CAPEX vs. SWLGX

Last updated Jun 24, 2026

CAPEX (Eaton Vance Tax Managed Growth 1.0 Fund) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, CAPEX returned 12.27%/yr vs 13.59%/yr for SWLGX. Their correlation of 0.95 suggests significant overlap in exposure. CAPEX charges 0.45%/yr vs 0.04%/yr for SWLGX.

Performance

CAPEX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Tax Managed Growth 1.0 Fund (CAPEX) 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, CAPEX achieves a 6.96% return, which is significantly higher than SWLGX's 3.19% return.

CAPEX

• 1D: -0.92%
• 1M: -0.84%
• YTD: 6.96%
• 6M: 6.16%
• 1Y: 21.04%
• 3Y*: 20.43%
• 5Y*: 12.27%
• 10Y*: 15.42%

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)

CAPEX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CAPEX Eaton Vance Tax Managed Growth 1.0 Fund	6.96%	16.83%	25.45%	28.62%	-19.92%	25.05%	23.49%	29.70%	-4.95%	-0.49%
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 CAPEX and SWLGX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.95

The correlation between CAPEX and SWLGX has been stable across timeframes, ranging from 0.93 to 0.96 - a consistent structural relationship.

Return for Risk

CAPEX vs. SWLGX — Risk / Return Rank

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

CAPEX

CAPEX Risk / Return Rank: 40
CAPEX Sharpe Ratio Rank: 41
CAPEX Sortino Ratio Rank: 39
CAPEX Omega Ratio Rank: 39
CAPEX Calmar Ratio Rank: 35
CAPEX Martin Ratio Rank: 48

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.

CAPEX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Tax Managed Growth 1.0 Fund (CAPEX) 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.

	CAPEX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.32	+0.41
Sortino ratio: Return per unit of downside risk	2.42	1.83	+0.59
Omega ratio: Gain probability vs. loss probability	1.31	1.23	+0.08
Calmar ratio: Return relative to maximum drawdown	2.11	1.32	+0.79
Martin ratio: Return relative to average drawdown	9.39	4.34	+5.05

CAPEX vs. SWLGX - Sharpe Ratio Comparison

The current CAPEX Sharpe Ratio is 1.73, which is higher than the SWLGX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of CAPEX 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

CAPEX vs. SWLGX - Drawdown Comparison

The maximum CAPEX drawdown since its inception was -51.71%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for CAPEX and SWLGX.

Drawdown Indicators

	CAPEX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-51.71%	-32.69%	-19.02%
Max Drawdown (1Y) Largest decline over 1 year	-10.52%	-16.16%	+5.64%
Max Drawdown (3Y) Largest decline over 3 years	-19.05%	-23.30%	+4.25%
Max Drawdown (5Y) Largest decline over 5 years	-25.87%	-32.69%	+6.82%
Max Drawdown (10Y) Largest decline over 10 years	-32.94%	—	—
Current Drawdown Current decline from peak	-1.98%	-5.34%	+3.36%
Average Drawdown Average peak-to-trough decline	-8.37%	-7.04%	-1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.36%	4.91%	-2.55%

Volatility

CAPEX vs. SWLGX - Volatility Comparison

The current volatility for Eaton Vance Tax Managed Growth 1.0 Fund (CAPEX) is 4.78%, while Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a volatility of 5.91%. This indicates that CAPEX 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

	CAPEX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.78%	5.91%	-1.13%
Volatility (6M) Calculated over the trailing 6-month period	10.29%	12.60%	-2.31%
Volatility (1Y) Calculated over the trailing 1-year period	12.87%	16.21%	-3.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.42%	21.61%	-4.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.40%	22.68%	-4.28%

CAPEX vs. SWLGX - Expense Ratio Comparison

CAPEX has a 0.45% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

CAPEX vs. SWLGX - Dividend Comparison

CAPEX's dividend yield for the trailing twelve months is around 2.99%, more than SWLGX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAPEX Eaton Vance Tax Managed Growth 1.0 Fund	2.99%	3.19%	2.40%	0.83%	0.97%	0.63%	0.88%	1.15%	1.36%	1.20%	1.41%	1.39%
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 CAPEX and SWLGX in my portfolio?

With a correlation of 0.93, CAPEX 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, CAPEX or SWLGX?

SWLGX has higher volatility (5.91%) compared to CAPEX (4.78%). In terms of maximum drawdown, CAPEX dropped -51.71% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

CAPEX currently has the higher Sharpe Ratio (1.73 vs 1.32), 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.