SPAXX vs. SWVXX

In the year-to-date period, SPAXX achieves a 0.65% return, which is significantly lower than SWVXX's 1.03% return. Over the past 10 years, SPAXX has underperformed SWVXX with an annualized return of 1.28%, while SWVXX has yielded a comparatively higher 1.74% annualized return.

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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.

The current SPAXX Sharpe Ratio is 3.22, which is comparable to the SWVXX Sharpe Ratio of 3.56. 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.

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.

The current volatility for Fidelity Government Money Market Fund (SPAXX) is 0.00%, while Schwab Value Advantage Money Fund (SWVXX) has a volatility of 0.33%. 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.