SWCAX vs. PWZ
Compare and contrast key facts about Schwab California Tax-Free Bond Fund™ (SWCAX) and Invesco California AMT-Free Municipal Bond ETF (PWZ).
SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992. PWZ is a passively managed fund by Invesco that tracks the performance of the ICE BofA California Long-Term Core Plus Muni. It was launched on Oct 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SWCAX or PWZ.
Correlation
The correlation between SWCAX and PWZ is -0.12. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Performance
SWCAX vs. PWZ - Performance Comparison
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Key characteristics
SWCAX:
0.14
PWZ:
-0.25
SWCAX:
0.21
PWZ:
-0.21
SWCAX:
1.04
PWZ:
0.97
SWCAX:
0.11
PWZ:
-0.15
SWCAX:
0.47
PWZ:
-0.63
SWCAX:
1.29%
PWZ:
2.68%
SWCAX:
4.30%
PWZ:
8.50%
SWCAX:
-13.51%
PWZ:
-21.48%
SWCAX:
-3.19%
PWZ:
-7.86%
Returns By Period
In the year-to-date period, SWCAX achieves a -1.30% return, which is significantly higher than PWZ's -3.87% return. Over the past 10 years, SWCAX has underperformed PWZ with an annualized return of 1.37%, while PWZ has yielded a comparatively higher 2.02% annualized return.
SWCAX
-1.30%
0.56%
-1.05%
0.69%
0.42%
1.37%
PWZ
-3.87%
2.35%
-3.95%
-1.85%
0.20%
2.02%
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SWCAX vs. PWZ - Expense Ratio Comparison
SWCAX has a 0.48% expense ratio, which is higher than PWZ's 0.28% expense ratio.
Risk-Adjusted Performance
SWCAX vs. PWZ — Risk-Adjusted Performance Rank
SWCAX
PWZ
SWCAX vs. PWZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab California Tax-Free Bond Fund™ (SWCAX) and Invesco California AMT-Free Municipal Bond ETF (PWZ). 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.
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Dividends
SWCAX vs. PWZ - Dividend Comparison
SWCAX's dividend yield for the trailing twelve months is around 2.95%, less than PWZ's 3.48% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWCAX Schwab California Tax-Free Bond Fund™ | 2.95% | 3.11% | 2.66% | 2.13% | 2.08% | 2.60% | 2.56% | 2.49% | 2.22% | 3.09% | 2.79% | 4.22% |
PWZ Invesco California AMT-Free Municipal Bond ETF | 3.48% | 3.28% | 2.84% | 2.49% | 2.28% | 2.34% | 2.51% | 2.53% | 2.49% | 2.86% | 3.16% | 3.80% |
Drawdowns
SWCAX vs. PWZ - Drawdown Comparison
The maximum SWCAX drawdown since its inception was -13.51%, smaller than the maximum PWZ drawdown of -21.48%. Use the drawdown chart below to compare losses from any high point for SWCAX and PWZ. For additional features, visit the drawdowns tool.
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Volatility
SWCAX vs. PWZ - Volatility Comparison
The current volatility for Schwab California Tax-Free Bond Fund™ (SWCAX) is 2.28%, while Invesco California AMT-Free Municipal Bond ETF (PWZ) has a volatility of 3.02%. This indicates that SWCAX experiences smaller price fluctuations and is considered to be less risky than PWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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