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SWISX vs. SWSSX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWISX vs. SWSSX

Last updated Jun 4, 2026

SWISX (Schwab International Index Fund) and SWSSX (Schwab Small-Cap Index Fund-Select Shares) are both mutual funds - SWISX is a Foreign Large Cap Equities fund tracking the MSCI EAFE Index (Net), while SWSSX is a Small Cap Blend Equities fund tracking the Russell 2000 Index. Both are passively managed. Over the past 10 years, SWISX returned 9.33%/yr vs 11.20%/yr for SWSSX. A 0.66 correlation means they provide meaningful diversification when combined. SWISX charges 0.06%/yr vs 0.04%/yr for SWSSX.

Performance

SWISX vs. SWSSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab International Index Fund (SWISX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SWISX achieves a 9.54% return, which is significantly lower than SWSSX's 18.71% return. Over the past 10 years, SWISX has underperformed SWSSX with an annualized return of 9.33%, while SWSSX has yielded a comparatively higher 11.20% annualized return.

SWISX

1D
0.35%
1M
4.10%
YTD
9.54%
6M
11.96%
1Y
22.29%
3Y*
17.02%
5Y*
8.74%
10Y*
9.33%

SWSSX

1D
0.92%
1M
5.00%
YTD
18.71%
6M
17.43%
1Y
41.24%
3Y*
18.69%
5Y*
6.65%
10Y*
11.20%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SWISX vs. SWSSX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SWISX
Schwab International Index Fund		9.54%31.59%3.54%18.13%-14.30%11.25%8.14%21.87%-13.38%25.32%
SWSSX
Schwab Small-Cap Index Fund-Select Shares		18.71%12.88%11.57%17.07%-20.43%14.77%20.12%25.63%-11.19%14.76%

Correlation

The correlation between SWISX and SWSSX is 0.69, 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

0.69

Correlation (3Y)
Calculated over the trailing 3-year period

0.67

Correlation (5Y)
Calculated over the trailing 5-year period

0.71

Correlation (10Y)
Calculated over the trailing 10-year period

0.70

Correlation (All Time)
Calculated using the full available price history since Jan 5, 1998

0.66

The correlation between SWISX and SWSSX has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.

SWISX vs. SWSSX - Sectors Allocation Comparison

Sectors
SWISX
SWSSX

Financial Services

24.4%
15.8%

Industrials

20.3%
17.7%

Technology

10.7%
17.0%

Healthcare

9.2%
16.5%

Consumer Cyclical

7.7%
8.4%

Consumer Defensive

7.0%
2.4%

Basic Materials

6.1%
4.8%

Communication Services

4.6%
2.4%

Energy

4.1%
6.1%

Utilities

4.0%
2.9%

Real Estate

2.0%
6.1%

Financial Services

SWISX
24.4%
SWSSX
15.8%

Industrials

SWISX
20.3%
SWSSX
17.7%

Technology

SWISX
10.7%
SWSSX
17.0%

Healthcare

SWISX
9.2%
SWSSX
16.5%

Consumer Cyclical

SWISX
7.7%
SWSSX
8.4%

Consumer Defensive

SWISX
7.0%
SWSSX
2.4%

Basic Materials

SWISX
6.1%
SWSSX
4.8%

Communication Services

SWISX
4.6%
SWSSX
2.4%

Energy

SWISX
4.1%
SWSSX
6.1%

Utilities

SWISX
4.0%
SWSSX
2.9%

Real Estate

SWISX
2.0%
SWSSX
6.1%

Compare stocks, funds, or ETFs

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Schwab International Index Fund

Schwab Small-Cap Index Fund-Select Shares

Often compared with SWISX:
SWISX vs. SCHFSWISX vs. VXUSSWISX vs. SWTSXSWISX vs. VTIAXSWISX vs. SFNNXSWISX vs. FTIHXSWISX vs. SWPPX
Often compared with SWSSX:
SWSSX vs. SCHASWSSX vs. SWPPXSWSSX vs. SFSNXSWSSX vs. SWSCXSWSSX vs. VSMAXSWSSX vs. VSIAXSWSSX vs. VBR

