SPY vs SWTSX
State Street SPDR S&P 500 ETF Trust vs Schwab Total Stock Market Index Fund
Quick Verdict
SWTSX has a lower expense ratio. SWTSX delivered stronger 1-year returns. SWTSX offers more diversification with 2,987 holdings.
Side-by-Side Comparison
| Metric | SPY | SWTSX | Winner |
|---|---|---|---|
| Expense Ratio | 0.09% | 0.03% | |
| AUM | $821.1B | $46.0B | |
| Dividend Yield | 1.01% | 1.00% | |
| Holdings | 505 | 2,987 | |
| YTD Return | +12.35% | +13.14% | |
| 1Y Return | +20.15% | +20.86% | |
| 3Y Return (annualized) | +21.69% | -37.13% | |
| 5Y Return (annualized) | +12.77% | -25.29% | |
| Volatility (annualized) | 15.3% | 41.7% | |
| Max Drawdown | -56.5% | -86.0% | |
| Fund Family | State Street Investment Management | Charles Schwab Asset Management | |
| Category | Equity | Equity | |
| Inception | Jan 22, 1993 | Jun 1, 1999 |
SPY vs SWTSX Performance
State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management and Schwab Total Stock Market Index Fund (SWTSX) is a mutual fund from Charles Schwab Asset Management. Over the past year SPY returned +20.15% while SWTSX returned +20.86%. Year to date, SPY is up 12.35% versus a gain of 13.14% for SWTSX.
Over three years, SPY compounded at +21.69% per year against -37.13% for SWTSX; over five years the annualized figures are +12.77% and -25.29% respectively. Across the full 5-year window we track, SPY has the edge at +8.79% annualized vs -25.29%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SWTSX has been the more volatile fund, with annualized monthly volatility of 41.7% compared with 15.3% for SPY. 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 -56.5% for SPY and -86.0% for SWTSX. 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
SPY charges 0.09% per year while SWTSX charges 0.03%. On a $10,000 position that is $9 vs $3 annually, a gap of $6 per year that compounds over a long holding period. On income, SPY currently yields 1.01% against 1.00% for SWTSX.
Holdings Overlap
SPY and SWTSX share 491 holdings out of 2973 unique holdings combined, representing a 82.0% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, SPY or SWTSX?
SPY has an expense ratio of 0.09% while SWTSX charges 0.03%. SWTSX is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, SPY or SWTSX?
Over the past year SPY returned +20.15% vs +20.86% for SWTSX, so SWTSX leads on 1-year performance. Over the longest common window we track (5 years), SPY annualized +8.79% vs -25.29% for SWTSX. Past performance does not guarantee future results.
Which is riskier, SPY or SWTSX?
SWTSX has been the more volatile fund at 41.7% annualized versus 15.3% for SPY. Worst drawdown: SPY -56.5% vs SWTSX -86.0%.
Should I hold both SPY and SWTSX?
SPY and SWTSX 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 SPY and SWTSX?
SPY and SWTSX share 491 common holdings with a 82.0% weight overlap. Combined, they hold 2973 unique securities.
Which pays a higher dividend, SPY or SWTSX?
SPY yields 1.01% while SWTSX yields 1.00%, so SPY currently pays the higher dividend yield.
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