QCELX vs. SWPPX

Last updated Aug 4, 2026

QCELX (AQR Large Cap Multi-Style Fund) and SWPPX (Schwab S&P 500 Index Fund) are both Large Cap Blend Equities funds. Over the past 10 years, QCELX returned 15.03%/yr vs 15.13%/yr for SWPPX. Their 0.96 correlation means they have historically moved very closely together. QCELX charges 0.41%/yr vs 0.02%/yr for SWPPX.

Performance

QCELX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AQR Large Cap Multi-Style Fund (QCELX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QCELX achieves a 18.84% return, which is significantly higher than SWPPX's 10.09% return. Both investments have delivered pretty close results over the past 10 years, with QCELX having a 15.03% annualized return and SWPPX not far ahead at 15.13%.

QCELX

• 1D: 0.59%
• 1M: 2.22%
• 6M: 14.57%
• YTD: 18.84%
• 1Y: 33.67%
• 3Y*: 23.98%
• 5Y*: 15.55%
• 10Y*: 15.03%
• ALL TIME*: 13.02%

SWPPX

• 1D: 0.68%
• 1M: 0.16%
• 6M: 7.94%
• YTD: 10.09%
• 1Y: 21.46%
• 3Y*: 19.39%
• 5Y*: 12.82%
• 10Y*: 15.13%
• ALL TIME*: 9.77%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
QCELX AQR Large Cap Multi-Style Fund	$0.00	$0.00	$0.00
SWPPX Schwab S&P 500 Index Fund	$0.00	$0.00	$0.00

QCELX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QCELX AQR Large Cap Multi-Style Fund	18.84%	23.38%	22.73%	26.30%	-15.73%	27.18%	14.93%	24.33%	-10.96%	22.73%
SWPPX Schwab S&P 500 Index Fund	10.09%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	21.81%

Correlation

The correlation between QCELX and SWPPX is 0.95 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.95
Correlation (3Y) Balances recent behavior with more history.	0.95
Correlation (5Y) Shows whether the relationship held over a longer period.	0.96
Correlation (10Y) Provides a long-term view across more market conditions.	0.96
Correlation (All Time) Calculated using the full available price history since Jan 2, 2014	0.96

The correlation between QCELX and SWPPX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

QCELX vs. SWPPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

QCELX

QCELX Risk / Return Rank: 90
QCELX Sharpe Ratio Rank: 91
QCELX Sortino Ratio Rank: 87
QCELX Omega Ratio Rank: 84
QCELX Calmar Ratio Rank: 93
QCELX Martin Ratio Rank: 96

SWPPX

SWPPX Risk / Return Rank: 59
SWPPX Sharpe Ratio Rank: 55
SWPPX Sortino Ratio Rank: 51
SWPPX Omega Ratio Rank: 52
SWPPX Calmar Ratio Rank: 61
SWPPX Martin Ratio Rank: 73

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

QCELX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AQR Large Cap Multi-Style Fund (QCELX) 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.

	QCELX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.52	+0.82
Sortino ratio: Return per unit of downside risk	3.18	2.11	+1.08
Omega ratio: Gain probability vs. loss probability	1.41	1.27	+0.14
Calmar ratio: Return relative to maximum drawdown	3.97	2.21	+1.77
Martin ratio: Return relative to average drawdown	16.78	9.45	+7.33

QCELX vs. SWPPX - Sharpe Ratio Comparison

The current QCELX Sharpe Ratio is 2.34, which is higher than the SWPPX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of QCELX and SWPPX, 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

QCELX vs. SWPPX - Drawdown Comparison

The maximum QCELX drawdown since its inception was -33.52%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for QCELX and SWPPX.

Drawdown Indicators

	QCELX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-33.52%	-55.06%	+21.54%
Max Drawdown (1Y) Largest decline over 1 year	-7.92%	-8.89%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.38%	-18.74%	+0.36%
Max Drawdown (5Y) Largest decline over 5 years	-28.70%	-24.51%	-4.19%
Max Drawdown (10Y) Largest decline over 10 years	-33.52%	-33.80%	+0.28%
Current Drawdown Current decline from peak	0.00%	-1.43%	+1.43%
Average Drawdown Average peak-to-trough decline	-5.60%	-9.90%	+4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.87%	2.07%	-0.20%

Volatility

QCELX vs. SWPPX - Volatility Comparison

The current volatility for AQR Large Cap Multi-Style Fund (QCELX) is 3.05%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 3.56%. This indicates that QCELX experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QCELX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.05%	3.56%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	10.08%	10.14%	-0.06%
Volatility (1Y) Calculated over the trailing 1-year period	13.42%	12.90%	+0.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.99%	17.04%	+1.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.96%	18.23%	+0.73%

QCELX vs. SWPPX - Expense Ratio Comparison

QCELX has a 0.41% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

QCELX vs. SWPPX - Dividend Comparison

QCELX's dividend yield for the trailing twelve months is around 12.12%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCELX AQR Large Cap Multi-Style Fund	12.12%	14.40%	12.89%	13.67%	11.05%	12.41%	9.94%	5.36%	7.81%	0.99%	1.28%	0.89%
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

Can I hold both QCELX and SWPPX in my portfolio?

With a correlation of 0.95, QCELX 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.

Which is riskier, QCELX or SWPPX?

SWPPX has higher volatility (3.56%) compared to QCELX (3.05%). In terms of maximum drawdown, QCELX dropped -33.52% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

QCELX currently has the higher Sharpe Ratio (2.34 vs 1.52), 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.