SWSSX vs. SWVXX

Last updated Apr 1, 2026

Compare and contrast key facts about Schwab Small-Cap Index Fund-Select Shares (SWSSX) and Schwab Value Advantage Money Fund (SWVXX).

SWSSX is a passively managed fund by Charles Schwab that tracks the performance of the Russell 2000 Index. It was launched on May 19, 1997. SWVXX is an actively managed fund by Charles Schwab. It was launched on Aug 27, 1993.

Performance

SWSSX vs. SWVXX - 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 Value Advantage Money Fund (SWVXX). The values are adjusted to include any dividend payments, if applicable.

SWSSX vs. SWVXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SWSSX Schwab Small-Cap Index Fund-Select Shares	-2.49%	12.88%	11.57%	17.07%	-20.43%	2.43%
SWVXX Schwab Value Advantage Money Fund	0.57%	4.15%	5.16%	5.04%	0.00%	0.00%

Returns By Period

In the year-to-date period, SWSSX achieves a -2.49% return, which is significantly lower than SWVXX's 0.57% return.

SWSSX

• 1D: -1.45%
• 1M: -8.18%
• YTD: -2.49%
• 6M: -0.36%
• 1Y: 21.55%
• 3Y*: 11.83%
• 5Y*: 3.10%
• 10Y*: 9.50%

SWVXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.57%
• 6M: 1.55%
• 1Y: 3.68%
• 3Y*: 4.68%
• 5Y*: —
• 10Y*: —

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

SWSSX vs. SWVXX - Expense Ratio Comparison

SWSSX has a 0.04% expense ratio, which is lower than SWVXX's 0.34% expense ratio.

SWVXX

Schwab Value Advantage Money Fund

SWSSX

Schwab Small-Cap Index Fund-Select Shares

Return for Risk

SWSSX vs. SWVXX — Risk / Return Rank

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

SWSSX

SWSSX Risk / Return Rank: 50
SWSSX Sharpe Ratio Rank: 47
SWSSX Sortino Ratio Rank: 52
SWSSX Omega Ratio Rank: 41
SWSSX Calmar Ratio Rank: 58
SWSSX 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.

SWSSX vs. SWVXX - 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 Value Advantage Money Fund (SWVXX). 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	SWVXX	Difference
Sharpe ratio Return per unit of total volatility	0.91	3.69	-2.78
Sortino ratio Return per unit of downside risk	1.40	—	—
Omega ratio Gain probability vs. loss probability	1.18	—	—
Calmar ratio Return relative to maximum drawdown	1.33	—	—
Martin ratio Return relative to average drawdown	5.02	—	—
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. SWVXX - Sharpe Ratio Comparison

The current SWSSX Sharpe Ratio is 0.91, which is lower than the SWVXX Sharpe Ratio of 3.69. The chart below compares the historical Sharpe Ratios of SWSSX and SWVXX, 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

	SWSSX	SWVXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.91	3.69	-2.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.40	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	2.88	-2.55

Correlation

The correlation between SWSSX and SWVXX is 0.00, 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

SWSSX vs. SWVXX - Dividend Comparison

SWSSX's dividend yield for the trailing twelve months is around 1.32%, less than SWVXX's 3.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWSSX Schwab Small-Cap Index Fund-Select Shares	1.32%	1.29%	1.66%	1.49%	1.32%	8.88%	2.55%	6.12%	10.45%	5.22%	4.10%	6.92%
SWVXX Schwab Value Advantage Money Fund	3.61%	4.06%	5.02%	4.91%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SWSSX vs. SWVXX - Drawdown Comparison

The maximum SWSSX drawdown since its inception was -60.34%, which is greater than SWVXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SWSSX and SWVXX.

Drawdown Indicators

	SWSSX	SWVXX	Difference
Max Drawdown Largest peak-to-trough decline	-60.34%	0.00%	-60.34%
Max Drawdown (1Y) Largest decline over 1 year	-13.90%	0.00%	-13.90%
Max Drawdown (5Y) Largest decline over 5 years	-31.93%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-41.81%	—	—
Current Drawdown Current decline from peak	-11.00%	0.00%	-11.00%
Average Drawdown Average peak-to-trough decline	-10.78%	0.00%	-10.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	0.00%	+3.68%

Volatility

SWSSX vs. SWVXX - Volatility Comparison

Schwab Small-Cap Index Fund-Select Shares (SWSSX) has a higher volatility of 6.59% compared to Schwab Value Advantage Money Fund (SWVXX) at 0.00%. This indicates that SWSSX's price experiences larger fluctuations and is considered to be riskier than SWVXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SWSSX	SWVXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.59%	0.00%	+6.59%
Volatility (6M) Calculated over the trailing 6-month period	14.12%	0.75%	+13.37%
Volatility (1Y) Calculated over the trailing 1-year period	23.11%	1.14%	+21.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.57%	1.09%	+21.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.03%	1.09%	+22.94%