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.
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.
SWPPX has outpaced VOO over the trailing twelve months, posting a 16.86% total return against 16.84%. Over 10 years the two are effectively even, compounding at 15.49% and 15.49% a year. 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.
Total return with all distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date), split-adjusted, as of October 16, 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 Sep 2010” measures every fund from September 9, 2010 — 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.
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.
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.
SWPPX (Schwab S&P 500 Index Fund) is a mutual fund, while VOO (Vanguard S&P 500 ETF) is an ETF — their trading structures differ.
VOO offers the higher yield at 1.04% vs 0.97% for SWPPX. 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 0.03%.
VOO is the larger fund by assets ($1.04T), but assets alone do not establish trading costs or liquidity.
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On a $10,000 investment, SWPPX would generate roughly $97.00 cash per distribution, while VOO would produce $26.00 cash per distribution, at current distribution rates.
SWPPX yield0.97%
VOO yield1.04%
Cash diff on $10K$71.00
Cost & efficiency
Over 10 years on $10,000, SWPPX would cost approximately $20 in fees vs $30 for VOO (simplified, not compounded). The $10.00 difference may be offset by yield or performance.
SWPPX ER0.02%
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 $149B in assets. VOO is managed by Vanguard (launched 09/07/2010) with $1.04T in assets.
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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 0.02% for SWPPX versus 0.03% for VOO, with distribution yields of 0.97% and 1.04% as of October 2026. The decision is trading flexibility, account location, and the fee — not a different stock market.
What is the current distribution rate for SWPPX and VOO?
SWPPX currently distributes 0.97% and VOO 1.04%, 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 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 97, SWPPX scores 79, 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 0.02% 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 $97.00 cash per distribution ($97.00 annually). The same in VOO would produce about $26.00 cash per distribution ($104.00 annually).
Which has performed better historically, SWPPX or VOO?
SWPPX has outpaced VOO over the trailing twelve months, posting a 16.86% total return against 16.84%. Over 10 years the two are effectively even, compounding at 15.49% and 15.49% a year. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.
Explore related screeners
Lateral filters that include these funds — browse the full peer set on DividendVision.
SWPPX and VOO both track the S&P 500 Index, giving investors exposure to 500 of the largest U.S. companies with identical beta of 1.0. This difference shapes how they distribute income, their underlying asset bases, and the mechanics of buying and selling them. The expense ratio difference is negligible—0.02% versus 0.03%—but SWPPX has a slightly lower distribution yield at 0.97% compared to 1.04%, possibly due to tax-management techniques or cash drag differences.
VOO: Fits investors who want maximum asset base and institutional recognition, prefer the intraday trading flexibility of an ETF structure, or benefit from Vanguard's scale and ecosystem.
Key risks to know
Index-tracking concentration: Both funds hold the S&P 500, so roughly 30% of holdings are typically concentrated in the largest 10 stocks. A correction in mega-cap technology or financials moves the entire portfolio.
Single-index dependency: Tracking a single domestic equity index leaves no geographic or sector diversification. Economic weakness or equity-market-wide drawdowns affect both funds equally.
Share price difference:VOO trades at $701.61 per share versus SWPPX at $19.80, which affects transaction costs if buying whole shares but is irrelevant for fractional-share purchases or automatic reinvestment. Both deliver S&P 500 exposure with minimal friction. Past performance 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.
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