LemonTrades
TL;DR
- The Schwab S&P 500 Index Fund (SWPPX) split 6-for-1 on August 15, 2025. Every share became six, at one-sixth of the price.
- Your money didn’t change, and no tax was due. The price simply showed a drop of about 83% that day.
- SWPPX now trades near $19 a share. Its yearly fee is just 0.02%.
- LemonTrades tells you what moved the S&P 500, and why, as it happens.
Mutual funds rarely split, but Schwab split six of its index funds in 2025. Here’s how SWPPX’s worked.
The key dates
| Date | What happened |
|---|---|
| June 5, 2025 | Schwab’s fund board approved the split |
| June 9, 2025 | Schwab announced it, with fee cuts on four ETFs |
| August 15, 2025 | The 6-for-1 split took effect |
What it meant for holders
| Before | After | |
|---|---|---|
| Shares | 100 | 600 |
| Price per share | About $100 | About $17 |
| Total value | About $10,000 | About $10,000 |
| Tax | – | None |
Your cost per share was divided by six too. Automatic investments and dividends carried on as before.
Why split a mutual fund?
Mutual funds can be bought in dollar amounts, so the price per share matters less than for stocks. Schwab said splitting brings share prices in line with its other funds and makes them easier to compare and to buy in whole shares.
SWPPX vs VOO
Both track the S&P 500. SWPPX is a mutual fund, priced once a day, with no minimum at Schwab. VOO is an ETF that trades all day and has never split: see VOO stock split and is VOO a good investment. Other splits: VUG and VGT.
Sources
- Schwab: fee cuts and mutual fund share splits (June 9, 2025)
- SEC: Schwab fund supplement on the split
- Schwab Asset Management: SWPPX
Education, not financial advice. See our disclaimer.
