DCCIX vs. SWSSX

Last updated Jul 16, 2026

DCCIX (Delaware Small Cap Core Fund) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both Small Cap Blend Equities funds. Over the past 10 years, DCCIX returned 10.40%/yr vs 10.93%/yr for SWSSX. With a 0.96 correlation, they move nearly in lockstep. DCCIX charges 0.81%/yr vs 0.04%/yr for SWSSX.

Performance

DCCIX vs. SWSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Small Cap Core Fund (DCCIX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DCCIX achieves a 18.15% return, which is significantly lower than SWSSX's 20.19% return. Over the past 10 years, DCCIX has underperformed SWSSX with an annualized return of 10.40%, while SWSSX has yielded a comparatively higher 10.93% annualized return.

DCCIX

• 1D: 0.36%
• 1M: 1.01%
• 6M: 13.89%
• YTD: 18.15%
• 1Y: 27.69%
• 3Y*: 12.76%
• 5Y*: 7.16%
• 10Y*: 10.40%

SWSSX

• 1D: 0.38%
• 1M: 0.04%
• 6M: 12.48%
• YTD: 20.19%
• 1Y: 36.13%
• 3Y*: 17.01%
• 5Y*: 7.75%
• 10Y*: 10.93%

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

DCCIX vs. SWSSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DCCIX Delaware Small Cap Core Fund	18.15%	4.59%	10.27%	14.65%	-15.94%	23.23%	14.81%	26.04%	-11.82%	14.06%
SWSSX Schwab Small-Cap Index Fund-Select Shares	20.19%	12.88%	11.57%	17.07%	-20.43%	14.77%	20.12%	25.63%	-11.19%	14.76%

Correlation

The correlation between DCCIX and SWSSX 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	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 28, 1998	0.96

The correlation between DCCIX and SWSSX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

DCCIX vs. SWSSX — Risk / Return Rank

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

DCCIX

DCCIX Risk / Return Rank: 52
DCCIX Sharpe Ratio Rank: 47
DCCIX Sortino Ratio Rank: 52
DCCIX Omega Ratio Rank: 42
DCCIX Calmar Ratio Rank: 66
DCCIX Martin Ratio Rank: 53

SWSSX

SWSSX Risk / Return Rank: 68
SWSSX Sharpe Ratio Rank: 64
SWSSX Sortino Ratio Rank: 64
SWSSX Omega Ratio Rank: 51
SWSSX Calmar Ratio Rank: 83
SWSSX Martin Ratio Rank: 78

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.

DCCIX vs. SWSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Small Cap Core Fund (DCCIX) 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.

	DCCIX	SWSSX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.72	-0.21
Sortino ratio: Return per unit of downside risk	2.28	2.46	-0.18
Omega ratio: Gain probability vs. loss probability	1.26	1.29	-0.03
Calmar ratio: Return relative to maximum drawdown	2.45	3.05	-0.60
Martin ratio: Return relative to average drawdown	8.40	10.80	-2.39

DCCIX vs. SWSSX - Sharpe Ratio Comparison

The current DCCIX Sharpe Ratio is 1.52, which is comparable to the SWSSX Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of DCCIX and SWSSX, 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

DCCIX vs. SWSSX - Drawdown Comparison

The maximum DCCIX drawdown since its inception was -59.44%, roughly equal to the maximum SWSSX drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for DCCIX and SWSSX.

Drawdown Indicators

	DCCIX	SWSSX	Difference
Max Drawdown Largest peak-to-trough decline	-59.44%	-60.34%	+0.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-11.00%	+0.65%
Max Drawdown (3Y) Largest decline over 3 years	-26.47%	-27.50%	+1.03%
Max Drawdown (5Y) Largest decline over 5 years	-26.71%	-31.93%	+5.22%
Max Drawdown (10Y) Largest decline over 10 years	-39.44%	-41.81%	+2.37%
Current Drawdown Current decline from peak	-1.91%	-1.95%	+0.04%
Average Drawdown Average peak-to-trough decline	-9.26%	-10.69%	+1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.02%	3.11%	-0.09%

Volatility

DCCIX vs. SWSSX - Volatility Comparison

Delaware Small Cap Core Fund (DCCIX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX) have volatilities of 3.86% and 3.83%, 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.

Volatility by Period

	DCCIX	SWSSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.86%	3.83%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	12.25%	14.19%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	19.50%	-2.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.98%	22.62%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.10%	24.06%	-1.96%

DCCIX vs. SWSSX - Expense Ratio Comparison

DCCIX has a 0.81% expense ratio, which is higher than SWSSX's 0.04% expense ratio.

Dividends

DCCIX vs. SWSSX - Dividend Comparison

DCCIX's dividend yield for the trailing twelve months is around 3.73%, more than SWSSX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DCCIX Delaware Small Cap Core Fund	3.73%	4.40%	1.18%	4.17%	3.82%	6.35%	0.40%	2.03%	10.74%	7.97%	1.11%	3.11%
SWSSX Schwab Small-Cap Index Fund-Select Shares	1.07%	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

Can I hold both DCCIX and SWSSX in my portfolio?

With a correlation of 0.93, DCCIX 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.

Which is riskier, DCCIX or SWSSX?

DCCIX has higher volatility (3.86%) compared to SWSSX (3.83%). In terms of maximum drawdown, DCCIX dropped -59.44% vs SWSSX's -60.34%.

Which has better risk-adjusted returns?

SWSSX currently has the higher Sharpe Ratio (1.72 vs 1.52), 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.