MDFGX vs. SWLGX

Last updated Jun 24, 2026

MDFGX (BlackRock Capital Appreciation Fund) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, MDFGX returned 10.35%/yr vs 13.59%/yr for SWLGX. With a 0.97 correlation, they move nearly in lockstep. MDFGX charges 0.97%/yr vs 0.04%/yr for SWLGX.

Performance

MDFGX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Capital Appreciation Fund (MDFGX) 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, MDFGX achieves a 10.66% return, which is significantly higher than SWLGX's 3.19% return.

MDFGX

• 1D: -0.70%
• 1M: 0.10%
• YTD: 10.66%
• 6M: 9.16%
• 1Y: 21.84%
• 3Y*: 23.22%
• 5Y*: 10.35%
• 10Y*: 17.20%

SWLGX

• 1D: -1.26%
• 1M: -2.48%
• YTD: 3.19%
• 6M: 1.92%
• 1Y: 19.96%
• 3Y*: 22.61%
• 5Y*: 13.59%
• 10Y*: —

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

MDFGX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDFGX BlackRock Capital Appreciation Fund	10.66%	12.63%	31.58%	48.77%	-37.83%	20.78%	40.16%	31.89%	1.81%	-0.58%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	3.19%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between MDFGX and SWLGX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.97

The correlation between MDFGX and SWLGX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

MDFGX vs. SWLGX — Risk / Return Rank

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

MDFGX

MDFGX Risk / Return Rank: 20
MDFGX Sharpe Ratio Rank: 23
MDFGX Sortino Ratio Rank: 20
MDFGX Omega Ratio Rank: 22
MDFGX Calmar Ratio Rank: 17
MDFGX Martin Ratio Rank: 20

SWLGX

SWLGX Risk / Return Rank: 21
SWLGX Sharpe Ratio Rank: 25
SWLGX Sortino Ratio Rank: 22
SWLGX Omega Ratio Rank: 23
SWLGX Calmar Ratio Rank: 16
SWLGX Martin Ratio Rank: 18

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.

MDFGX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Capital Appreciation Fund (MDFGX) 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.

	MDFGX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.32	-0.05
Sortino ratio: Return per unit of downside risk	1.75	1.83	-0.08
Omega ratio: Gain probability vs. loss probability	1.23	1.23	-0.01
Calmar ratio: Return relative to maximum drawdown	1.40	1.32	+0.08
Martin ratio: Return relative to average drawdown	4.64	4.34	+0.30

MDFGX vs. SWLGX - Sharpe Ratio Comparison

The current MDFGX Sharpe Ratio is 1.27, which is comparable to the SWLGX Sharpe Ratio of 1.32. The chart below compares the historical Sharpe Ratios of MDFGX 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

MDFGX vs. SWLGX - Drawdown Comparison

The maximum MDFGX drawdown since its inception was -47.99%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for MDFGX and SWLGX.

Drawdown Indicators

	MDFGX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-47.99%	-32.69%	-15.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.74%	-16.16%	-0.58%
Max Drawdown (3Y) Largest decline over 3 years	-24.43%	-23.30%	-1.13%
Max Drawdown (5Y) Largest decline over 5 years	-42.49%	-32.69%	-9.80%
Max Drawdown (10Y) Largest decline over 10 years	-42.49%	—	—
Current Drawdown Current decline from peak	-4.30%	-5.34%	+1.04%
Average Drawdown Average peak-to-trough decline	-11.21%	-7.04%	-4.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.03%	4.91%	+0.12%

Volatility

MDFGX vs. SWLGX - Volatility Comparison

BlackRock Capital Appreciation Fund (MDFGX) has a higher volatility of 7.19% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 5.91%. This indicates that MDFGX'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

	MDFGX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.19%	5.91%	+1.28%
Volatility (6M) Calculated over the trailing 6-month period	14.56%	12.60%	+1.96%
Volatility (1Y) Calculated over the trailing 1-year period	18.40%	16.21%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.61%	21.61%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.61%	22.68%	-0.07%

MDFGX vs. SWLGX - Expense Ratio Comparison

MDFGX has a 0.97% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

MDFGX vs. SWLGX - Dividend Comparison

MDFGX's dividend yield for the trailing twelve months is around 17.63%, more than SWLGX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDFGX BlackRock Capital Appreciation Fund	17.63%	19.51%	12.73%	3.59%	9.46%	12.95%	5.46%	10.67%	14.31%	12.51%	4.01%	11.22%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.44%	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 MDFGX and SWLGX in my portfolio?

With a correlation of 0.96, MDFGX and SWLGX 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, MDFGX or SWLGX?

MDFGX has higher volatility (7.19%) compared to SWLGX (5.91%). In terms of maximum drawdown, MDFGX dropped -47.99% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.32 vs 1.27), 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.