FXAIX vs SWPPX
Fidelity 500 Index Fund vs Schwab S&P 500 Index Fund
Quick Verdict
SWPPX delivered stronger 1-year returns. FXAIX offers more diversification with 1,009 holdings.
Side-by-Side Comparison
| Metric | FXAIX | SWPPX | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.02% | |
| AUM | $594.0B | $150.5B | |
| Dividend Yield | 1.06% | 1.01% | |
| Holdings | 1,009 | 503 | |
| YTD Return | +12.08% | +12.69% | |
| 1Y Return | +20.50% | +20.51% | |
| 3Y Return (annualized) | +20.53% | -33.69% | |
| 5Y Return (annualized) | +11.33% | -22.22% | |
| Volatility (annualized) | 15.6% | 40.5% | |
| Max Drawdown | -25.4% | -83.7% | |
| Fund Family | Fidelity Investments (US) | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | May 4, 2011 | May 19, 1997 |
FXAIX vs SWPPX Performance
Fidelity 500 Index Fund (FXAIX) is a mutual fund from Fidelity Investments (US) and Schwab S&P 500 Index Fund (SWPPX) is a mutual fund from Charles Schwab Asset Management. Over the past year FXAIX returned +20.50% while SWPPX returned +20.51%. Year to date, FXAIX is up 12.08% versus a gain of 12.69% for SWPPX.
Over three years, FXAIX compounded at +20.53% per year against -33.69% for SWPPX; over five years the annualized figures are +11.33% and -22.22% respectively. Across the full 5-year window we track, FXAIX has the edge at +11.33% annualized vs -22.22%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SWPPX has been the more volatile fund, with annualized monthly volatility of 40.5% compared with 15.6% for FXAIX. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -25.4% for FXAIX and -83.7% for SWPPX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.34. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
FXAIX charges 0.02% per year while SWPPX charges 0.02%. On a $10,000 position that is $2 vs $2 annually. On income, FXAIX currently yields 1.06% against 1.01% for SWPPX.
Holdings Overlap
FXAIX and SWPPX share 492 holdings out of 514 unique holdings combined, representing a 90.4% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, FXAIX or SWPPX?
FXAIX has an expense ratio of 0.02% while SWPPX charges 0.02%. They cost the same. On a $10,000 investment, that is $0 per year of difference.
Which performed better, FXAIX or SWPPX?
Over the past year FXAIX returned +20.50% vs +20.51% for SWPPX, so SWPPX leads on 1-year performance. Over the longest common window we track (5 years), FXAIX annualized +11.33% vs -22.22% for SWPPX. Past performance does not guarantee future results.
Which is riskier, FXAIX or SWPPX?
SWPPX has been the more volatile fund at 40.5% annualized versus 15.6% for FXAIX. Worst drawdown: FXAIX -25.4% vs SWPPX -83.7%.
Should I hold both FXAIX and SWPPX?
FXAIX and SWPPX have a monthly-return correlation of 0.34, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between FXAIX and SWPPX?
FXAIX and SWPPX share 492 common holdings with a 90.4% weight overlap. Combined, they hold 514 unique securities.
Which pays a higher dividend, FXAIX or SWPPX?
FXAIX yields 1.06% while SWPPX yields 1.01%, so FXAIX currently pays the higher dividend yield.
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