SFENX vs. SWDSX

Last updated Aug 1, 2026

SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) and SWDSX (Schwab Dividend Equity Fund™) are both mutual funds - SFENX is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index, while SWDSX is a Large Cap Value Equities fund actively managed by Charles Schwab. SFENX is passively managed, while SWDSX is actively managed. Over the past 10 years, SFENX returned 9.83%/yr vs 9.35%/yr for SWDSX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. SFENX charges 0.39%/yr vs 0.89%/yr for SWDSX.

Performance

SFENX vs. SWDSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and Schwab Dividend Equity Fund™ (SWDSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFENX achieves a 13.49% return, which is significantly higher than SWDSX's 11.28% return. Both investments have delivered pretty close results over the past 10 years, with SFENX having a 9.83% annualized return and SWDSX not far behind at 9.35%.

SFENX

• 1D: 1.90%
• 1M: 3.71%
• 6M: 5.58%
• YTD: 13.49%
• 1Y: 27.98%
• 3Y*: 17.96%
• 5Y*: 10.51%
• 10Y*: 9.83%
• ALL TIME*: 8.18%

SWDSX

• 1D: -0.20%
• 1M: 1.59%
• 6M: 6.81%
• YTD: 11.28%
• 1Y: 17.46%
• 3Y*: 14.51%
• 5Y*: 9.63%
• 10Y*: 9.35%
• ALL TIME*: 8.65%

*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)
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	$0.00	$0.00	$0.00
SWDSX Schwab Dividend Equity Fund™	$0.00	$0.00	$0.00

SFENX vs. SWDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	13.49%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%
SWDSX Schwab Dividend Equity Fund™	11.28%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	15.40%

Correlation

The correlation between SFENX and SWDSX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.47
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.64

Over the past year, the correlation between SFENX and SWDSX has dropped to 0.29 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

SFENX vs. SWDSX — Risk / Return Rank

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

SFENX

SFENX Risk / Return Rank: 76
SFENX Sharpe Ratio Rank: 78
SFENX Sortino Ratio Rank: 74
SFENX Omega Ratio Rank: 76
SFENX Calmar Ratio Rank: 83
SFENX Martin Ratio Rank: 67

SWDSX

SWDSX Risk / Return Rank: 75
SWDSX Sharpe Ratio Rank: 74
SWDSX Sortino Ratio Rank: 71
SWDSX Omega Ratio Rank: 73
SWDSX Calmar Ratio Rank: 80
SWDSX Martin Ratio Rank: 75

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.

SFENX vs. SWDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) and Schwab Dividend Equity Fund™ (SWDSX). 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.

	SFENX	SWDSX	Difference
Sharpe ratio: Return per unit of total volatility	1.80	1.68	+0.12
Sortino ratio: Return per unit of downside risk	2.46	2.34	+0.12
Omega ratio: Gain probability vs. loss probability	1.32	1.31	+0.01
Calmar ratio: Return relative to maximum drawdown	2.73	2.59	+0.14
Martin ratio: Return relative to average drawdown	8.14	8.82	-0.68

SFENX vs. SWDSX - Sharpe Ratio Comparison

The current SFENX Sharpe Ratio is 1.80, which is comparable to the SWDSX Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of SFENX and SWDSX, 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

SFENX vs. SWDSX - Drawdown Comparison

The maximum SFENX drawdown since its inception was -47.19%, smaller than the maximum SWDSX drawdown of -50.01%. Use the drawdown chart below to compare losses from any high point for SFENX and SWDSX.

Drawdown Indicators

	SFENX	SWDSX	Difference
Max Drawdown Largest peak-to-trough decline	-47.19%	-50.01%	+2.82%
Max Drawdown (1Y) Largest decline over 1 year	-9.45%	-6.16%	-3.29%
Max Drawdown (3Y) Largest decline over 3 years	-16.51%	-11.67%	-4.84%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-17.94%	-11.32%
Max Drawdown (10Y) Largest decline over 10 years	-39.59%	-40.20%	+0.61%
Current Drawdown Current decline from peak	-3.23%	-1.05%	-2.18%
Average Drawdown Average peak-to-trough decline	-12.81%	-6.74%	-6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	1.81%	+1.35%

Volatility

SFENX vs. SWDSX - Volatility Comparison

Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) has a higher volatility of 4.35% compared to Schwab Dividend Equity Fund™ (SWDSX) at 3.04%. This indicates that SFENX's price experiences larger fluctuations and is considered to be riskier than SWDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFENX	SWDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	3.04%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	11.98%	6.63%	+5.35%
Volatility (1Y) Calculated over the trailing 1-year period	14.34%	9.52%	+4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	13.08%	+2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	16.80%	-0.01%

SFENX vs. SWDSX - Expense Ratio Comparison

SFENX has a 0.39% expense ratio, which is lower than SWDSX's 0.89% expense ratio.

Dividends

SFENX vs. SWDSX - Dividend Comparison

SFENX's dividend yield for the trailing twelve months is around 3.46%, more than SWDSX's 1.10% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.46%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%
SWDSX Schwab Dividend Equity Fund™	1.10%	1.22%	2.59%	2.25%	6.83%	16.25%	2.09%	6.86%	11.63%	10.24%	1.68%	14.46%

Frequently Asked Questions

Can I hold both SFENX and SWDSX in my portfolio?

SFENX and SWDSX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SFENX or SWDSX?

SFENX has higher volatility (4.35%) compared to SWDSX (3.04%). In terms of maximum drawdown, SFENX dropped -47.19% vs SWDSX's -50.01%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (1.80 vs 1.68), 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.