MCGFX vs. SWLGX

Last updated Jun 26, 2026

MCGFX (AMG Montrusco Bolton Large Cap Growth Fund) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, MCGFX returned 3.36%/yr vs 13.05%/yr for SWLGX. Their correlation of 0.93 suggests significant overlap in exposure. MCGFX charges 0.91%/yr vs 0.04%/yr for SWLGX.

Performance

MCGFX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG Montrusco Bolton Large Cap Growth Fund (MCGFX) 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, MCGFX achieves a 17.27% return, which is significantly higher than SWLGX's 1.43% return.

MCGFX

• 1D: 1.22%
• 1M: 3.75%
• YTD: 17.27%
• 6M: 13.94%
• 1Y: -11.51%
• 3Y*: 6.97%
• 5Y*: 3.36%
• 10Y*: 11.12%

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)

MCGFX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCGFX AMG Montrusco Bolton Large Cap Growth Fund	17.27%	-19.12%	14.37%	34.16%	-27.05%	25.78%	31.91%	32.61%	-1.47%	-1.16%
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 MCGFX and SWLGX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.86
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	0.93

Over the past year, the correlation between MCGFX and SWLGX has dropped to 0.72 - well below their long-term average of 0.93, suggesting their price drivers have been diverging.

Return for Risk

MCGFX vs. SWLGX — Risk / Return Rank

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

MCGFX

MCGFX Risk / Return Rank: 2
MCGFX Sharpe Ratio Rank: 2
MCGFX Sortino Ratio Rank: 3
MCGFX Omega Ratio Rank: 2
MCGFX Calmar Ratio Rank: 2
MCGFX Martin Ratio Rank: 2

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.

MCGFX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG Montrusco Bolton Large Cap Growth Fund (MCGFX) 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.

	MCGFX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	-0.31	1.01	-1.32
Sortino ratio: Return per unit of downside risk	-0.12	1.44	-1.56
Omega ratio: Gain probability vs. loss probability	0.97	1.18	-0.21
Calmar ratio: Return relative to maximum drawdown	-0.31	1.01	-1.32
Martin ratio: Return relative to average drawdown	-0.55	3.29	-3.84

MCGFX vs. SWLGX - Sharpe Ratio Comparison

The current MCGFX Sharpe Ratio is -0.31, which is lower than the SWLGX Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of MCGFX 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

MCGFX vs. SWLGX - Drawdown Comparison

The maximum MCGFX drawdown since its inception was -45.56%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for MCGFX and SWLGX.

Drawdown Indicators

	MCGFX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-45.56%	-32.69%	-12.87%
Max Drawdown (1Y) Largest decline over 1 year	-35.89%	-16.16%	-19.73%
Max Drawdown (3Y) Largest decline over 3 years	-35.89%	-23.30%	-12.59%
Max Drawdown (5Y) Largest decline over 5 years	-35.89%	-32.69%	-3.20%
Max Drawdown (10Y) Largest decline over 10 years	-35.89%	—	—
Current Drawdown Current decline from peak	-20.48%	-6.96%	-13.52%
Average Drawdown Average peak-to-trough decline	-10.69%	-7.04%	-3.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.24%	4.95%	+15.29%

Volatility

MCGFX vs. SWLGX - Volatility Comparison

AMG Montrusco Bolton Large Cap Growth Fund (MCGFX) has a higher volatility of 7.06% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 6.08%. This indicates that MCGFX'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

	MCGFX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.06%	6.08%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	15.11%	12.58%	+2.53%
Volatility (1Y) Calculated over the trailing 1-year period	36.45%	16.24%	+20.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.31%	21.62%	+3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.51%	22.68%	-0.17%

MCGFX vs. SWLGX - Expense Ratio Comparison

MCGFX has a 0.91% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

MCGFX vs. SWLGX - Dividend Comparison

MCGFX has not paid dividends to shareholders, while SWLGX's dividend yield for the trailing twelve months is around 0.45%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCGFX AMG Montrusco Bolton Large Cap Growth Fund	0.00%	0.00%	10.27%	3.66%	10.96%	78.35%	16.87%	9.08%	25.33%	9.88%	11.33%	33.82%
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%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCGFX and SWLGX in my portfolio?

MCGFX and SWLGX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCGFX or SWLGX?

MCGFX has higher volatility (7.06%) compared to SWLGX (6.08%). In terms of maximum drawdown, MCGFX dropped -45.56% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.01 vs -0.31), 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.