Quick Scoop: SWPPX vs. RSP — Recent Performance

SWPPX (Schwab S&P 500 Index Fund) and RSP (Invesco S&P 500 Equal Weight ETF) have taken noticeably different paths recently, with RSP generally outperforming SWPPX over the last year as of mid-2026. This divergence reflects their underlying strategies: SWPPX tracks the standard market- cap–weighted S&P 500, while RSP gives each S&P 500 company the same weight, tilting exposure toward mid- and smaller-cap large companies within the index.

Bottom line: If you’re seeing RSP pull ahead lately, it’s typically because equal-weighting reduces concentration in mega-cap tech and spreads risk more evenly across the index.

What the numbers show (recent window)

Exact figures vary by source and date, but the pattern is consistent across late-2025 to mid-2026 data:

  • Year-to-date (various snapshots in 2026):
    • SWPPX has posted negative YTD returns in several periods (e.g., around −3.5% to −4.4% in early 2026 snapshots).
* RSP, by contrast, has shown positive YTD returns in comparable periods (e.g., around +8% to +15% YTD in some 2026 comparisons).
  • 1-year total returns (recent annual windows):
    • SWPPX’s 1-year returns have been in the mid-to-high teens in some reports (e.g., ~16–17% in certain 2025–2026 windows).
* RSP has often outpaced that in the most recent 12-month stretches, with some comparisons showing RSP ahead by several percentage points.
  • 3–5 year context:
    • Over longer horizons, SWPPX’s returns have been strong (e.g., 3-year ~17%, 5-year ~15–16% in some datasets).
* RSP’s long-term edge depends heavily on market cycles: it tends to do better when mega-caps lag and the broader large-cap universe participates more evenly.

Why the gap? The S&P 500’s market-cap weighting means a handful of giant tech names dominate SWPPX’s performance. When those leaders slow, equal- weight (RSP) can benefit from the rest of the index catching up.

How they differ (strategy, risk, behavior)

Feature| SWPPX (Schwab S&P 500 Index)| RSP (Invesco S&P 500 Equal Weight)
---|---|---
Weighting| Market-cap weighted (big companies = bigger share)| Equal weight (each S&P 500 stock ~0.2%)
Concentration| High concentration in mega-cap tech| Much lower concentration; broader exposure
Typical behavior| Rises/falls with biggest names| More sensitive to broad large-cap participation
Recent trend (2025–2026)| Dragged by mega-cap volatility in some periods| Often outperformed when mega-caps underperformed
Use case| Core U.S. large-cap exposure, low-cost index| Diversified large-cap exposure, less mega-cap dependence

What this means if you’re choosing between them

  • If you want classic S &P 500 exposure with minimal tilt and very low cost, SWPPX is the straightforward core holding.
  • If you’re worried about overreliance on a few giants and want the S&P 500 but with more balance across all 500 names, RSP is the tool for that.
  • Recent performance edge: In the most recent 12 months leading into mid-2026, RSP has frequently been ahead of SWPPX, especially in YTD comparisons where equal-weight helped.

TL;DR

  • Recent performance: RSP has generally outperformed SWPPX over the last year and in several 2026 YTD snapshots.
  • Why: Equal-weighting reduces mega-cap dominance, which has helped when big tech names lag.
  • Takeaway: SWPPX = pure S&P 500 core; RSP = same index, but diversified across all 500 names, recently giving it an edge in many periods.

Information gathered from public forums or data available on the internet and portrayed here.