SWLVX vs. SWDSX

Last updated Jun 25, 2026

SWLVX (Schwab U.S. Large-Cap Value Index Fund) and SWDSX (Schwab Dividend Equity Fund™) are both Large Cap Value Equities funds from Charles Schwab. Over the past 5 years, SWLVX returned 11.03%/yr vs 9.33%/yr for SWDSX. With a 0.96 correlation, they move nearly in lockstep. SWLVX charges 0.04%/yr vs 0.89%/yr for SWDSX.

Performance

SWLVX vs. SWDSX - 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 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, SWLVX achieves a 15.38% return, which is significantly higher than SWDSX's 7.38% return.

SWLVX

• 1D: -1.11%
• 1M: 2.29%
• YTD: 15.38%
• 6M: 14.18%
• 1Y: 27.28%
• 3Y*: 18.58%
• 5Y*: 11.03%
• 10Y*: —

SWDSX

• 1D: 0.58%
• 1M: 0.05%
• YTD: 7.38%
• 6M: 6.37%
• 1Y: 13.52%
• 3Y*: 14.99%
• 5Y*: 9.33%
• 10Y*: 9.54%

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

SWLVX vs. SWDSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWLVX Schwab U.S. Large-Cap Value Index Fund	15.38%	15.87%	14.36%	11.45%	-7.61%	25.15%	2.64%	26.49%	-8.39%	0.30%
SWDSX Schwab Dividend Equity Fund™	7.38%	12.31%	17.06%	6.92%	-5.84%	28.24%	-4.33%	24.32%	-12.18%	-0.06%

Correlation

The correlation between SWLVX and SWDSX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.96

The correlation between SWLVX and SWDSX shifts across timeframes, from 0.81 (1 year) to 0.96 (all time), reflecting how their relationship changes across market environments.

Return for Risk

SWLVX vs. SWDSX — Risk / Return Rank

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

SWLVX

SWLVX Risk / Return Rank: 84
SWLVX Sharpe Ratio Rank: 84
SWLVX Sortino Ratio Rank: 81
SWLVX Omega Ratio Rank: 77
SWLVX Calmar Ratio Rank: 88
SWLVX Martin Ratio Rank: 92

SWDSX

SWDSX Risk / Return Rank: 35
SWDSX Sharpe Ratio Rank: 33
SWDSX Sortino Ratio Rank: 31
SWDSX Omega Ratio Rank: 33
SWDSX Calmar Ratio Rank: 41
SWDSX Martin Ratio Rank: 38

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. SWDSX - 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 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.

	SWLVX	SWDSX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.53	+0.99
Sortino ratio: Return per unit of downside risk	3.52	2.12	+1.40
Omega ratio: Gain probability vs. loss probability	1.45	1.28	+0.18
Calmar ratio: Return relative to maximum drawdown	4.17	2.31	+1.86
Martin ratio: Return relative to average drawdown	17.38	7.81	+9.57

SWLVX vs. SWDSX - Sharpe Ratio Comparison

The current SWLVX Sharpe Ratio is 2.52, which is higher than the SWDSX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of SWLVX 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

SWLVX vs. SWDSX - Drawdown Comparison

The maximum SWLVX drawdown since its inception was -38.34%, smaller than the maximum SWDSX drawdown of -50.01%. Use the drawdown chart below to compare losses from any high point for SWLVX and SWDSX.

Drawdown Indicators

	SWLVX	SWDSX	Difference
Max Drawdown Largest peak-to-trough decline	-38.34%	-50.01%	+11.67%
Max Drawdown (1Y) Largest decline over 1 year	-6.82%	-6.16%	-0.66%
Max Drawdown (3Y) Largest decline over 3 years	-15.61%	-11.67%	-3.94%
Max Drawdown (5Y) Largest decline over 5 years	-19.05%	-17.94%	-1.11%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.20%	—
Current Drawdown Current decline from peak	-1.16%	-0.78%	-0.38%
Average Drawdown Average peak-to-trough decline	-4.81%	-6.76%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.63%	1.82%	-0.19%

Volatility

SWLVX vs. SWDSX - Volatility Comparison

Schwab U.S. Large-Cap Value Index Fund (SWLVX) has a higher volatility of 4.19% compared to Schwab Dividend Equity Fund™ (SWDSX) at 2.31%. This indicates that SWLVX'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

	SWLVX	SWDSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.19%	2.31%	+1.88%
Volatility (6M) Calculated over the trailing 6-month period	8.78%	6.56%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	11.30%	9.34%	+1.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.90%	13.14%	+1.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.54%	16.85%	+1.69%

SWLVX vs. SWDSX - Expense Ratio Comparison

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

Dividends

SWLVX vs. SWDSX - Dividend Comparison

SWLVX's dividend yield for the trailing twelve months is around 1.75%, 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%
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.75%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SWLVX and SWDSX in my portfolio?

SWLVX and SWDSX have a correlation of 0.81, 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 SWDSX?

SWLVX has higher volatility (4.19%) compared to SWDSX (2.31%). In terms of maximum drawdown, SWLVX dropped -38.34% vs SWDSX's -50.01%.

Which has better risk-adjusted returns?

SWLVX currently has the higher Sharpe Ratio (2.52 vs 1.53), 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.