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Dividend Vision

Security Comparison

VOO vs SWPPX: Same Index, Different Wrapper

A head-to-head of Vanguard's S&P 500 ETF and the Schwab S&P 500 Index Fund covering expense, trading mechanics, and account fit — not a choice between two different markets.

Data updated September 4, 2026

Best for

  • SWPPXInvestors who want broad equity exposure.
  • VOOInvestors who want simple, diversified core exposure in one low-cost fund.

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Visual comparison

Key metrics

Projected income on $10K

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

Total returns

SWPPX has lagged VOO over the trailing twelve months, posting a 20.89% total return against 21.07%. The lead holds up over 10 years too: VOO has compounded at 15.32% a year, against 15.30% for SWPPX. 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.
SymbolYTD1Y3Y5Y10YSince Sep 2010Volatility Sharpe Sortino Max drawdown
SWPPX12.64%20.89%21.06%12.69%15.30%14.91%15.1%0.981.41-18.7%
VOO13.37%21.07%21.29%12.77%15.32%14.99%14.9%1.001.44-18.7%

Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of September 4, 2026. YTD and 1Y are cumulative; windows of one year or longer are annualized. “Since Sep 2010” measures every fund from September 9, 2010 — the youngest fund's first trading day — 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.
MetricSWPPXVOO
Full nameSchwab S&P 500 Index FundVanguard S&P 500 ETF
IssuerSchwabVanguard
Last Close$19.79 as of September 2, 2026$708.01 as of September 4, 2026
Distribution yield1.01%1.11%
Distribution Safety Score™ 96100
Safety-Adjusted Yield 0.97%1.11%
Expense ratio0.59%0.03%
AUM$144B$1041B
Distribution frequencyAnnualQuarterly
Underlying index—S&P 500 Index
Objective—Track the performance of the S&P 500 Index, representing 500 of the largest U.S. companies.
Asset classEquityEquity
Inception date05/19/199709/07/2010
Beta1.01.0
Last dividend$0.1946$1.9622
Ex-dividend date12/12/202506/26/2026

Bottom lineChoose SWPPX if you want broad equity exposure. Choose VOO if you want simple, diversified core exposure in one low-cost fund.

VOO vs SWPPX: same index, different wrapper

Both track the S&P 500. SWPPX is Schwab's index mutual fund. VOO is Vanguard's ETF. The stocks inside should match; the decision is how you trade, where you hold the account, and the fee.

SWPPXVOO
IndexS&P 500S&P 500
VehicleSchwab mutual fundExchange-traded fund
How you buy itEnd-of-day net asset value, typically at SchwabIntraday at any broker
Expense ratio0.59%0.03%
Distribution yield1.01%1.11%
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Vanguard
ETFs116
Total AUM$4650B

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

Vanguard is one of the largest and most established ETF issuers, known for low-cost, broadly diversified fund offerings built on passive indexing principles. Their lineup spans multiple asset classes and strategies, including core equity and bond index funds, dividend-focused portfolios, ESG-screened options, factor-based strategies, sector exposure, target-date retirement funds, and international investments across developed and emerging markets. The platform is characterized by its emphasis on accessibility and cost efficiency across a comprehensive range of fund families, serving both individual investors seeking broad market exposure and those pursuing specific income, sustainability, or thematic objectives.

See our curated list of related YouTube videos on VOO.

See all Vanguard ETFs

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Quick verdict

SWPPX (Schwab S&P 500 Index Fund) is a mutual fund, while VOO (Vanguard S&P 500 ETF) is an ETF — they take fundamentally different approaches.

VOO offers the higher yield at 1.11% vs 1.01% for SWPPX. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

VOO is cheaper with an expense ratio of 0.03% compared to 0.59%.

VOO is the larger fund by assets ($1041B), which generally means tighter spreads and better liquidity.

Deep dive

Yield & income

On a $10,000 investment, SWPPX would generate roughly $8.42/month, while VOO would produce $9.25/month, at current distribution rates.

SWPPX yield1.01%
VOO yield1.11%
Monthly diff on $10K$0.83

Cost & efficiency

Over 10 years on $10,000, SWPPX would cost approximately $590 in fees vs $30 for VOO (simplified, not compounded). The $560.00 difference may be offset by yield or performance.

