USRT vs. SWPPX

Last updated Jun 13, 2026

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

Performance

USRT vs. SWPPX - Performance Comparison

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

Returns By Period

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

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%

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%

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

USRT vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
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%

Correlation

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

USRT vs. SWPPX - Sectors Allocation Comparison

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

Return for Risk

USRT vs. SWPPX — Risk / Return Rank

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

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

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

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.

USRT vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core U.S. REIT ETF (USRT) and Schwab S&P 500 Index Fund (SWPPX). 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.

	USRT	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.96	-0.53
Sortino ratio: Return per unit of downside risk	2.00	2.66	-0.66
Omega ratio: Gain probability vs. loss probability	1.25	1.36	-0.10
Calmar ratio: Return relative to maximum drawdown	2.42	2.74	-0.32
Martin ratio: Return relative to average drawdown	7.79	12.42	-4.62

USRT vs. SWPPX - Sharpe Ratio Comparison

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

USRT vs. SWPPX - Drawdown Comparison

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

Drawdown Indicators

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

Volatility

USRT vs. SWPPX - Volatility Comparison

iShares Core U.S. REIT ETF (USRT) has a higher volatility of 4.71% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.47%. This indicates that USRT's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

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

USRT vs. SWPPX - Expense Ratio Comparison

USRT has a 0.08% expense ratio, which is higher than SWPPX's 0.02% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

USRT vs. SWPPX - Dividend Comparison

USRT's dividend yield for the trailing twelve months is around 2.56%, more than SWPPX's 1.02% 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 USRT and SWPPX in my portfolio?

USRT and SWPPX 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, USRT or SWPPX?

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

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.