SWLVX vs. AFVLX

Last updated Jun 4, 2026

SWLVX (Schwab U.S. Large-Cap Value Index Fund) and AFVLX (Applied Finance Select Fund) are both Large Cap Value Equities funds. Over the past 5 years, SWLVX returned 10.43%/yr vs 9.41%/yr for AFVLX. Their correlation of 0.93 suggests significant overlap in exposure. SWLVX charges 0.04%/yr vs 1.48%/yr for AFVLX.

Performance

SWLVX vs. AFVLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab U.S. Large-Cap Value Index Fund (SWLVX) and Applied Finance Select Fund (AFVLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWLVX achieves a 14.27% return, which is significantly higher than AFVLX's 11.52% return.

SWLVX

• 1D: 0.81%
• 1M: 4.26%
• YTD: 14.27%
• 6M: 14.87%
• 1Y: 28.30%
• 3Y*: 18.58%
• 5Y*: 10.43%
• 10Y*: —

AFVLX

• 1D: 0.50%
• 1M: 6.33%
• YTD: 11.52%
• 6M: 10.88%
• 1Y: 25.11%
• 3Y*: 15.57%
• 5Y*: 9.41%
• 10Y*: —

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

SWLVX vs. AFVLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
SWLVX Schwab U.S. Large-Cap Value Index Fund	14.27%	15.87%	14.36%	11.45%	-7.61%	25.15%	2.64%	11.77%
AFVLX Applied Finance Select Fund	11.52%	13.12%	7.06%	19.43%	-10.88%	27.73%	15.33%	12.42%

Correlation

The correlation between SWLVX and AFVLX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 4, 2019	0.93

The correlation between SWLVX and AFVLX has been stable across timeframes, ranging from 0.89 to 0.93 - a consistent structural relationship.

Return for Risk

SWLVX vs. AFVLX — Risk / Return Rank

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

SWLVX

SWLVX Risk / Return Rank: 83
SWLVX Sharpe Ratio Rank: 84
SWLVX Sortino Ratio Rank: 81
SWLVX Omega Ratio Rank: 75
SWLVX Calmar Ratio Rank: 88
SWLVX Martin Ratio Rank: 90

AFVLX

AFVLX Risk / Return Rank: 55
AFVLX Sharpe Ratio Rank: 53
AFVLX Sortino Ratio Rank: 50
AFVLX Omega Ratio Rank: 46
AFVLX Calmar Ratio Rank: 66
AFVLX Martin Ratio Rank: 59

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.

SWLVX vs. AFVLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab U.S. Large-Cap Value Index Fund (SWLVX) and Applied Finance Select Fund (AFVLX). 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.

	SWLVX	AFVLX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	2.13	+0.57
Sortino ratio: Return per unit of downside risk	3.81	2.98	+0.82
Omega ratio: Gain probability vs. loss probability	1.49	1.37	+0.12
Calmar ratio: Return relative to maximum drawdown	4.28	3.13	+1.15
Martin ratio: Return relative to average drawdown	17.99	11.77	+6.21
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWLVX vs. AFVLX - Sharpe Ratio Comparison

The current SWLVX Sharpe Ratio is 2.70, which is comparable to the AFVLX Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of SWLVX and AFVLX, 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

	SWLVX	AFVLX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	2.13	+0.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.59	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.68	-0.11

Drawdowns

SWLVX vs. AFVLX - Drawdown Comparison

The maximum SWLVX drawdown since its inception was -38.34%, which is greater than AFVLX's maximum drawdown of -36.29%. Use the drawdown chart below to compare losses from any high point for SWLVX and AFVLX.

Drawdown Indicators

	SWLVX	AFVLX	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-36.29%	-2.05%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-8.42%	+1.60%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-17.74%	+2.13%
Max Drawdown (5Y) Largest decline over 5 years	-19.05%	-20.12%	+1.07%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.84%	-4.75%	-0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	2.23%	-0.61%

Volatility

SWLVX vs. AFVLX - Volatility Comparison

Schwab U.S. Large-Cap Value Index Fund (SWLVX) and Applied Finance Select Fund (AFVLX) have volatilities of 3.09% and 3.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWLVX	AFVLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.09%	3.03%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	8.19%	9.11%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	10.79%	12.35%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.86%	15.95%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.56%	20.26%	-1.70%

SWLVX vs. AFVLX - Expense Ratio Comparison

SWLVX has a 0.04% expense ratio, which is lower than AFVLX's 1.48% expense ratio.

Dividends

SWLVX vs. AFVLX - Dividend Comparison

SWLVX's dividend yield for the trailing twelve months is around 1.77%, less than AFVLX's 3.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
AFVLX Applied Finance Select Fund	3.35%	3.74%	3.80%	1.18%	1.02%	2.11%	1.09%	0.68%	0.00%
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.77%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%

Frequently Asked Questions

Can I hold both SWLVX and AFVLX in my portfolio?

SWLVX and AFVLX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWLVX or AFVLX?

SWLVX has higher volatility (3.09%) compared to AFVLX (3.03%). In terms of maximum drawdown, SWLVX dropped -38.34% vs AFVLX's -36.29%.

Which has better risk-adjusted returns?

SWLVX currently has the higher Sharpe Ratio (2.70 vs 2.13), 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.