HWLIX vs. SWLVX

Last updated Jun 24, 2026

HWLIX (Hotchkis & Wiley Large Cap Value Fund) and SWLVX (Schwab U.S. Large-Cap Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, HWLIX returned 10.08%/yr vs 11.43%/yr for SWLVX. Their correlation of 0.92 suggests significant overlap in exposure. HWLIX charges 0.95%/yr vs 0.04%/yr for SWLVX.

Performance

HWLIX vs. SWLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Hotchkis & Wiley Large Cap Value Fund (HWLIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HWLIX achieves a 5.16% return, which is significantly lower than SWLVX's 16.67% return.

HWLIX

• 1D: 0.08%
• 1M: -1.64%
• YTD: 5.16%
• 6M: 4.65%
• 1Y: 21.13%
• 3Y*: 16.93%
• 5Y*: 10.08%
• 10Y*: 12.22%

SWLVX

• 1D: 0.58%
• 1M: 3.44%
• YTD: 16.67%
• 6M: 15.95%
• 1Y: 29.76%
• 3Y*: 19.02%
• 5Y*: 11.43%
• 10Y*: —

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

HWLIX vs. SWLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HWLIX Hotchkis & Wiley Large Cap Value Fund	5.16%	18.06%	12.80%	16.92%	-5.31%	28.86%	-0.29%	29.16%	-14.26%	0.69%
SWLVX Schwab U.S. Large-Cap Value Index Fund	16.67%	15.87%	14.36%	11.45%	-7.61%	25.15%	2.64%	26.49%	-8.39%	0.30%

Correlation

The correlation between HWLIX and SWLVX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.92

The correlation between HWLIX and SWLVX shifts across timeframes, from 0.79 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HWLIX vs. SWLVX — Risk / Return Rank

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

HWLIX

HWLIX Risk / Return Rank: 49
HWLIX Sharpe Ratio Rank: 37
HWLIX Sortino Ratio Rank: 38
HWLIX Omega Ratio Rank: 35
HWLIX Calmar Ratio Rank: 79
HWLIX Martin Ratio Rank: 55

SWLVX

SWLVX Risk / Return Rank: 89
SWLVX Sharpe Ratio Rank: 90
SWLVX Sortino Ratio Rank: 87
SWLVX Omega Ratio Rank: 82
SWLVX Calmar Ratio Rank: 91
SWLVX Martin Ratio Rank: 94

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.

HWLIX vs. SWLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Hotchkis & Wiley Large Cap Value Fund (HWLIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). 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.

	HWLIX	SWLVX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.75	-1.13
Sortino ratio: Return per unit of downside risk	2.40	3.83	-1.43
Omega ratio: Gain probability vs. loss probability	1.29	1.50	-0.21
Calmar ratio: Return relative to maximum drawdown	3.40	4.53	-1.13
Martin ratio: Return relative to average drawdown	10.47	18.90	-8.43

HWLIX vs. SWLVX - Sharpe Ratio Comparison

The current HWLIX Sharpe Ratio is 1.62, which is lower than the SWLVX Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of HWLIX and SWLVX, 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

HWLIX vs. SWLVX - Drawdown Comparison

The maximum HWLIX drawdown since its inception was -70.48%, which is greater than SWLVX's maximum drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for HWLIX and SWLVX.

Drawdown Indicators

	HWLIX	SWLVX	Difference
Max Drawdown Largest peak-to-trough decline	-70.48%	-38.34%	-32.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.33%	-6.82%	+0.49%
Max Drawdown (3Y) Largest decline over 3 years	-16.82%	-15.61%	-1.21%
Max Drawdown (5Y) Largest decline over 5 years	-24.69%	-19.05%	-5.64%
Max Drawdown (10Y) Largest decline over 10 years	-46.72%	—	—
Current Drawdown Current decline from peak	-4.21%	-0.05%	-4.16%
Average Drawdown Average peak-to-trough decline	-10.52%	-4.81%	-5.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.63%	+0.42%

Volatility

HWLIX vs. SWLVX - Volatility Comparison

Hotchkis & Wiley Large Cap Value Fund (HWLIX) has a higher volatility of 4.21% compared to Schwab U.S. Large-Cap Value Index Fund (SWLVX) at 3.98%. This indicates that HWLIX's price experiences larger fluctuations and is considered to be riskier than SWLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HWLIX	SWLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.21%	3.98%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	8.69%	+0.56%
Volatility (1Y) Calculated over the trailing 1-year period	13.30%	11.26%	+2.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.12%	14.89%	+3.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.53%	18.54%	+2.99%

HWLIX vs. SWLVX - Expense Ratio Comparison

HWLIX has a 0.95% expense ratio, which is higher than SWLVX's 0.04% expense ratio.

Dividends

HWLIX vs. SWLVX - Dividend Comparison

HWLIX's dividend yield for the trailing twelve months is around 7.72%, more than SWLVX's 1.73% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HWLIX Hotchkis & Wiley Large Cap Value Fund	7.72%	8.12%	11.29%	11.12%	8.48%	0.86%	1.65%	1.62%	3.55%	1.67%	1.94%	1.59%
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.73%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HWLIX and SWLVX in my portfolio?

HWLIX and SWLVX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HWLIX or SWLVX?

HWLIX has higher volatility (4.21%) compared to SWLVX (3.98%). In terms of maximum drawdown, HWLIX dropped -70.48% vs SWLVX's -38.34%.

Which has better risk-adjusted returns?

SWLVX currently has the higher Sharpe Ratio (2.75 vs 1.62), 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.