SNSXX vs. SWVXX

Last updated Jun 5, 2026

SNSXX (Schwab U.S. Treasury Money Fund) and SWVXX (Schwab Prime Advantage Money Fund Investor Shares) are both Money Market funds from Charles Schwab. Over the past 5 years, SNSXX returned 1.38%/yr vs 3.14%/yr for SWVXX. A 0.69 correlation means they provide meaningful diversification when combined. Both charge a 0.34% expense ratio.

Performance

SNSXX vs. SWVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Treasury Money Fund (SNSXX) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SNSXX having a 1.40% return and SWVXX slightly higher at 1.45%.

SNSXX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.40%
• 6M: 1.72%
• 1Y: 3.69%
• 3Y*: 2.32%
• 5Y*: 1.38%
• 10Y*: —

SWVXX

• 1D: 0.00%
• 1M: 0.29%
• YTD: 1.45%
• 6M: 1.77%
• 1Y: 3.85%
• 3Y*: 4.71%
• 5Y*: 3.14%
• 10Y*: —

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

SNSXX vs. SWVXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SNSXX Schwab U.S. Treasury Money Fund	1.40%	3.97%	1.61%	0.00%	0.00%	0.00%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	1.45%	4.15%	5.16%	5.04%	0.00%	0.00%

Correlation

The correlation between SNSXX and SWVXX is 1.00 - 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	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since May 26, 2021	0.69

Over the past year, SNSXX and SWVXX have become more correlated (1.00) than their long-term average of 0.69, meaning their price movements have been converging.

Return for Risk

SNSXX vs. SWVXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Treasury Money Fund (SNSXX) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX). 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.

	SNSXX	SWVXX	Difference
Sharpe ratio: Return per unit of total volatility	3.71	3.71	0.00
Sortino ratio: Return per unit of downside risk	—	—	—
Omega ratio: Gain probability vs. loss probability	—	—	—
Calmar ratio: Return relative to maximum drawdown	—	—	—
Martin ratio: Return relative to average drawdown	—	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SNSXX vs. SWVXX - Sharpe Ratio Comparison

The current SNSXX Sharpe Ratio is 3.71, which is comparable to the SWVXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of SNSXX and SWVXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SNSXX	SWVXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.71	3.71	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.09	2.95	-0.86
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	2.94	-0.86

Drawdowns

SNSXX vs. SWVXX - Drawdown Comparison

The maximum SNSXX drawdown since its inception was 0.00%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SNSXX and SWVXX.

Drawdown Indicators

	SNSXX	SWVXX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	0.00%	0.00%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	0.00%	0.00%
Max Drawdown (3Y) Largest decline over 3 years	0.00%	0.00%	0.00%
Max Drawdown (5Y) Largest decline over 5 years	0.00%	0.00%	0.00%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	0.00%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	0.00%	0.00%

Volatility

SNSXX vs. SWVXX - Volatility Comparison

Schwab U.S. Treasury Money Fund (SNSXX) and Schwab Prime Advantage Money Fund Investor Shares (SWVXX) have volatilities of 0.29% and 0.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SNSXX	SWVXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.29%	0.29%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	0.73%	0.76%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	1.05%	1.10%	-0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.68%	1.09%	-0.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.68%	1.09%	-0.41%

SNSXX vs. SWVXX - Expense Ratio Comparison

Both SNSXX and SWVXX have an expense ratio of 0.34%.

Dividends

SNSXX vs. SWVXX - Dividend Comparison

SNSXX's dividend yield for the trailing twelve months is around 3.62%, less than SWVXX's 3.77% yield.

Position	TTM	2025	2024	2023
SNSXX Schwab U.S. Treasury Money Fund	3.62%	3.88%	1.59%	0.00%
SWVXX Schwab Prime Advantage Money Fund Investor Shares	3.77%	4.06%	5.02%	4.91%

Frequently Asked Questions

Can I hold both SNSXX and SWVXX in my portfolio?

With a correlation of 1.00, SNSXX and SWVXX 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, SNSXX or SWVXX?

SWVXX has higher volatility (0.29%) compared to SNSXX (0.29%). In terms of maximum drawdown, SNSXX dropped 0.00% vs SWVXX's 0.00%.

Which has better risk-adjusted returns?

SNSXX currently has the higher Sharpe Ratio (3.71 vs 3.71), 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.