BSMAX vs. SWSSX
BSMAX (iShares Russell Small/Mid-Cap Index Fund Investor A Shares) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both Small Cap Blend Equities funds - BSMAX tracks the Russell 2500 Index while SWSSX tracks the Russell 2000 Index. Both are passively managed. Over the past 10 years, BSMAX returned 11.09%/yr vs 10.73%/yr for SWSSX. Their 0.98 correlation means they have historically moved very closely together. BSMAX charges 0.37%/yr vs 0.04%/yr for SWSSX.
Performance
BSMAX vs. SWSSX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with BSMAX having a 19.75% return and SWSSX slightly lower at 19.54%. Both investments have delivered pretty close results over the past 10 years, with BSMAX having a 11.09% annualized return and SWSSX not far behind at 10.73%.
BSMAX
- 1D
- 0.69%
- 1M
- -1.62%
- 6M
- 12.24%
- YTD
- 19.75%
- 1Y
- 28.41%
- 3Y*
- 15.56%
- 5Y*
- 7.90%
- 10Y*
- 11.09%
- ALL TIME*
- 10.40%
SWSSX
- 1D
- 0.61%
- 1M
- -2.00%
- 6M
- 11.24%
- YTD
- 19.54%
- 1Y
- 32.24%
- 3Y*
- 15.79%
- 5Y*
- 7.29%
- 10Y*
- 10.73%
- ALL TIME*
- 8.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
BSMAX vs. SWSSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BSMAX iShares Russell Small/Mid-Cap Index Fund Investor A Shares | 19.75% | 11.59% | 11.78% | 16.81% | -18.58% | 17.69% | 20.06% | 27.38% | -10.45% | 16.40% |
SWSSX Schwab Small-Cap Index Fund-Select Shares | 19.54% | 12.88% | 11.57% | 17.07% | -20.43% | 14.77% | 20.12% | 25.63% | -11.19% | 14.76% |
Correlation
The correlation between BSMAX and SWSSX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.98 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.98 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.98 |
Correlation (All Time) Calculated using the full available price history since Aug 13, 2015 | 0.98 |
The correlation between BSMAX and SWSSX has been stable across timeframes, ranging from 0.98 to 0.98 - a consistent structural relationship.
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Return for Risk
BSMAX vs. SWSSX — Risk / Return Rank
BSMAX
SWSSX
BSMAX vs. SWSSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Russell Small/Mid-Cap Index Fund Investor A Shares (BSMAX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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.
| BSMAX | SWSSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.98 | 2.92 | +0.06 |
| Martin ratioReturn relative to average drawdown | 11.22 | 10.36 | +0.86 |
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Drawdowns
BSMAX vs. SWSSX - Drawdown Comparison
The maximum BSMAX drawdown since its inception was -41.38%, smaller than the maximum SWSSX drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for BSMAX and SWSSX.
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Drawdown Indicators
| BSMAX | SWSSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -41.38% | -60.34% | +18.96% |
Max Drawdown (1Y)Largest decline over 1 year | -9.46% | -11.00% | +1.54% |
Max Drawdown (3Y)Largest decline over 3 years | -25.54% | -27.50% | +1.96% |
Max Drawdown (5Y)Largest decline over 5 years | -28.48% | -31.93% | +3.45% |
Max Drawdown (10Y)Largest decline over 10 years | -41.38% | -41.81% | +0.43% |
Current DrawdownCurrent decline from peak | -2.28% | -2.48% | +0.20% |
Average DrawdownAverage peak-to-trough decline | -7.63% | -10.68% | +3.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.52% | 3.10% | -0.58% |
Volatility
BSMAX vs. SWSSX - Volatility Comparison
iShares Russell Small/Mid-Cap Index Fund Investor A Shares (BSMAX) has a higher volatility of 3.46% compared to Schwab Small-Cap Index Fund-Select Shares (SWSSX) at 3.21%. This indicates that BSMAX's price experiences larger fluctuations and is considered to be riskier than SWSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BSMAX | SWSSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.46% | 3.21% | +0.25% |
Volatility (6M)Calculated over the trailing 6-month period | 13.41% | 13.99% | -0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.77% | 19.36% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.98% | 22.55% | -1.57% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.58% | 24.07% | -2.49% |
BSMAX vs. SWSSX - Expense Ratio Comparison
BSMAX has a 0.37% expense ratio, which is higher than SWSSX's 0.04% expense ratio.
Dividends
BSMAX vs. SWSSX - Dividend Comparison
BSMAX's dividend yield for the trailing twelve months is around 1.99%, more than SWSSX's 1.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BSMAX iShares Russell Small/Mid-Cap Index Fund Investor A Shares | 1.99% | 2.67% | 1.79% | 1.14% | 4.67% | 4.55% | 4.26% | 2.62% | 4.07% | 2.61% | 1.34% | 0.59% |
SWSSX Schwab Small-Cap Index Fund-Select Shares | 1.08% | 1.29% | 1.66% | 1.49% | 1.32% | 8.88% | 2.55% | 6.12% | 10.45% | 5.22% | 4.10% | 6.92% |
Frequently Asked Questions
With a correlation of 0.98, BSMAX and SWSSX 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.
BSMAX has higher volatility (3.46%) compared to SWSSX (3.21%). In terms of maximum drawdown, BSMAX dropped -41.38% vs SWSSX's -60.34%.
SWSSX currently has the higher Sharpe Ratio (1.66 vs 1.59), 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.
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