SWDSX vs. BKLC

Last updated Jun 24, 2026

SWDSX (Schwab Dividend Equity Fund™) and BKLC (BNY Mellon US Large Cap Core Equity ETF) are both funds - SWDSX is a Large Cap Value Equities fund actively managed by Charles Schwab, while BKLC is a Large Cap Blend Equities fund tracking the Morningstar US Large Cap Index. SWDSX is actively managed, while BKLC is passively managed. Over the past 5 years, SWDSX returned 9.38%/yr vs 13.37%/yr for BKLC. A 0.74 correlation means they provide meaningful diversification when combined. SWDSX charges 0.89%/yr vs 0.00%/yr for BKLC.

Performance

SWDSX vs. BKLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Dividend Equity Fund™ (SWDSX) and BNY Mellon US Large Cap Core Equity ETF (BKLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWDSX achieves a 6.77% return, which is significantly lower than BKLC's 8.23% return.

SWDSX

• 1D: 0.05%
• 1M: -0.52%
• YTD: 6.77%
• 6M: 6.23%
• 1Y: 13.46%
• 3Y*: 14.77%
• 5Y*: 9.38%
• 10Y*: 9.48%

BKLC

• 1D: -1.40%
• 1M: -1.17%
• YTD: 8.23%
• 6M: 7.30%
• 1Y: 23.79%
• 3Y*: 21.56%
• 5Y*: 13.37%
• 10Y*: —

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

SWDSX vs. BKLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
SWDSX Schwab Dividend Equity Fund™	6.77%	12.31%	17.06%	6.92%	-5.84%	28.24%	26.01%
BKLC BNY Mellon US Large Cap Core Equity ETF	8.23%	18.06%	25.56%	30.88%	-20.52%	27.41%	37.31%

Correlation

The correlation between SWDSX and BKLC is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (All Time) Calculated using the full available price history since Apr 9, 2020	0.74

The correlation between SWDSX and BKLC shifts across timeframes, from 0.58 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

SWDSX vs. BKLC — Risk / Return Rank

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

SWDSX

SWDSX Risk / Return Rank: 36
SWDSX Sharpe Ratio Rank: 34
SWDSX Sortino Ratio Rank: 31
SWDSX Omega Ratio Rank: 33
SWDSX Calmar Ratio Rank: 43
SWDSX Martin Ratio Rank: 39

BKLC

BKLC Risk / Return Rank: 58
BKLC Sharpe Ratio Rank: 58
BKLC Sortino Ratio Rank: 54
BKLC Omega Ratio Rank: 57
BKLC Calmar Ratio Rank: 55
BKLC Martin Ratio Rank: 66

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.

SWDSX vs. BKLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Dividend Equity Fund™ (SWDSX) and BNY Mellon US Large Cap Core Equity ETF (BKLC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	SWDSX	BKLC	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.87	-0.30
Sortino ratio: Return per unit of downside risk	2.17	2.52	-0.34
Omega ratio: Gain probability vs. loss probability	1.28	1.34	-0.05
Calmar ratio: Return relative to maximum drawdown	2.37	2.62	-0.25
Martin ratio: Return relative to average drawdown	8.01	11.54	-3.53

SWDSX vs. BKLC - Sharpe Ratio Comparison

The current SWDSX Sharpe Ratio is 1.57, which is comparable to the BKLC Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of SWDSX and BKLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SWDSX vs. BKLC - Drawdown Comparison

The maximum SWDSX drawdown since its inception was -50.01%, which is greater than BKLC's maximum drawdown of -26.14%. Use the drawdown chart below to compare losses from any high point for SWDSX and BKLC.

Drawdown Indicators

	SWDSX	BKLC	Difference
Max Drawdown Largest peak-to-trough decline	-50.01%	-26.14%	-23.87%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-9.10%	+2.94%
Max Drawdown (3Y) Largest decline over 3 years	-11.67%	-19.05%	+7.38%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	-26.14%	+8.20%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	—	—
Current Drawdown Current decline from peak	-1.35%	-3.16%	+1.81%
Average Drawdown Average peak-to-trough decline	-6.76%	-5.24%	-1.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	2.07%	-0.26%

Volatility

SWDSX vs. BKLC - Volatility Comparison

The current volatility for Schwab Dividend Equity Fund™ (SWDSX) is 2.25%, while BNY Mellon US Large Cap Core Equity ETF (BKLC) has a volatility of 5.04%. This indicates that SWDSX experiences smaller price fluctuations and is considered to be less risky than BKLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWDSX	BKLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.25%	5.04%	-2.79%
Volatility (6M) Calculated over the trailing 6-month period	6.55%	10.09%	-3.54%
Volatility (1Y) Calculated over the trailing 1-year period	9.34%	12.83%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.14%	17.28%	-4.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	17.47%	-0.58%

SWDSX vs. BKLC - Expense Ratio Comparison

SWDSX has a 0.89% expense ratio, which is higher than BKLC's 0.00% expense ratio.

Dividends

SWDSX vs. BKLC - Dividend Comparison

SWDSX's dividend yield for the trailing twelve months is around 1.16%, more than BKLC's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BKLC BNY Mellon US Large Cap Core Equity ETF	1.04%	1.05%	1.22%	1.35%	1.64%	1.10%	0.84%	0.00%	0.00%	0.00%	0.00%	0.00%
SWDSX Schwab Dividend Equity Fund™	1.16%	1.22%	2.59%	2.25%	6.83%	16.25%	2.09%	6.86%	11.63%	10.24%	1.68%	14.46%

Frequently Asked Questions

Can I hold both SWDSX and BKLC in my portfolio?

SWDSX and BKLC have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWDSX or BKLC?

BKLC has higher volatility (5.04%) compared to SWDSX (2.25%). In terms of maximum drawdown, SWDSX dropped -50.01% vs BKLC's -26.14%.

Which has better risk-adjusted returns?

BKLC currently has the higher Sharpe Ratio (1.87 vs 1.57), 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.