TSLTX vs. SWPPX

Last updated Jun 23, 2026

TSLTX (Transamerica Small Cap Value) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - TSLTX is a Small Cap Value Equities fund managed by Transamerica, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 5 years, TSLTX returned 9.86%/yr vs 14.08%/yr for SWPPX. A 0.74 correlation means they provide meaningful diversification when combined. TSLTX charges 0.80%/yr vs 0.02%/yr for SWPPX.

Performance

TSLTX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Small Cap Value (TSLTX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TSLTX achieves a 24.56% return, which is significantly higher than SWPPX's 10.15% return.

TSLTX

• 1D: 1.26%
• 1M: 3.70%
• YTD: 24.56%
• 6M: 22.43%
• 1Y: 46.82%
• 3Y*: 18.19%
• 5Y*: 9.86%
• 10Y*: —

SWPPX

• 1D: 1.10%
• 1M: 0.47%
• YTD: 10.15%
• 6M: 9.65%
• 1Y: 27.14%
• 3Y*: 20.95%
• 5Y*: 14.08%
• 10Y*: 15.55%

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

TSLTX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TSLTX Transamerica Small Cap Value	24.56%	9.56%	12.59%	8.84%	-12.51%	31.10%	5.99%	20.91%	-16.42%
SWPPX Schwab S&P 500 Index Fund	10.15%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-6.22%

Correlation

The correlation between TSLTX and SWPPX is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Mar 22, 2018	0.74

The correlation between TSLTX and SWPPX has been stable across timeframes, ranging from 0.70 to 0.75 - a consistent structural relationship.

Return for Risk

TSLTX vs. SWPPX — Risk / Return Rank

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

TSLTX

TSLTX Risk / Return Rank: 90
TSLTX Sharpe Ratio Rank: 91
TSLTX Sortino Ratio Rank: 88
TSLTX Omega Ratio Rank: 81
TSLTX Calmar Ratio Rank: 96
TSLTX Martin Ratio Rank: 95

SWPPX

SWPPX Risk / Return Rank: 66
SWPPX Sharpe Ratio Rank: 64
SWPPX Sortino Ratio Rank: 58
SWPPX Omega Ratio Rank: 60
SWPPX Calmar Ratio Rank: 68
SWPPX Martin Ratio Rank: 79

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.

TSLTX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Small Cap Value (TSLTX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	TSLTX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	2.81	2.16	+0.65
Sortino ratio: Return per unit of downside risk	3.92	2.91	+1.01
Omega ratio: Gain probability vs. loss probability	1.48	1.39	+0.09
Calmar ratio: Return relative to maximum drawdown	6.04	3.04	+3.01
Martin ratio: Return relative to average drawdown	20.12	13.71	+6.42

TSLTX vs. SWPPX - Sharpe Ratio Comparison

The current TSLTX Sharpe Ratio is 2.81, which is higher than the SWPPX Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of TSLTX and SWPPX, 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

TSLTX vs. SWPPX - Drawdown Comparison

The maximum TSLTX drawdown since its inception was -55.58%, roughly equal to the maximum SWPPX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for TSLTX and SWPPX.

Drawdown Indicators

	TSLTX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-55.58%	-55.06%	-0.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.73%	-8.89%	+1.16%
Max Drawdown (3Y) Largest decline over 3 years	-26.62%	-18.74%	-7.88%
Max Drawdown (5Y) Largest decline over 5 years	-55.58%	-24.51%	-31.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-15.97%	-1.38%	-14.59%
Average Drawdown Average peak-to-trough decline	-28.38%	-9.93%	-18.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.32%	1.97%	+0.35%

Volatility

TSLTX vs. SWPPX - Volatility Comparison

Transamerica Small Cap Value (TSLTX) and Schwab S&P 500 Index Fund (SWPPX) have volatilities of 4.83% and 4.83%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TSLTX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.83%	4.83%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	11.19%	9.94%	+1.25%
Volatility (1Y) Calculated over the trailing 1-year period	16.61%	12.50%	+4.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	50.00%	17.03%	+32.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	43.49%	18.27%	+25.22%

TSLTX vs. SWPPX - Expense Ratio Comparison

TSLTX has a 0.80% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

TSLTX vs. SWPPX - Dividend Comparison

TSLTX's dividend yield for the trailing twelve months is around 4.32%, more than SWPPX's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWPPX Schwab S&P 500 Index Fund	1.01%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%
TSLTX Transamerica Small Cap Value	4.32%	5.38%	27.99%	2.99%	21.70%	77.67%	0.24%	4.26%	11.17%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TSLTX and SWPPX in my portfolio?

TSLTX and SWPPX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TSLTX or SWPPX?

SWPPX has higher volatility (4.83%) compared to TSLTX (4.83%). In terms of maximum drawdown, TSLTX dropped -55.58% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

TSLTX currently has the higher Sharpe Ratio (2.81 vs 2.16), 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.