SWTSX vs. ITOT

Last updated Jun 24, 2026

SWTSX (Schwab Total Stock Market Index Fund) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds - SWTSX tracks the Dow Jones U.S. Total Stock Market Index while ITOT tracks the S&P Total Market Index. Both are passively managed. Over the past 10 years, SWTSX returned 15.24%/yr vs 15.11%/yr for ITOT. With a 0.98 correlation, they move nearly in lockstep. Both charge a 0.03% expense ratio.

Performance

SWTSX vs. ITOT - Performance Comparison

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

Returns By Period

In the year-to-date period, SWTSX achieves a 10.37% return, which is significantly higher than ITOT's 8.94% return. Both investments have delivered pretty close results over the past 10 years, with SWTSX having a 15.24% annualized return and ITOT not far behind at 15.11%.

SWTSX

• 1D: -0.33%
• 1M: 0.56%
• YTD: 10.37%
• 6M: 9.24%
• 1Y: 25.87%
• 3Y*: 21.18%
• 5Y*: 12.36%
• 10Y*: 15.24%

ITOT

• 1D: -1.30%
• 1M: -0.81%
• YTD: 8.94%
• 6M: 7.85%
• 1Y: 24.26%
• 3Y*: 20.67%
• 5Y*: 11.93%
• 10Y*: 15.11%

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

SWTSX vs. ITOT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWTSX Schwab Total Stock Market Index Fund	10.37%	17.04%	23.84%	26.05%	-19.54%	25.65%	20.71%	30.90%	-5.35%	21.08%
ITOT iShares Core S&P Total U.S. Stock Market ETF	8.94%	17.00%	23.80%	26.12%	-19.47%	25.68%	20.71%	30.67%	-5.33%	21.37%

Correlation

The correlation between SWTSX and ITOT is 0.99 - 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	0.99
Correlation (5Y) Calculated over the trailing 5-year period	1.00
Correlation (10Y) Calculated over the trailing 10-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 23, 2004	0.99

The correlation between SWTSX and ITOT has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

SWTSX vs. ITOT - Sectors Allocation Comparison

Sectors	SWTSX	ITOT
Technology	37.2%	37.2%
Financial Services	11.4%	11.4%
Consumer Cyclical	9.8%	9.8%
Communication Services	9.8%	9.8%
Industrials	9.1%	9.1%
Healthcare	8.8%	8.8%
Consumer Defensive	4.3%	4.3%
Energy	3.3%	3.3%
Real Estate	2.3%	2.3%
Utilities	2.1%	2.1%
Basic Materials	2.0%	2.0%

Return for Risk

SWTSX vs. ITOT — Risk / Return Rank

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

SWTSX

SWTSX Risk / Return Rank: 64
SWTSX Sharpe Ratio Rank: 61
SWTSX Sortino Ratio Rank: 55
SWTSX Omega Ratio Rank: 56
SWTSX Calmar Ratio Rank: 70
SWTSX Martin Ratio Rank: 78

ITOT

ITOT Risk / Return Rank: 59
ITOT Sharpe Ratio Rank: 59
ITOT Sortino Ratio Rank: 56
ITOT Omega Ratio Rank: 57
ITOT Calmar Ratio Rank: 57
ITOT Martin Ratio Rank: 68

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.

SWTSX vs. ITOT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Total Stock Market Index Fund (SWTSX) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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.

	SWTSX	ITOT	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.90	+0.21
Sortino ratio: Return per unit of downside risk	2.86	2.59	+0.27
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	3.06	2.74	+0.32
Martin ratio: Return relative to average drawdown	13.62	12.14	+1.48

SWTSX vs. ITOT - Sharpe Ratio Comparison

The current SWTSX Sharpe Ratio is 2.11, which is comparable to the ITOT Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of SWTSX and ITOT, 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

SWTSX vs. ITOT - Drawdown Comparison

The maximum SWTSX drawdown since its inception was -54.60%, roughly equal to the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for SWTSX and ITOT.

Drawdown Indicators

	SWTSX	ITOT	Difference
Max Drawdown Largest peak-to-trough decline	-54.60%	-55.20%	+0.60%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-8.90%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-19.43%	-19.44%	+0.01%
Max Drawdown (5Y) Largest decline over 5 years	-25.40%	-25.36%	-0.04%
Max Drawdown (10Y) Largest decline over 10 years	-35.01%	-35.00%	-0.01%
Current Drawdown Current decline from peak	-1.47%	-2.79%	+1.32%
Average Drawdown Average peak-to-trough decline	-10.55%	-6.96%	-3.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.99%	2.00%	-0.01%

Volatility

SWTSX vs. ITOT - Volatility Comparison

Schwab Total Stock Market Index Fund (SWTSX) and iShares Core S&P Total U.S. Stock Market ETF (ITOT) have volatilities of 4.76% and 4.96%, 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.

Volatility by Period

	SWTSX	ITOT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.76%	4.96%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	10.06%	10.06%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	12.89%	12.85%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	17.46%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.65%	18.28%	+0.37%

SWTSX vs. ITOT - Expense Ratio Comparison

Both SWTSX and ITOT have an expense ratio of 0.03%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

SWTSX vs. ITOT - Dividend Comparison

SWTSX's dividend yield for the trailing twelve months is around 1.00%, less than ITOT's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITOT iShares Core S&P Total U.S. Stock Market ETF	1.02%	1.11%	1.23%	1.47%	1.66%	1.18%	1.41%	1.88%	2.14%	1.69%	1.83%	2.01%
SWTSX Schwab Total Stock Market Index Fund	1.00%	1.10%	1.24%	1.41%	1.62%	1.46%	1.63%	1.92%	2.58%	1.83%	2.32%	2.79%

Frequently Asked Questions

Can I hold both SWTSX and ITOT in my portfolio?

With a correlation of 0.99, SWTSX and ITOT 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.

Which is riskier, SWTSX or ITOT?

ITOT has higher volatility (4.96%) compared to SWTSX (4.76%). In terms of maximum drawdown, SWTSX dropped -54.60% vs ITOT's -55.20%.

Which has better risk-adjusted returns?

SWTSX currently has the higher Sharpe Ratio (2.11 vs 1.90), 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.