SWASX vs. SFLNX

Last updated Jun 4, 2026

SWASX (Schwab Global Real Estate Fund™) and SFLNX (Schwab Fundamental US Large Company Index Fund) are both mutual funds - SWASX is a REIT fund managed by Charles Schwab, while SFLNX is a Large Cap Value Equities fund tracking the Russell RAFI US Large Company Index. Over the past 10 years, SWASX returned 3.62%/yr vs 14.26%/yr for SFLNX. A 0.76 correlation means they provide meaningful diversification when combined. SWASX charges 1.05%/yr vs 0.25%/yr for SFLNX.

Performance

SWASX vs. SFLNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Global Real Estate Fund™ (SWASX) and Schwab Fundamental US Large Company Index Fund (SFLNX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWASX achieves a 6.48% return, which is significantly lower than SFLNX's 14.66% return. Over the past 10 years, SWASX has underperformed SFLNX with an annualized return of 3.62%, while SFLNX has yielded a comparatively higher 14.26% annualized return.

SWASX

• 1D: 0.14%
• 1M: -1.52%
• YTD: 6.48%
• 6M: 6.65%
• 1Y: 12.40%
• 3Y*: 8.97%
• 5Y*: 1.03%
• 10Y*: 3.62%

SFLNX

• 1D: 0.46%
• 1M: 4.08%
• YTD: 14.66%
• 6M: 14.73%
• 1Y: 32.46%
• 3Y*: 20.93%
• 5Y*: 12.96%
• 10Y*: 14.26%

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

SWASX vs. SFLNX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWASX Schwab Global Real Estate Fund™	6.48%	11.33%	1.42%	8.49%	-25.10%	25.32%	-12.10%	27.81%	-7.66%	14.38%
SFLNX Schwab Fundamental US Large Company Index Fund	14.66%	17.02%	16.78%	18.16%	-6.89%	31.64%	9.12%	28.91%	-7.43%	17.08%

Correlation

The correlation between SWASX and SFLNX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jan 3, 2008	0.76

The correlation between SWASX and SFLNX shifts across timeframes, from 0.62 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SWASX vs. SFLNX — Risk / Return Rank

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

SWASX

SWASX Risk / Return Rank: 14
SWASX Sharpe Ratio Rank: 15
SWASX Sortino Ratio Rank: 14
SWASX Omega Ratio Rank: 15
SWASX Calmar Ratio Rank: 11
SWASX Martin Ratio Rank: 15

SFLNX

SFLNX Risk / Return Rank: 92
SFLNX Sharpe Ratio Rank: 94
SFLNX Sortino Ratio Rank: 92
SFLNX Omega Ratio Rank: 87
SFLNX Calmar Ratio Rank: 94
SFLNX Martin Ratio Rank: 94

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.

SWASX vs. SFLNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Global Real Estate Fund™ (SWASX) and Schwab Fundamental US Large Company Index Fund (SFLNX). 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.

	SWASX	SFLNX	Difference
Sharpe ratio: Return per unit of total volatility	1.09	3.23	-2.14
Sortino ratio: Return per unit of downside risk	1.56	4.50	-2.94
Omega ratio: Gain probability vs. loss probability	1.20	1.59	-0.39
Calmar ratio: Return relative to maximum drawdown	1.11	5.47	-4.36
Martin ratio: Return relative to average drawdown	4.32	21.47	-17.15
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWASX vs. SFLNX - Sharpe Ratio Comparison

The current SWASX Sharpe Ratio is 1.09, which is lower than the SFLNX Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of SWASX and SFLNX, 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

	SWASX	SFLNX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	3.23	-2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.07	0.85	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.21	0.78	-0.57
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.53	-0.42

Drawdowns

SWASX vs. SFLNX - Drawdown Comparison

The maximum SWASX drawdown since its inception was -69.47%, which is greater than SFLNX's maximum drawdown of -56.18%. Use the drawdown chart below to compare losses from any high point for SWASX and SFLNX.

Drawdown Indicators

	SWASX	SFLNX	Difference
Max Drawdown Largest peak-to-trough decline	-69.47%	-56.18%	-13.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.89%	-6.10%	-4.79%
Max Drawdown (3Y) Largest decline over 3 years	-17.23%	-16.27%	-0.96%
Max Drawdown (5Y) Largest decline over 5 years	-32.31%	-18.98%	-13.33%
Max Drawdown (10Y) Largest decline over 10 years	-44.19%	-37.59%	-6.60%
Current Drawdown Current decline from peak	-4.40%	0.00%	-4.40%
Average Drawdown Average peak-to-trough decline	-15.51%	-6.01%	-9.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	1.55%	+1.25%

Volatility

SWASX vs. SFLNX - Volatility Comparison

Schwab Global Real Estate Fund™ (SWASX) has a higher volatility of 3.34% compared to Schwab Fundamental US Large Company Index Fund (SFLNX) at 2.48%. This indicates that SWASX's price experiences larger fluctuations and is considered to be riskier than SFLNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWASX	SFLNX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.34%	2.48%	+0.86%
Volatility (6M) Calculated over the trailing 6-month period	8.44%	7.43%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	11.15%	10.35%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.45%	15.26%	+0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.08%	18.40%	-1.32%

SWASX vs. SFLNX - Expense Ratio Comparison

SWASX has a 1.05% expense ratio, which is higher than SFLNX's 0.25% expense ratio.

Dividends

SWASX vs. SFLNX - Dividend Comparison

SWASX's dividend yield for the trailing twelve months is around 3.26%, more than SFLNX's 1.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFLNX Schwab Fundamental US Large Company Index Fund	1.46%	1.68%	1.78%	1.86%	2.09%	4.78%	6.17%	5.33%	9.69%	3.28%	7.23%	5.68%
SWASX Schwab Global Real Estate Fund™	3.26%	3.11%	3.32%	3.29%	3.00%	3.71%	2.94%	7.38%	4.24%	3.32%	4.67%	3.00%

Frequently Asked Questions

Can I hold both SWASX and SFLNX in my portfolio?

SWASX and SFLNX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWASX or SFLNX?

SWASX has higher volatility (3.34%) compared to SFLNX (2.48%). In terms of maximum drawdown, SWASX dropped -69.47% vs SFLNX's -56.18%.

Which has better risk-adjusted returns?

SFLNX currently has the higher Sharpe Ratio (3.23 vs 1.09), 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.