VAFIX vs. SWLGX

Last updated Jun 4, 2026

VAFIX (Invesco American Franchise Fund Class Y) and SWLGX (Schwab U.S. Large-Cap Growth Index Fund) are both Large Cap Growth Equities funds. Over the past 5 years, VAFIX returned 11.21%/yr vs 16.03%/yr for SWLGX. With a 0.96 correlation, they move nearly in lockstep. VAFIX charges 0.72%/yr vs 0.04%/yr for SWLGX.

Performance

VAFIX vs. SWLGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco American Franchise Fund Class Y (VAFIX) 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, VAFIX achieves a 9.78% return, which is significantly higher than SWLGX's 8.61% return.

VAFIX

• 1D: 1.02%
• 1M: 6.43%
• YTD: 9.78%
• 6M: 8.91%
• 1Y: 23.32%
• 3Y*: 23.59%
• 5Y*: 11.21%
• 10Y*: 16.22%

SWLGX

• 1D: -0.37%
• 1M: 7.15%
• YTD: 8.61%
• 6M: 8.00%
• 1Y: 27.46%
• 3Y*: 25.54%
• 5Y*: 16.03%
• 10Y*: —

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

VAFIX vs. SWLGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VAFIX Invesco American Franchise Fund Class Y	9.78%	12.12%	35.11%	41.27%	-31.05%	11.47%	42.53%	36.82%	-3.71%	-0.74%
SWLGX Schwab U.S. Large-Cap Growth Index Fund	8.61%	18.55%	33.30%	42.67%	-29.17%	27.55%	38.43%	36.30%	-1.59%	-0.60%

Correlation

The correlation between VAFIX and SWLGX 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	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 20, 2017	0.96

The correlation between VAFIX and SWLGX has been stable across timeframes, ranging from 0.93 to 0.97 - a consistent structural relationship.

Return for Risk

VAFIX vs. SWLGX — Risk / Return Rank

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

VAFIX

VAFIX Risk / Return Rank: 17
VAFIX Sharpe Ratio Rank: 20
VAFIX Sortino Ratio Rank: 18
VAFIX Omega Ratio Rank: 19
VAFIX Calmar Ratio Rank: 14
VAFIX Martin Ratio Rank: 13

SWLGX

SWLGX Risk / Return Rank: 32
SWLGX Sharpe Ratio Rank: 40
SWLGX Sortino Ratio Rank: 36
SWLGX Omega Ratio Rank: 37
SWLGX Calmar Ratio Rank: 22
SWLGX Martin Ratio Rank: 23

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.

VAFIX vs. SWLGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco American Franchise Fund Class Y (VAFIX) 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.

	VAFIX	SWLGX	Difference
Sharpe ratio: Return per unit of total volatility	1.27	1.85	-0.58
Sortino ratio: Return per unit of downside risk	1.76	2.50	-0.75
Omega ratio: Gain probability vs. loss probability	1.23	1.32	-0.09
Calmar ratio: Return relative to maximum drawdown	1.27	1.76	-0.49
Martin ratio: Return relative to average drawdown	3.84	5.92	-2.08
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAFIX vs. SWLGX - Sharpe Ratio Comparison

The current VAFIX Sharpe Ratio is 1.27, which is lower than the SWLGX Sharpe Ratio of 1.85. The chart below compares the historical Sharpe Ratios of VAFIX 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

	VAFIX	SWLGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.85	-0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.49	0.75	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.73	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.80	-0.22

Drawdowns

VAFIX vs. SWLGX - Drawdown Comparison

The maximum VAFIX drawdown since its inception was -48.20%, which is greater than SWLGX's maximum drawdown of -32.69%. Use the drawdown chart below to compare losses from any high point for VAFIX and SWLGX.

Drawdown Indicators

	VAFIX	SWLGX	Difference
Max Drawdown Largest peak-to-trough decline	-48.20%	-32.69%	-15.51%
Max Drawdown (1Y) Largest decline over 1 year	-19.21%	-16.16%	-3.05%
Max Drawdown (3Y) Largest decline over 3 years	-27.22%	-23.30%	-3.92%
Max Drawdown (5Y) Largest decline over 5 years	-38.69%	-32.69%	-6.00%
Max Drawdown (10Y) Largest decline over 10 years	-38.69%	—	—
Current Drawdown Current decline from peak	0.00%	-0.37%	+0.37%
Average Drawdown Average peak-to-trough decline	-8.16%	-7.05%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.31%	4.80%	+1.51%

Volatility

VAFIX vs. SWLGX - Volatility Comparison

Invesco American Franchise Fund Class Y (VAFIX) has a higher volatility of 4.95% compared to Schwab U.S. Large-Cap Growth Index Fund (SWLGX) at 3.30%. This indicates that VAFIX'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

	VAFIX	SWLGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	3.30%	+1.65%
Volatility (6M) Calculated over the trailing 6-month period	14.61%	11.59%	+3.02%
Volatility (1Y) Calculated over the trailing 1-year period	19.19%	15.40%	+3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.04%	21.49%	+1.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.29%	22.68%	-0.39%

VAFIX vs. SWLGX - Expense Ratio Comparison

VAFIX has a 0.72% expense ratio, which is higher than SWLGX's 0.04% expense ratio.

Dividends

VAFIX vs. SWLGX - Dividend Comparison

VAFIX's dividend yield for the trailing twelve months is around 11.95%, more than SWLGX's 0.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SWLGX Schwab U.S. Large-Cap Growth Index Fund	0.42%	0.46%	0.52%	0.67%	0.93%	1.76%	0.67%	0.96%	1.03%	0.00%	0.00%	0.00%
VAFIX Invesco American Franchise Fund Class Y	11.95%	13.12%	3.52%	0.00%	7.89%	25.28%	8.48%	6.66%	10.16%	5.26%	4.01%	4.84%

Frequently Asked Questions

Can I hold both VAFIX and SWLGX in my portfolio?

With a correlation of 0.93, VAFIX 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, VAFIX or SWLGX?

VAFIX has higher volatility (4.95%) compared to SWLGX (3.30%). In terms of maximum drawdown, VAFIX dropped -48.20% vs SWLGX's -32.69%.

Which has better risk-adjusted returns?

SWLGX currently has the higher Sharpe Ratio (1.85 vs 1.27), 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.