APFWX vs. SWLVX

Last updated Jun 23, 2026

APFWX (Artisan Value Income Fund) and SWLVX (Schwab U.S. Large-Cap Value Index Fund) are both Large Cap Value Equities funds. Over the past 3 years, APFWX returned 10.63%/yr vs 17.99%/yr for SWLVX. Their correlation of 0.92 suggests significant overlap in exposure. APFWX charges 1.20%/yr vs 0.04%/yr for SWLVX.

Performance

APFWX vs. SWLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Artisan Value Income Fund (APFWX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APFWX achieves a 5.56% return, which is significantly lower than SWLVX's 15.99% return.

APFWX

• 1D: -0.17%
• 1M: -1.61%
• YTD: 5.56%
• 6M: 4.53%
• 1Y: 13.13%
• 3Y*: 10.63%
• 5Y*: —
• 10Y*: —

SWLVX

• 1D: 0.75%
• 1M: 2.84%
• YTD: 15.99%
• 6M: 15.35%
• 1Y: 30.01%
• 3Y*: 17.99%
• 5Y*: 11.71%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

APFWX vs. SWLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
APFWX Artisan Value Income Fund	5.56%	9.35%	9.69%	10.87%	-3.86%
SWLVX Schwab U.S. Large-Cap Value Index Fund	15.99%	15.87%	14.36%	11.45%	-0.14%

Correlation

The correlation between APFWX and SWLVX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (All Time) Calculated using the full available price history since May 16, 2022	0.92

The correlation between APFWX and SWLVX has been stable across timeframes, ranging from 0.82 to 0.92 - a consistent structural relationship.

Return for Risk

APFWX vs. SWLVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

APFWX

APFWX Risk / Return Rank: 23
APFWX Sharpe Ratio Rank: 23
APFWX Sortino Ratio Rank: 24
APFWX Omega Ratio Rank: 21
APFWX Calmar Ratio Rank: 23
APFWX Martin Ratio Rank: 25

SWLVX

SWLVX Risk / Return Rank: 88
SWLVX Sharpe Ratio Rank: 89
SWLVX Sortino Ratio Rank: 86
SWLVX Omega Ratio Rank: 81
SWLVX Calmar Ratio Rank: 91
SWLVX Martin Ratio Rank: 94

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

APFWX vs. SWLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Artisan Value Income Fund (APFWX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	APFWX	SWLVX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.71	-1.43
Sortino ratio: Return per unit of downside risk	1.90	3.77	-1.87
Omega ratio: Gain probability vs. loss probability	1.22	1.49	-0.27
Calmar ratio: Return relative to maximum drawdown	1.67	4.46	-2.79
Martin ratio: Return relative to average drawdown	5.63	18.60	-12.97

APFWX vs. SWLVX - Sharpe Ratio Comparison

The current APFWX Sharpe Ratio is 1.28, which is lower than the SWLVX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of APFWX and SWLVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

APFWX vs. SWLVX - Drawdown Comparison

The maximum APFWX drawdown since its inception was -16.00%, smaller than the maximum SWLVX drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for APFWX and SWLVX.

Drawdown Indicators

	APFWX	SWLVX	Difference
Max Drawdown Largest peak-to-trough decline	-16.00%	-38.34%	+22.34%
Max Drawdown (1Y) Largest decline over 1 year	-8.01%	-6.82%	-1.19%
Max Drawdown (3Y) Largest decline over 3 years	-14.65%	-15.61%	+0.96%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.05%	—
Current Drawdown Current decline from peak	-2.37%	-0.63%	-1.74%
Average Drawdown Average peak-to-trough decline	-3.69%	-4.82%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	1.63%	+0.73%

Volatility

APFWX vs. SWLVX - Volatility Comparison

The current volatility for Artisan Value Income Fund (APFWX) is 2.92%, while Schwab U.S. Large-Cap Value Index Fund (SWLVX) has a volatility of 4.03%. This indicates that APFWX experiences smaller price fluctuations and is considered to be less risky than SWLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APFWX	SWLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	4.03%	-1.11%
Volatility (6M) Calculated over the trailing 6-month period	7.36%	8.69%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	10.44%	11.23%	-0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.58%	14.90%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.58%	18.54%	-4.96%

APFWX vs. SWLVX - Expense Ratio Comparison

APFWX has a 1.20% expense ratio, which is higher than SWLVX's 0.04% expense ratio.

Dividends

APFWX vs. SWLVX - Dividend Comparison

APFWX's dividend yield for the trailing twelve months is around 2.07%, more than SWLVX's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
APFWX Artisan Value Income Fund	2.07%	1.61%	2.38%	2.62%	2.10%	0.00%	0.00%	0.00%	0.00%
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.74%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%

Frequently Asked Questions

Can I hold both APFWX and SWLVX in my portfolio?

APFWX and SWLVX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APFWX or SWLVX?

SWLVX has higher volatility (4.03%) compared to APFWX (2.92%). In terms of maximum drawdown, APFWX dropped -16.00% vs SWLVX's -38.34%.

Which has better risk-adjusted returns?

SWLVX currently has the higher Sharpe Ratio (2.71 vs 1.28), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.