SWPPX ER0.59%
VOO ER0.03%

Strategy & risk

VOO tracks S&P 500 Index with a large cap approach. 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.

SWPPX beta1.0
VOO beta1.0

Fund details

SWPPX is managed by Schwab (launched 05/19/1997) with $144B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1041B in assets.

SWPPX AUM$144B
VOO AUM$1041B
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Frequently asked questions

Is VOO the same as SWPPX?

Same index, different wrapper. Both track the S&P 500, so the stocks inside should be nearly identical. VOO (Vanguard S&P 500 ETF) is an exchange-traded fund you can buy at any broker during market hours. SWPPX (Schwab S&P 500 Index Fund) is a Schwab mutual fund that transacts at end-of-day net asset value and is most convenient inside a Schwab account. Cost is 0.59% for SWPPX versus 0.03% for VOO, with distribution yields of 1.01% and 1.11% as of September 2026. The decision is trading flexibility, account location, and the fee — not a different stock market.

What is the current distribution yield for SWPPX and VOO?

SWPPX currently distributes 1.01% and VOO 1.11%, based on fund data updated September 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is SWPPX or VOO better for dividend income?

It depends on your goals. VOO 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 SWPPX and VOO?

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 SWPPX or VOO safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — VOO scores 100, SWPPX scores 96, so VOO's payout currently looks the more resilient of the two. No score makes an investment risk-free — treat this as a screening signal, not a guarantee.

Which has lower fees, SWPPX or VOO?

SWPPX has an expense ratio of 0.59% while VOO charges 0.03%. Lower fees mean more of your investment returns stay in your pocket over time.

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

At current rates, $10,000 in SWPPX would generate roughly $8.42 per month ($101.00 annually). The same in VOO would produce about $9.25 per month ($111.00 annually).

Which has performed better historically, SWPPX or VOO?

SWPPX has lagged VOO over the trailing twelve months, posting a 20.89% total return against 21.07%. The lead holds up over 10 years too: VOO has compounded at 15.32% a year, against 15.30% for SWPPX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

SWPPX vs VOO — at a glance

Generated August 29, 2026.

Overview

SWPPX and VOO both track the S&P 500 Index, giving investors exposure to 500 of the largest U.S. companies. Despite identical beta and underlying exposure, they differ sharply in cost, size, and tax efficiency.

How they differ

VOO's expense ratio of 0.03% is roughly 20 times lower than SWPPX's 0.59%. That gap compounds significantly over decades—on a $100,000 investment, the annual fee difference alone is around $560. VOO also dwarfs SWPPX in scale, with $1041B in AUM versus $144B, which typically translates to tighter bid-ask spreads and better liquidity for most investors.

Who each is best for

SWPPX: Investors with existing Schwab brokerage accounts who prioritize account consolidation and may benefit from Schwab's integrated custody model, or those with very large positions who have negotiated lower advisory fees that bundle SWPPX's higher expense ratio into a blended arrangement.

VOO: Fits investors seeking the lowest-cost S&P 500 exposure in either taxable or retirement accounts, or those who trade frequently enough that ETF liquidity and tight spreads matter materially. Also matches portfolios built around Vanguard holdings, where consolidated account reporting simplifies monitoring.

Key risks to know

  • S&P 500 concentration: Both funds are identical in this regard—they hold the same 500 stocks, so performance hinges entirely on the index itself. If large-cap U.S. equities underperform, both decline in lockstep. Verify that S&P 500 weighting aligns with your broader asset allocation. The larger the portfolio, the larger the dollar impact.
  • Mutual fund redemption mechanics: SWPPX, as a mutual fund, may occasionally sell holdings to meet redemptions, potentially realizing gains that pass through to remaining shareholders. VOO's ETF structure minimizes this scenario through in-kind redemption.

Bottom line

If cost is your primary concern—and for a 30+ year holding period it should be—VOO's 0.03% expense ratio is a clear mathematical advantage over SWPPX's 0.59%. Past performance of the S&P 500 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.

How to read a fund's stats How expense ratios eat returns Correlation between two funds

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