TWCGX vs. SWLGX

Last updated Aug 5, 2026

TWCGX (American Century Growth Fund Investor Class) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. TWCGX is actively managed, while SWLGX is passively managed. Over the past 5 years, TWCGX returned 10.11%/yr vs 12.18%/yr for SWLGX. Their 0.99 correlation means they have historically moved very closely together. TWCGX charges 0.96%/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 Investor Class (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

In the year-to-date period, TWCGX achieves a 4.79% return, which is significantly higher than SWLGX's 2.45% return.

TWCGX

• 1D: 2.28%
• 1M: 0.96%
• 6M: 8.49%
• YTD: 4.79%
• 1Y: 12.82%
• 3Y*: 19.10%
• 5Y*: 10.11%
• 10Y*: 16.05%
• ALL TIME*: 11.62%

SWLGX

• 1D: 2.16%
• 1M: -0.33%
• 6M: 5.58%
• YTD: 2.45%
• 1Y: 10.34%
• 3Y*: 21.31%
• 5Y*: 12.18%
• 10Y*: —
• ALL TIME*: 16.93%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
SWLGX Schwab U.S. Large-Cap Growth Index Fund	$0.00	$0.00	$0.00
TWCGX American Century Growth Fund Investor Class	$0.00	$0.00	$0.00

TWCGX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TWCGX American Century Growth Fund Investor Class	4.79%	15.28%	26.20%	43.31%	-31.39%	27.86%	35.23%	35.39%	-1.27%	-1.07%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	2.45%	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 - they have historically moved very closely together. At this level, their price movements offset little of one another.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.99
Correlation (3Y) Balances recent behavior with more history.	0.99
Correlation (5Y) Shows whether the relationship held over a longer period.	0.99
Correlation (All Time) Calculated using the full available price history since Dec 19, 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 historical risk-adjusted metric ranks over the past 12 months.

TWCGX

TWCGX Risk / Return Rank: 21
TWCGX Sharpe Ratio Rank: 22
TWCGX Sortino Ratio Rank: 22
TWCGX Omega Ratio Rank: 22
TWCGX Calmar Ratio Rank: 18
TWCGX Martin Ratio Rank: 19

SWLGX

SWLGX Risk / Return Rank: 17
SWLGX Sharpe Ratio Rank: 18
SWLGX Sortino Ratio Rank: 18
SWLGX Omega Ratio Rank: 17
SWLGX Calmar Ratio Rank: 15
SWLGX Martin Ratio Rank: 16

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TWCGX vs. SWLGX - Risk-Adjusted Trends Comparison

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

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.

	TWCGX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	0.72	+0.15
Sortino ratio: Return per unit of downside risk	1.29	1.09	+0.20
Omega ratio: Gain probability vs. loss probability	1.16	1.13	+0.03
Calmar ratio: Return relative to maximum drawdown	0.91	0.78	+0.14
Martin ratio: Return relative to average drawdown	2.75	2.32	+0.43

TWCGX vs. SWLGX - Sharpe Ratio Comparison

The current TWCGX Sharpe Ratio is 0.87, which is comparable to the SWLGX Sharpe Ratio of 0.72. 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.

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	-3.97%	-6.02%	+2.05%
Average Drawdown Average peak-to-trough decline	-15.26%	-7.03%	-8.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.53%	5.40%	+0.13%

Volatility

TWCGX vs. SWLGX - Volatility Comparison

The current volatility for American Century Growth Fund Investor Class (TWCGX) is 6.19%, while Schwab U.S. Large-Cap Growth Index Fund (SWLGX) has a volatility of 6.70%. This indicates that TWCGX experiences smaller price fluctuations and is considered to be less risky 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	6.19%	6.70%	-0.51%
Volatility (6M) Calculated over the trailing 6-month period	14.04%	14.17%	-0.13%
Volatility (1Y) Calculated over the trailing 1-year period	17.56%	17.56%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.88%	21.83%	+0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.44%	22.69%	-1.25%

TWCGX vs. SWLGX - Expense Ratio Comparison

TWCGX has a 0.96% 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 16.35%, more than SWLGX's 0.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.45%	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 Investor Class	16.35%	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?

SWLGX has higher volatility (6.70%) compared to TWCGX (6.19%). In terms of maximum drawdown, TWCGX dropped -59.60% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

TWCGX currently has the higher Sharpe Ratio (0.87 vs 0.72), 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.