SWDSX vs. VALAX

Last updated Jun 4, 2026

SWDSX (Schwab Dividend Equity Fund™) and VALAX (Al Frank Fund) are both Large Cap Value Equities funds. Over the past 10 years, SWDSX returned 9.14%/yr vs 14.40%/yr for VALAX. Their correlation of 0.92 suggests significant overlap in exposure. SWDSX charges 0.89%/yr vs 1.24%/yr for VALAX.

Performance

SWDSX vs. VALAX - Performance Comparison

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

Returns By Period

In the year-to-date period, SWDSX achieves a 7.10% return, which is significantly lower than VALAX's 23.13% return. Over the past 10 years, SWDSX has underperformed VALAX with an annualized return of 9.14%, while VALAX has yielded a comparatively higher 14.40% annualized return.

SWDSX

• 1D: 0.79%
• 1M: 2.03%
• YTD: 7.10%
• 6M: 4.82%
• 1Y: 14.29%
• 3Y*: 15.03%
• 5Y*: 8.88%
• 10Y*: 9.14%

VALAX

• 1D: 1.32%
• 1M: 7.50%
• YTD: 23.13%
• 6M: 24.47%
• 1Y: 52.39%
• 3Y*: 24.89%
• 5Y*: 11.74%
• 10Y*: 14.40%

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

SWDSX vs. VALAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWDSX Schwab Dividend Equity Fund™	7.10%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	15.40%
VALAX Al Frank Fund	23.13%	23.57%	13.35%	14.05%	-13.50%	24.97%	10.22%	33.98%	-7.87%	18.09%

Correlation

The correlation between SWDSX and VALAX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 1, 2006	0.92

The correlation between SWDSX and VALAX shifts across timeframes, from 0.74 (1 year) to 0.92 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SWDSX vs. VALAX — Risk / Return Rank

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

SWDSX

SWDSX Risk / Return Rank: 33
SWDSX Sharpe Ratio Rank: 31
SWDSX Sortino Ratio Rank: 28
SWDSX Omega Ratio Rank: 31
SWDSX Calmar Ratio Rank: 39
SWDSX Martin Ratio Rank: 37

VALAX

VALAX Risk / Return Rank: 96
VALAX Sharpe Ratio Rank: 98
VALAX Sortino Ratio Rank: 96
VALAX Omega Ratio Rank: 93
VALAX Calmar Ratio Rank: 96
VALAX Martin Ratio Rank: 96

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. VALAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Dividend Equity Fund™ (SWDSX) and Al Frank Fund (VALAX). 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.

	SWDSX	VALAX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	3.96	-2.37
Sortino ratio: Return per unit of downside risk	2.20	5.30	-3.10
Omega ratio: Gain probability vs. loss probability	1.29	1.70	-0.41
Calmar ratio: Return relative to maximum drawdown	2.38	6.32	-3.93
Martin ratio: Return relative to average drawdown	8.06	25.24	-17.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWDSX vs. VALAX - Sharpe Ratio Comparison

The current SWDSX Sharpe Ratio is 1.59, which is lower than the VALAX Sharpe Ratio of 3.96. The chart below compares the historical Sharpe Ratios of SWDSX and VALAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SWDSX	VALAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	3.96	-2.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.68	0.66	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.75	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.44	+0.05

Drawdowns

SWDSX vs. VALAX - Drawdown Comparison

The maximum SWDSX drawdown since its inception was -50.01%, smaller than the maximum VALAX drawdown of -61.26%. Use the drawdown chart below to compare losses from any high point for SWDSX and VALAX.

Drawdown Indicators

	SWDSX	VALAX	Difference
Max Drawdown Largest peak-to-trough decline	-50.01%	-61.26%	+11.25%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	-8.56%	+2.40%
Max Drawdown (3Y) Largest decline over 3 years	-11.67%	-25.81%	+14.14%
Max Drawdown (5Y) Largest decline over 5 years	-17.94%	-25.81%	+7.87%
Max Drawdown (10Y) Largest decline over 10 years	-40.20%	-38.22%	-1.98%
Current Drawdown Current decline from peak	-0.21%	0.00%	-0.21%
Average Drawdown Average peak-to-trough decline	-6.78%	-10.75%	+3.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	2.14%	-0.33%

Volatility

SWDSX vs. VALAX - Volatility Comparison

The current volatility for Schwab Dividend Equity Fund™ (SWDSX) is 2.21%, while Al Frank Fund (VALAX) has a volatility of 4.18%. This indicates that SWDSX experiences smaller price fluctuations and is considered to be less risky than VALAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWDSX	VALAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	4.18%	-1.97%
Volatility (6M) Calculated over the trailing 6-month period	7.39%	10.72%	-3.33%
Volatility (1Y) Calculated over the trailing 1-year period	9.25%	13.67%	-4.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.20%	17.78%	-4.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	19.34%	-2.44%

SWDSX vs. VALAX - Expense Ratio Comparison

SWDSX has a 0.89% expense ratio, which is lower than VALAX's 1.24% expense ratio.

Dividends

SWDSX vs. VALAX - Dividend Comparison

SWDSX's dividend yield for the trailing twelve months is around 1.16%, less than VALAX's 7.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VALAX Al Frank Fund	7.03%	8.65%	10.32%	5.95%	8.62%	6.83%	7.17%	13.51%	10.73%	10.66%	5.32%	9.53%

Frequently Asked Questions

Can I hold both SWDSX and VALAX in my portfolio?

SWDSX and VALAX have a correlation of 0.74, 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 VALAX?

VALAX has higher volatility (4.18%) compared to SWDSX (2.21%). In terms of maximum drawdown, SWDSX dropped -50.01% vs VALAX's -61.26%.

Which has better risk-adjusted returns?

VALAX currently has the higher Sharpe Ratio (3.96 vs 1.59), 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.