XSPI vs. SWPPX

Last updated Jul 4, 2026

XSPI (NEOS Boosted S&P 500 High Income ETF) and SWPPX (Schwab S&P 500 Index Fund) are both funds - XSPI is a Derivative Income fund tracking the S&P 500, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Both are passively managed. With a 0.98 correlation, they move nearly in lockstep. XSPI charges 0.98%/yr vs 0.02%/yr for SWPPX.

Performance

XSPI vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NEOS Boosted S&P 500 High Income ETF (XSPI) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

XSPI

• 1D: 0.11%
• 1M: -0.62%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SWPPX

• 1D: 0.00%
• 1M: -0.82%
• 6M: 9.73%
• YTD: 9.92%
• 1Y: 20.53%
• 3Y*: 20.44%
• 5Y*: 13.03%
• 10Y*: 15.41%

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

XSPI vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)
XSPI NEOS Boosted S&P 500 High Income ETF	6.32%
SWPPX Schwab S&P 500 Index Fund	7.77%

Correlation

The correlation between XSPI and SWPPX is 0.98 - 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 (All Time) Calculated using the full available price history since Feb 3, 2026	0.98

Return for Risk

XSPI vs. SWPPX — Risk / Return Rank

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

XSPI

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

SWPPX

SWPPX Risk / Return Rank: 60
SWPPX Sharpe Ratio Rank: 57
SWPPX Sortino Ratio Rank: 53
SWPPX Omega Ratio Rank: 55
SWPPX Calmar Ratio Rank: 61
SWPPX Martin Ratio Rank: 72

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.

XSPI vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NEOS Boosted S&P 500 High Income ETF (XSPI) 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.

	XSPI	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	—	1.73	—
Sortino ratio: Return per unit of downside risk	—	2.37	—
Omega ratio: Gain probability vs. loss probability	—	1.31	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	10.69	—

Drawdowns

XSPI vs. SWPPX - Drawdown Comparison

The maximum XSPI drawdown since its inception was -11.78%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for XSPI and SWPPX.

Drawdown Indicators

	XSPI	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-11.78%	-55.06%	+43.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.89%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.74%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-1.50%	-1.58%	+0.08%
Average Drawdown Average peak-to-trough decline	-2.44%	-9.92%	+7.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.02%	—

Volatility

Volatility by Period

	XSPI	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.03%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.98%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.41%	12.56%	+5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.41%	17.04%	+1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.41%	18.21%	+0.20%

XSPI vs. SWPPX - Expense Ratio Comparison

XSPI has a 0.98% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

XSPI vs. SWPPX - Dividend Comparison

XSPI's dividend yield for the trailing twelve months is around 6.88%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
XSPI NEOS Boosted S&P 500 High Income ETF	6.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both XSPI and SWPPX in my portfolio?

With a correlation of 0.98, XSPI and SWPPX 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.