SWSBX vs. DFCFX

Last updated Apr 2, 2026

Compare and contrast key facts about Schwab Short-Term Bond Index Fund (SWSBX) and DFA Two-Year Fixed Income Portfolio (DFCFX).

SWSBX is a passively managed fund by Charles Schwab that tracks the performance of the Bloomberg US Government/Credit 1-5 Year Index. It was launched on Feb 23, 2017. DFCFX is managed by Dimensional. It was launched on Jun 6, 1996.

Performance

SWSBX vs. DFCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Short-Term Bond Index Fund (SWSBX) and DFA Two-Year Fixed Income Portfolio (DFCFX). The values are adjusted to include any dividend payments, if applicable.

SWSBX vs. DFCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWSBX Schwab Short-Term Bond Index Fund	-0.16%	6.06%	3.42%	3.95%	-5.89%	-1.28%	4.47%	4.96%	1.34%	0.85%
DFCFX DFA Two-Year Fixed Income Portfolio	0.89%	2.28%	5.33%	4.92%	-3.28%	8.60%	0.57%	2.65%	1.78%	0.61%

Returns By Period

In the year-to-date period, SWSBX achieves a -0.16% return, which is significantly lower than DFCFX's 0.89% return.

SWSBX

• 1D: 0.10%
• 1M: -0.93%
• YTD: -0.16%
• 6M: 0.78%
• 1Y: 3.74%
• 3Y*: 3.77%
• 5Y*: 1.27%
• 10Y*: —

DFCFX

• 1D: 0.00%
• 1M: 0.26%
• YTD: 0.89%
• 6M: 1.87%
• 1Y: 2.98%
• 3Y*: 4.06%
• 5Y*: 3.68%
• 10Y*: 2.44%

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

SWSBX vs. DFCFX - Expense Ratio Comparison

SWSBX has a 0.06% expense ratio, which is lower than DFCFX's 0.21% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

DFCFX

DFA Two-Year Fixed Income Portfolio

SWSBX

Schwab Short-Term Bond Index Fund

Return for Risk

SWSBX vs. DFCFX — Risk / Return Rank

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

SWSBX

SWSBX Risk / Return Rank: 87
SWSBX Sharpe Ratio Rank: 83
SWSBX Sortino Ratio Rank: 90
SWSBX Omega Ratio Rank: 82
SWSBX Calmar Ratio Rank: 91
SWSBX Martin Ratio Rank: 89

DFCFX

DFCFX Risk / Return Rank: 84
DFCFX Sharpe Ratio Rank: 97
DFCFX Sortino Ratio Rank: 94
DFCFX Omega Ratio Rank: 100
DFCFX Calmar Ratio Rank: 80
DFCFX Martin Ratio Rank: 52

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.

SWSBX vs. DFCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Short-Term Bond Index Fund (SWSBX) and DFA Two-Year Fixed Income Portfolio (DFCFX). 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.

	SWSBX	DFCFX	Difference
Sharpe ratio Return per unit of total volatility	1.59	2.59	-1.00
Sortino ratio Return per unit of downside risk	2.60	2.98	-0.38
Omega ratio Gain probability vs. loss probability	1.33	3.80	-2.47
Calmar ratio Return relative to maximum drawdown	2.71	2.07	+0.64
Martin ratio Return relative to average drawdown	9.85	5.56	+4.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWSBX vs. DFCFX - Sharpe Ratio Comparison

The current SWSBX Sharpe Ratio is 1.59, which is lower than the DFCFX Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of SWSBX and DFCFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	SWSBX	DFCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	2.59	-1.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.84	-0.41
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.78	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	1.34	-0.58

Correlation

The correlation between SWSBX and DFCFX is 0.35, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

SWSBX vs. DFCFX - Dividend Comparison

SWSBX's dividend yield for the trailing twelve months is around 3.79%, more than DFCFX's 2.94% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWSBX Schwab Short-Term Bond Index Fund	3.79%	4.09%	3.66%	2.36%	1.11%	0.97%	1.82%	2.41%	2.12%	1.56%	0.00%	0.00%
DFCFX DFA Two-Year Fixed Income Portfolio	2.94%	2.16%	4.90%	3.43%	1.32%	8.29%	0.67%	2.22%	1.87%	1.22%	0.79%	0.53%

Drawdowns

SWSBX vs. DFCFX - Drawdown Comparison

The maximum SWSBX drawdown since its inception was -9.06%, which is greater than DFCFX's maximum drawdown of -4.27%. Use the drawdown chart below to compare losses from any high point for SWSBX and DFCFX.

Drawdown Indicators

	SWSBX	DFCFX	Difference
Max Drawdown Largest peak-to-trough decline	-9.06%	-4.27%	-4.79%
Max Drawdown (1Y) Largest decline over 1 year	-1.54%	-1.03%	-0.51%
Max Drawdown (5Y) Largest decline over 5 years	-9.06%	-4.27%	-4.79%
Max Drawdown (10Y) Largest decline over 10 years	—	-4.27%	—
Current Drawdown Current decline from peak	-1.13%	0.00%	-1.13%
Average Drawdown Average peak-to-trough decline	-1.81%	-0.26%	-1.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.42%	0.38%	+0.04%

Volatility

SWSBX vs. DFCFX - Volatility Comparison

Schwab Short-Term Bond Index Fund (SWSBX) has a higher volatility of 0.73% compared to DFA Two-Year Fixed Income Portfolio (DFCFX) at 0.15%. This indicates that SWSBX's price experiences larger fluctuations and is considered to be riskier than DFCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWSBX	DFCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.73%	0.15%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	1.49%	0.42%	+1.07%
Volatility (1Y) Calculated over the trailing 1-year period	2.40%	1.21%	+1.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.95%	4.39%	-1.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.47%	3.13%	-0.66%