USSC.L vs. SWSBX

Last updated Jun 21, 2026

USSC.L (SPDR MSCI USA Small Cap Value Weighted UCITS ETF) and SWSBX (Schwab Short-Term Bond Index Fund) are both funds - USSC.L is a Small Cap Value Equities fund tracking the MSCI USA Small Cap Value Weighted Index, while SWSBX is a Short-Term Bond fund tracking the Bloomberg US Government/Credit 1-5 Year Index. Both are passively managed. Over the past 5 years, USSC.L returned 10.81%/yr vs 1.30%/yr for SWSBX. At a correlation of -0.03, they often move in opposite directions. USSC.L charges 0.30%/yr vs 0.06%/yr for SWSBX.

Performance

USSC.L vs. SWSBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and Schwab Short-Term Bond Index Fund (SWSBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, USSC.L achieves a 15.06% return, which is significantly higher than SWSBX's 0.13% return.

USSC.L

• 1D: 0.08%
• 1M: 4.61%
• YTD: 15.06%
• 6M: 14.68%
• 1Y: 36.38%
• 3Y*: 18.86%
• 5Y*: 10.81%
• 10Y*: 12.10%

SWSBX

• 1D: 0.10%
• 1M: 0.24%
• YTD: 0.13%
• 6M: 0.49%
• 1Y: 3.32%
• 3Y*: 4.19%
• 5Y*: 1.30%
• 10Y*: —

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

USSC.L vs. SWSBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	15.06%	14.72%	8.33%	23.18%	-10.14%	35.22%	8.76%	23.17%	-15.30%	7.41%
SWSBX Schwab Short-Term Bond Index Fund	0.13%	6.06%	3.42%	3.95%	-5.89%	-1.28%	4.47%	4.96%	1.34%	0.85%

Correlation

The correlation between USSC.L and SWSBX is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Feb 23, 2017	-0.03

The correlation between USSC.L and SWSBX shifts across timeframes, from -0.03 (all time) to 0.12 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

USSC.L vs. SWSBX — Risk / Return Rank

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

USSC.L

USSC.L Risk / Return Rank: 81
USSC.L Sharpe Ratio Rank: 79
USSC.L Sortino Ratio Rank: 84
USSC.L Omega Ratio Rank: 75
USSC.L Calmar Ratio Rank: 87
USSC.L Martin Ratio Rank: 81

SWSBX

SWSBX Risk / Return Rank: 40
SWSBX Sharpe Ratio Rank: 35
SWSBX Sortino Ratio Rank: 47
SWSBX Omega Ratio Rank: 43
SWSBX Calmar Ratio Rank: 40
SWSBX Martin Ratio Rank: 33

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.

USSC.L vs. SWSBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) and Schwab Short-Term Bond Index Fund (SWSBX). 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.

	USSC.L	SWSBX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.54	+0.86
Sortino ratio: Return per unit of downside risk	3.52	2.57	+0.95
Omega ratio: Gain probability vs. loss probability	1.41	1.32	+0.09
Calmar ratio: Return relative to maximum drawdown	4.71	2.23	+2.48
Martin ratio: Return relative to average drawdown	15.17	6.87	+8.30

USSC.L vs. SWSBX - Sharpe Ratio Comparison

The current USSC.L Sharpe Ratio is 2.40, which is higher than the SWSBX Sharpe Ratio of 1.54. The chart below compares the historical Sharpe Ratios of USSC.L and SWSBX, 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

USSC.L vs. SWSBX - Drawdown Comparison

The maximum USSC.L drawdown since its inception was -48.99%, which is greater than SWSBX's maximum drawdown of -9.06%. Use the drawdown chart below to compare losses from any high point for USSC.L and SWSBX.

Drawdown Indicators

	USSC.L	SWSBX	Difference
Max Drawdown Largest peak-to-trough decline	-48.99%	-9.06%	-39.93%
Max Drawdown (1Y) Largest decline over 1 year	-8.12%	-1.54%	-6.58%
Max Drawdown (3Y) Largest decline over 3 years	-27.47%	-1.79%	-25.68%
Max Drawdown (5Y) Largest decline over 5 years	-27.47%	-9.06%	-18.41%
Max Drawdown (10Y) Largest decline over 10 years	-48.99%	—	—
Current Drawdown Current decline from peak	-1.48%	-0.84%	-0.64%
Average Drawdown Average peak-to-trough decline	-7.66%	-1.79%	-5.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.52%	0.50%	+2.02%

Volatility

USSC.L vs. SWSBX - Volatility Comparison

SPDR MSCI USA Small Cap Value Weighted UCITS ETF (USSC.L) has a higher volatility of 3.65% compared to Schwab Short-Term Bond Index Fund (SWSBX) at 0.72%. This indicates that USSC.L's price experiences larger fluctuations and is considered to be riskier than SWSBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	USSC.L	SWSBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	0.72%	+2.93%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	1.68%	+8.53%
Volatility (1Y) Calculated over the trailing 1-year period	16.03%	2.23%	+13.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.58%	2.99%	+18.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.75%	2.47%	+20.28%

USSC.L vs. SWSBX - Expense Ratio Comparison

USSC.L has a 0.30% expense ratio, which is higher than SWSBX's 0.06% expense ratio.

Dividends

USSC.L vs. SWSBX - Dividend Comparison

USSC.L has not paid dividends to shareholders, while SWSBX's dividend yield for the trailing twelve months is around 4.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SWSBX Schwab Short-Term Bond Index Fund	4.14%	4.09%	3.66%	2.36%	1.11%	0.97%	1.82%	2.41%	2.12%	1.56%
USSC.L SPDR MSCI USA Small Cap Value Weighted UCITS ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both USSC.L and SWSBX in my portfolio?

USSC.L and SWSBX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.