SWDSX vs. SFENX

Last updated Aug 1, 2026

SWDSX (Schwab Dividend Equity Fund™) and SFENX (Schwab Fundamental Emerging Markets Equity Index Fund) are both mutual funds - SWDSX is a Large Cap Value Equities fund actively managed by Charles Schwab, while SFENX is a Emerging Markets Equities fund tracking the RAFI Fundamental High Liquidity Emerging Markets Index. SWDSX is actively managed, while SFENX is passively managed. Over the past 10 years, SWDSX returned 9.35%/yr vs 9.83%/yr for SFENX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. SWDSX charges 0.89%/yr vs 0.39%/yr for SFENX.

Performance

SWDSX vs. SFENX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Dividend Equity Fund™ (SWDSX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWDSX achieves a 11.28% return, which is significantly lower than SFENX's 13.49% return. Over the past 10 years, SWDSX has underperformed SFENX with an annualized return of 9.35%, while SFENX has yielded a comparatively higher 9.83% annualized return.

SWDSX

• 1D: -0.20%
• 1M: 1.59%
• 6M: 6.81%
• YTD: 11.28%
• 1Y: 17.46%
• 3Y*: 14.51%
• 5Y*: 9.63%
• 10Y*: 9.35%
• ALL TIME*: 8.65%

SFENX

• 1D: 1.90%
• 1M: 3.71%
• 6M: 5.58%
• YTD: 13.49%
• 1Y: 27.98%
• 3Y*: 17.96%
• 5Y*: 10.51%
• 10Y*: 9.83%
• ALL TIME*: 8.18%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	$0.00	$0.00	$0.00
SWDSX Schwab Dividend Equity Fund™	$0.00	$0.00	$0.00

SWDSX vs. SFENX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWDSX Schwab Dividend Equity Fund™	11.28%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	15.40%
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	13.49%	29.19%	12.31%	14.90%	-15.50%	13.91%	-3.01%	19.46%	-9.96%	26.44%

Correlation

The correlation between SWDSX and SFENX is 0.29, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.29
Correlation (3Y) Balances recent behavior with more history.	0.37
Correlation (5Y) Shows whether the relationship held over a longer period.	0.47
Correlation (10Y) Provides a long-term view across more market conditions.	0.56
Correlation (All Time) Calculated using the full available price history since Jan 2, 2009	0.64

Over the past year, the correlation between SWDSX and SFENX has dropped to 0.29 - well below their long-term average of 0.64, suggesting their price drivers have been diverging.

Return for Risk

SWDSX vs. SFENX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

SWDSX

SWDSX Risk / Return Rank: 75
SWDSX Sharpe Ratio Rank: 74
SWDSX Sortino Ratio Rank: 71
SWDSX Omega Ratio Rank: 73
SWDSX Calmar Ratio Rank: 80
SWDSX Martin Ratio Rank: 75

SFENX

SFENX Risk / Return Rank: 76
SFENX Sharpe Ratio Rank: 78
SFENX Sortino Ratio Rank: 74
SFENX Omega Ratio Rank: 76
SFENX Calmar Ratio Rank: 83
SFENX Martin Ratio Rank: 67

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SWDSX vs. SFENX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Dividend Equity Fund™ (SWDSX) and Schwab Fundamental Emerging Markets Equity Index Fund (SFENX). 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	SFENX	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.80	-0.12
Sortino ratio: Return per unit of downside risk	2.34	2.46	-0.12
Omega ratio: Gain probability vs. loss probability	1.31	1.32	-0.01
Calmar ratio: Return relative to maximum drawdown	2.59	2.73	-0.14
Martin ratio: Return relative to average drawdown	8.82	8.14	+0.68

SWDSX vs. SFENX - Sharpe Ratio Comparison

The current SWDSX Sharpe Ratio is 1.68, which is comparable to the SFENX Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of SWDSX and SFENX, 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. SFENX - Drawdown Comparison

The maximum SWDSX drawdown since its inception was -50.01%, which is greater than SFENX's maximum drawdown of -47.19%. Use the drawdown chart below to compare losses from any high point for SWDSX and SFENX.

Drawdown Indicators

	SWDSX	SFENX	Difference
Max Drawdown Largest peak-to-trough decline	-50.01%	-47.19%	-2.82%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-9.45%	+3.29%
Max Drawdown (3Y) Largest decline over 3 years	-11.67%	-16.51%	+4.84%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	-29.26%	+11.32%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	-39.59%	-0.61%
Current Drawdown Current decline from peak	-1.05%	-3.23%	+2.18%
Average Drawdown Average peak-to-trough decline	-6.74%	-12.81%	+6.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.16%	-1.35%

Volatility

SWDSX vs. SFENX - Volatility Comparison

The current volatility for Schwab Dividend Equity Fund™ (SWDSX) is 3.04%, while Schwab Fundamental Emerging Markets Equity Index Fund (SFENX) has a volatility of 4.35%. This indicates that SWDSX experiences smaller price fluctuations and is considered to be less risky than SFENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWDSX	SFENX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.04%	4.35%	-1.31%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	11.98%	-5.35%
Volatility (1Y) Calculated over the trailing 1-year period	9.52%	14.34%	-4.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.08%	15.56%	-2.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.80%	16.79%	+0.01%

SWDSX vs. SFENX - Expense Ratio Comparison

SWDSX has a 0.89% expense ratio, which is higher than SFENX's 0.39% expense ratio.

Dividends

SWDSX vs. SFENX - Dividend Comparison

SWDSX's dividend yield for the trailing twelve months is around 1.10%, less than SFENX's 3.46% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SFENX Schwab Fundamental Emerging Markets Equity Index Fund	3.46%	3.93%	4.67%	5.00%	5.46%	4.61%	2.95%	3.82%	2.90%	2.37%	2.16%	3.23%
SWDSX Schwab Dividend Equity Fund™	1.10%	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 SFENX in my portfolio?

SWDSX and SFENX have a correlation of 0.29, 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 SFENX?

SFENX has higher volatility (4.35%) compared to SWDSX (3.04%). In terms of maximum drawdown, SWDSX dropped -50.01% vs SFENX's -47.19%.

Which has better risk-adjusted returns?

SFENX currently has the higher Sharpe Ratio (1.80 vs 1.68), 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.