MISIX vs. SWISX

Last updated Jul 11, 2026

MISIX (Victory Trivalent International Small-Cap Fund Class I) and SWISX (Schwab International Index Fund) are both mutual funds - MISIX is a Mid Cap Blend Equities fund managed by Victory, while SWISX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net). Over the past 10 years, MISIX returned 10.34%/yr vs 9.55%/yr for SWISX. Their correlation of 0.91 suggests significant overlap in exposure. MISIX charges 0.97%/yr vs 0.06%/yr for SWISX.

Performance

MISIX vs. SWISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Victory Trivalent International Small-Cap Fund Class I (MISIX) and Schwab International Index Fund (SWISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MISIX achieves a 9.36% return, which is significantly lower than SWISX's 10.45% return. Over the past 10 years, MISIX has outperformed SWISX with an annualized return of 10.34%, while SWISX has yielded a comparatively lower 9.55% annualized return.

MISIX

• 1D: 0.56%
• 1M: -2.56%
• 6M: 5.79%
• YTD: 9.36%
• 1Y: 22.21%
• 3Y*: 19.66%
• 5Y*: 7.61%
• 10Y*: 10.34%

SWISX

• 1D: 0.25%
• 1M: 0.83%
• 6M: 6.62%
• YTD: 10.45%
• 1Y: 21.30%
• 3Y*: 17.36%
• 5Y*: 9.01%
• 10Y*: 9.55%

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

MISIX vs. SWISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MISIX Victory Trivalent International Small-Cap Fund Class I	9.36%	42.00%	4.70%	15.49%	-23.13%	12.41%	15.42%	27.88%	-20.20%	37.14%
SWISX Schwab International Index Fund	10.45%	31.59%	3.54%	18.13%	-14.30%	11.25%	8.14%	21.87%	-13.38%	25.32%

Correlation

The correlation between MISIX and SWISX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.92
Correlation (All Time) Calculated using the full available price history since Aug 20, 2007	0.91

The correlation between MISIX and SWISX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

MISIX vs. SWISX — Risk / Return Rank

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

MISIX

MISIX Risk / Return Rank: 33
MISIX Sharpe Ratio Rank: 34
MISIX Sortino Ratio Rank: 34
MISIX Omega Ratio Rank: 35
MISIX Calmar Ratio Rank: 29
MISIX Martin Ratio Rank: 33

SWISX

SWISX Risk / Return Rank: 35
SWISX Sharpe Ratio Rank: 34
SWISX Sortino Ratio Rank: 34
SWISX Omega Ratio Rank: 34
SWISX Calmar Ratio Rank: 35
SWISX Martin Ratio Rank: 39

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.

MISIX vs. SWISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Victory Trivalent International Small-Cap Fund Class I (MISIX) and Schwab International Index Fund (SWISX). 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.

	MISIX	SWISX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.28	0.00
Sortino ratio: Return per unit of downside risk	1.84	1.86	-0.02
Omega ratio: Gain probability vs. loss probability	1.24	1.23	+0.01
Calmar ratio: Return relative to maximum drawdown	1.54	1.78	-0.24
Martin ratio: Return relative to average drawdown	5.78	6.65	-0.87

MISIX vs. SWISX - Sharpe Ratio Comparison

The current MISIX Sharpe Ratio is 1.28, which is comparable to the SWISX Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of MISIX and SWISX, 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

MISIX vs. SWISX - Drawdown Comparison

The maximum MISIX drawdown since its inception was -67.61%, which is greater than SWISX's maximum drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for MISIX and SWISX.

Drawdown Indicators

	MISIX	SWISX	Difference
Max Drawdown Largest peak-to-trough decline	-67.61%	-60.65%	-6.96%
Max Drawdown (1Y) Largest decline over 1 year	-13.84%	-11.39%	-2.45%
Max Drawdown (3Y) Largest decline over 3 years	-14.15%	-13.68%	-0.47%
Max Drawdown (5Y) Largest decline over 5 years	-37.69%	-29.42%	-8.27%
Max Drawdown (10Y) Largest decline over 10 years	-41.82%	-33.83%	-7.99%
Current Drawdown Current decline from peak	-5.11%	-1.12%	-3.99%
Average Drawdown Average peak-to-trough decline	-16.79%	-14.76%	-2.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	3.05%	+0.64%

Volatility

MISIX vs. SWISX - Volatility Comparison

Victory Trivalent International Small-Cap Fund Class I (MISIX) has a higher volatility of 5.96% compared to Schwab International Index Fund (SWISX) at 5.24%. This indicates that MISIX's price experiences larger fluctuations and is considered to be riskier than SWISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MISIX	SWISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.96%	5.24%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	14.48%	13.35%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	16.67%	15.83%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.11%	16.40%	+1.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	16.60%	+1.11%

MISIX vs. SWISX - Expense Ratio Comparison

MISIX has a 0.97% expense ratio, which is higher than SWISX's 0.06% expense ratio.

Dividends

MISIX vs. SWISX - Dividend Comparison

MISIX's dividend yield for the trailing twelve months is around 5.53%, more than SWISX's 3.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MISIX Victory Trivalent International Small-Cap Fund Class I	5.53%	6.05%	2.27%	1.90%	1.12%	8.61%	0.41%	1.99%	3.59%	1.85%	1.56%	1.21%
SWISX Schwab International Index Fund	3.21%	3.55%	3.29%	3.31%	2.73%	3.34%	1.88%	3.09%	3.15%	2.71%	3.19%	2.71%

Frequently Asked Questions

Can I hold both MISIX and SWISX in my portfolio?

MISIX and SWISX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MISIX or SWISX?

MISIX has higher volatility (5.96%) compared to SWISX (5.24%). In terms of maximum drawdown, MISIX dropped -67.61% vs SWISX's -60.65%.

Which has better risk-adjusted returns?

SWISX currently has the higher Sharpe Ratio (1.28 vs 1.28), 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.