Schwab S&P 500 Index Fund (SWPPX) review

Schwab S&P 500 Index Fund is the Schwab customer's version of the Fidelity 500 Index Fund. Schwab Asset Management lists a total expense ratio of 0.020% and no investment minimum, and says the fund's goal is to track the total return of the S&P 500 Index. The fund page showed 503 holdings as of September 30, 2026, total net assets of $148,114,557,748.23 as of November 12, 2026 and portfolio turnover of 2.07%. Schwab notes that the S&P 500 covers approximately 80% of available US market capitalization, which is a useful reminder of what an S&P 500 fund leaves out. The fund launched on 05/19/1997. It ranks sixth because it costs a little more than Fidelity's 0.015% fund and, as a mutual fund, prices once a day. For investors who already bank and invest at Schwab, it is a simple core holding that accepts any amount.

Who it is for

Schwab customers who want an S&P 500 mutual fund with no minimum

Price

0.020% total expense ratio per year, about $2 per $10,000 invested.

Total Expense Ratio: 0.020%
Quoted from the vendor pricing page on November 13, 2026.

Key features

• Total expense ratio of 0.020%
• No investment minimum
• Tracks the total return of the S&P 500 Index
• 503 holdings as of September 30, 2026
• Portfolio turnover of 2.07% as of October 31, 2026

Strengths and weaknesses

• Strength: 0.020% cost is below VOO and IVV
• Strength: No minimum to start
• Strength: $148,114,557,748.23 in total net assets as of November 12, 2026
• Weakness: Mutual fund priced once a day
• Weakness: Large-cap US stocks only
• Weakness: Costs slightly more than Fidelity 500 Index at 0.015%

Key facts

• Expense ratio: 0.020%
• Index: S&P 500 Index
• Minimum: No investment minimum
• Inception: 05/19/1997

Where it ranks

Schwab S&P 500 Index Fund (SWPPX) is No. 6 in our Best Index Funds verdict.