DFCFX vs. SWSBX

Last updated Apr 1, 2026

Compare and contrast key facts about DFA Two-Year Fixed Income Portfolio (DFCFX) and Schwab Short-Term Bond Index Fund (SWSBX).

DFCFX is managed by Dimensional. It was launched on Jun 6, 1996. SWSBX is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Government/Credit 1-5 Year Index. It was launched on Feb 23, 2017.

Performance

DFCFX vs. SWSBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Two-Year Fixed Income Portfolio (DFCFX) and Schwab Short-Term Bond Index Fund (SWSBX). The values are adjusted to include any dividend payments, if applicable.

DFCFX vs. SWSBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DFCFX DFA Two-Year Fixed Income Portfolio	0.89%	2.28%	5.33%	4.92%	-3.28%	8.60%	0.57%	2.65%	1.78%	0.61%
SWSBX Schwab Short-Term Bond Index Fund	-0.27%	6.06%	3.42%	3.95%	-5.89%	-1.28%	4.47%	4.96%	1.34%	0.85%

Returns By Period

In the year-to-date period, DFCFX achieves a 0.89% return, which is significantly higher than SWSBX's -0.27% return.

DFCFX

• 1D: 0.06%
• 1M: 0.26%
• YTD: 0.89%
• 6M: 1.87%
• 1Y: 3.08%
• 3Y*: 4.06%
• 5Y*: 3.68%
• 10Y*: 2.44%

SWSBX

• 1D: 0.21%
• 1M: -1.23%
• YTD: -0.27%
• 6M: 0.88%
• 1Y: 3.63%
• 3Y*: 3.74%
• 5Y*: 1.25%
• 10Y*: —

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

DFCFX vs. SWSBX - Expense Ratio Comparison

DFCFX has a 0.21% expense ratio, which is higher than SWSBX's 0.06% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

DFCFX

DFA Two-Year Fixed Income Portfolio

SWSBX

Schwab Short-Term Bond Index Fund

Return for Risk

DFCFX vs. SWSBX — Risk / Return Rank

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

DFCFX

DFCFX Risk / Return Rank: 86
DFCFX Sharpe Ratio Rank: 97
DFCFX Sortino Ratio Rank: 94
DFCFX Omega Ratio Rank: 100
DFCFX Calmar Ratio Rank: 84
DFCFX Martin Ratio Rank: 58

SWSBX

SWSBX Risk / Return Rank: 90
SWSBX Sharpe Ratio Rank: 87
SWSBX Sortino Ratio Rank: 93
SWSBX Omega Ratio Rank: 87
SWSBX Calmar Ratio Rank: 92
SWSBX Martin Ratio Rank: 90

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.

DFCFX vs. SWSBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Two-Year Fixed Income Portfolio (DFCFX) and Schwab Short-Term Bond Index Fund (SWSBX). 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.

	DFCFX	SWSBX	Difference
Sharpe ratio Return per unit of total volatility	2.59	1.71	+0.88
Sortino ratio Return per unit of downside risk	2.98	2.83	+0.15
Omega ratio Gain probability vs. loss probability	3.80	1.36	+2.44
Calmar ratio Return relative to maximum drawdown	2.07	2.79	-0.71
Martin ratio Return relative to average drawdown	5.56	10.25	-4.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFCFX vs. SWSBX - Sharpe Ratio Comparison

The current DFCFX Sharpe Ratio is 2.59, which is higher than the SWSBX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of DFCFX and SWSBX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DFCFX	SWSBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.59	1.71	+0.88
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.42	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	0.76	+0.58

Correlation

The correlation between DFCFX and SWSBX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

DFCFX vs. SWSBX - Dividend Comparison

DFCFX's dividend yield for the trailing twelve months is around 2.94%, less than SWSBX's 3.79% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFCFX DFA Two-Year Fixed Income Portfolio	2.94%	2.16%	4.90%	3.43%	1.32%	8.29%	0.67%	2.22%	1.87%	1.22%	0.79%	0.53%
SWSBX Schwab Short-Term Bond Index Fund	3.79%	4.09%	3.66%	2.36%	1.11%	0.97%	1.82%	2.41%	2.12%	1.56%	0.00%	0.00%

Drawdowns

DFCFX vs. SWSBX - Drawdown Comparison

The maximum DFCFX drawdown since its inception was -4.27%, smaller than the maximum SWSBX drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for DFCFX and SWSBX.

Drawdown Indicators

	DFCFX	SWSBX	Difference
Max Drawdown Largest peak-to-trough decline	-4.27%	-9.06%	+4.79%
Max Drawdown (1Y) Largest decline over 1 year	-1.03%	-1.54%	+0.51%
Max Drawdown (5Y) Largest decline over 5 years	-4.27%	-9.06%	+4.79%
Max Drawdown (10Y) Largest decline over 10 years	-4.27%	—	—
Current Drawdown Current decline from peak	0.00%	-1.23%	+1.23%
Average Drawdown Average peak-to-trough decline	-0.26%	-1.81%	+1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.42%	-0.04%

Volatility

DFCFX vs. SWSBX - Volatility Comparison

The current volatility for DFA Two-Year Fixed Income Portfolio (DFCFX) is 0.15%, while Schwab Short-Term Bond Index Fund (SWSBX) has a volatility of 0.73%. This indicates that DFCFX experiences smaller price fluctuations and is considered to be less risky than SWSBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFCFX	SWSBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.15%	0.73%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	0.43%	1.49%	-1.06%
Volatility (1Y) Calculated over the trailing 1-year period	1.21%	2.40%	-1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.39%	2.95%	+1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.13%	2.47%	+0.66%