SWMCX’s worst drop since 2017 was 40%
Schwab US Mid-Cap Index Fund (SWMCX) fell 40% from Feb 2020 to Mar 2020. It took 0.6 years from that peak to close at a new high, in Oct 2020. Over the same years the S&P 500 fell as much as 34%.
That drop is milder than most. It ranks 62nd of the 109 mutual funds PortfolioAutopsy tracks, counted from the deepest.
Drawdown from the last high, 2017 to now
How SWMCX held up in each crash
| Crash | Years | SWMCX | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −40.3% | −33.7% |
| 2022 rate shock | 2022 | −24.2% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was SWMCX’s maximum drawdown?
SWMCX’s deepest fall since 2017 was 40.3%, from its high on February 20, 2020 to its low on March 23, 2020. The figure uses daily prices with dividends reinvested.
How long did SWMCX take to recover?
0.6 years. SWMCX first closed above its Feb 2020 high again on October 12, 2020.
Was SWMCX riskier than the S&P 500?
Over the same years, SWMCX’s worst drop was 40.3% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −29.4% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, December 20, 2017 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.