SWMIX vs. IVFIX

Last updated Jun 4, 2026

SWMIX (Schwab International Opportunities Fund) and IVFIX (Federated Hermes International Strategic Value Dividend Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, SWMIX returned 7.70%/yr vs 6.83%/yr for IVFIX. A 0.79 correlation means they provide meaningful diversification when combined. SWMIX charges 0.99%/yr vs 0.86%/yr for IVFIX.

Performance

SWMIX vs. IVFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab International Opportunities Fund (SWMIX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWMIX achieves a 13.39% return, which is significantly higher than IVFIX's 6.24% return. Over the past 10 years, SWMIX has outperformed IVFIX with an annualized return of 7.70%, while IVFIX has yielded a comparatively lower 6.83% annualized return.

SWMIX

• 1D: 0.26%
• 1M: 5.49%
• YTD: 13.39%
• 6M: 8.69%
• 1Y: 19.50%
• 3Y*: 12.77%
• 5Y*: 2.73%
• 10Y*: 7.70%

IVFIX

• 1D: 0.42%
• 1M: -0.70%
• YTD: 6.24%
• 6M: 8.36%
• 1Y: 16.08%
• 3Y*: 14.05%
• 5Y*: 9.14%
• 10Y*: 6.83%

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

SWMIX vs. IVFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWMIX Schwab International Opportunities Fund	13.39%	21.83%	0.91%	12.52%	-25.35%	5.78%	23.94%	26.07%	-19.12%	33.64%
IVFIX Federated Hermes International Strategic Value Dividend Fund	6.24%	31.79%	1.91%	11.05%	-2.54%	11.58%	-1.74%	20.15%	-11.96%	14.63%

Correlation

The correlation between SWMIX and IVFIX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jun 4, 2008	0.79

Over the past year, the correlation between SWMIX and IVFIX has dropped to 0.49 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.

Return for Risk

SWMIX vs. IVFIX — Risk / Return Rank

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

SWMIX

SWMIX Risk / Return Rank: 16
SWMIX Sharpe Ratio Rank: 14
SWMIX Sortino Ratio Rank: 13
SWMIX Omega Ratio Rank: 17
SWMIX Calmar Ratio Rank: 17
SWMIX Martin Ratio Rank: 20

IVFIX

IVFIX Risk / Return Rank: 34
IVFIX Sharpe Ratio Rank: 30
IVFIX Sortino Ratio Rank: 29
IVFIX Omega Ratio Rank: 31
IVFIX Calmar Ratio Rank: 50
IVFIX Martin Ratio Rank: 32

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.

SWMIX vs. IVFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Opportunities Fund (SWMIX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). 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.

	SWMIX	IVFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	1.57	-0.51
Sortino ratio: Return per unit of downside risk	1.44	2.25	-0.81
Omega ratio: Gain probability vs. loss probability	1.21	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.47	2.71	-1.23
Martin ratio: Return relative to average drawdown	5.33	7.31	-1.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWMIX vs. IVFIX - Sharpe Ratio Comparison

The current SWMIX Sharpe Ratio is 1.06, which is lower than the IVFIX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of SWMIX and IVFIX, 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

	SWMIX	IVFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	1.57	-0.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.73	-0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.42	0.47	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.21	+0.17

Drawdowns

SWMIX vs. IVFIX - Drawdown Comparison

The maximum SWMIX drawdown since its inception was -61.81%, which is greater than IVFIX's maximum drawdown of -51.49%. Use the drawdown chart below to compare losses from any high point for SWMIX and IVFIX.

Drawdown Indicators

	SWMIX	IVFIX	Difference
Max Drawdown Largest peak-to-trough decline	-61.81%	-51.49%	-10.32%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-6.97%	-5.93%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-10.75%	-5.81%
Max Drawdown (5Y) Largest decline over 5 years	-40.51%	-21.29%	-19.22%
Max Drawdown (10Y) Largest decline over 10 years	-40.51%	-33.46%	-7.05%
Current Drawdown Current decline from peak	0.00%	-5.67%	+5.67%
Average Drawdown Average peak-to-trough decline	-12.66%	-11.62%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.55%	2.59%	+0.96%

Volatility

SWMIX vs. IVFIX - Volatility Comparison

Schwab International Opportunities Fund (SWMIX) has a higher volatility of 5.27% compared to Federated Hermes International Strategic Value Dividend Fund (IVFIX) at 4.83%. This indicates that SWMIX's price experiences larger fluctuations and is considered to be riskier than IVFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWMIX	IVFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.27%	4.83%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	15.72%	9.35%	+6.37%
Volatility (1Y) Calculated over the trailing 1-year period	17.90%	12.10%	+5.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.15%	13.13%	+5.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.31%	14.78%	+3.53%

SWMIX vs. IVFIX - Expense Ratio Comparison

SWMIX has a 0.99% expense ratio, which is higher than IVFIX's 0.86% expense ratio.

Dividends

SWMIX vs. IVFIX - Dividend Comparison

SWMIX has not paid dividends to shareholders, while IVFIX's dividend yield for the trailing twelve months is around 3.58%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVFIX Federated Hermes International Strategic Value Dividend Fund	3.58%	3.37%	4.44%	4.01%	3.99%	3.67%	3.62%	3.98%	4.97%	4.17%	3.38%	3.95%
SWMIX Schwab International Opportunities Fund	0.00%	0.00%	2.04%	1.73%	3.59%	17.50%	6.16%	1.94%	10.57%	4.60%	0.87%	7.20%

Frequently Asked Questions

Can I hold both SWMIX and IVFIX in my portfolio?

SWMIX and IVFIX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWMIX or IVFIX?

SWMIX has higher volatility (5.27%) compared to IVFIX (4.83%). In terms of maximum drawdown, SWMIX dropped -61.81% vs IVFIX's -51.49%.

Which has better risk-adjusted returns?

IVFIX currently has the higher Sharpe Ratio (1.57 vs 1.06), 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.