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Security Comparison

SWPPX vs SCHG: Same Shop, Different Job and Wrapper

A head-to-head of Schwab's S&P 500 Index Fund and U.S. Large-Cap Growth ETF covering trading, cost, and what each is for.

Updated October 9, 2026

How these figures are calculated: methodology.

Best for

  • SCHGInvestors who want a growth tilt and can accept bigger swings for higher upside.
  • SWPPXInvestors who want higher current income (0.97% vs 0.40% for SCHG).

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

100% reinvested · ex-date convention. Period returns use this fixed assumption, independent of chart settings. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year.

SCHG has lagged SWPPX over the trailing twelve months, posting a 13.46% total return against 16.98%. The picture flips over 10 years, though — SCHG has compounded at 18.97% a year, ahead of SWPPX at 15.56%. SWPPX has been the steadier holding, though — annualized volatility of 15.0% against 19.3% for SCHG. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD cumulative1Y cumulative3Y annualized5Y annualized10Y annualizedSince Dec 2009Volatility Sharpe Sortino Max drawdown
SCHG13.42%13.46%25.83%14.88%18.97%16.67%19.3%0.961.38-23.4%
SWPPX14.91%16.98%23.24%13.78%15.56%14.33%15.0%1.101.60-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 9, 2026. YTD and 1Y are cumulative period returns; 3Y, 5Y, and 10Y are annualized. The shared Since-start window is annualized only when it covers at least one year. “Since Dec 2009” measures every fund from December 11, 2009 — the start of shared available history — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the trailing 3 years. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the trailing 3 years) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricSCHGSWPPX
Full nameSchwab U.S. Large-Cap Growth ETFSchwab S&P 500 Index Fund
IssuerSchwabSchwab
Last Close$36.74 as of October 9, 2026$20.19 as of October 9, 2026
Distribution rate0.40%0.97%
Trailing 12-month yield0.38%0.96%
Distribution Safety Score™ 10079
Safety-Adjusted Yield 0.40%0.77%
Expense ratio0.04%0.02%
AUM$64.7B$149B
Distribution frequencyQuarterlyAnnual
Underlying indexDow Jones U.S. Large-Cap Growth Total Stock Market Index—
ObjectiveSeeks to track the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, holding the components ranked 1-750 by full market capitalization that are classified as growth.—
Asset classEquityEquity
Inception date12/11/200905/19/1997
Beta1.221.0
Last dividend$0.037$0.1946
Ex-dividend date09/23/202612/12/2025

Bottom lineChoose SCHG if you want a growth tilt and can accept bigger swings for higher upside. Choose SWPPX if you want higher current income (0.97% vs 0.40% for SCHG).

SCHG vs SWPPX: growth ETF or S&P 500 fund?

Same issuer, different job and wrapper. SCHG is large-cap growth. SWPPX is Schwab's S&P 500 index mutual fund.

SCHGSWPPX
VehicleETFIndex mutual fund
What it ownsUS large-cap growthS&P 500
TradingIntraday at a market priceEnd-of-day net asset value
Expense ratio0.04%0.02%
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Schwab
ETFs33
Total AUM$609B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Schwab is a major provider of low-cost, broad-based ETFs known for making investing accessible to individual investors through its discount brokerage platform. The issuer's fund lineup spans multiple categories including core index funds, dividend and income-focused strategies, factor-based approaches, international exposure, fixed income, and digital assets, with popular core holdings like SCHB (U.S. broad market) and SCHD (dividend appreciation) alongside more specialized thematic offerings. Schwab's ETF suite is characterized by its breadth across asset classes and investment styles, competitive expense ratios, and integration with its retail brokerage ecosystem.

See our curated list of related YouTube videos on SCHG.

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Quick verdict

SCHG (Schwab U.S. Large-Cap Growth ETF) is an ETF, while SWPPX (Schwab S&P 500 Index Fund) is a mutual fund — their trading structures differ.

SWPPX offers the higher yield at 0.97% vs 0.40% for SCHG. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

SWPPX is cheaper with an expense ratio of 0.02% compared to 0.04%.

SWPPX is the larger fund by assets ($149B), but assets alone do not establish trading costs or liquidity.

Deep dive

Yield & income

On a $10,000 investment, SCHG would generate roughly $10.00 cash per distribution, while SWPPX would produce $97.00 cash per distribution, at current distribution rates.

SCHG yield0.40%
SWPPX yield0.97%
Cash diff on $10K$87.00

Cost & efficiency

Over 10 years on $10,000, SCHG would cost approximately $40 in fees vs $20 for SWPPX (simplified, not compounded). The $20.00 difference may be offset by yield or performance.

