SWNTX vs. SWCAX
Compare and contrast key facts about Schwab Tax-Free Bond Fund™ (SWNTX) and Schwab California Tax-Free Bond Fund™ (SWCAX).
SWNTX is managed by Charles Schwab. It was launched on Sep 10, 1992. SWCAX is managed by Charles Schwab. It was launched on Feb 23, 1992.
Performance
SWNTX vs. SWCAX - Performance Comparison
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SWNTX vs. SWCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SWNTX Schwab Tax-Free Bond Fund™ | -0.62% | 4.20% | 1.57% | 5.09% | -8.57% | 0.37% | 4.45% | 6.55% | 0.88% | 4.29% |
SWCAX Schwab California Tax-Free Bond Fund™ | -0.74% | 3.95% | 1.51% | 4.73% | -8.10% | 0.36% | 3.93% | 6.02% | 1.16% | 4.37% |
Returns By Period
In the year-to-date period, SWNTX achieves a -0.62% return, which is significantly higher than SWCAX's -0.74% return. Over the past 10 years, SWNTX has outperformed SWCAX with an annualized return of 1.55%, while SWCAX has yielded a comparatively lower 1.42% annualized 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%
SWCAX
- 1D
- 0.09%
- 1M
- -2.66%
- YTD
- -0.74%
- 6M
- 0.80%
- 1Y
- 3.41%
- 3Y*
- 2.45%
- 5Y*
- 0.39%
- 10Y*
- 1.42%
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SWNTX vs. SWCAX - Expense Ratio Comparison
Both SWNTX and SWCAX have an expense ratio of 0.48%.
Return for Risk
SWNTX vs. SWCAX — Risk / Return Rank
SWNTX
SWCAX
SWNTX vs. SWCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Schwab Tax-Free Bond Fund™ (SWNTX) and Schwab California Tax-Free Bond Fund™ (SWCAX). 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 | SWCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.02 | 1.03 | -0.02 |
Sortino ratioReturn per unit of downside risk | 1.38 | 1.39 | -0.01 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.29 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.08 | 1.01 | +0.07 |
Martin ratioReturn relative to average drawdown | 3.58 | 3.34 | +0.24 |
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 | SWCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.02 | 1.03 | -0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.13 | 0.13 | 0.00 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.43 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.15 | 1.17 | -0.02 |
Correlation
The correlation between SWNTX and SWCAX is 0.90, 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. SWCAX - Dividend Comparison
SWNTX's dividend yield for the trailing twelve months is around 3.26%, more than SWCAX's 2.99% 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% |
SWCAX Schwab California Tax-Free Bond Fund™ | 2.99% | 3.46% | 2.67% | 2.23% | 1.57% | 1.68% | 2.45% | 2.54% | 2.50% | 2.22% | 3.10% | 2.79% |
Drawdowns
SWNTX vs. SWCAX - Drawdown Comparison
The maximum SWNTX drawdown since its inception was -13.26%, roughly equal to the maximum SWCAX drawdown of -13.51%. Use the drawdown chart below to compare losses from any high point for SWNTX and SWCAX.
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Drawdown Indicators
| SWNTX | SWCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.26% | -13.51% | +0.25% |
Max Drawdown (1Y)Largest decline over 1 year | -4.40% | -3.99% | -0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -13.26% | -12.30% | -0.96% |
Max Drawdown (10Y)Largest decline over 10 years | -13.26% | -12.30% | -0.96% |
Current DrawdownCurrent decline from peak | -2.70% | -2.66% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -1.89% | -1.88% | -0.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.33% | 1.21% | +0.12% |
Volatility
SWNTX vs. SWCAX - Volatility Comparison
Schwab Tax-Free Bond Fund™ (SWNTX) and Schwab California Tax-Free Bond Fund™ (SWCAX) have volatilities of 0.94% and 0.90%, 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.
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Volatility by Period
| SWNTX | SWCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 0.90% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 1.57% | 1.50% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.43% | 4.03% | +0.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.45% | 3.07% | +0.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.56% | 3.35% | +0.21% |