CMNWX vs. SWPPX
CMNWX (Principal Capital Appreciation Fund) and SWPPX (Schwab S&P 500 Index Fund) are both Large Cap Blend Equities funds. Over the past 10 years, CMNWX returned 15.53%/yr vs 15.59%/yr for SWPPX. Their correlation of 0.93 suggests significant overlap in exposure. CMNWX charges 0.80%/yr vs 0.02%/yr for SWPPX.
Performance
CMNWX vs. SWPPX - Performance Comparison
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Returns By Period
In the year-to-date period, CMNWX achieves a 7.21% return, which is significantly lower than SWPPX's 8.10% return. Both investments have delivered pretty close results over the past 10 years, with CMNWX having a 15.53% annualized return and SWPPX not far ahead at 15.59%.
CMNWX
- 1D
- -0.08%
- 1M
- -1.81%
- YTD
- 7.21%
- 6M
- 5.81%
- 1Y
- 19.32%
- 3Y*
- 21.49%
- 5Y*
- 13.49%
- 10Y*
- 15.53%
SWPPX
- 1D
- -0.11%
- 1M
- -2.02%
- YTD
- 8.10%
- 6M
- 6.82%
- 1Y
- 22.22%
- 3Y*
- 20.75%
- 5Y*
- 13.03%
- 10Y*
- 15.59%
CMNWX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CMNWX Principal Capital Appreciation Fund | 7.21% | 13.27% | 32.14% | 25.01% | -16.37% | 27.45% | 18.36% | 32.21% | -4.12% | 20.64% |
SWPPX Schwab S&P 500 Index Fund | 8.10% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
Correlation
The correlation between CMNWX and SWPPX is 0.98 - 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 | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since May 20, 1997 | 0.93 |
The correlation between CMNWX and SWPPX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
CMNWX vs. SWPPX — Risk / Return Rank
CMNWX
SWPPX
CMNWX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Principal Capital Appreciation Fund (CMNWX) 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.
| CMNWX | SWPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.39 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.32 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.15 | 2.51 | -0.36 |
| Martin ratioReturn relative to average drawdown | 9.61 | 11.20 | -1.59 |
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Drawdowns
CMNWX vs. SWPPX - Drawdown Comparison
The maximum CMNWX drawdown since its inception was -50.43%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for CMNWX and SWPPX.
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Drawdown Indicators
| CMNWX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.43% | -55.06% | +4.63% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -8.89% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -19.54% | -18.74% | -0.80% |
Max Drawdown (5Y)Largest decline over 5 years | -23.35% | -24.51% | +1.16% |
Max Drawdown (10Y)Largest decline over 10 years | -33.26% | -33.80% | +0.54% |
Current DrawdownCurrent decline from peak | -3.24% | -3.22% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -6.94% | -9.93% | +2.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.99% | 1.99% | 0.00% |
Volatility
CMNWX vs. SWPPX - Volatility Comparison
Principal Capital Appreciation Fund (CMNWX) and Schwab S&P 500 Index Fund (SWPPX) have volatilities of 5.06% and 4.92%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CMNWX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.06% | 4.92% | +0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 10.25% | 9.93% | +0.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.06% | 12.57% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.91% | 17.04% | -0.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.21% | 18.24% | -1.03% |
CMNWX vs. SWPPX - Expense Ratio Comparison
CMNWX has a 0.80% expense ratio, which is higher than SWPPX's 0.02% expense ratio.
Dividends
CMNWX vs. SWPPX - Dividend Comparison
CMNWX's dividend yield for the trailing twelve months is around 8.16%, more than SWPPX's 1.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CMNWX Principal Capital Appreciation Fund | 8.16% | 8.75% | 10.03% | 0.71% | 0.69% | 9.52% | 5.33% | 8.37% | 46.60% | 7.72% | 10.32% | 5.42% |
SWPPX Schwab S&P 500 Index Fund | 1.03% | 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
With a correlation of 0.98, CMNWX and SWPPX 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.
CMNWX has higher volatility (5.06%) compared to SWPPX (4.92%). In terms of maximum drawdown, CMNWX dropped -50.43% vs SWPPX's -55.06%.
SWPPX currently has the higher Sharpe Ratio (1.78 vs 1.47), 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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