Schwab S&P 500 Index Fund
Figures last verified October 31, 2026
Tracks the S&P 500 index of 500 large US companies.
Two basis points, no minimum, the S&P 500. SWPPX has quietly been one of the cheapest S&P 500 funds in existence for years, and it's a fine illustration of how completely the index price war has been won on behalf of ordinary savers: a fee this size on $100,000 is twenty dollars a year, less than the gas to drive to a financial advisor's office.
The fund-picking decision here is solved; the remaining decisions are human. An S&P 500 fund is 500 large companies, not the whole market and not a diversified portfolio by itself — pair it with international and bonds, or just confirm you're comfortable with a US-mega-cap-only equity base. Plenty of fortunes have been built on exactly that base; just choose it on purpose.
S&P 500 exposure at Schwab with a $0 minimum.
SWPPX alternatives & comparable funds
If you’re weighing SWPPX against the field, these are the funds most investors line it up against — same job, different provider, slightly different terms.
| Fund | Family | Expense Ratio | Minimum |
|---|---|---|---|
| SWPPX — Schwab S&P 500 Index Fund | Schwab | 0.02% | $0 |
| FXAIX — Fidelity 500 Index Fund | Fidelity | 0.015% | $0 |
| VFIAX — Vanguard 500 Index Fund Admiral Shares | Vanguard | 0.04% | $3,000 |
| SWTSX — Schwab Total Stock Market Index Fund | Schwab | 0.03% | $0 |
| FNILX — Fidelity ZERO Large Cap Index Fund | Fidelity | 0.00% | $0 |
Head-to-head comparisons
Frequently asked questions
What is the expense ratio of SWPPX?
SWPPX (Schwab S&P 500 Index Fund) has an expense ratio of 0.02%, which works out to roughly $2 per year for every $10,000 invested. That is very low by industry standards, where the average fund still charges well over 0.40%.
What is the minimum investment for SWPPX?
SWPPX has no minimum initial investment — you can start with any amount.
What does SWPPX invest in?
Tracks the S&P 500 index of 500 large US companies. It falls in the s&p 500 / large blend category and is an index fund.
What are good alternatives to SWPPX?
The funds most often compared with SWPPX are FXAIX, VFIAX, SWTSX — broadly similar exposure from different providers, with small differences in fee, minimum, and portability that usually come down to which brokerage holds your account.
Expense ratio and minimum for SWPPX drawn from Schwab fund documentation; last verified October 31, 2026. Figures change — confirm against the official prospectus before investing. This review is editorial opinion, not investment advice.