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SWSSX vs. SWLGX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SWSSX vs. SWLGX

Last updated Aug 5, 2026
Documentation

SWSSX (Schwab Small-Cap Index Fund-Select Shares) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both mutual funds - SWSSX is a Small Cap Blend Equities fund tracking the Russell 2000 Index, while SWLGX is a Large Cap Growth Equities fund tracking the Russell 1000 Growth Index. Both are passively managed. Over the past 5 years, SWSSX returned 7.82%/yr vs 12.18%/yr for SWLGX. Their 0.72 correlation means they have sometimes moved together and sometimes differently. SWSSX charges 0.04%/yr vs 0.04%/yr for SWLGX.

Performance

SWSSX vs. SWLGX - 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 U.S. Large-Cap Growth Index Fund (SWLGX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SWSSX achieves a 20.94% return, which is significantly higher than SWLGX's 2.45% return.

SWSSX

1D
1.73%
1M
-0.41%
6M
13.29%
YTD
20.94%
1Y
36.49%
3Y*
16.70%
5Y*
7.82%
10Y*
10.76%
ALL TIME*
8.61%

SWLGX

1D
2.16%
1M
-0.33%
6M
5.58%
YTD
2.45%
1Y
10.34%
3Y*
21.31%
5Y*
12.18%
10Y*
—
ALL TIME*
16.93%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

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

SWLGX

Schwab U.S. Large-Cap Growth Index Fund
$0.00$0.00$0.00

SWSSX

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

SWSSX vs. SWLGX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SWSSX
Schwab Small-Cap Index Fund-Select Shares		20.94%12.88%11.57%17.07%-20.43%14.77%20.12%25.63%-11.19%-0.81%
SWLGX
Schwab U.S. Large-Cap Growth Index Fund		2.45%18.55%33.30%42.67%-29.17%27.55%38.43%36.30%-1.59%-0.60%

Correlation

The correlation between SWSSX and SWLGX is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

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

0.65

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

0.64

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

0.73

Correlation (All Time)
Calculated using the full available price history since Dec 19, 2017

0.72

The correlation between SWSSX and SWLGX has been stable across timeframes, ranging from 0.64 to 0.73 - a consistent structural relationship.

SWSSX vs. SWLGX - Sectors Allocation Comparison

Sectors
SWSSX
SWLGX

Healthcare

20.2%
5.4%

Financial Services

17.6%
4.3%

Technology

14.8%
54.2%

Industrials

14.1%
9.0%

Consumer Cyclical

9.2%
8.3%

Real Estate

6.7%
0.4%

Energy

5.4%
0.5%

Basic Materials

4.4%
0.3%

Utilities

2.7%
0.3%

Consumer Defensive

2.6%
1.2%

Communication Services

2.2%
16.2%

Healthcare

SWSSX
20.2%
SWLGX
5.4%

Financial Services

SWSSX
17.6%
SWLGX
4.3%

Technology

SWSSX
14.8%
SWLGX
54.2%

Industrials

SWSSX
14.1%
SWLGX
9.0%

Consumer Cyclical

SWSSX
9.2%
SWLGX
8.3%

Real Estate

SWSSX
6.7%
SWLGX
0.4%

Energy

SWSSX
5.4%
SWLGX
0.5%

Basic Materials

SWSSX
4.4%
SWLGX
0.3%

Utilities

SWSSX
2.7%
SWLGX
0.3%

Consumer Defensive

SWSSX
2.6%
SWLGX
1.2%

Communication Services

SWSSX
2.2%
SWLGX
16.2%

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 U.S. Large-Cap Growth Index Fund

Often compared with SWSSX:
SWSSX vs. SCHASWSSX vs. SWPPXSWSSX vs. SFSNXSWSSX vs. SWSCXSWSSX vs. VSMAXSWSSX vs. VSIAXSWSSX vs. VBR
Often compared with SWLGX:
SWLGX vs. SWPPXSWLGX vs. FSPGXSWLGX vs. SWLSXSWLGX vs. SWTSXSWLGX vs. QQQSWLGX vs. VUGSWLGX vs. QQQM

