Wealthy PotSWTSX vs VTSAX: 94% Overlap and a 0.01-Point Fee Gap, So the Minimum and the Broker Decide
SWTSX and VTSAX are the Schwab and Vanguard versions of a total US stock market index mutual fund, and they are nearly interchangeable. SWTSX charges 0.03% with no minimum. VTSAX charges 0.04% and needs generally $3,000 to open. Matching their latest SEC holdings filings, the overlap was 94.1%, and over the ten years to 31 December 2025 their returns were 14.18% and 14.24% a year. Pick the one your brokerage sells without a fee.
Table of Contents
The Short Answer
- Fees: 0.03% vs 0.04%. $3 against $4 a year per $10,000; $10 a year apart per $100,000.
- Overlap: 94.1%. 99.4% of SWTSX and 99.5% of VTSAX sat in companies both held. Our calculation from SWTSX's 31 July 2026 and VTSAX's 30 June 2026 N-PORT filings.
- Returns to 31 December 2025: SWTSX 14.18% a year over 10 years, VTSAX 14.24%. Five-year returns were identical at 13.06%.
- Minimums: SWTSX has none. VTSAX Admiral Shares need generally $3,000 to open.
- Indexes: SWTSX tracks the Dow Jones U.S. Total Stock Market Index; VTSAX tracks the Morningstar US Total Market Index (CRSP until 29 July 2026).
- Hold both? No benefit. It is the same market twice.
How Much SWTSX and VTSAX Overlap
| Portfolios in the latest N-PORT filings | SWTSX (31 Jul 2026) | VTSAX (30 Jun 2026) |
|---|---|---|
| Companies in the filing | 2,850 | 3,159 |
| Held by both funds | 2,768 | 2,768 |
| Share of the fund in those shared companies | 99.4% | 99.5% |
| Companies the other fund did not own | 82 (0.36% of SWTSX) | 391 (0.26% of VTSAX) |
| Top-10 weight | 34.6% | 33.4% |
| Overlap, sum of the smaller weight in each shared stock | 94.1% | |
The leftover six points of overlap are mostly weight differences on big names, which come from the month between filings rather than strategy. Microsoft was 4.75% of SWTSX on 31 July and 3.83% of VTSAX on 30 June; Micron 1.28% against 1.80%. Alphabet, Broadcom and Berkshire Hathaway were within 0.1 point. Because VTSAX and VTI are two share classes of one Vanguard fund, these numbers match our SWTSX vs VTI page exactly.
SWTSX vs VTSAX Side by Side
| SWTSX | VTSAX | |
|---|---|---|
| Full name | Schwab Total Stock Market Index Fund | Vanguard Morningstar Total Stock Market Index Fund Admiral Shares |
| Index | Dow Jones U.S. Total Stock Market Index | Morningstar US Total Market Index (CRSP US Total Market Index until 29 Jul 2026) |
| Method | Sampling; expects to hold the largest 2,000 to 2,800 US stocks | Sampling |
| Expense ratio | 0.03% | 0.04% |
| Cost on $10,000 over 10 years (prospectus example) | $39 | $51 |
| Minimum to open | None | Generally $3,000 |
| Account service fee | None listed | $25 a year for certain balances under $5 million |
| Holdings | 2,885 (Schwab, 31 Aug 2026) | 3,507 (Vanguard, 31 Aug 2026) |
| Portfolio turnover, latest fiscal year | 3% | 3% |
| Size | $45.5 billion (2 Oct 2026) | $2.3 trillion across all share classes (31 Aug 2026) |
| Inception | 1 Jun 1999 | 13 Nov 2000 |
Returns: Six Hundredths of a Point
| Average annual return to 31 Dec 2025 | 1 year | 5 years | 10 years |
|---|---|---|---|
| SWTSX before taxes | 17.06% | 13.06% | 14.18% |
| VTSAX before taxes | 17.12% | 13.06% | 14.24% |
| VTSAX minus SWTSX | +0.06 | 0.00 | +0.06 |
| SWTSX after taxes on distributions | 16.74% | 12.68% | 13.70% |
| VTSAX after taxes on distributions | 16.78% | 12.68% | 13.78% |
| SWTSX after taxes on distributions and sale | 10.30% | 10.38% | 11.79% |
| VTSAX after taxes on distributions and sale | 10.33% | 10.37% | 11.84% |
| Dow Jones U.S. Total Stock Market Index | 17.05 | 13.07 | 14.21 |
| CRSP US Total Market Index | 17.15 | 13.08 | 14.25 |
VTSAX came out 0.06 points a year ahead over ten years despite its slightly higher fee, because its index did slightly better than Schwab's. Each fund tracked its own index within a few hundredths. Both funds' worst quarter was Q1 2020 (SWTSX -20.98%, VTSAX -20.87%), a reminder that "total market" still means all stocks.
For more recent figures, Vanguard reported VTSAX at 15.32%, 22.31%, 12.55% and 14.69% a year over 1, 3, 5 and 10 years to 30 September 2026. When we checked on 5 October, Schwab's page had not yet posted SWTSX's September quarter-end figures, so we do not compare them here.
| Hypothetical $10,000 held 10 years | Ending value |
|---|---|
| At SWTSX's 10-year return to 2025 (14.18%) | $37,662 |
| At VTSAX's 10-year return to 2025 (14.24%) | $37,860 |
This is educational information, not personalized investment advice. Past performance does not guarantee future results, and all investing carries the risk of loss.
