RYDVX vs. SWMCX

Last updated Apr 1, 2026

Compare and contrast key facts about Royce Dividend Value Fund (RYDVX) and Schwab U.S. Mid-Cap Index Fund (SWMCX).

RYDVX is managed by Royce Investment Partners. It was launched on May 3, 2004. SWMCX is managed by Charles Schwab. It was launched on Dec 20, 2017.

Performance

RYDVX vs. SWMCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Royce Dividend Value Fund (RYDVX) and Schwab U.S. Mid-Cap Index Fund (SWMCX). The values are adjusted to include any dividend payments, if applicable.

RYDVX vs. SWMCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RYDVX Royce Dividend Value Fund	1.00%	-64.46%	19.41%	23.29%	-13.63%	20.00%	4.45%	30.00%	-16.33%	1.04%
SWMCX Schwab U.S. Mid-Cap Index Fund	-1.32%	10.54%	15.28%	17.20%	-17.31%	22.55%	17.03%	30.46%	-9.16%	0.40%

Returns By Period

In the year-to-date period, RYDVX achieves a 1.00% return, which is significantly higher than SWMCX's -1.32% return.

RYDVX

• 1D: -0.45%
• 1M: -7.80%
• YTD: 1.00%
• 6M: -65.55%
• 1Y: -62.22%
• 3Y*: -20.85%
• 5Y*: -13.26%
• 10Y*: -1.78%

SWMCX

• 1D: -0.70%
• 1M: -7.73%
• YTD: -1.32%
• 6M: -1.19%
• 1Y: 12.94%
• 3Y*: 12.30%
• 5Y*: 6.67%
• 10Y*: —

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

RYDVX vs. SWMCX - Expense Ratio Comparison

RYDVX has a 1.34% expense ratio, which is higher than SWMCX's 0.04% expense ratio.

RYDVX

Royce Dividend Value Fund

SWMCX

Schwab U.S. Mid-Cap Index Fund

Return for Risk

RYDVX vs. SWMCX — Risk / Return Rank

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

RYDVX

RYDVX Risk / Return Rank: 1
RYDVX Sharpe Ratio Rank: 0
RYDVX Sortino Ratio Rank: 1
RYDVX Omega Ratio Rank: 0
RYDVX Calmar Ratio Rank: 0
RYDVX Martin Ratio Rank: 1

SWMCX

SWMCX Risk / Return Rank: 34
SWMCX Sharpe Ratio Rank: 32
SWMCX Sortino Ratio Rank: 33
SWMCX Omega Ratio Rank: 33
SWMCX Calmar Ratio Rank: 31
SWMCX 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.

RYDVX vs. SWMCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royce Dividend Value Fund (RYDVX) and Schwab U.S. Mid-Cap Index Fund (SWMCX). 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.

	RYDVX	SWMCX	Difference
Sharpe ratio Return per unit of total volatility	-0.91	0.72	-1.63
Sortino ratio Return per unit of downside risk	-0.83	1.12	-1.95
Omega ratio Gain probability vs. loss probability	0.68	1.16	-0.48
Calmar ratio Return relative to maximum drawdown	-0.92	0.86	-1.78
Martin ratio Return relative to average drawdown	-1.63	4.04	-5.67
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYDVX vs. SWMCX - Sharpe Ratio Comparison

The current RYDVX Sharpe Ratio is -0.91, which is lower than the SWMCX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of RYDVX and SWMCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RYDVX	SWMCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.91	0.72	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.39	0.37	-0.75
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	-0.06	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.12	0.45	-0.32

Correlation

The correlation between RYDVX and SWMCX is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

RYDVX vs. SWMCX - Dividend Comparison

RYDVX's dividend yield for the trailing twelve months is around 0.99%, less than SWMCX's 2.15% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RYDVX Royce Dividend Value Fund	0.99%	1.36%	21.24%	11.80%	0.57%	14.07%	5.55%	15.61%	14.15%	14.26%	10.48%	11.39%
SWMCX Schwab U.S. Mid-Cap Index Fund	2.15%	2.13%	2.60%	1.49%	1.59%	2.93%	1.45%	2.44%	1.41%	0.00%	0.00%	0.00%

Drawdowns

RYDVX vs. SWMCX - Drawdown Comparison

The maximum RYDVX drawdown since its inception was -68.51%, which is greater than SWMCX's maximum drawdown of -40.34%. Use the drawdown chart below to compare losses from any high point for RYDVX and SWMCX.

Drawdown Indicators

	RYDVX	SWMCX	Difference
Max Drawdown Largest peak-to-trough decline	-68.51%	-40.34%	-28.17%
Max Drawdown (1Y) Largest decline over 1 year	-68.51%	-13.43%	-55.08%
Max Drawdown (5Y) Largest decline over 5 years	-68.51%	-26.09%	-42.42%
Max Drawdown (10Y) Largest decline over 10 years	-68.51%	—	—
Current Drawdown Current decline from peak	-66.69%	-8.15%	-58.54%
Average Drawdown Average peak-to-trough decline	-8.58%	-6.75%	-1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.64%	2.87%	+35.77%

Volatility

RYDVX vs. SWMCX - Volatility Comparison

Royce Dividend Value Fund (RYDVX) has a higher volatility of 5.12% compared to Schwab U.S. Mid-Cap Index Fund (SWMCX) at 4.80%. This indicates that RYDVX's price experiences larger fluctuations and is considered to be riskier than SWMCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RYDVX	SWMCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.12%	4.80%	+0.32%
Volatility (6M) Calculated over the trailing 6-month period	105.46%	10.19%	+95.27%
Volatility (1Y) Calculated over the trailing 1-year period	68.67%	18.96%	+49.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.58%	18.23%	+16.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.35%	20.76%	+7.59%