SWDSX vs. SPDN
SWDSX (Schwab Dividend Equity Fund™) and SPDN (Direxion Daily S&P 500 Bear 1x Shares) are both funds - SWDSX is a Large Cap Value Equities fund actively managed by Charles Schwab, while SPDN is a Inverse Equities fund tracking the S&P 500 Index. SWDSX is actively managed, while SPDN is passively managed. Over the past 10 years, SWDSX returned 9.35%/yr vs -12.18%/yr for SPDN. Their -0.82 correlation means they have often moved in opposite directions in the past. SWDSX charges 0.89%/yr vs 0.50%/yr for SPDN.
Performance
SWDSX vs. SPDN - Performance Comparison
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Returns By Period
In the year-to-date period, SWDSX achieves a 11.28% return, which is significantly higher than SPDN's -6.42% return. Over the past 10 years, SWDSX has outperformed SPDN with an annualized return of 9.35%, while SPDN has yielded a comparatively lower -12.18% 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%
SPDN
- 1D
- -0.80%
- 1M
- 0.00%
- 6M
- -5.52%
- YTD
- -6.42%
- 1Y
- -12.79%
- 3Y*
- -10.75%
- 5Y*
- -7.84%
- 10Y*
- -12.18%
- ALL TIME*
- -12.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $433.42M | $387.95M | $422.31M | |
| $0.00 | $0.00 | $0.00 |
SWDSX vs. SPDN - 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% |
SPDN Direxion Daily S&P 500 Bear 1x Shares | -6.42% | -11.09% | -12.88% | -15.04% | 18.63% | -23.72% | -24.56% | -21.94% | 5.41% | -17.16% |
Correlation
The correlation between SWDSX and SPDN is -0.49, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.49 |
Correlation (3Y) Balances recent behavior with more history. | -0.65 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.77 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.82 |
Correlation (All Time) Calculated using the full available price history since Jun 8, 2016 | -0.82 |
Over the past year, the inverse relationship between SWDSX and SPDN has weakened: their correlation has moved from -0.82 to -0.49, meaning they move in opposite directions less often than they have historically.
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Return for Risk
SWDSX vs. SPDN — Risk / Return Rank
SWDSX
SPDN
SWDSX vs. SPDN - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Dividend Equity Fund™ (SWDSX) and Direxion Daily S&P 500 Bear 1x Shares (SPDN). 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 | SPDN | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.56 | ||
| Sortino ratioReturn per unit of downside risk | +3.56 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.87 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.59 | -0.71 | +3.31 |
| Martin ratioReturn relative to average drawdown | 8.82 | -1.27 | +10.10 |
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Drawdowns
SWDSX vs. SPDN - Drawdown Comparison
The maximum SWDSX drawdown since its inception was -50.01%, smaller than the maximum SPDN drawdown of -75.31%. Use the drawdown chart below to compare losses from any high point for SWDSX and SPDN.
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Drawdown Indicators
| SWDSX | SPDN | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -50.01% | -75.31% | +25.30% |
Max Drawdown (1Y)Largest decline over 1 year | -6.16% | -15.93% | +9.77% |
Max Drawdown (3Y)Largest decline over 3 years | -11.67% | -38.24% | +26.57% |
Max Drawdown (5Y)Largest decline over 5 years | -17.94% | -43.85% | +25.91% |
Max Drawdown (10Y)Largest decline over 10 years | -40.20% | -73.97% | +33.77% |
Current DrawdownCurrent decline from peak | -1.05% | -74.80% | +73.75% |
Average DrawdownAverage peak-to-trough decline | -6.74% | -48.93% | +42.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.81% | 8.90% | -7.09% |
Volatility
SWDSX vs. SPDN - Volatility Comparison
The current volatility for Schwab Dividend Equity Fund™ (SWDSX) is 3.04%, while Direxion Daily S&P 500 Bear 1x Shares (SPDN) has a volatility of 3.55%. This indicates that SWDSX experiences smaller price fluctuations and is considered to be less risky than SPDN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWDSX | SPDN | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.04% | 3.55% | -0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 6.63% | 10.15% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.52% | 12.98% | -3.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.08% | 16.97% | -3.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.80% | 18.03% | -1.23% |
SWDSX vs. SPDN - Expense Ratio Comparison
SWDSX has a 0.89% expense ratio, which is higher than SPDN's 0.50% expense ratio.
Dividends
SWDSX vs. SPDN - Dividend Comparison
SWDSX's dividend yield for the trailing twelve months is around 1.10%, less than SPDN's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPDN Direxion Daily S&P 500 Bear 1x Shares | 3.32% | 4.06% | 5.32% | 5.84% | 0.96% | 0.00% | 0.10% | 1.89% | 1.24% | 0.42% | 0.00% | 0.00% |
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
SWDSX and SPDN have a correlation of -0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPDN has higher volatility (3.55%) compared to SWDSX (3.04%). In terms of maximum drawdown, SWDSX dropped -50.01% vs SPDN's -75.31%.
SWDSX currently has the higher Sharpe Ratio (1.68 vs -0.88), 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.
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