SWSS vs. VSMAX

Last updated Jun 6, 2026

SWSS (Springwater Special Situations Corp.) is a stock, while VSMAX (Vanguard Small-Cap Index Fund Admiral Shares) is Small Cap Blend Equities fund tracking the CRSP US Small Cap Index. Over the past 3 years, SWSS returned 1.25%/yr vs 17.69%/yr for VSMAX. At a 0.01 correlation, their price movements are largely independent.

Performance

SWSS vs. VSMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Springwater Special Situations Corp. (SWSS) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SWSS

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.00%
• 6M: 0.00%
• 1Y: 0.00%
• 3Y*: 1.25%
• 5Y*: —
• 10Y*: —

VSMAX

• 1D: 0.71%
• 1M: 1.60%
• YTD: 14.97%
• 6M: 14.31%
• 1Y: 30.01%
• 3Y*: 17.69%
• 5Y*: 7.26%
• 10Y*: 11.26%

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

SWSS vs. VSMAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWSS Springwater Special Situations Corp.	0.00%	2.93%	-1.47%	4.15%	3.74%	0.36%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	14.97%	8.83%	14.23%	18.17%	-17.61%	1.03%

Correlation

The correlation between SWSS and VSMAX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Sep 24, 2021	0.01

Return for Risk

SWSS vs. VSMAX — Risk / Return Rank

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

VSMAX

VSMAX Risk / Return Rank: 54
VSMAX Sharpe Ratio Rank: 44
VSMAX Sortino Ratio Rank: 42
VSMAX Omega Ratio Rank: 39
VSMAX Calmar Ratio Rank: 77
VSMAX Martin Ratio Rank: 66

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.

SWSS vs. VSMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Springwater Special Situations Corp. (SWSS) and Vanguard Small-Cap Index Fund Admiral Shares (VSMAX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	SWSS	VSMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.84	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.52	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.39	-0.18

Drawdowns

SWSS vs. VSMAX - Drawdown Comparison

The maximum SWSS drawdown since its inception was -15.18%, smaller than the maximum VSMAX drawdown of -59.68%. Use the drawdown chart below to compare losses from any high point for SWSS and VSMAX.

Drawdown Indicators

	SWSS	VSMAX	Difference
Max Drawdown Largest peak-to-trough decline	-15.18%	-59.68%	+44.50%
Max Drawdown (1Y) Largest decline over 1 year	0.00%	-8.97%	+8.97%
Max Drawdown (3Y) Largest decline over 3 years	-15.18%	-25.25%	+10.07%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.14%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.82%	—
Current Drawdown Current decline from peak	-9.25%	0.00%	-9.25%
Average Drawdown Average peak-to-trough decline	-5.10%	-9.69%	+4.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.00%	2.43%	-2.43%

Volatility

SWSS vs. VSMAX - Volatility Comparison

The current volatility for Springwater Special Situations Corp. (SWSS) is 0.00%, while Vanguard Small-Cap Index Fund Admiral Shares (VSMAX) has a volatility of 4.35%. This indicates that SWSS experiences smaller price fluctuations and is considered to be less risky than VSMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWSS	VSMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	4.35%	-4.35%
Volatility (6M) Calculated over the trailing 6-month period	0.00%	11.73%	-11.73%
Volatility (1Y) Calculated over the trailing 1-year period	0.00%	16.26%	-16.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.53%	20.71%	-11.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.53%	21.56%	-12.03%

Dividends

SWSS vs. VSMAX - Dividend Comparison

SWSS has not paid dividends to shareholders, while VSMAX's dividend yield for the trailing twelve months is around 1.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWSS Springwater Special Situations Corp.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VSMAX Vanguard Small-Cap Index Fund Admiral Shares	1.18%	1.33%	1.30%	1.56%	1.54%	1.24%	1.14%	1.39%	1.67%	1.35%	1.49%	1.48%

Frequently Asked Questions

Can I hold both SWSS and VSMAX in my portfolio?

SWSS and VSMAX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SWSS or VSMAX?

VSMAX has higher volatility (4.35%) compared to SWSS (0.00%). In terms of maximum drawdown, SWSS dropped -15.18% vs VSMAX's -59.68%.