TWCGX vs. SWLGX

Last updated Jun 5, 2026

TWCGX (American Century Growth Fund) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, TWCGX returned 12.73%/yr vs 15.39%/yr for SWLGX. With a 0.99 correlation, they move nearly in lockstep. TWCGX charges 0.94%/yr vs 0.04%/yr for SWLGX.

Performance

TWCGX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Century Growth Fund (TWCGX) and Schwab U.S. Large-Cap Growth Index Fund (SWLGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with TWCGX having a 6.85% return and SWLGX slightly higher at 7.13%.

TWCGX

• 1D: -1.58%
• 1M: 5.40%
• YTD: 6.85%
• 6M: 5.83%
• 1Y: 24.11%
• 3Y*: 21.34%
• 5Y*: 12.73%
• 10Y*: 16.84%

SWLGX

• 1D: -1.37%
• 1M: 5.09%
• YTD: 7.13%
• 6M: 6.28%
• 1Y: 25.25%
• 3Y*: 24.97%
• 5Y*: 15.39%
• 10Y*: —

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

TWCGX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWCGX American Century Growth Fund	6.85%	15.28%	26.20%	43.31%	-31.39%	27.86%	35.23%	35.39%	-1.27%	-0.88%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	7.13%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between TWCGX and SWLGX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.99

The correlation between TWCGX and SWLGX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

TWCGX vs. SWLGX — Risk / Return Rank

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

TWCGX

TWCGX Risk / Return Rank: 24
TWCGX Sharpe Ratio Rank: 29
TWCGX Sortino Ratio Rank: 26
TWCGX Omega Ratio Rank: 27
TWCGX Calmar Ratio Rank: 17
TWCGX Martin Ratio Rank: 19

SWLGX

SWLGX Risk / Return Rank: 27
SWLGX Sharpe Ratio Rank: 33
SWLGX Sortino Ratio Rank: 30
SWLGX Omega Ratio Rank: 30
SWLGX Calmar Ratio Rank: 19
SWLGX Martin Ratio Rank: 21

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.

TWCGX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Century Growth Fund (TWCGX) 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.

	TWCGX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.57	1.67	-0.10
Sortino ratio: Return per unit of downside risk	2.16	2.29	-0.12
Omega ratio: Gain probability vs. loss probability	1.27	1.29	-0.02
Calmar ratio: Return relative to maximum drawdown	1.49	1.60	-0.11
Martin ratio: Return relative to average drawdown	4.93	5.38	-0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TWCGX vs. SWLGX - Sharpe Ratio Comparison

The current TWCGX Sharpe Ratio is 1.57, which is comparable to the SWLGX Sharpe Ratio of 1.67. The chart below compares the historical Sharpe Ratios of TWCGX 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.

Sharpe Ratios by Period

	TWCGX	SWLGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.57	1.67	-0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.72	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.79	-0.26

Drawdowns

TWCGX vs. SWLGX - Drawdown Comparison

The maximum TWCGX drawdown since its inception was -59.60%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for TWCGX and SWLGX.

Drawdown Indicators

	TWCGX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-59.60%	-32.69%	-26.91%
Max Drawdown (1Y) Largest decline over 1 year	-16.69%	-16.16%	-0.53%
Max Drawdown (3Y) Largest decline over 3 years	-24.20%	-23.30%	-0.90%
Max Drawdown (5Y) Largest decline over 5 years	-34.92%	-32.69%	-2.23%
Max Drawdown (10Y) Largest decline over 10 years	-34.92%	—	—
Current Drawdown Current decline from peak	-2.09%	-1.73%	-0.36%
Average Drawdown Average peak-to-trough decline	-15.29%	-7.05%	-8.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.01%	4.80%	+0.21%

Volatility

TWCGX vs. SWLGX - Volatility Comparison

American Century Growth Fund (TWCGX) has a higher volatility of 3.94% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 3.67%. This indicates that TWCGX's price experiences larger fluctuations and is considered to be riskier than SWLGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TWCGX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.94%	3.67%	+0.27%
Volatility (6M) Calculated over the trailing 6-month period	12.02%	11.67%	+0.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.80%	15.46%	+0.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.60%	21.50%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.32%	22.68%	-1.36%

TWCGX vs. SWLGX - Expense Ratio Comparison

TWCGX has a 0.94% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

TWCGX vs. SWLGX - Dividend Comparison

TWCGX's dividend yield for the trailing twelve months is around 16.04%, more than SWLGX's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.43%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%	0.00%	0.00%	0.00%
TWCGX American Century Growth Fund	16.04%	17.14%	5.96%	4.81%	4.86%	9.83%	5.33%	5.60%	14.07%	10.28%	4.64%	6.80%

Frequently Asked Questions

Can I hold both TWCGX and SWLGX in my portfolio?

With a correlation of 0.99, TWCGX and SWLGX 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, TWCGX or SWLGX?

TWCGX has higher volatility (3.94%) compared to SWLGX (3.67%). In terms of maximum drawdown, TWCGX dropped -59.60% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.67 vs 1.57), 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.