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SWSSX vs. SFSNX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWSSX vs. SFSNX

Last updated Aug 2, 2026
Documentation

SWSSX (Schwab Small-Cap Index Fund-Select Shares) and SFSNX (Schwab Fundamental U.S. Small Company Index Fund) are both Small Cap Blend Equities funds from Charles Schwab - SWSSX tracks the Russell 2000 Index while SFSNX tracks the RAFI Fundamental High Liquidity US Small Index. Both are passively managed. Over the past 10 years, SWSSX returned 10.73%/yr vs 10.75%/yr for SFSNX. Their 0.97 correlation means they have historically moved very closely together. SWSSX charges 0.04%/yr vs 0.25%/yr for SFSNX.

Performance

SWSSX vs. SFSNX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Schwab Small-Cap Index Fund-Select Shares (SWSSX) and Schwab Fundamental U.S. Small Company Index Fund (SFSNX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with SWSSX having a 19.46% return and SFSNX slightly lower at 18.51%. Both investments have delivered pretty close results over the past 10 years, with SWSSX having a 10.73% annualized return and SFSNX not far ahead at 10.75%.

SWSSX

1D
1.36%
1M
-1.63%
6M
13.40%
YTD
19.46%
1Y
37.67%
3Y*
15.35%
5Y*
7.26%
10Y*
10.73%
ALL TIME*
8.56%

SFSNX

1D
0.31%
1M
-1.15%
6M
12.15%
YTD
18.51%
1Y
30.99%
3Y*
13.15%
5Y*
8.54%
10Y*
10.75%
ALL TIME*
10.05%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

SFSNX

Schwab Fundamental U.S. Small Company Index Fund
$0.00$0.00$0.00

SWSSX

Schwab Small-Cap Index Fund-Select Shares
$0.00$0.00$0.00

SWSSX vs. SFSNX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SWSSX
Schwab Small-Cap Index Fund-Select Shares		19.46%12.88%11.57%17.07%-20.43%14.77%20.12%25.63%-11.19%14.76%
SFSNX
Schwab Fundamental U.S. Small Company Index Fund		18.51%7.66%8.99%20.15%-14.79%30.91%8.49%24.44%-12.26%12.84%

Correlation

The correlation between SWSSX and SFSNX is 0.91, meaning they have usually moved in the same direction, including during past declines.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.91

Correlation (3Y)
Balances recent behavior with more history.

0.96

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.96

Correlation (10Y)
Provides a long-term view across more market conditions.

0.96

Correlation (All Time)
Calculated using the full available price history since Jan 2, 2008

0.97

The correlation between SWSSX and SFSNX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.

SWSSX vs. SFSNX - Sectors Allocation Comparison

Sectors
SWSSX
SFSNX

Healthcare

20.2%
7.6%

Financial Services

17.6%
15.0%

Technology

14.8%
15.6%

Industrials

14.1%
19.4%

Consumer Cyclical

9.2%
12.8%

Real Estate

6.7%
10.1%

Energy

5.4%
4.8%

Basic Materials

4.4%
4.6%

Utilities

2.7%
2.6%

Consumer Defensive

2.6%
3.8%

Communication Services

2.2%
3.8%

Healthcare

SWSSX
20.2%
SFSNX
7.6%

Financial Services

SWSSX
17.6%
SFSNX
15.0%

Technology

SWSSX
14.8%
SFSNX
15.6%

Industrials

SWSSX
14.1%
SFSNX
19.4%

Consumer Cyclical

SWSSX
9.2%
SFSNX
12.8%

Real Estate

SWSSX
6.7%
SFSNX
10.1%

Energy

SWSSX
5.4%
SFSNX
4.8%

Basic Materials

SWSSX
4.4%
SFSNX
4.6%

Utilities

SWSSX
2.7%
SFSNX
2.6%

Consumer Defensive

SWSSX
2.6%
SFSNX
3.8%

Communication Services

SWSSX
2.2%
SFSNX
3.8%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Schwab Small-Cap Index Fund-Select Shares

Schwab Fundamental U.S. Small Company Index Fund

Often compared with SWSSX:
SWSSX vs. SCHASWSSX vs. SWPPXSWSSX vs. SWSCXSWSSX vs. VSMAXSWSSX vs. VSIAXSWSSX vs. VBRSWSSX vs. PRSVX
Often compared with SFSNX:
SFSNX vs. AVUVSFSNX vs. VBRSFSNX vs. NEAGXSFSNX vs. TSCGXSFSNX vs. FSLCXSFSNX vs. ISCGSFSNX vs. SFLNX

