SCMBX vs. SWLGX

Last updated Jun 23, 2026

SCMBX (DWS Managed Municipal Bond Fund) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both mutual funds - SCMBX is a Municipal Bonds fund managed by BlackRock, while SWLGX is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Over the past 5 years, SCMBX returned 0.11%/yr vs 14.30%/yr for SWLGX. At a 0.07 correlation, their price movements are largely independent. SCMBX charges 0.54%/yr vs 0.04%/yr for SWLGX.

Performance

SCMBX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Managed Municipal Bond Fund (SCMBX) 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, SCMBX achieves a 1.89% return, which is significantly lower than SWLGX's 4.51% return.

SCMBX

• 1D: 0.12%
• 1M: 1.64%
• YTD: 1.89%
• 6M: 2.39%
• 1Y: 6.78%
• 3Y*: 3.73%
• 5Y*: 0.11%
• 10Y*: 1.78%

SWLGX

• 1D: 1.38%
• 1M: -1.24%
• YTD: 4.51%
• 6M: 3.85%
• 1Y: 22.81%
• 3Y*: 22.68%
• 5Y*: 14.30%
• 10Y*: —

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

SCMBX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCMBX DWS Managed Municipal Bond Fund	1.89%	3.21%	2.52%	6.64%	-12.83%	2.09%	4.72%	8.93%	0.21%	0.48%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	4.51%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between SCMBX and SWLGX is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.07

The correlation between SCMBX and SWLGX shifts across timeframes, from 0.07 (all time) to 0.19 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SCMBX vs. SWLGX — Risk / Return Rank

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

SCMBX

SCMBX Risk / Return Rank: 64
SCMBX Sharpe Ratio Rank: 74
SCMBX Sortino Ratio Rank: 81
SCMBX Omega Ratio Rank: 87
SCMBX Calmar Ratio Rank: 41
SCMBX Martin Ratio Rank: 36

SWLGX

SWLGX Risk / Return Rank: 22
SWLGX Sharpe Ratio Rank: 26
SWLGX Sortino Ratio Rank: 24
SWLGX Omega Ratio Rank: 25
SWLGX Calmar Ratio Rank: 17
SWLGX Martin Ratio Rank: 19

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.

SCMBX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Managed Municipal Bond Fund (SCMBX) 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.

	SCMBX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	2.29	1.38	+0.92
Sortino ratio: Return per unit of downside risk	3.52	1.90	+1.62
Omega ratio: Gain probability vs. loss probability	1.57	1.24	+0.32
Calmar ratio: Return relative to maximum drawdown	2.31	1.38	+0.94
Martin ratio: Return relative to average drawdown	7.63	4.53	+3.10

SCMBX vs. SWLGX - Sharpe Ratio Comparison

The current SCMBX Sharpe Ratio is 2.29, which is higher than the SWLGX Sharpe Ratio of 1.38. The chart below compares the historical Sharpe Ratios of SCMBX 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

SCMBX vs. SWLGX - Drawdown Comparison

The maximum SCMBX drawdown since its inception was -18.17%, smaller than the maximum SWLGX drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for SCMBX and SWLGX.

Drawdown Indicators

	SCMBX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-18.17%	-32.69%	+14.52%
Max Drawdown (1Y) Largest decline over 1 year	-2.96%	-16.16%	+13.20%
Max Drawdown (3Y) Largest decline over 3 years	-7.02%	-23.30%	+16.28%
Max Drawdown (5Y) Largest decline over 5 years	-18.17%	-32.69%	+14.52%
Max Drawdown (10Y) Largest decline over 10 years	-18.17%	—	—
Current Drawdown Current decline from peak	-0.32%	-4.13%	+3.81%
Average Drawdown Average peak-to-trough decline	-2.22%	-7.04%	+4.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.89%	4.90%	-4.01%

Volatility

SCMBX vs. SWLGX - Volatility Comparison

The current volatility for DWS Managed Municipal Bond Fund (SCMBX) is 0.79%, while Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a volatility of 5.94%. This indicates that SCMBX experiences smaller price fluctuations and is considered to be less risky than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCMBX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.79%	5.94%	-5.15%
Volatility (6M) Calculated over the trailing 6-month period	2.28%	12.68%	-10.40%
Volatility (1Y) Calculated over the trailing 1-year period	2.98%	16.14%	-13.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.41%	21.60%	-17.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.32%	22.69%	-18.37%

SCMBX vs. SWLGX - Expense Ratio Comparison

SCMBX has a 0.54% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

SCMBX vs. SWLGX - Dividend Comparison

SCMBX's dividend yield for the trailing twelve months is around 3.74%, more than SWLGX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCMBX DWS Managed Municipal Bond Fund	3.74%	4.46%	3.49%	2.64%	2.36%	3.27%	3.57%	4.32%	3.42%	3.31%	3.87%	3.99%
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 SCMBX and SWLGX in my portfolio?

SCMBX and SWLGX have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCMBX or SWLGX?

SWLGX has higher volatility (5.94%) compared to SCMBX (0.79%). In terms of maximum drawdown, SCMBX dropped -18.17% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SCMBX currently has the higher Sharpe Ratio (2.29 vs 1.38), 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.