SWCAX vs. SWPPX
Compare and contrast key facts about Schwab California Tax-Free Bond Fund™ (SWCAX) and Schwab S&P 500 Index Fund (SWPPX).
SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992. SWPPX is a passively managed fund by Charles Schwab that tracks the performance of the S&P 500 Index. It was launched on May 19, 1997.
Performance
SWCAX vs. SWPPX - Performance Comparison
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SWCAX vs. SWPPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWCAX Schwab California Tax-Free Bond Fund™ | -0.74% | 3.95% | 1.51% | 4.73% | -8.10% | 0.36% | 3.93% | 6.02% | 1.16% | 4.37% |
SWPPX Schwab S&P 500 Index Fund | -7.07% | 17.87% | 24.96% | 26.26% | -18.14% | 28.67% | 18.38% | 31.46% | -4.47% | 21.81% |
Returns By Period
In the year-to-date period, SWCAX achieves a -0.74% return, which is significantly higher than SWPPX's -7.07% return. Over the past 10 years, SWCAX has underperformed SWPPX with an annualized return of 1.42%, while SWPPX has yielded a comparatively higher 13.71% annualized return.
SWCAX
- 1D
- 0.09%
- 1M
- -2.66%
- YTD
- -0.74%
- 6M
- 0.80%
- 1Y
- 3.41%
- 3Y*
- 2.45%
- 5Y*
- 0.39%
- 10Y*
- 1.42%
SWPPX
- 1D
- -0.37%
- 1M
- -7.65%
- YTD
- -7.07%
- 6M
- -4.58%
- 1Y
- 14.43%
- 3Y*
- 17.15%
- 5Y*
- 11.39%
- 10Y*
- 13.71%
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SWCAX vs. SWPPX - Expense Ratio Comparison
SWCAX has a 0.48% expense ratio, which is higher than SWPPX's 0.02% expense ratio.
Return for Risk
SWCAX vs. SWPPX — Risk / Return Rank
SWCAX
SWPPX
SWCAX vs. SWPPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab California Tax-Free Bond Fund™ (SWCAX) and Schwab S&P 500 Index Fund (SWPPX). 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.
| SWCAX | SWPPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.03 | 0.84 | +0.20 |
Sortino ratioReturn per unit of downside risk | 1.39 | 1.30 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.20 | +0.10 |
Calmar ratioReturn relative to maximum drawdown | 1.01 | 1.06 | -0.05 |
Martin ratioReturn relative to average drawdown | 3.34 | 5.14 | -1.80 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWCAX | SWPPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.03 | 0.84 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.68 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.43 | 0.76 | -0.33 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.48 | +0.69 |
Correlation
The correlation between SWCAX and SWPPX is -0.09. 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.
Dividends
SWCAX vs. SWPPX - Dividend Comparison
SWCAX's dividend yield for the trailing twelve months is around 2.99%, more than SWPPX's 1.19% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWCAX Schwab California Tax-Free Bond Fund™ | 2.99% | 3.46% | 2.67% | 2.23% | 1.57% | 1.68% | 2.45% | 2.54% | 2.50% | 2.22% | 3.10% | 2.79% |
SWPPX Schwab S&P 500 Index Fund | 1.19% | 1.11% | 1.23% | 1.43% | 1.67% | 1.27% | 1.81% | 1.95% | 2.67% | 1.79% | 2.55% | 3.17% |
Drawdowns
SWCAX vs. SWPPX - Drawdown Comparison
The maximum SWCAX drawdown since its inception was -13.51%, smaller than the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for SWCAX and SWPPX.
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Drawdown Indicators
| SWCAX | SWPPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.51% | -55.06% | +41.55% |
Max Drawdown (1Y)Largest decline over 1 year | -3.99% | -12.10% | +8.11% |
Max Drawdown (5Y)Largest decline over 5 years | -12.30% | -24.51% | +12.21% |
Max Drawdown (10Y)Largest decline over 10 years | -12.30% | -33.80% | +21.50% |
Current DrawdownCurrent decline from peak | -2.66% | -8.89% | +6.23% |
Average DrawdownAverage peak-to-trough decline | -1.88% | -10.00% | +8.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.21% | 2.49% | -1.28% |
Volatility
SWCAX vs. SWPPX - Volatility Comparison
The current volatility for Schwab California Tax-Free Bond Fund™ (SWCAX) is 0.90%, while Schwab S&P 500 Index Fund (SWPPX) has a volatility of 4.29%. This indicates that SWCAX experiences smaller price fluctuations and is considered to be less risky than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWCAX | SWPPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.90% | 4.29% | -3.39% |
Volatility (6M)Calculated over the trailing 6-month period | 1.50% | 9.11% | -7.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.03% | 18.14% | -14.11% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.07% | 16.89% | -13.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 18.19% | -14.84% |