TRPIX vs. SWLVX

Last updated Jun 23, 2026

TRPIX (T. Rowe Price Value Fund Class I) and SWLVX (Schwab U.S. Large-Cap Value Index Fund) are both Large Cap Value Equities funds. Over the past 5 years, TRPIX returned 10.61%/yr vs 11.71%/yr for SWLVX. Their correlation of 0.95 suggests significant overlap in exposure. TRPIX charges 0.57%/yr vs 0.04%/yr for SWLVX.

Performance

TRPIX vs. SWLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Value Fund Class I (TRPIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRPIX achieves a 14.05% return, which is significantly lower than SWLVX's 15.99% return.

TRPIX

• 1D: 0.54%
• 1M: 1.27%
• YTD: 14.05%
• 6M: 13.48%
• 1Y: 23.06%
• 3Y*: 17.09%
• 5Y*: 10.61%
• 10Y*: 11.99%

SWLVX

• 1D: 0.75%
• 1M: 2.84%
• YTD: 15.99%
• 6M: 15.35%
• 1Y: 30.01%
• 3Y*: 17.99%
• 5Y*: 11.71%
• 10Y*: —

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

TRPIX vs. SWLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRPIX T. Rowe Price Value Fund Class I	14.05%	12.34%	15.14%	12.33%	-11.25%	29.99%	10.62%	26.38%	-9.31%	-0.72%
SWLVX Schwab U.S. Large-Cap Value Index Fund	15.99%	15.87%	14.36%	11.45%	-7.61%	25.15%	2.64%	26.49%	-8.39%	0.30%

Correlation

The correlation between TRPIX and SWLVX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Dec 19, 2017	0.95

The correlation between TRPIX and SWLVX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

TRPIX vs. SWLVX — Risk / Return Rank

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

TRPIX

TRPIX Risk / Return Rank: 68
TRPIX Sharpe Ratio Rank: 64
TRPIX Sortino Ratio Rank: 66
TRPIX Omega Ratio Rank: 58
TRPIX Calmar Ratio Rank: 79
TRPIX Martin Ratio Rank: 76

SWLVX

SWLVX Risk / Return Rank: 88
SWLVX Sharpe Ratio Rank: 89
SWLVX Sortino Ratio Rank: 86
SWLVX Omega Ratio Rank: 81
SWLVX Calmar Ratio Rank: 91
SWLVX Martin Ratio Rank: 94

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.

TRPIX vs. SWLVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Value Fund Class I (TRPIX) and Schwab U.S. Large-Cap Value Index Fund (SWLVX). 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.

	TRPIX	SWLVX	Difference
Sharpe ratio: Return per unit of total volatility	2.15	2.71	-0.56
Sortino ratio: Return per unit of downside risk	3.09	3.77	-0.68
Omega ratio: Gain probability vs. loss probability	1.38	1.49	-0.11
Calmar ratio: Return relative to maximum drawdown	3.39	4.46	-1.07
Martin ratio: Return relative to average drawdown	13.29	18.60	-5.31

TRPIX vs. SWLVX - Sharpe Ratio Comparison

The current TRPIX Sharpe Ratio is 2.15, which is comparable to the SWLVX Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of TRPIX and SWLVX, 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

TRPIX vs. SWLVX - Drawdown Comparison

The maximum TRPIX drawdown since its inception was -38.64%, roughly equal to the maximum SWLVX drawdown of -38.34%. Use the drawdown chart below to compare losses from any high point for TRPIX and SWLVX.

Drawdown Indicators

	TRPIX	SWLVX	Difference
Max Drawdown Largest peak-to-trough decline	-38.64%	-38.34%	-0.30%
Max Drawdown (1Y) Largest decline over 1 year	-7.04%	-6.82%	-0.22%
Max Drawdown (3Y) Largest decline over 3 years	-12.98%	-15.61%	+2.63%
Max Drawdown (5Y) Largest decline over 5 years	-20.27%	-19.05%	-1.22%
Max Drawdown (10Y) Largest decline over 10 years	-38.64%	—	—
Current Drawdown Current decline from peak	-0.64%	-0.63%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.55%	-4.82%	+0.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.77%	1.63%	+0.14%

Volatility

TRPIX vs. SWLVX - Volatility Comparison

The current volatility for T. Rowe Price Value Fund Class I (TRPIX) is 3.50%, while Schwab U.S. Large-Cap Value Index Fund (SWLVX) has a volatility of 4.03%. This indicates that TRPIX experiences smaller price fluctuations and is considered to be less risky than SWLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRPIX	SWLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	4.03%	-0.53%
Volatility (6M) Calculated over the trailing 6-month period	8.58%	8.69%	-0.11%
Volatility (1Y) Calculated over the trailing 1-year period	11.07%	11.23%	-0.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.27%	14.90%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.38%	18.54%	-1.16%

TRPIX vs. SWLVX - Expense Ratio Comparison

TRPIX has a 0.57% expense ratio, which is higher than SWLVX's 0.04% expense ratio.

Dividends

TRPIX vs. SWLVX - Dividend Comparison

TRPIX's dividend yield for the trailing twelve months is around 4.15%, more than SWLVX's 1.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWLVX Schwab U.S. Large-Cap Value Index Fund	1.74%	2.02%	2.75%	2.56%	2.29%	4.86%	2.00%	4.35%	1.87%	0.00%	0.00%	0.00%
TRPIX T. Rowe Price Value Fund Class I	4.15%	4.73%	8.58%	3.13%	10.36%	11.09%	2.58%	1.85%	11.29%	5.89%	3.24%	8.83%

Frequently Asked Questions

Can I hold both TRPIX and SWLVX in my portfolio?

With a correlation of 0.93, TRPIX and SWLVX 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, TRPIX or SWLVX?

SWLVX has higher volatility (4.03%) compared to TRPIX (3.50%). In terms of maximum drawdown, TRPIX dropped -38.64% vs SWLVX's -38.34%.

Which has better risk-adjusted returns?

SWLVX currently has the higher Sharpe Ratio (2.71 vs 2.15), 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.