Return for Risk

SWISX vs. SWSSX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SWISX
SWISX Risk / Return Rank: 2626
Overall Rank
SWISX Sharpe Ratio Rank: 2525
Sharpe Ratio Rank
SWISX Sortino Ratio Rank: 2424
Sortino Ratio Rank
SWISX Omega Ratio Rank: 2424
Omega Ratio Rank
SWISX Calmar Ratio Rank: 2525
Calmar Ratio Rank
SWISX Martin Ratio Rank: 3030
Martin Ratio Rank
SWSSX
SWSSX Risk / Return Rank: 6464
Overall Rank
SWSSX Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
SWSSX Sortino Ratio Rank: 5555
Sortino Ratio Rank
SWSSX Omega Ratio Rank: 4747
Omega Ratio Rank
SWSSX Calmar Ratio Rank: 8484
Calmar Ratio Rank
SWSSX Martin Ratio Rank: 7474
Martin Ratio Rank
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. SWSSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Index Fund (SWISX) and Schwab Small-Cap Index Fund-Select Shares (SWSSX). 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.

SWISXSWSSXDifference
Sharpe ratioReturn per unit of total volatility
1.41
2.28

-0.87

Sortino ratioReturn per unit of downside risk
2.03
3.13

-1.10

Omega ratioGain probability vs. loss probability

1.26

1.37

-0.12

Calmar ratioReturn relative to maximum drawdown

1.88

3.97

-2.09

Martin ratioReturn relative to average drawdown

7.06

14.11

-7.04

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWISX vs. SWSSX - Sharpe Ratio Comparison

The current SWISX Sharpe Ratio is 1.41, which is lower than the SWSSX Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of SWISX and SWSSX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SWISXSWSSXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.41

2.28

-0.87

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.54

0.30

+0.24

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

0.47

+0.09

Sharpe Ratio (All Time)

Calculated using the full available price history

0.31

0.36

-0.06

Drawdowns

SWISX vs. SWSSX - Drawdown Comparison

The maximum SWISX drawdown since its inception was -60.65%, roughly equal to the maximum SWSSX drawdown of -60.34%. Use the drawdown chart below to compare losses from any high point for SWISX and SWSSX.

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Drawdown Indicators

SWISXSWSSXDifference

Max Drawdown

Largest peak-to-trough decline

-60.65%

-60.34%

-0.31%

Max Drawdown (1Y)

Largest decline over 1 year

-11.39%

-11.00%

-0.39%

Max Drawdown (3Y)

Largest decline over 3 years

-13.68%

-27.50%

+13.82%

Max Drawdown (5Y)

Largest decline over 5 years

-29.42%

-31.93%

+2.51%

Max Drawdown (10Y)

Largest decline over 10 years

-33.83%

-41.81%

+7.98%

Current Drawdown

Current decline from peak

-0.47%

-0.13%

-0.34%

Average Drawdown

Average peak-to-trough decline

-14.81%

-10.73%

-4.08%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.03%

3.09%

-0.06%

Volatility

SWISX vs. SWSSX - Volatility Comparison

The current volatility for Schwab International Index Fund (SWISX) is 4.69%, while Schwab Small-Cap Index Fund-Select Shares (SWSSX) has a volatility of 5.61%. This indicates that SWISX experiences smaller price fluctuations and is considered to be less risky than SWSSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWISXSWSSXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.69%

5.61%

-0.92%

Volatility (6M)

Calculated over the trailing 6-month period

12.35%

13.60%

-1.25%

Volatility (1Y)

Calculated over the trailing 1-year period

15.18%

19.15%

-3.97%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.28%

22.59%

-6.31%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.88%

24.09%

-7.21%

SWISX vs. SWSSX - Expense Ratio Comparison

SWISX has a 0.06% expense ratio, which is higher than SWSSX's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SWISX vs. SWSSX - Dividend Comparison

SWISX's dividend yield for the trailing twelve months is around 3.24%, more than SWSSX's 1.08% yield.

PositionTTM20252024202320222021202020192018201720162015
SWISX
Schwab International Index Fund		3.24%3.55%3.29%3.31%2.73%3.34%1.88%3.09%3.15%2.71%3.19%2.71%
SWSSX
Schwab Small-Cap Index Fund-Select Shares		1.08%1.29%1.66%1.49%1.32%8.88%2.55%6.12%10.45%5.22%4.10%6.92%

Frequently Asked Questions

SWISX and SWSSX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SWSSX has higher volatility (5.61%) compared to SWISX (4.69%). In terms of maximum drawdown, SWISX dropped -60.65% vs SWSSX's -60.34%.

SWSSX currently has the higher Sharpe Ratio (2.28 vs 1.41), 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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