SWLGX vs. SCHG

Last updated Jun 4, 2026

SWLGX (Schwab U.S. Large-Cap Growth Index Fund) and SCHG (Schwab U.S. Large-Cap Growth ETF) are both Large Cap Growth Equities funds from Charles Schwab - SWLGX tracks the Russell 1000 Growth Index while SCHG tracks the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. Both are passively managed. Over the past 5 years, SWLGX returned 16.03%/yr vs 15.59%/yr for SCHG. With a 0.99 correlation, they move nearly in lockstep. SWLGX charges 0.04%/yr vs 0.04%/yr for SCHG.

Performance

SWLGX vs. SCHG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Growth Index Fund (SWLGX) and Schwab U.S. Large-Cap Growth ETF (SCHG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWLGX achieves a 8.61% return, which is significantly higher than SCHG's 6.42% return.

SWLGX

• 1D: -0.37%
• 1M: 7.15%
• YTD: 8.61%
• 6M: 8.00%
• 1Y: 27.46%
• 3Y*: 25.54%
• 5Y*: 16.03%
• 10Y*: —

SCHG

• 1D: -1.23%
• 1M: 4.81%
• YTD: 6.42%
• 6M: 5.81%
• 1Y: 24.64%
• 3Y*: 25.02%
• 5Y*: 15.59%
• 10Y*: 18.77%

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

SWLGX vs. SCHG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWLGX Schwab U.S. Large-Cap Growth Index Fund	8.61%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%
SCHG Schwab U.S. Large-Cap Growth ETF	6.42%	17.50%	34.95%	50.10%	-31.80%	28.11%	39.14%	36.02%	-1.36%	-0.30%

Correlation

The correlation between SWLGX and SCHG is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.99

The correlation between SWLGX and SCHG has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.

SWLGX vs. SCHG - Sectors Allocation Comparison

Sectors	SWLGX	SCHG
Technology	51.4%	46.3%
Communication Services	13.2%	16.0%
Consumer Cyclical	13.2%	12.7%
Healthcare	7.1%	7.7%
Industrials	5.7%	5.8%
Financial Services	5.4%	6.7%
Consumer Defensive	2.7%	1.7%
Real Estate	0.4%	0.5%
Energy	0.4%	0.8%
Basic Materials	0.3%	1.4%
Utilities	0.3%	0.4%

Return for Risk

SWLGX vs. SCHG — Risk / Return Rank

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

SWLGX

SWLGX Risk / Return Rank: 32
SWLGX Sharpe Ratio Rank: 40
SWLGX Sortino Ratio Rank: 36
SWLGX Omega Ratio Rank: 37
SWLGX Calmar Ratio Rank: 22
SWLGX Martin Ratio Rank: 23

SCHG

SCHG Risk / Return Rank: 39
SCHG Sharpe Ratio Rank: 45
SCHG Sortino Ratio Rank: 43
SCHG Omega Ratio Rank: 43
SCHG Calmar Ratio Rank: 30
SCHG Martin Ratio Rank: 33

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.

SWLGX vs. SCHG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Growth Index Fund (SWLGX) and Schwab U.S. Large-Cap Growth ETF (SCHG). 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.

	SWLGX	SCHG	Difference
Sharpe ratio Return per unit of total volatility	1.85	1.60	+0.25
Sortino ratio Return per unit of downside risk	2.50	2.18	+0.32
Omega ratio Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio Return relative to maximum drawdown	1.76	1.51	+0.25
Martin ratio Return relative to average drawdown	5.92	5.04	+0.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWLGX vs. SCHG - Sharpe Ratio Comparison

The current SWLGX Sharpe Ratio is 1.85, which is comparable to the SCHG Sharpe Ratio of 1.60. The chart below compares the historical Sharpe Ratios of SWLGX and SCHG, 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

	SWLGX	SCHG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.60	+0.25
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.70	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.84	-0.04

Drawdowns

SWLGX vs. SCHG - Drawdown Comparison

The maximum SWLGX drawdown since its inception was -32.69%, smaller than the maximum SCHG drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for SWLGX and SCHG.

Drawdown Indicators

	SWLGX	SCHG	Difference
Max Drawdown Largest peak-to-trough decline	-32.69%	-34.59%	+1.90%
Max Drawdown (1Y) Largest decline over 1 year	-16.16%	-16.41%	+0.25%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-23.39%	+0.09%
Max Drawdown (5Y) Largest decline over 5 years	-32.69%	-34.59%	+1.90%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.59%	—
Current Drawdown Current decline from peak	-0.37%	-1.78%	+1.41%
Average Drawdown Average peak-to-trough decline	-7.05%	-5.20%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	4.90%	-0.10%

Volatility

SWLGX vs. SCHG - Volatility Comparison

The current volatility for Schwab U.S. Large-Cap Growth Index Fund (SWLGX) is 3.30%, while Schwab U.S. Large-Cap Growth ETF (SCHG) has a volatility of 3.61%. This indicates that SWLGX experiences smaller price fluctuations and is considered to be less risky than SCHG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLGX	SCHG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	3.61%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	11.62%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	15.50%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.49%	22.27%	-0.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	21.55%	+1.13%

SWLGX vs. SCHG - Expense Ratio Comparison

SWLGX has a 0.04% expense ratio, which is lower than SCHG's 0.04% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

SWLGX vs. SCHG - Dividend Comparison

SWLGX's dividend yield for the trailing twelve months is around 0.42%, more than SCHG's 0.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SCHG Schwab U.S. Large-Cap Growth ETF	0.36%	0.36%	0.39%	0.46%	0.55%	0.42%	0.52%	0.82%	1.27%	1.01%	1.04%	1.22%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.42%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWLGX and SCHG in my portfolio?

With a correlation of 0.98, SWLGX and SCHG move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SWLGX or SCHG?

SCHG has higher volatility (3.61%) compared to SWLGX (3.30%). In terms of maximum drawdown, SWLGX dropped -32.69% vs SCHG's -34.59%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.85 vs 1.60), 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.