SCHG ER0.04%
SWPPX ER0.02%

Strategy & risk

SCHG tracks Dow Jones U.S. Large-Cap Growth Total Stock Market Index. SWPPX is a mutual fund whose tracked index or strategy detail is not recorded in our data, so this comparison rests on the measured figures — yield, fees, size, and performance — rather than strategy labels. Beta is 1.22 for SCHG and 1.0 for SWPPX, making SWPPX the less volatile of the two by this measure.

SCHG beta1.22
SWPPX beta1.0

Fund details

SCHG is managed by Schwab (launched 12/11/2009) with $64.7B in assets. SWPPX is managed by Schwab (launched 05/19/1997) with $149B in assets.

SCHG AUM$64.7B
SWPPX AUM$149B
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Frequently asked questions

What is the difference between SWPPX and SCHG?

Same shop, different job and wrapper. SWPPX (Schwab S&P 500 Index Fund) is a Schwab S&P 500 index mutual fund that transacts at end-of-day net asset value. SCHG (Schwab U.S. Large-Cap Growth ETF) is a large-cap growth ETF that trades all day. Cost is 0.02% versus 0.04%; distributions are 0.97% and 0.40% as of October 2026. SWPPX is a mutual fund, not an exchange-traded fund. Account fit and style are the decision.

What is the current distribution rate for SCHG and SWPPX?

SCHG currently distributes 0.40% and SWPPX 0.97%, based on fund data updated October 2026. Distribution rate moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SCHG or SWPPX better for dividend income?

It depends on your goals. SWPPX currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

Can I hold both SCHG and SWPPX?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is SCHG or SWPPX safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — SCHG scores 100, SWPPX scores 79, so SCHG's payout currently looks the more resilient of the two. SWPPX has also shown lower price volatility (beta 1.00 vs 1.22 for SCHG). No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SCHG or SWPPX?

SCHG has an expense ratio of 0.04% while SWPPX charges 0.02%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in SCHG vs SWPPX generate?

At current rates, $10,000 in SCHG would generate roughly $10.00 cash per distribution ($40.00 annually). The same in SWPPX would produce about $97.00 cash per distribution ($97.00 annually).

Which has performed better historically, SCHG or SWPPX?

SCHG has lagged SWPPX over the trailing twelve months, posting a 13.46% total return against 16.98%. The picture flips over 10 years, though — SCHG has compounded at 18.97% a year, ahead of SWPPX at 15.56%. SWPPX has been the steadier holding, though — annualized volatility of 15.0% against 19.3% for SCHG. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SCHG vs SWPPX — at a glance

Generated October 10, 2026.

Both are Schwab products with minimal fees, but they differ in structure, index composition, and growth tilt.

How they differ

SCHG holds only stocks classified as growth and has a 1.22 beta, meaning it tends to move more than the broad market during rallies and declines. SWPPX tracks the full S&P 500 with a 1.0 beta, capturing the full mix of growth and value in the index. SCHG's expense ratio of 0.04% matches SWPPX's 0.02%, but SWPPX has a larger asset base at $149B versus $64.7B. The key tradeoff is sector and style: SCHG overweights growth companies, while SWPPX holds a market-cap-weighted slice of all large-cap stocks.

Who each is best for

SCHG: Fits investors who believe large-cap growth will outpace the broader market and are comfortable with higher volatility to pursue that conviction; also suits those who prefer quarterly dividend payouts and the ETF structure with intraday trading.

SWPPX: Designed for investors seeking a simple, low-cost core holding that mirrors the S&P 500's diversification across sectors and styles, with less growth tilt and lower volatility than a pure-growth fund.

Key risks to know

  • Growth concentration and style risk. SCHG's 1.22 beta and growth-only mandate mean it will amplify downturns when growth stocks underperform, as occurred in 2022 and 2024. SWPPX's 1.0 beta cushions this by holding value and defensive names.
  • Valuation sensitivity. A large-cap growth portfolio like SCHG tends to expand or contract more sharply on interest-rate and earnings-growth shifts than a diversified index fund; higher valuations in growth stocks magnify that sensitivity.
  • Index overlap. Both funds hold many of the same top holdings (technology and growth leaders), so their returns may move in tandem despite the growth vs. broad-market split.

Bottom line

If you want pure large-cap growth exposure and can tolerate higher volatility in exchange for the potential upside during growth-favoring periods, SCHG's growth tilt and ETF trading flexibility stand out. If you prefer a simpler, steadier core holding that owns the full S&P 500 with less style drift, SWPPX's broader index and lower beta fit that approach. Past performance of either index does not guarantee future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

Dividend growth vs. high yield Yield on cost, explained How expense ratios eat returns

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These comparisons follow the Dividend Vision methodology.