Return for Risk

SWSSX vs. SFSNX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SWSSX
SWSSX Risk / Return Rank: 7979
Overall Rank
SWSSX Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SWSSX Sortino Ratio Rank: 7575
Sortino Ratio Rank
SWSSX Omega Ratio Rank: 6969
Omega Ratio Rank
SWSSX Calmar Ratio Rank: 8888
Calmar Ratio Rank
SWSSX Martin Ratio Rank: 8787
Martin Ratio Rank
SFSNX
SFSNX Risk / Return Rank: 7575
Overall Rank
SFSNX Sharpe Ratio Rank: 7070
Sharpe Ratio Rank
SFSNX Sortino Ratio Rank: 7272
Sortino Ratio Rank
SFSNX Omega Ratio Rank: 6565
Omega Ratio Rank
SFSNX Calmar Ratio Rank: 8686
Calmar Ratio Rank
SFSNX Martin Ratio Rank: 8080
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SWSSX vs. SFSNX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Schwab Small-Cap Index Fund-Select Shares (SWSSX) and Schwab Fundamental U.S. Small Company Index Fund (SFSNX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

SWSSXSFSNXDifference
Sharpe ratioReturn per unit of total volatility
1.74
1.61

+0.13

Sortino ratioReturn per unit of downside risk
2.48
2.38

+0.11

Omega ratioGain probability vs. loss probability

1.29

1.28

+0.01

Calmar ratioReturn relative to maximum drawdown

3.07

2.91

+0.16

Martin ratioReturn relative to average drawdown

10.90

9.61

+1.29

SWSSX vs. SFSNX - Sharpe Ratio Comparison

The current SWSSX Sharpe Ratio is 1.74, which is comparable to the SFSNX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SWSSX and SFSNX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

SWSSX vs. SFSNX - Drawdown Comparison

The maximum SWSSX drawdown since its inception was -60.34%, roughly equal to the maximum SFSNX drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for SWSSX and SFSNX.

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Drawdown Indicators

SWSSXSFSNXDifference

Max Drawdown

Largest peak-to-trough decline

-60.34%

-58.32%

-2.02%

Max Drawdown (1Y)

Largest decline over 1 year

-11.00%

-9.43%

-1.57%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

-25.91%

-1.59%

Max Drawdown (5Y)

Largest decline over 5 years

-31.93%

-25.91%

-6.02%

Max Drawdown (10Y)

Largest decline over 10 years

-41.81%

-44.82%

+3.01%

Current Drawdown

Current decline from peak

-2.54%

-2.23%

-0.31%

Average Drawdown

Average peak-to-trough decline

-10.67%

-8.25%

-2.42%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

2.86%

+0.24%

Volatility

SWSSX vs. SFSNX - Volatility Comparison

Schwab Small-Cap Index Fund-Select Shares (SWSSX) has a higher volatility of 3.83% compared to Schwab Fundamental U.S. Small Company Index Fund (SFSNX) at 3.36%. This indicates that SWSSX's price experiences larger fluctuations and is considered to be riskier than SFSNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWSSXSFSNXDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.83%

3.36%

+0.47%

Volatility (6M)

Calculated over the trailing 6-month period

14.14%

11.88%

+2.26%

Volatility (1Y)

Calculated over the trailing 1-year period

19.42%

17.09%

+2.33%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.56%

20.65%

+1.91%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.07%

23.22%

+0.85%

SWSSX vs. SFSNX - Expense Ratio Comparison

SWSSX has a 0.04% expense ratio, which is lower than SFSNX's 0.25% 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%.

Dividends

SWSSX vs. SFSNX - Dividend Comparison

SWSSX's dividend yield for the trailing twelve months is around 1.08%, less than SFSNX's 1.15% yield.

PositionTTM20252024202320222021202020192018201720162015
SFSNX
Schwab Fundamental U.S. Small Company Index Fund		1.15%1.36%1.71%1.37%7.05%12.27%1.42%3.66%11.55%6.88%1.86%6.37%
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

With a correlation of 0.91, SWSSX and SFSNX 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.

SWSSX has higher volatility (3.83%) compared to SFSNX (3.36%). In terms of maximum drawdown, SWSSX dropped -60.34% vs SFSNX's -58.32%.

SWSSX currently has the higher Sharpe Ratio (1.74 vs 1.61), 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.

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