APIE vs. SWISX

Last updated Jun 23, 2026

APIE (ActivePassive International Equity ETF) and SWISX (Schwab International Index Fund) are both Foreign Large Cap Equities funds. APIE is actively managed, while SWISX is passively managed. Over the past 3 years, APIE returned 18.28%/yr vs 16.19%/yr for SWISX. Their correlation of 0.86 suggests significant overlap in exposure. APIE charges 0.45%/yr vs 0.06%/yr for SWISX.

Performance

APIE vs. SWISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ActivePassive International Equity ETF (APIE) and Schwab International Index Fund (SWISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APIE achieves a 9.17% return, which is significantly lower than SWISX's 10.58% return.

APIE

• 1D: -0.29%
• 1M: 2.45%
• YTD: 9.17%
• 6M: 9.79%
• 1Y: 26.18%
• 3Y*: 18.28%
• 5Y*: —
• 10Y*: —

SWISX

• 1D: 0.83%
• 1M: 1.99%
• YTD: 10.58%
• 6M: 10.97%
• 1Y: 25.29%
• 3Y*: 16.19%
• 5Y*: 9.33%
• 10Y*: 9.58%

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

APIE vs. SWISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
APIE ActivePassive International Equity ETF	9.17%	31.46%	7.37%	7.64%
SWISX Schwab International Index Fund	10.58%	31.59%	3.54%	6.82%

Correlation

The correlation between APIE and SWISX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 3, 2023	0.86

The correlation between APIE and SWISX has been stable across timeframes, ranging from 0.85 to 0.89 - a consistent structural relationship.

APIE vs. SWISX - Sectors Allocation Comparison

Sectors	APIE	SWISX
Technology	22.7%	12.0%
Financial Services	19.8%	24.1%
Industrials	14.0%	19.8%
Consumer Cyclical	9.8%	7.8%
Healthcare	9.2%	9.0%
Communication Services	7.3%	4.9%
Consumer Defensive	6.2%	6.7%
Basic Materials	5.4%	6.4%
Energy	2.7%	3.8%
Utilities	2.4%	3.8%
Real Estate	0.5%	1.8%

Return for Risk

APIE vs. SWISX — Risk / Return Rank

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

APIE

APIE Risk / Return Rank: 45
APIE Sharpe Ratio Rank: 46
APIE Sortino Ratio Rank: 46
APIE Omega Ratio Rank: 44
APIE Calmar Ratio Rank: 44
APIE Martin Ratio Rank: 47

SWISX

SWISX Risk / Return Rank: 35
SWISX Sharpe Ratio Rank: 34
SWISX Sortino Ratio Rank: 33
SWISX Omega Ratio Rank: 33
SWISX Calmar Ratio Rank: 36
SWISX Martin Ratio Rank: 39

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.

APIE vs. SWISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ActivePassive International Equity ETF (APIE) and Schwab International Index Fund (SWISX). 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.

	APIE	SWISX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.56	+0.01
Sortino ratio: Return per unit of downside risk	2.24	2.23	+0.01
Omega ratio: Gain probability vs. loss probability	1.28	1.28	-0.01
Calmar ratio: Return relative to maximum drawdown	2.12	2.14	-0.02
Martin ratio: Return relative to average drawdown	7.75	8.03	-0.28

APIE vs. SWISX - Sharpe Ratio Comparison

The current APIE Sharpe Ratio is 1.57, which is comparable to the SWISX Sharpe Ratio of 1.56. The chart below compares the historical Sharpe Ratios of APIE and SWISX, 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

APIE vs. SWISX - Drawdown Comparison

The maximum APIE drawdown since its inception was -15.94%, smaller than the maximum SWISX drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for APIE and SWISX.

Drawdown Indicators

	APIE	SWISX	Difference
Max Drawdown Largest peak-to-trough decline	-15.94%	-60.65%	+44.71%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-11.39%	-1.02%
Max Drawdown (3Y) Largest decline over 3 years	-15.94%	-13.68%	-2.26%
Max Drawdown (5Y) Largest decline over 5 years	—	-29.42%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.83%	—
Current Drawdown Current decline from peak	-0.54%	0.00%	-0.54%
Average Drawdown Average peak-to-trough decline	-2.74%	-14.79%	+12.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.39%	3.04%	+0.35%

Volatility

APIE vs. SWISX - Volatility Comparison

ActivePassive International Equity ETF (APIE) has a higher volatility of 5.99% compared to Schwab International Index Fund (SWISX) at 5.02%. This indicates that APIE's price experiences larger fluctuations and is considered to be riskier than SWISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APIE	SWISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.99%	5.02%	+0.97%
Volatility (6M) Calculated over the trailing 6-month period	13.88%	13.02%	+0.86%
Volatility (1Y) Calculated over the trailing 1-year period	16.81%	15.62%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.94%	16.37%	+0.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.94%	16.88%	+0.06%

APIE vs. SWISX - Expense Ratio Comparison

APIE has a 0.45% expense ratio, which is higher than SWISX's 0.06% expense ratio.

Dividends

APIE vs. SWISX - Dividend Comparison

APIE's dividend yield for the trailing twelve months is around 3.40%, more than SWISX's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APIE ActivePassive International Equity ETF	3.40%	3.71%	2.14%	0.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWISX Schwab International Index Fund	3.21%	3.55%	3.29%	3.31%	2.73%	3.34%	1.88%	3.09%	3.15%	2.71%	3.19%	2.71%

Frequently Asked Questions

Can I hold both APIE and SWISX in my portfolio?

APIE and SWISX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APIE or SWISX?

APIE has higher volatility (5.99%) compared to SWISX (5.02%). In terms of maximum drawdown, APIE dropped -15.94% vs SWISX's -60.65%.

Which has better risk-adjusted returns?

APIE currently has the higher Sharpe Ratio (1.57 vs 1.56), 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.