PRCOX vs. SWPPX
PRCOX (T. Rowe Price U.S. Equity Research Fund) and SWPPX (Schwab S&P 500 Index Fund) are both Large Cap Blend Equities funds. PRCOX is actively managed, while SWPPX is passively managed. Over the past 10 years, PRCOX returned 16.42%/yr vs 15.77%/yr for SWPPX. With a 0.98 correlation, they move nearly in lockstep. PRCOX charges 0.42%/yr vs 0.02%/yr for SWPPX.
Performance
PRCOX vs. SWPPX - Performance Comparison
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Returns By Period
In the year-to-date period, PRCOX achieves a 10.53% return, which is significantly higher than SWPPX's 9.75% return. Both investments have delivered pretty close results over the past 10 years, with PRCOX having a 16.42% annualized return and SWPPX not far behind at 15.77%.
PRCOX
- 1D
- -0.34%
- 1M
- 0.43%
- YTD
- 10.53%
- 6M
- 9.44%
- 1Y
- 25.75%
- 3Y*
- 22.04%
- 5Y*
- 14.15%
- 10Y*
- 16.42%
SWPPX
- 1D
- -0.36%
- 1M
- 0.10%
- YTD
- 9.75%
- 6M
- 8.76%
- 1Y
- 25.48%
- 3Y*
- 21.36%
- 5Y*
- 13.58%
- 10Y*
- 15.77%
PRCOX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRCOX T. Rowe Price U.S. Equity Research Fund | 10.53% | 16.34% | 26.41% | 29.82% | -18.80% | 28.06% | 19.82% | 33.04% | -4.73% | 23.80% |
SWPPX Schwab S&P 500 Index Fund | 9.75% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
Correlation
The correlation between PRCOX and SWPPX is 0.97 - 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 | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.98 |
Correlation (All Time) Calculated using the full available price history since May 20, 1997 | 0.98 |
The correlation between PRCOX and SWPPX has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.
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Return for Risk
PRCOX vs. SWPPX — Risk / Return Rank
PRCOX
SWPPX
PRCOX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. Equity Research Fund (PRCOX) and Schwab S&P 500 Index Fund (SWPPX). 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.
| PRCOX | SWPPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.39 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.02 | -0.10 |
| Martin ratioReturn relative to average drawdown | 13.20 | 13.59 | -0.39 |
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Drawdowns
PRCOX vs. SWPPX - Drawdown Comparison
The maximum PRCOX drawdown since its inception was -53.96%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for PRCOX and SWPPX.
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Drawdown Indicators
| PRCOX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.96% | -55.06% | +1.10% |
Max Drawdown (1Y)Largest decline over 1 year | -9.32% | -8.89% | -0.43% |
Max Drawdown (3Y)Largest decline over 3 years | -19.39% | -18.74% | -0.65% |
Max Drawdown (5Y)Largest decline over 5 years | -24.94% | -24.51% | -0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -34.42% | -33.80% | -0.62% |
Current DrawdownCurrent decline from peak | -1.38% | -1.74% | +0.36% |
Average DrawdownAverage peak-to-trough decline | -9.17% | -9.93% | +0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.05% | 1.97% | +0.08% |
Volatility
PRCOX vs. SWPPX - Volatility Comparison
T. Rowe Price U.S. Equity Research Fund (PRCOX) and Schwab S&P 500 Index Fund (SWPPX) have volatilities of 4.93% and 4.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRCOX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 4.73% | +0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.32% | 9.87% | +0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.67% | 12.53% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.45% | 17.02% | +0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.41% | 18.27% | +0.14% |
PRCOX vs. SWPPX - Expense Ratio Comparison
PRCOX has a 0.42% expense ratio, which is higher than SWPPX's 0.02% expense ratio.
Dividends
PRCOX vs. SWPPX - Dividend Comparison
PRCOX's dividend yield for the trailing twelve months is around 1.06%, more than SWPPX's 1.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRCOX T. Rowe Price U.S. Equity Research Fund | 1.06% | 1.17% | 0.64% | 1.17% | 1.28% | 3.71% | 1.04% | 1.39% | 5.60% | 7.02% | 7.28% | 8.76% |
SWPPX Schwab S&P 500 Index Fund | 1.01% | 1.11% | 1.23% | 1.43% | 1.67% | 1.27% | 1.81% | 1.95% | 2.67% | 1.79% | 2.55% | 3.17% |
Frequently Asked Questions
With a correlation of 0.97, PRCOX and SWPPX 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.
PRCOX has higher volatility (4.93%) compared to SWPPX (4.73%). In terms of maximum drawdown, PRCOX dropped -53.96% vs SWPPX's -55.06%.
PRCOX currently has the higher Sharpe Ratio (2.15 vs 2.14), 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.
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