SWNTX vs. SCMB
Compare and contrast key facts about Schwab Tax-Free Bond Fund™ (SWNTX) and Schwab Municipal Bond ETF (SCMB).
SWNTX is managed by Charles Schwab. It was launched on Sep 10, 1992. SCMB is a passively managed fund by Charles Schwab that tracks the performance of the ICE AMT-Free Core U.S. National Municipal Index - Benchmark TR Gross. It was launched on Oct 11, 2022.
Performance
SWNTX vs. SCMB - Performance Comparison
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SWNTX vs. SCMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SWNTX Schwab Tax-Free Bond Fund™ | -0.62% | 4.20% | 1.57% | 5.09% | 2.62% |
SCMB Schwab Municipal Bond ETF | -0.51% | 3.78% | 0.91% | 5.86% | 3.05% |
Returns By Period
In the year-to-date period, SWNTX achieves a -0.62% return, which is significantly lower than SCMB's -0.51% return.
SWNTX
- 1D
- 0.19%
- 1M
- -2.70%
- YTD
- -0.62%
- 6M
- 0.90%
- 1Y
- 3.60%
- 3Y*
- 2.58%
- 5Y*
- 0.44%
- 10Y*
- 1.55%
SCMB
- 1D
- 0.24%
- 1M
- -2.42%
- YTD
- -0.51%
- 6M
- 1.25%
- 1Y
- 3.88%
- 3Y*
- 2.44%
- 5Y*
- —
- 10Y*
- —
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SWNTX vs. SCMB - Expense Ratio Comparison
SWNTX has a 0.48% expense ratio, which is higher than SCMB's 0.03% expense ratio.
Return for Risk
SWNTX vs. SCMB — Risk / Return Rank
SWNTX
SCMB
SWNTX vs. SCMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Tax-Free Bond Fund™ (SWNTX) and Schwab Municipal Bond ETF (SCMB). 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.
| SWNTX | SCMB | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 0.94 | +0.07 |
Sortino ratioReturn per unit of downside risk | 1.38 | 1.22 | +0.16 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.21 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.05 | +0.03 |
Martin ratioReturn relative to average drawdown | 3.58 | 2.98 | +0.60 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SWNTX | SCMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 0.94 | +0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 0.90 | +0.26 |
Correlation
The correlation between SWNTX and SCMB is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SWNTX vs. SCMB - Dividend Comparison
SWNTX's dividend yield for the trailing twelve months is around 3.26%, less than SCMB's 3.38% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SWNTX Schwab Tax-Free Bond Fund™ | 3.26% | 3.78% | 3.20% | 2.54% | 1.73% | 1.62% | 2.34% | 2.58% | 2.41% | 2.21% | 3.14% | 2.71% |
SCMB Schwab Municipal Bond ETF | 3.38% | 3.36% | 3.34% | 3.10% | 0.59% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
SWNTX vs. SCMB - Drawdown Comparison
The maximum SWNTX drawdown since its inception was -13.26%, which is greater than SCMB's maximum drawdown of -6.13%. Use the drawdown chart below to compare losses from any high point for SWNTX and SCMB.
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Drawdown Indicators
| SWNTX | SCMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.26% | -6.13% | -7.13% |
Max Drawdown (1Y)Largest decline over 1 year | -4.40% | -3.79% | -0.61% |
Max Drawdown (5Y)Largest decline over 5 years | -13.26% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -13.26% | — | — |
Current DrawdownCurrent decline from peak | -2.70% | -2.42% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -1.32% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.34% | -0.01% |
Volatility
SWNTX vs. SCMB - Volatility Comparison
The current volatility for Schwab Tax-Free Bond Fund™ (SWNTX) is 0.94%, while Schwab Municipal Bond ETF (SCMB) has a volatility of 1.47%. This indicates that SWNTX experiences smaller price fluctuations and is considered to be less risky than SCMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SWNTX | SCMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 1.47% | -0.53% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 2.02% | -0.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 4.15% | +0.28% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 4.22% | -0.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 4.22% | -0.66% |