GTN vs. SWLGX

Last updated Jun 26, 2026

GTN (Gray Television, Inc.) is a stock, while SWLGX (Schwab U.S. Large-Cap Growth Index Fund) is Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Over the past 5 years, GTN returned -28.19%/yr vs 13.05%/yr for SWLGX. At a 0.32 correlation, their price movements are largely independent.

Performance

GTN vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Gray Television, Inc. (GTN) 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, GTN achieves a -23.22% return, which is significantly lower than SWLGX's 1.43% return.

GTN

• 1D: -9.37%
• 1M: -10.21%
• YTD: -23.22%
• 6M: -24.47%
• 1Y: -15.38%
• 3Y*: -16.23%
• 5Y*: -28.19%
• 10Y*: -8.08%

SWLGX

• 1D: -0.11%
• 1M: -4.61%
• YTD: 1.43%
• 6M: -0.06%
• 1Y: 15.85%
• 3Y*: 21.90%
• 5Y*: 13.05%
• 10Y*: —

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

GTN vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GTN Gray Television, Inc.	-23.22%	64.58%	-62.40%	-16.72%	-43.43%	14.39%	-16.56%	45.45%	-12.00%	-0.30%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	1.43%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between GTN and SWLGX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.20
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.32

The correlation between GTN and SWLGX shifts across timeframes, from 0.20 (3 years) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

GTN vs. SWLGX — Risk / Return Rank

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

GTN

GTN Risk / Return Rank: 33
GTN Sharpe Ratio Rank: 33
GTN Sortino Ratio Rank: 35
GTN Omega Ratio Rank: 34
GTN Calmar Ratio Rank: 31
GTN Martin Ratio Rank: 30

SWLGX

SWLGX Risk / Return Rank: 16
SWLGX Sharpe Ratio Rank: 18
SWLGX Sortino Ratio Rank: 17
SWLGX Omega Ratio Rank: 18
SWLGX Calmar Ratio Rank: 14
SWLGX Martin Ratio Rank: 15

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.

GTN vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Gray Television, Inc. (GTN) 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.

	GTN	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	-0.24	1.01	-1.25
Sortino ratio: Return per unit of downside risk	0.09	1.44	-1.35
Omega ratio: Gain probability vs. loss probability	1.01	1.18	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.38	1.01	-1.39
Martin ratio: Return relative to average drawdown	-0.73	3.29	-4.02

GTN vs. SWLGX - Sharpe Ratio Comparison

The current GTN Sharpe Ratio is -0.24, which is lower than the SWLGX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of GTN 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

GTN vs. SWLGX - Drawdown Comparison

The maximum GTN drawdown since its inception was -98.61%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for GTN and SWLGX.

Drawdown Indicators

	GTN	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-98.61%	-32.69%	-65.92%
Max Drawdown (1Y) Largest decline over 1 year	-41.06%	-16.16%	-24.90%
Max Drawdown (3Y) Largest decline over 3 years	-69.13%	-23.30%	-45.83%
Max Drawdown (5Y) Largest decline over 5 years	-86.60%	-32.69%	-53.91%
Max Drawdown (10Y) Largest decline over 10 years	-86.60%	—	—
Current Drawdown Current decline from peak	-82.04%	-6.96%	-75.08%
Average Drawdown Average peak-to-trough decline	-44.92%	-7.04%	-37.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	21.04%	4.95%	+16.09%

Volatility

GTN vs. SWLGX - Volatility Comparison

Gray Television, Inc. (GTN) has a higher volatility of 14.78% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 6.08%. This indicates that GTN's price experiences larger fluctuations and is considered to be riskier than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GTN	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.78%	6.08%	+8.70%
Volatility (6M) Calculated over the trailing 6-month period	47.42%	12.58%	+34.84%
Volatility (1Y) Calculated over the trailing 1-year period	64.59%	16.24%	+48.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	60.25%	21.62%	+38.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.26%	22.68%	+32.58%

Dividends

GTN vs. SWLGX - Dividend Comparison

GTN's dividend yield for the trailing twelve months is around 8.94%, more than SWLGX's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
GTN Gray Television, Inc.	8.94%	6.61%	10.16%	3.57%	2.86%	1.59%	0.00%	0.00%	0.00%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.45%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%

Frequently Asked Questions

Can I hold both GTN and SWLGX in my portfolio?

GTN and SWLGX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GTN or SWLGX?

GTN has higher volatility (14.78%) compared to SWLGX (6.08%). In terms of maximum drawdown, GTN dropped -98.61% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.01 vs -0.24), 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.