APGAX vs. SWLGX

Last updated Jun 24, 2026

APGAX (AB Large Cap Growth Fund Class A) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, APGAX returned 9.43%/yr vs 13.59%/yr for SWLGX. With a 0.97 correlation, they move nearly in lockstep. APGAX charges 0.84%/yr vs 0.04%/yr for SWLGX.

Performance

APGAX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Large Cap Growth Fund Class A (APGAX) and Schwab U.S. Large-Cap Growth Index Fund (SWLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APGAX achieves a 2.04% return, which is significantly lower than SWLGX's 3.19% return.

APGAX

• 1D: -1.55%
• 1M: -1.94%
• YTD: 2.04%
• 6M: 1.23%
• 1Y: 12.29%
• 3Y*: 17.47%
• 5Y*: 9.43%
• 10Y*: 16.39%

SWLGX

• 1D: -1.26%
• 1M: -2.48%
• YTD: 3.19%
• 6M: 1.92%
• 1Y: 19.96%
• 3Y*: 22.61%
• 5Y*: 13.59%
• 10Y*: —

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

APGAX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APGAX AB Large Cap Growth Fund Class A	2.04%	12.96%	25.09%	34.66%	-28.96%	28.60%	34.05%	33.77%	1.97%	-1.28%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	3.19%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between APGAX and SWLGX is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.97

The correlation between APGAX and SWLGX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

APGAX vs. SWLGX — Risk / Return Rank

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

APGAX

APGAX Risk / Return Rank: 12
APGAX Sharpe Ratio Rank: 12
APGAX Sortino Ratio Rank: 12
APGAX Omega Ratio Rank: 12
APGAX Calmar Ratio Rank: 10
APGAX Martin Ratio Rank: 12

SWLGX

SWLGX Risk / Return Rank: 21
SWLGX Sharpe Ratio Rank: 25
SWLGX Sortino Ratio Rank: 22
SWLGX Omega Ratio Rank: 23
SWLGX Calmar Ratio Rank: 16
SWLGX Martin Ratio Rank: 18

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.

APGAX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Large Cap Growth Fund Class A (APGAX) and Schwab U.S. Large-Cap Growth Index Fund (SWLGX). 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.

	APGAX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	0.90	1.32	-0.42
Sortino ratio: Return per unit of downside risk	1.32	1.83	-0.51
Omega ratio: Gain probability vs. loss probability	1.17	1.23	-0.07
Calmar ratio: Return relative to maximum drawdown	0.88	1.32	-0.44
Martin ratio: Return relative to average drawdown	3.20	4.34	-1.14

APGAX vs. SWLGX - Sharpe Ratio Comparison

The current APGAX Sharpe Ratio is 0.90, which is lower than the SWLGX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of APGAX and SWLGX, 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

APGAX vs. SWLGX - Drawdown Comparison

The maximum APGAX drawdown since its inception was -67.19%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for APGAX and SWLGX.

Drawdown Indicators

	APGAX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-67.19%	-32.69%	-34.50%
Max Drawdown (1Y) Largest decline over 1 year	-15.33%	-16.16%	+0.83%
Max Drawdown (3Y) Largest decline over 3 years	-21.63%	-23.30%	+1.67%
Max Drawdown (5Y) Largest decline over 5 years	-34.04%	-32.69%	-1.35%
Max Drawdown (10Y) Largest decline over 10 years	-34.04%	—	—
Current Drawdown Current decline from peak	-3.97%	-5.34%	+1.37%
Average Drawdown Average peak-to-trough decline	-19.39%	-7.04%	-12.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.20%	4.91%	-0.71%

Volatility

APGAX vs. SWLGX - Volatility Comparison

The current volatility for AB Large Cap Growth Fund Class A (APGAX) is 5.48%, while Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a volatility of 5.91%. This indicates that APGAX experiences smaller price fluctuations and is considered to be less risky than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APGAX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.48%	5.91%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.86%	12.60%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	15.05%	16.21%	-1.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.27%	21.61%	-1.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.73%	22.68%	-2.95%

APGAX vs. SWLGX - Expense Ratio Comparison

APGAX has a 0.84% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

APGAX vs. SWLGX - Dividend Comparison

APGAX's dividend yield for the trailing twelve months is around 11.09%, more than SWLGX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APGAX AB Large Cap Growth Fund Class A	11.09%	11.31%	7.44%	1.75%	0.97%	8.04%	2.87%	3.66%	9.96%	4.09%	2.74%	9.23%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.44%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both APGAX and SWLGX in my portfolio?

With a correlation of 0.95, APGAX and SWLGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, APGAX or SWLGX?

SWLGX has higher volatility (5.91%) compared to APGAX (5.48%). In terms of maximum drawdown, APGAX dropped -67.19% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.32 vs 0.90), 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.