Where They Differ
1. Minimum. SWTSX's prospectus: "There is no minimum initial investment for the fund." VTSAX Admiral Shares need generally $3,000 to open and $1 to add. For someone starting with a few hundred dollars, that settles it, or points to VTSAX's ETF class VTI, which has no fund minimum (see SWTSX vs VTI).
2. Where you buy it. SWTSX's prospectus says investors "may only invest in the fund through an account at Charles Schwab & Co., Inc. (Schwab) or another financial intermediary." VTSAX is bought at Vanguard or at another broker that offers it. Brokers set their own transaction fees for other firms' mutual funds, so the practical rule is to buy the in-house fund where you keep your account.
3. Small fees. VTSAX's fee table lists a $25 annual account service fee "for certain fund account balances below $5,000,000". SWTSX's lists none. Check how Vanguard applies it to your account.
4. Taxable-account record. Schwab's distribution table shows no capital gains from SWTSX in December 2022, 2023, 2024 or 2025; the last was in December 2021 ($0.0352 short-term and $0.2022 long-term per share). VTSAX paid no capital gain distributions in 2021 through 2025, per Vanguard's financial highlights. The prospectus after-tax returns above are within 0.08 points of each other.
5. Index. Different index families, the same goal. Schwab's prospectus expects SWTSX to hold the largest 2,000 to 2,800 US stocks; VTSAX holds more of the smallest names, which carry very little weight.
Which One Fits You
Your account is at Schwab: SWTSX. No minimum, 0.03%, and you avoid paying to buy another firm's fund.
Your account is at Vanguard and you have $3,000: VTSAX. Same market, a one-hundredth-of-a-point fee difference, and no reason to move.
You already own one in a taxable account: keep it. Selling to switch can realize capital gains that dwarf a $10-per-$100,000 fee gap.
You may change brokers someday, in a taxable account: consider a total-market ETF instead, such as VTI or Schwab's SCHB, which move between brokers in kind. See SCHB vs SWTSX.
IRA: either. In a retirement account you can sell and rebuy without tax, so pick the one your custodian sells free.
Holding both? Only as a side effect of having accounts at both firms. Count them as one fund when you set your US/international split.
Sources & Methodology
- SWTSX summary prospectus, 26 February 2026: fee table, index, method, minimum, purchase rules, returns to 2025.
- VTSAX summary prospectus, 28 April 2026: fee table, minimums, index, returns to 2025.
- Vanguard supplement dated 29 July 2026: CRSP to Morningstar rename.
- SWTSX Form N-PORT, 31 July 2026 and Vanguard Total Stock Market Index Fund Form N-PORT, 30 June 2026: holdings behind the overlap.
- Schwab SWTSX page and Vanguard VTSAX profile: holdings counts, size, distributions, VTSAX returns to 30 September 2026.
How the overlap was computed. For each company both funds held we took the smaller of its two weights and summed them, the same method and N-PORT data the Portfolio Overlap Checker uses. Vanguard files one N-PORT for the Total Stock Market fund, covering VTSAX and VTI.
What we could not verify. What a given broker charges to buy SWTSX outside Schwab or VTSAX outside Vanguard; SWTSX's 30 September 2026 returns, not yet posted when we checked.
This article is for general education and is not investment, tax or legal advice. Past performance does not guarantee future results, and all investing carries the risk of loss. Figures were checked against the sources above on 5 October 2026; confirm current details with Schwab or Vanguard before acting.
FAQ: SWTSX vs VTSAX
Is SWTSX or VTSAX better?
Neither by any meaningful margin. SWTSX costs 0.03% with no minimum; VTSAX costs 0.04% with a $3,000 minimum. Over the ten years to 31 December 2025, SWTSX returned 14.18% a year and VTSAX 14.24%. Use the one your brokerage offers without a transaction fee.
How much do SWTSX and VTSAX overlap?
94.1% by weight, using SWTSX's 31 July 2026 and VTSAX's 30 June 2026 SEC filings. More than 99% of each fund was in companies the other also held.
Should I hold both SWTSX and VTSAX?
No diversification benefit. They own the same market.
Can I buy VTSAX at Schwab?
Schwab sets its own terms for other firms' mutual funds, so check its fee first. SWTSX or the ETF VTI gives the same exposure.
Can I buy SWTSX at Vanguard or Fidelity?
The prospectus allows buying through Schwab "or another financial intermediary", so some brokers may offer it, possibly with a fee. At Fidelity, its own total-market funds cover the same ground; see FZROX vs VTSAX.
Should I sell VTSAX to buy SWTSX for the lower fee?
Inside an IRA it costs no tax, but the saving is $1 a year per $10,000. In a taxable account, selling can trigger capital gains tax that can easily exceed many years of fee savings.
Do SWTSX and VTSAX track the same index?
No. SWTSX tracks the Dow Jones U.S. Total Stock Market Index; VTSAX tracks the Morningstar US Total Market Index (the CRSP US Total Market Index until 29 July 2026). Both aim to cover the whole US market.
Cite This Page
Journalists, educators and bloggers are welcome to cite this comparison. Please link back so readers can reach the underlying filings.
"SWTSX vs VTSAX: 94% Overlap and a 0.01-Point Fee Gap, So the Minimum and the Broker Decide." Wealthy Pot, 2026. https://wealthypot.com/swtsx-vs-vtsax/
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