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SPAXX vs. SWVXX
Performance
Risk-Adjusted Performance
Drawdowns
Volatility

Performance

SPAXX vs. SWVXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Government Money Market Fund (SPAXX) and Schwab Value Advantage Money Fund (SWVXX). The values are adjusted to include any dividend payments, if applicable.

0.00%0.50%1.00%1.50%2.00%JuneJulyAugustSeptemberOctoberNovember0
2.37%
SPAXX
SWVXX

Returns By Period

In the year-to-date period, SPAXX achieves a 0.86% return, which is significantly lower than SWVXX's 3.90% return. Over the past 10 years, SPAXX has underperformed SWVXX with an annualized return of 0.78%, while SWVXX has yielded a comparatively higher 1.51% annualized return.


SPAXX

YTD

0.86%

1M

0.00%

6M

0.00%

1Y

1.27%

5Y (annualized)

1.43%

10Y (annualized)

0.78%

SWVXX

YTD

3.90%

1M

0.21%

6M

2.36%

1Y

4.61%

5Y (annualized)

2.22%

10Y (annualized)

1.51%

Key characteristics


SPAXXSWVXX
Sharpe Ratio2.273.30
Ulcer Index0.00%0.00%
Daily Std Dev0.79%1.39%
Max Drawdown0.00%0.00%
Current Drawdown0.00%0.00%

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Correlation

-0.50.00.51.00.0

The correlation between SPAXX and SWVXX is 0.01, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Risk-Adjusted Performance

SPAXX vs. SWVXX - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Government Money Market Fund (SPAXX) and Schwab Value Advantage Money Fund (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.


Sharpe ratio
The chart of Sharpe ratio for SPAXX, currently valued at 1.42, compared to the broader market-1.000.001.002.003.004.005.001.423.30
No data
SPAXX
SWVXX

The current SPAXX Sharpe Ratio is 2.27, which is lower than the SWVXX Sharpe Ratio of 3.30. The chart below compares the historical Sharpe Ratios of SPAXX and SWVXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Rolling 12-month Sharpe Ratio1.502.002.503.003.50JuneJulyAugustSeptemberOctoberNovember
1.42
3.30
SPAXX
SWVXX

Drawdowns

SPAXX vs. SWVXX - Drawdown Comparison

The maximum SPAXX 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 SPAXX and SWVXX. For additional features, visit the drawdowns tool.


0.00%JuneJulyAugustSeptemberOctoberNovember00
SPAXX
SWVXX

Volatility

SPAXX vs. SWVXX - Volatility Comparison

The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while Schwab Value Advantage Money Fund (SWVXX) has a volatility of 0.21%. This indicates that SPAXX experiences smaller price fluctuations and is considered to be less risky than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


0.00%0.10%0.20%0.30%0.40%0.50%0.60%JuneJulyAugustSeptemberOctoberNovember0
0.21%
SPAXX
SWVXX