SWISX vs. SWDSX

Last updated Jun 13, 2026

SWISX (Schwab International Index Fund) and SWDSX (Schwab Dividend Equity Fund™) are both mutual funds - SWISX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net), while SWDSX is a Large Cap Value Equities fund managed by Charles Schwab. Over the past 10 years, SWISX returned 9.70%/yr vs 9.28%/yr for SWDSX. A 0.76 correlation means they provide meaningful diversification when combined. SWISX charges 0.06%/yr vs 0.89%/yr for SWDSX.

Performance

SWISX vs. SWDSX - Performance Comparison

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

Returns By Period

In the year-to-date period, SWISX achieves a 8.95% return, which is significantly higher than SWDSX's 7.38% return. Both investments have delivered pretty close results over the past 10 years, with SWISX having a 9.70% annualized return and SWDSX not far behind at 9.28%.

SWISX

• 1D: 3.03%
• 1M: 0.97%
• YTD: 8.95%
• 6M: 10.44%
• 1Y: 21.50%
• 3Y*: 16.43%
• 5Y*: 8.36%
• 10Y*: 9.70%

SWDSX

• 1D: 0.63%
• 1M: 1.00%
• YTD: 7.38%
• 6M: 4.19%
• 1Y: 14.79%
• 3Y*: 14.73%
• 5Y*: 8.89%
• 10Y*: 9.28%

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

SWISX vs. SWDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWISX Schwab International Index Fund	8.95%	31.59%	3.54%	18.13%	-14.30%	11.25%	8.14%	21.87%	-13.38%	25.32%
SWDSX Schwab Dividend Equity Fund™	7.38%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	15.40%

Correlation

The correlation between SWISX and SWDSX is 0.64, 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	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.73
Correlation (All Time) Calculated using the full available price history since Sep 2, 2003	0.76

The correlation between SWISX and SWDSX shifts across timeframes, from 0.61 (3 years) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SWISX vs. SWDSX — Risk / Return Rank

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

SWISX

SWISX Risk / Return Rank: 35
SWISX Sharpe Ratio Rank: 34
SWISX Sortino Ratio Rank: 34
SWISX Omega Ratio Rank: 34
SWISX Calmar Ratio Rank: 35
SWISX Martin Ratio Rank: 39

SWDSX

SWDSX Risk / Return Rank: 46
SWDSX Sharpe Ratio Rank: 44
SWDSX Sortino Ratio Rank: 42
SWDSX Omega Ratio Rank: 44
SWDSX Calmar Ratio Rank: 55
SWDSX Martin Ratio Rank: 45

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.

SWISX vs. SWDSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Index Fund (SWISX) and Schwab Dividend Equity Fund™ (SWDSX). 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.

	SWISX	SWDSX	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.54	-0.21
Sortino ratio: Return per unit of downside risk	1.92	2.13	-0.21
Omega ratio: Gain probability vs. loss probability	1.24	1.28	-0.04
Calmar ratio: Return relative to maximum drawdown	1.83	2.32	-0.49
Martin ratio: Return relative to average drawdown	6.82	7.85	-1.03

SWISX vs. SWDSX - Sharpe Ratio Comparison

The current SWISX Sharpe Ratio is 1.33, which is comparable to the SWDSX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of SWISX and SWDSX, 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

SWISX vs. SWDSX - Drawdown Comparison

The maximum SWISX drawdown since its inception was -60.65%, which is greater than SWDSX's maximum drawdown of -50.01%. Use the drawdown chart below to compare losses from any high point for SWISX and SWDSX.

Drawdown Indicators

	SWISX	SWDSX	Difference
Max Drawdown Largest peak-to-trough decline	-60.65%	-50.01%	-10.64%
Max Drawdown (1Y) Largest decline over 1 year	-11.39%	-6.16%	-5.23%
Max Drawdown (3Y) Largest decline over 3 years	-13.68%	-11.67%	-2.01%
Max Drawdown (5Y) Largest decline over 5 years	-29.42%	-17.94%	-11.48%
Max Drawdown (10Y) Largest decline over 10 years	-33.83%	-40.20%	+6.37%
Current Drawdown Current decline from peak	-1.01%	-0.05%	-0.96%
Average Drawdown Average peak-to-trough decline	-14.80%	-6.77%	-8.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.05%	1.82%	+1.23%

Volatility

SWISX vs. SWDSX - Volatility Comparison

Schwab International Index Fund (SWISX) has a higher volatility of 5.34% compared to Schwab Dividend Equity Fund™ (SWDSX) at 2.24%. This indicates that SWISX's price experiences larger fluctuations and is considered to be riskier than SWDSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWISX	SWDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	2.24%	+3.10%
Volatility (6M) Calculated over the trailing 6-month period	13.07%	7.36%	+5.71%
Volatility (1Y) Calculated over the trailing 1-year period	15.74%	9.31%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.39%	13.21%	+3.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.90%	16.89%	+0.01%

SWISX vs. SWDSX - Expense Ratio Comparison

SWISX has a 0.06% expense ratio, which is lower than SWDSX's 0.89% expense ratio.

Dividends

SWISX vs. SWDSX - Dividend Comparison

SWISX's dividend yield for the trailing twelve months is around 3.26%, more than SWDSX's 1.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWDSX Schwab Dividend Equity Fund™	1.15%	1.22%	2.59%	2.25%	6.83%	16.25%	2.09%	6.86%	11.63%	10.24%	1.68%	14.46%
SWISX Schwab International Index Fund	3.26%	3.55%	3.29%	3.31%	2.73%	3.34%	1.88%	3.09%	3.15%	2.71%	3.19%	2.71%

Frequently Asked Questions

Can I hold both SWISX and SWDSX in my portfolio?

SWISX and SWDSX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWISX or SWDSX?

SWISX has higher volatility (5.34%) compared to SWDSX (2.24%). In terms of maximum drawdown, SWISX dropped -60.65% vs SWDSX's -50.01%.

Which has better risk-adjusted returns?

SWDSX currently has the higher Sharpe Ratio (1.54 vs 1.33), 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.