If you're looking for an Index fund category, then a possible option is Schwab Total Stock Market (SWTSX). The fund does not have a Zacks Mutual Fund Rank, though we have been able to explore other metrics like performance, volatility, and cost.History of Fund/ManagerSchwab Funds is responsible for SWTSX, and the company is based out of San Francisco, CA. The Schwab Total Stock Market made its debut in June of 1999 and SWTSX has managed to accumulate roughly $7.76 billion in assets, as of the most recently available information. The fund's current manager is a team of investment professionals.PerformanceInvestors naturally seek funds with strong performance. SWTSX has a 5-year annualized total return of 13.36% and it sits in the top third among its category peers. If you're interested in shorter time frames, do not dismiss looking at the fund's 3-year annualized total return of 17%, which places it in the top third during this time-frame.When looking at a fund's performance, it is also important to note the standard deviation of the returns. The lower the standard deviation, the less volatility the fund experiences. Over the past three years, SWTSX's standard deviation comes in at 9.3%, compared to the category average of 9.16%. Looking at the past 5 years, the fund's standard deviation is 9.63% compared to the category average of 9.41%. This makes the fund more volatile than its peers over the past half-decade.Risk FactorsOne cannot ignore the volatility of this segment, however, as it is always important for investors to remember the downside to any potential investment. SWTSX lost 50.2% in the most recent bear market and outperformed its peer group by 3.65%. This makes the fund a possibly better choice than its peers during a sliding market environment.Nevertheless, with a 5-year beta of 1, the fund is likely to be as volatile as the market average. Because alpha represents a portfolio's performance on a risk-adjusted basis relative to a benchmark, which is the S&P 500 in this case, one should pay attention to this metric as well. SWTSX's 5-year performance has produced a negative alpha of -0.53, which means managers in this portfolio find it difficult to pick securities that generate better-than-benchmark returns.HoldingsExploring the equity holdings of a mutual fund is also a valuable exercise. This can show us how the manager is applying their stated methodology, as well as if there are any inherent biases in their approach. For this particular fund, the focus is primarily on equities that are traded in the United States.Right now, 79.55% of this mutual fund's holdings are stocks, and these companies have an average market capitalization of $163.74 billion. The fund has the heaviest exposure to the following market sectors: Technology Finance Industrial Cyclical Turnover is about 4%, so those in charge of the fund make fewer trades than the average comparable fund.ExpensesAs competition heats up in the mutual fund market, costs become increasingly important. Compared to its otherwise identical counterpart, a low-cost product will be an outperformer, all other things being equal. Thus, taking a closer look at cost-related metrics is vital for investors. In terms of fees, SWTSX is a no load fund. It has an expense ratio of 0.03% compared to the category average of 0.85%. Looking at the fund from a cost perspective, SWTSX is actually cheaper than its peers.While the minimum initial investment for the product is $0, investors should also note that there is no minimum for each subsequent investment.Bottom LineYour research on the Index segment doesn't have to stop here. You can check out all the great mutual fund tools we have to offer by going to www.zacks.com/funds/mutual-funds to see the additional features we offer as well for additional information. If you want to check out our stock reports as well, make sure to go to Zacks.com to see all of the great tools we have to offer, including our time-tested Zacks Rank.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Get Your Free (SWTSX): Fund Analysis Report To read this article on Zacks.com click here.