SICNX vs. SWISX

Last updated Jun 24, 2026

SICNX (Schwab International Core Equity Fund) and SWISX (Schwab International Index Fund) are both Foreign Large Cap Equities funds from Charles Schwab. Over the past 10 years, SICNX returned 9.73%/yr vs 10.17%/yr for SWISX. With a 0.98 correlation, they move nearly in lockstep. SICNX charges 0.86%/yr vs 0.06%/yr for SWISX.

Performance

SICNX vs. SWISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab International Core Equity Fund (SICNX) and Schwab International Index Fund (SWISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SICNX achieves a 11.97% return, which is significantly higher than SWISX's 10.79% return. Both investments have delivered pretty close results over the past 10 years, with SICNX having a 9.73% annualized return and SWISX not far ahead at 10.17%.

SICNX

• 1D: 0.18%
• 1M: 2.65%
• YTD: 11.97%
• 6M: 11.67%
• 1Y: 24.76%
• 3Y*: 20.25%
• 5Y*: 10.81%
• 10Y*: 9.73%

SWISX

• 1D: 0.19%
• 1M: 2.18%
• YTD: 10.79%
• 6M: 10.26%
• 1Y: 24.58%
• 3Y*: 17.53%
• 5Y*: 9.24%
• 10Y*: 10.17%

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

SICNX vs. SWISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SICNX Schwab International Core Equity Fund	11.97%	31.57%	9.04%	20.00%	-15.31%	11.01%	4.64%	19.16%	-18.30%	25.48%
SWISX Schwab International Index Fund	10.79%	31.59%	3.54%	18.13%	-14.30%	11.25%	8.14%	21.87%	-13.38%	25.32%

Correlation

The correlation between SICNX and SWISX 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	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since May 30, 2008	0.98

The correlation between SICNX and SWISX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

SICNX vs. SWISX — Risk / Return Rank

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

SICNX

SICNX Risk / Return Rank: 33
SICNX Sharpe Ratio Rank: 32
SICNX Sortino Ratio Rank: 27
SICNX Omega Ratio Rank: 34
SICNX Calmar Ratio Rank: 35
SICNX Martin Ratio Rank: 35

SWISX

SWISX Risk / Return Rank: 38
SWISX Sharpe Ratio Rank: 38
SWISX Sortino Ratio Rank: 36
SWISX Omega Ratio Rank: 36
SWISX Calmar Ratio Rank: 39
SWISX Martin Ratio Rank: 42

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.

SICNX vs. SWISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Core Equity Fund (SICNX) and Schwab International Index Fund (SWISX). 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.

	SICNX	SWISX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	1.64	-0.14
Sortino ratio: Return per unit of downside risk	2.02	2.33	-0.31
Omega ratio: Gain probability vs. loss probability	1.29	1.30	-0.01
Calmar ratio: Return relative to maximum drawdown	2.11	2.25	-0.14
Martin ratio: Return relative to average drawdown	7.34	8.43	-1.09

SICNX vs. SWISX - Sharpe Ratio Comparison

The current SICNX Sharpe Ratio is 1.50, which is comparable to the SWISX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of SICNX and SWISX, 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

SICNX vs. SWISX - Drawdown Comparison

The maximum SICNX drawdown since its inception was -55.78%, smaller than the maximum SWISX drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for SICNX and SWISX.

Drawdown Indicators

	SICNX	SWISX	Difference
Max Drawdown Largest peak-to-trough decline	-55.78%	-60.65%	+4.87%
Max Drawdown (1Y) Largest decline over 1 year	-12.21%	-11.39%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-13.53%	-13.68%	+0.15%
Max Drawdown (5Y) Largest decline over 5 years	-29.11%	-29.42%	+0.31%
Max Drawdown (10Y) Largest decline over 10 years	-40.62%	-33.83%	-6.79%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-12.17%	-14.78%	+2.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.50%	3.04%	+0.46%

Volatility

SICNX vs. SWISX - Volatility Comparison

Schwab International Core Equity Fund (SICNX) has a higher volatility of 5.40% compared to Schwab International Index Fund (SWISX) at 4.84%. This indicates that SICNX's price experiences larger fluctuations and is considered to be riskier than SWISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SICNX	SWISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.40%	4.84%	+0.56%
Volatility (6M) Calculated over the trailing 6-month period	13.53%	12.98%	+0.55%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	15.63%	+1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.25%	16.37%	-0.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.49%	16.86%	-0.37%

SICNX vs. SWISX - Expense Ratio Comparison

SICNX has a 0.86% expense ratio, which is higher than SWISX's 0.06% expense ratio.

Dividends

SICNX vs. SWISX - Dividend Comparison

SICNX has not paid dividends to shareholders, while SWISX's dividend yield for the trailing twelve months is around 3.20%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SICNX Schwab International Core Equity Fund	0.00%	0.00%	2.61%	2.67%	3.42%	2.86%	1.03%	3.56%	2.86%	2.61%	2.50%	2.04%
SWISX Schwab International Index Fund	3.20%	3.55%	3.29%	3.31%	2.73%	3.34%	1.88%	3.09%	3.15%	2.71%	3.19%	2.71%

Frequently Asked Questions

Can I hold both SICNX and SWISX in my portfolio?

With a correlation of 0.97, SICNX and SWISX 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, SICNX or SWISX?

SICNX has higher volatility (5.40%) compared to SWISX (4.84%). In terms of maximum drawdown, SICNX dropped -55.78% vs SWISX's -60.65%.

Which has better risk-adjusted returns?

SWISX currently has the higher Sharpe Ratio (1.64 vs 1.50), 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.