SWLGX vs. SWDSX

Last updated Jun 4, 2026

SWLGX (Schwab U.S. Large-Cap Growth Index Fund) and SWDSX (Schwab Dividend Equity Fund™) are both mutual funds - SWLGX is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index, while SWDSX is a Large Cap Value Equities fund managed by Charles Schwab. Over the past 5 years, SWLGX returned 16.03%/yr vs 8.88%/yr for SWDSX. A 0.66 correlation means they provide meaningful diversification when combined. SWLGX charges 0.04%/yr vs 0.89%/yr for SWDSX.

Performance

SWLGX vs. SWDSX - 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 Dividend Equity Fund™ (SWDSX). 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 SWDSX's 7.10% return.

SWLGX

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

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%

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

SWLGX vs. SWDSX - 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%
SWDSX Schwab Dividend Equity Fund™	7.10%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	0.18%

Correlation

The correlation between SWLGX and SWDSX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (5Y) Calculated over the trailing 5-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.66

Over the past year, the correlation between SWLGX and SWDSX has dropped to 0.41 - well below their long-term average of 0.66, suggesting their price drivers have been diverging.

Return for Risk

SWLGX vs. SWDSX — 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

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

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. SWDSX - 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 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.

	SWLGX	SWDSX	Difference
Sharpe ratio: Return per unit of total volatility	1.85	1.59	+0.26
Sortino ratio: Return per unit of downside risk	2.50	2.20	+0.31
Omega ratio: Gain probability vs. loss probability	1.32	1.29	+0.03
Calmar ratio: Return relative to maximum drawdown	1.76	2.38	-0.63
Martin ratio: Return relative to average drawdown	5.92	8.06	-2.14
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. SWDSX - Sharpe Ratio Comparison

The current SWLGX Sharpe Ratio is 1.85, which is comparable to the SWDSX Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of SWLGX 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.

Sharpe Ratios by Period

	SWLGX	SWDSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	1.59	+0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.75	0.68	+0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.54	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.49	+0.31

Drawdowns

SWLGX vs. SWDSX - Drawdown Comparison

The maximum SWLGX drawdown since its inception was -32.69%, smaller than the maximum SWDSX drawdown of -50.01%. Use the drawdown chart below to compare losses from any high point for SWLGX and SWDSX.

Drawdown Indicators

	SWLGX	SWDSX	Difference
Max Drawdown Largest peak-to-trough decline	-32.69%	-50.01%	+17.32%
Max Drawdown (1Y) Largest decline over 1 year	-16.16%	-6.16%	-10.00%
Max Drawdown (3Y) Largest decline over 3 years	-23.30%	-11.67%	-11.63%
Max Drawdown (5Y) Largest decline over 5 years	-32.69%	-17.94%	-14.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.20%	—
Current Drawdown Current decline from peak	-0.37%	-0.21%	-0.16%
Average Drawdown Average peak-to-trough decline	-7.05%	-6.78%	-0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.80%	1.81%	+2.99%

Volatility

SWLGX vs. SWDSX - Volatility Comparison

Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a higher volatility of 3.30% compared to Schwab Dividend Equity Fund™ (SWDSX) at 2.21%. This indicates that SWLGX'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

	SWLGX	SWDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.30%	2.21%	+1.09%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	7.39%	+4.20%
Volatility (1Y) Calculated over the trailing 1-year period	15.40%	9.25%	+6.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.49%	13.20%	+8.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.68%	16.90%	+5.78%

SWLGX vs. SWDSX - Expense Ratio Comparison

SWLGX has a 0.04% expense ratio, which is lower than SWDSX's 0.89% expense ratio.

Dividends

SWLGX vs. SWDSX - Dividend Comparison

SWLGX's dividend yield for the trailing twelve months is around 0.42%, less than SWDSX's 1.16% 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%
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 SWDSX in my portfolio?

SWLGX and SWDSX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWLGX or SWDSX?

SWLGX has higher volatility (3.30%) compared to SWDSX (2.21%). In terms of maximum drawdown, SWLGX dropped -32.69% vs SWDSX's -50.01%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.85 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.