SWMIX vs. SIL

Last updated Jun 25, 2026

SWMIX (Schwab International Opportunities Fund) and SIL (Global X Silver Miners ETF) are both funds - SWMIX is a Foreign Large Cap Equities fund managed by Charles Schwab, while SIL is a Silver fund tracking the Solactive Global Silver Miners Total Return Index. Over the past 10 years, SWMIX returned 8.04%/yr vs 8.22%/yr for SIL. At a 0.42 correlation, their price movements are largely independent. SWMIX charges 0.99%/yr vs 0.65%/yr for SIL.

Performance

SWMIX vs. SIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab International Opportunities Fund (SWMIX) and Global X Silver Miners ETF (SIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWMIX achieves a 10.19% return, which is significantly higher than SIL's -9.52% return. Both investments have delivered pretty close results over the past 10 years, with SWMIX having a 8.04% annualized return and SIL not far ahead at 8.22%.

SWMIX

• 1D: -3.32%
• 1M: -0.34%
• YTD: 10.19%
• 6M: 9.78%
• 1Y: 13.78%
• 3Y*: 11.91%
• 5Y*: 2.09%
• 10Y*: 8.04%

SIL

• 1D: -3.77%
• 1M: -14.23%
• YTD: -9.52%
• 6M: -12.87%
• 1Y: 62.10%
• 3Y*: 45.49%
• 5Y*: 13.12%
• 10Y*: 8.22%

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

SWMIX vs. SIL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWMIX Schwab International Opportunities Fund	10.19%	21.83%	0.91%	12.52%	-25.35%	5.78%	23.94%	26.07%	-19.12%	33.64%
SIL Global X Silver Miners ETF	-9.52%	166.16%	14.62%	1.31%	-22.83%	-18.35%	40.30%	34.78%	-22.42%	1.67%

Correlation

The correlation between SWMIX and SIL is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.54
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.43
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.42

The correlation between SWMIX and SIL shifts across timeframes, from 0.42 (all time) to 0.54 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

SWMIX vs. SIL — Risk / Return Rank

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

SWMIX

SWMIX Risk / Return Rank: 14
SWMIX Sharpe Ratio Rank: 11
SWMIX Sortino Ratio Rank: 10
SWMIX Omega Ratio Rank: 13
SWMIX Calmar Ratio Rank: 15
SWMIX Martin Ratio Rank: 19

SIL

SIL Risk / Return Rank: 34
SIL Sharpe Ratio Rank: 36
SIL Sortino Ratio Rank: 33
SIL Omega Ratio Rank: 35
SIL Calmar Ratio Rank: 36
SIL Martin Ratio Rank: 31

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. SIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab International Opportunities Fund (SWMIX) and Global X Silver Miners ETF (SIL). 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.

	SWMIX	SIL	Difference
Sharpe ratio: Return per unit of total volatility	0.82	1.18	-0.36
Sortino ratio: Return per unit of downside risk	1.15	1.63	-0.48
Omega ratio: Gain probability vs. loss probability	1.17	1.22	-0.05
Calmar ratio: Return relative to maximum drawdown	1.22	1.68	-0.46
Martin ratio: Return relative to average drawdown	4.35	4.22	+0.13

SWMIX vs. SIL - Sharpe Ratio Comparison

The current SWMIX Sharpe Ratio is 0.82, which is lower than the SIL Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of SWMIX and SIL, 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

SWMIX vs. SIL - Drawdown Comparison

The maximum SWMIX drawdown since its inception was -61.81%, smaller than the maximum SIL drawdown of -82.99%. Use the drawdown chart below to compare losses from any high point for SWMIX and SIL.

Drawdown Indicators

	SWMIX	SIL	Difference
Max Drawdown Largest peak-to-trough decline	-61.81%	-82.99%	+21.18%
Max Drawdown (1Y) Largest decline over 1 year	-12.90%	-37.08%	+24.18%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-37.08%	+20.52%
Max Drawdown (5Y) Largest decline over 5 years	-40.51%	-49.48%	+8.97%
Max Drawdown (10Y) Largest decline over 10 years	-40.51%	-63.04%	+22.53%
Current Drawdown Current decline from peak	-3.32%	-35.97%	+32.65%
Average Drawdown Average peak-to-trough decline	-12.63%	-51.37%	+38.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.59%	14.75%	-11.16%

Volatility

SWMIX vs. SIL - Volatility Comparison

The current volatility for Schwab International Opportunities Fund (SWMIX) is 7.77%, while Global X Silver Miners ETF (SIL) has a volatility of 19.73%. This indicates that SWMIX experiences smaller price fluctuations and is considered to be less risky than SIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWMIX	SIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	19.73%	-11.96%
Volatility (6M) Calculated over the trailing 6-month period	15.27%	44.48%	-29.21%
Volatility (1Y) Calculated over the trailing 1-year period	19.16%	52.74%	-33.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.41%	39.88%	-21.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.23%	39.91%	-21.68%

SWMIX vs. SIL - Expense Ratio Comparison

SWMIX has a 0.99% expense ratio, which is higher than SIL's 0.65% expense ratio.

Dividends

SWMIX vs. SIL - Dividend Comparison

SWMIX has not paid dividends to shareholders, while SIL's dividend yield for the trailing twelve months is around 1.31%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SIL Global X Silver Miners ETF	1.31%	1.18%	2.40%	0.59%	0.48%	1.59%	1.92%	1.53%	1.21%	0.02%	3.34%	0.38%
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 SIL in my portfolio?

SWMIX and SIL have a correlation of 0.54, 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 SIL?

SIL has higher volatility (19.73%) compared to SWMIX (7.77%). In terms of maximum drawdown, SWMIX dropped -61.81% vs SIL's -82.99%.

Which has better risk-adjusted returns?

SIL currently has the higher Sharpe Ratio (1.18 vs 0.82), 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.