S&P 500 Index Fund | 11.69% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
USSPX USAA 500 Index Fund | 11.92% | 17.63% | 25.04% | 26.99% | -19.37% | 27.45% | 21.21% | 31.19% | -4.66% | 21.19% |
Correlation
The correlation between SWPPX and USSPX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since May 21, 1997 | 0.99 |
The correlation between SWPPX and USSPX has been stable across timeframes, ranging from 0.98 to 1.00 - a consistent structural relationship.
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Return for Risk
SWPPX vs. USSPX — Risk / Return Rank
SWPPX
USSPX
SWPPX vs. USSPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab S&P 500 Index Fund (SWPPX) and USAA 500 Index Fund (USSPX). 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.
| SWPPX | USSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.45 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 3.36 | 3.33 | +0.03 |
| Martin ratioReturn relative to average drawdown | 15.67 | 15.45 | +0.23 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWPPX | USSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.52 | 2.49 | +0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.85 | 0.81 | +0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | 0.85 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.54 | -0.03 |
Drawdowns
SWPPX vs. USSPX - Drawdown Comparison
The maximum SWPPX drawdown since its inception was -55.06%, roughly equal to the maximum USSPX drawdown of -55.39%. Use the drawdown chart below to compare losses from any high point for SWPPX and USSPX.
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Drawdown Indicators
| SWPPX | USSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.06% | -55.39% | +0.33% |
Max Drawdown (1Y)Largest decline over 1 year | -8.89% | -8.92% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -18.74% | -19.64% | +0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -26.88% | +2.37% |
Max Drawdown (10Y)Largest decline over 10 years | -33.80% | -33.64% | -0.16% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -9.95% | -10.13% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.90% | 1.92% | -0.02% |
Volatility
SWPPX vs. USSPX - Volatility Comparison
Schwab S&P 500 Index Fund (SWPPX) and USAA 500 Index Fund (USSPX) have volatilities of 2.83% and 2.82%, 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 | USSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.83% | 2.82% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 8.98% | 9.04% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.87% | 11.95% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.93% | 17.49% | -0.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.36% | -0.13% |
SWPPX vs. USSPX - Expense Ratio Comparison
SWPPX has a 0.02% expense ratio, which is lower than USSPX's 0.24% 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. USSPX - Dividend Comparison
SWPPX's dividend yield for the trailing twelve months is around 0.99%, less than USSPX's 3.71% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWPPX Schwab S&P 500 Index Fund | 0.99% | 1.11% | 1.23% | 1.43% | 1.67% | 1.27% | 1.81% | 1.95% | 2.67% | 1.79% | 2.55% | 3.17% |
USSPX USAA 500 Index Fund | 3.71% | 4.14% | 3.63% | 2.07% | 2.81% | 4.98% | 3.38% | 4.98% | 3.03% | 1.34% | 2.34% | 1.89% |
Frequently Asked Questions
With a correlation of 1.00, SWPPX and USSPX 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 (2.83%) compared to USSPX (2.82%). In terms of maximum drawdown, SWPPX dropped -55.06% vs USSPX's -55.39%.
SWPPX currently has the higher Sharpe Ratio (2.52 vs 2.49), 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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