TIVFX vs. SWISX

Last updated Jun 24, 2026

TIVFX (American Beacon Tocqueville International Value Fund) and SWISX (Schwab International Index Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, TIVFX returned 10.58%/yr vs 10.17%/yr for SWISX. Their correlation of 0.80 suggests significant overlap in exposure. TIVFX charges 1.20%/yr vs 0.06%/yr for SWISX.

Performance

TIVFX vs. SWISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Tocqueville International Value Fund (TIVFX) and Schwab International Index Fund (SWISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIVFX achieves a 40.47% return, which is significantly higher than SWISX's 10.79% return. Both investments have delivered pretty close results over the past 10 years, with TIVFX having a 10.58% annualized return and SWISX not far behind at 10.17%.

TIVFX

• 1D: 1.39%
• 1M: 5.10%
• YTD: 40.47%
• 6M: 40.47%
• 1Y: 68.02%
• 3Y*: 27.36%
• 5Y*: 12.27%
• 10Y*: 10.58%

SWISX

• 1D: 0.19%
• 1M: 2.18%
• YTD: 10.79%
• 6M: 10.26%
• 1Y: 24.58%
• 3Y*: 17.53%
• 5Y*: 9.24%
• 10Y*: 10.17%

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

TIVFX vs. SWISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIVFX American Beacon Tocqueville International Value Fund	40.47%	36.15%	3.73%	15.43%	-20.57%	7.53%	12.61%	19.38%	-19.87%	24.18%
SWISX Schwab International Index Fund	10.79%	31.59%	3.54%	18.13%	-14.30%	11.25%	8.14%	21.87%	-13.38%	25.32%

Correlation

The correlation between TIVFX and SWISX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 2, 1998	0.80

The correlation between TIVFX and SWISX shifts across timeframes, from 0.65 (1 year) to 0.86 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

TIVFX vs. SWISX — Risk / Return Rank

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

TIVFX

TIVFX Risk / Return Rank: 94
TIVFX Sharpe Ratio Rank: 98
TIVFX Sortino Ratio Rank: 91
TIVFX Omega Ratio Rank: 89
TIVFX Calmar Ratio Rank: 96
TIVFX Martin Ratio Rank: 96

SWISX

SWISX Risk / Return Rank: 38
SWISX Sharpe Ratio Rank: 38
SWISX Sortino Ratio Rank: 36
SWISX Omega Ratio Rank: 36
SWISX Calmar Ratio Rank: 39
SWISX Martin Ratio Rank: 42

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.

TIVFX vs. SWISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Tocqueville International Value Fund (TIVFX) and Schwab International Index Fund (SWISX). 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.

	TIVFX	SWISX	Difference
Sharpe ratio: Return per unit of total volatility	3.49	1.64	+1.84
Sortino ratio: Return per unit of downside risk	4.19	2.33	+1.86
Omega ratio: Gain probability vs. loss probability	1.59	1.30	+0.30
Calmar ratio: Return relative to maximum drawdown	5.94	2.25	+3.69
Martin ratio: Return relative to average drawdown	21.00	8.43	+12.57

TIVFX vs. SWISX - Sharpe Ratio Comparison

The current TIVFX Sharpe Ratio is 3.49, which is higher than the SWISX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of TIVFX and SWISX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TIVFX vs. SWISX - Drawdown Comparison

The maximum TIVFX drawdown since its inception was -54.21%, smaller than the maximum SWISX drawdown of -60.65%. Use the drawdown chart below to compare losses from any high point for TIVFX and SWISX.

Drawdown Indicators

	TIVFX	SWISX	Difference
Max Drawdown Largest peak-to-trough decline	-54.21%	-60.65%	+6.44%
Max Drawdown (1Y) Largest decline over 1 year	-11.69%	-11.39%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-23.99%	-13.68%	-10.31%
Max Drawdown (5Y) Largest decline over 5 years	-36.31%	-29.42%	-6.89%
Max Drawdown (10Y) Largest decline over 10 years	-41.51%	-33.83%	-7.68%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-13.36%	-14.78%	+1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.30%	3.04%	+0.26%

Volatility

TIVFX vs. SWISX - Volatility Comparison

American Beacon Tocqueville International Value Fund (TIVFX) has a higher volatility of 9.19% compared to Schwab International Index Fund (SWISX) at 4.84%. This indicates that TIVFX's price experiences larger fluctuations and is considered to be riskier than SWISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIVFX	SWISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.19%	4.84%	+4.35%
Volatility (6M) Calculated over the trailing 6-month period	16.69%	12.98%	+3.71%
Volatility (1Y) Calculated over the trailing 1-year period	19.94%	15.63%	+4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	16.37%	+2.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.75%	16.86%	+0.89%

TIVFX vs. SWISX - Expense Ratio Comparison

TIVFX has a 1.20% expense ratio, which is higher than SWISX's 0.06% expense ratio.

Dividends

TIVFX vs. SWISX - Dividend Comparison

TIVFX's dividend yield for the trailing twelve months is around 6.28%, more than SWISX's 3.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWISX Schwab International Index Fund	3.20%	3.55%	3.29%	3.31%	2.73%	3.34%	1.88%	3.09%	3.15%	2.71%	3.19%	2.71%
TIVFX American Beacon Tocqueville International Value Fund	6.28%	8.82%	10.23%	1.66%	1.39%	3.65%	0.34%	1.69%	1.37%	1.28%	1.57%	3.01%

Frequently Asked Questions

Can I hold both TIVFX and SWISX in my portfolio?

TIVFX and SWISX 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.

Which is riskier, TIVFX or SWISX?

TIVFX has higher volatility (9.19%) compared to SWISX (4.84%). In terms of maximum drawdown, TIVFX dropped -54.21% vs SWISX's -60.65%.

Which has better risk-adjusted returns?

TIVFX currently has the higher Sharpe Ratio (3.49 vs 1.64), 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.