Return for Risk

SWSSX vs. SWLGX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SWSSX
SWSSX Risk / Return Rank: 8484
Overall Rank
SWSSX Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
SWSSX Sortino Ratio Rank: 8181
Sortino Ratio Rank
SWSSX Omega Ratio Rank: 7373
Omega Ratio Rank
SWSSX Calmar Ratio Rank: 9090
Calmar Ratio Rank
SWSSX Martin Ratio Rank: 9090
Martin Ratio Rank
SWLGX
SWLGX Risk / Return Rank: 1717
Overall Rank
SWLGX Sharpe Ratio Rank: 1818
Sharpe Ratio Rank
SWLGX Sortino Ratio Rank: 1818
Sortino Ratio Rank
SWLGX Omega Ratio Rank: 1717
Omega Ratio Rank
SWLGX Calmar Ratio Rank: 1515
Calmar Ratio Rank
SWLGX Martin Ratio Rank: 1616
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. SWLGX - 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 U.S. Large-Cap Growth Index Fund (SWLGX). 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.

SWSSXSWLGXDifference
Sharpe ratioReturn per unit of total volatility
2.05
0.72

+1.33

Sortino ratioReturn per unit of downside risk
2.87
1.09

+1.77

Omega ratioGain probability vs. loss probability

1.34

1.13

+0.21

Calmar ratioReturn relative to maximum drawdown

3.60

0.78

+2.82

Martin ratioReturn relative to average drawdown

12.75

2.32

+10.43

SWSSX vs. SWLGX - Sharpe Ratio Comparison

The current SWSSX Sharpe Ratio is 2.05, which is higher than the SWLGX Sharpe Ratio of 0.72. The chart below compares the historical Sharpe Ratios of SWSSX and SWLGX, 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. SWLGX - Drawdown Comparison

The maximum SWSSX drawdown since its inception was -60.34%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for SWSSX and SWLGX.

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Drawdown Indicators

SWSSXSWLGXDifference

Max Drawdown

Largest peak-to-trough decline

-60.34%

-32.69%

-27.65%

Max Drawdown (1Y)

Largest decline over 1 year

-11.00%

-16.16%

+5.16%

Max Drawdown (3Y)

Largest decline over 3 years

-27.50%

-23.30%

-4.20%

Max Drawdown (5Y)

Largest decline over 5 years

-31.93%

-32.69%

+0.76%

Max Drawdown (10Y)

Largest decline over 10 years

-41.81%

—

—

Current Drawdown

Current decline from peak

-1.33%

-6.02%

+4.69%

Average Drawdown

Average peak-to-trough decline

-10.67%

-7.03%

-3.64%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.10%

5.40%

-2.30%

Volatility

SWSSX vs. SWLGX - Volatility Comparison

The current volatility for Schwab Small-Cap Index Fund-Select Shares (SWSSX) is 4.22%, while Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a volatility of 6.70%. This indicates that SWSSX experiences smaller price fluctuations and is considered to be less risky than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SWSSXSWLGXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.22%

6.70%

-2.48%

Volatility (6M)

Calculated over the trailing 6-month period

14.15%

14.17%

-0.02%

Volatility (1Y)

Calculated over the trailing 1-year period

19.38%

17.56%

+1.82%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

22.57%

21.83%

+0.74%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.08%

22.69%

+1.39%

SWSSX vs. SWLGX - Expense Ratio Comparison

SWSSX has a 0.04% expense ratio, which is higher than SWLGX's 0.04% expense ratio. However, 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. SWLGX - Dividend Comparison

SWSSX's dividend yield for the trailing twelve months is around 1.06%, more than SWLGX's 0.45% yield.

PositionTTM20252024202320222021202020192018201720162015
SWLGX
Schwab U.S. Large-Cap Growth Index Fund		0.45%0.46%0.52%0.67%0.93%1.76%0.67%0.96%1.03%0.00%0.00%0.00%
SWSSX
Schwab Small-Cap Index Fund-Select Shares		1.06%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

SWSSX and SWLGX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SWLGX has higher volatility (6.70%) compared to SWSSX (4.22%). In terms of maximum drawdown, SWSSX dropped -60.34% vs SWLGX's -32.69%.

SWSSX currently has the higher Sharpe Ratio (2.05 vs 0.72), 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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