SWSSX vs. OTCFX

Last updated Jun 4, 2026

SWSSX (Schwab Small-Cap Index Fund-Select Shares) and OTCFX (T. Rowe Price Small-Cap Stock Fund) are both mutual funds - SWSSX is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while OTCFX is a Small Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, SWSSX returned 11.20%/yr vs 11.45%/yr for OTCFX. With a 0.97 correlation, they move nearly in lockstep. SWSSX charges 0.04%/yr vs 0.85%/yr for OTCFX.

Performance

SWSSX vs. OTCFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Small-Cap Index Fund-Select Shares (SWSSX) and T. Rowe Price Small-Cap Stock Fund (OTCFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SWSSX achieves a 18.71% return, which is significantly higher than OTCFX's 10.41% return. Both investments have delivered pretty close results over the past 10 years, with SWSSX having a 11.20% annualized return and OTCFX not far ahead at 11.45%.

SWSSX

• 1D: 0.92%
• 1M: 5.00%
• YTD: 18.71%
• 6M: 17.43%
• 1Y: 41.24%
• 3Y*: 18.69%
• 5Y*: 6.65%
• 10Y*: 11.20%

OTCFX

• 1D: 0.11%
• 1M: 0.95%
• YTD: 10.41%
• 6M: 9.68%
• 1Y: 22.00%
• 3Y*: 14.44%
• 5Y*: 4.91%
• 10Y*: 11.45%

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

SWSSX vs. OTCFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWSSX Schwab Small-Cap Index Fund-Select Shares	18.71%	12.88%	11.57%	17.07%	-20.43%	14.77%	20.12%	25.63%	-11.19%	14.76%
OTCFX T. Rowe Price Small-Cap Stock Fund	10.41%	8.37%	11.48%	17.56%	-23.47%	17.07%	25.05%	33.61%	-3.39%	15.13%

Correlation

The correlation between SWSSX and OTCFX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 5, 1998	0.97

The correlation between SWSSX and OTCFX has been stable across timeframes, ranging from 0.90 to 0.97 - a consistent structural relationship.

Return for Risk

SWSSX vs. OTCFX — Risk / Return Rank

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

SWSSX

SWSSX Risk / Return Rank: 64
SWSSX Sharpe Ratio Rank: 60
SWSSX Sortino Ratio Rank: 55
SWSSX Omega Ratio Rank: 47
SWSSX Calmar Ratio Rank: 84
SWSSX Martin Ratio Rank: 74

OTCFX

OTCFX Risk / Return Rank: 29
OTCFX Sharpe Ratio Rank: 22
OTCFX Sortino Ratio Rank: 24
OTCFX Omega Ratio Rank: 21
OTCFX Calmar Ratio Rank: 35
OTCFX Martin Ratio Rank: 40

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.

SWSSX vs. OTCFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Small-Cap Index Fund-Select Shares (SWSSX) and T. Rowe Price Small-Cap Stock Fund (OTCFX). 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.

	SWSSX	OTCFX	Difference
Sharpe ratio: Return per unit of total volatility	2.28	1.35	+0.93
Sortino ratio: Return per unit of downside risk	3.13	2.04	+1.09
Omega ratio: Gain probability vs. loss probability	1.37	1.24	+0.13
Calmar ratio: Return relative to maximum drawdown	3.97	2.24	+1.73
Martin ratio: Return relative to average drawdown	14.11	8.57	+5.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SWSSX vs. OTCFX - Sharpe Ratio Comparison

The current SWSSX Sharpe Ratio is 2.28, which is higher than the OTCFX Sharpe Ratio of 1.35. The chart below compares the historical Sharpe Ratios of SWSSX and OTCFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SWSSX	OTCFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	1.35	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.25	+0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.56	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.57	-0.21

Drawdowns

SWSSX vs. OTCFX - Drawdown Comparison

The maximum SWSSX drawdown since its inception was -60.34%, which is greater than OTCFX's maximum drawdown of -56.37%. Use the drawdown chart below to compare losses from any high point for SWSSX and OTCFX.

Drawdown Indicators

	SWSSX	OTCFX	Difference
Max Drawdown Largest peak-to-trough decline	-60.34%	-56.37%	-3.97%
Max Drawdown (1Y) Largest decline over 1 year	-11.00%	-10.75%	-0.25%
Max Drawdown (3Y) Largest decline over 3 years	-27.50%	-23.51%	-3.99%
Max Drawdown (5Y) Largest decline over 5 years	-31.93%	-32.44%	+0.51%
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	-37.71%	-4.10%
Current Drawdown Current decline from peak	-0.13%	-2.06%	+1.93%
Average Drawdown Average peak-to-trough decline	-10.73%	-8.23%	-2.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	2.78%	+0.31%

Volatility

SWSSX vs. OTCFX - Volatility Comparison

Schwab Small-Cap Index Fund-Select Shares (SWSSX) has a higher volatility of 5.61% compared to T. Rowe Price Small-Cap Stock Fund (OTCFX) at 5.03%. This indicates that SWSSX's price experiences larger fluctuations and is considered to be riskier than OTCFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWSSX	OTCFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.61%	5.03%	+0.58%
Volatility (6M) Calculated over the trailing 6-month period	13.60%	14.26%	-0.66%
Volatility (1Y) Calculated over the trailing 1-year period	19.15%	17.85%	+1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.59%	20.02%	+2.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.09%	20.41%	+3.68%

SWSSX vs. OTCFX - Expense Ratio Comparison

SWSSX has a 0.04% expense ratio, which is lower than OTCFX's 0.85% expense ratio.

Dividends

SWSSX vs. OTCFX - Dividend Comparison

SWSSX's dividend yield for the trailing twelve months is around 1.08%, less than OTCFX's 6.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
OTCFX T. Rowe Price Small-Cap Stock Fund	6.45%	7.13%	16.00%	3.80%	4.12%	7.08%	2.28%	5.35%	12.43%	8.39%	1.89%	10.93%
SWSSX Schwab Small-Cap Index Fund-Select Shares	1.08%	1.29%	1.66%	1.49%	1.32%	8.88%	2.55%	6.12%	10.45%	5.22%	4.10%	6.92%

Frequently Asked Questions

Can I hold both SWSSX and OTCFX in my portfolio?

With a correlation of 0.90, SWSSX and OTCFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SWSSX or OTCFX?

SWSSX has higher volatility (5.61%) compared to OTCFX (5.03%). In terms of maximum drawdown, SWSSX dropped -60.34% vs OTCFX's -56.37%.

Which has better risk-adjusted returns?

SWSSX currently has the higher Sharpe Ratio (2.28 vs 1.35), 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.