APPN vs. SWPPX

Last updated Jul 14, 2026

APPN (Appian Corporation) is a stock, while SWPPX (Schwab S&P 500 Index Fund) is Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 5 years, APPN returned -26.11%/yr vs 13.22%/yr for SWPPX. At a 0.43 correlation, their price movements are largely independent.

Performance

APPN vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Appian Corporation (APPN) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, APPN achieves a -26.45% return, which is significantly lower than SWPPX's 11.35% return.

APPN

• 1D: 2.72%
• 1M: 8.50%
• 6M: -21.18%
• YTD: -26.45%
• 1Y: -9.20%
• 3Y*: -19.78%
• 5Y*: -26.11%
• 10Y*: —

SWPPX

• 1D: 0.46%
• 1M: 2.04%
• 6M: 9.23%
• YTD: 11.35%
• 1Y: 22.46%
• 3Y*: 21.36%
• 5Y*: 13.22%
• 10Y*: 15.29%

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

APPN vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
APPN Appian Corporation	-26.45%	7.40%	-12.43%	15.66%	-50.07%	-59.77%	324.21%	43.06%	-15.15%	109.87%
SWPPX Schwab S&P 500 Index Fund	11.35%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	12.52%

Correlation

The correlation between APPN and SWPPX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.51
Correlation (All Time) Calculated using the full available price history since May 25, 2017	0.43

Over the past year, the correlation between APPN and SWPPX has dropped to 0.22 - well below their long-term average of 0.43, suggesting their price drivers have been diverging.

Return for Risk

APPN vs. SWPPX — Risk / Return Rank

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

APPN

APPN Risk / Return Rank: 40
APPN Sharpe Ratio Rank: 39
APPN Sortino Ratio Rank: 39
APPN Omega Ratio Rank: 39
APPN Calmar Ratio Rank: 40
APPN Martin Ratio Rank: 41

SWPPX

SWPPX Risk / Return Rank: 65
SWPPX Sharpe Ratio Rank: 63
SWPPX Sortino Ratio Rank: 59
SWPPX Omega Ratio Rank: 61
SWPPX Calmar Ratio Rank: 66
SWPPX Martin Ratio Rank: 77

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.

APPN vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Appian Corporation (APPN) and Schwab S&P 500 Index Fund (SWPPX). 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.

	APPN	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	-0.15	1.77	-1.92
Sortino ratio: Return per unit of downside risk	0.21	2.42	-2.21
Omega ratio: Gain probability vs. loss probability	1.02	1.32	-0.30
Calmar ratio: Return relative to maximum drawdown	-0.16	2.49	-2.65
Martin ratio: Return relative to average drawdown	-0.27	10.92	-11.19

APPN vs. SWPPX - Sharpe Ratio Comparison

The current APPN Sharpe Ratio is -0.15, which is lower than the SWPPX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of APPN and SWPPX, 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

APPN vs. SWPPX - Drawdown Comparison

The maximum APPN drawdown since its inception was -92.04%, which is greater than SWPPX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for APPN and SWPPX.

Drawdown Indicators

	APPN	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-92.04%	-55.06%	-36.98%
Max Drawdown (1Y) Largest decline over 1 year	-58.98%	-8.89%	-50.09%
Max Drawdown (3Y) Largest decline over 3 years	-64.03%	-18.74%	-45.29%
Max Drawdown (5Y) Largest decline over 5 years	-85.17%	-24.51%	-60.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-88.93%	-0.31%	-88.62%
Average Drawdown Average peak-to-trough decline	-54.72%	-9.92%	-44.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.31%	2.02%	+32.29%

Volatility

APPN vs. SWPPX - Volatility Comparison

Appian Corporation (APPN) has a higher volatility of 14.08% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.28%. This indicates that APPN's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	APPN	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.08%	4.28%	+9.80%
Volatility (6M) Calculated over the trailing 6-month period	42.37%	9.98%	+32.39%
Volatility (1Y) Calculated over the trailing 1-year period	60.74%	12.55%	+48.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	61.25%	17.03%	+44.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.89%	18.21%	+47.68%

Dividends

APPN vs. SWPPX - Dividend Comparison

APPN has not paid dividends to shareholders, while SWPPX's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
APPN Appian Corporation	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.00%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both APPN and SWPPX in my portfolio?

APPN and SWPPX have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, APPN or SWPPX?

APPN has higher volatility (14.08%) compared to SWPPX (4.28%). In terms of maximum drawdown, APPN dropped -92.04% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (1.77 vs -0.15), 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.