SWCAX Performance — Schwab California Tax-Free Bond Fund
Data updated: 2026-07-24
SWCAX returned +0.85% year to date and +5.84% over one year to May 2026. Annualised returns are +3.50% over 3 years and +0.79% over 5 years. The fund trailed its Intermediate Municipal Bond category average: $100 invested three years ago grew to $111, against $111 for the category, and to $106 over one year, against $106. Volatility over the past three years was 4.06% a year. In the 12 months to May 2026 the fund took in a net $125.8M, and assets reached $594.81M.
SWCAX Growth of $100
What $100 invested in Schwab California Tax-Free Bond Fund grew to, compounded from monthly returns reported on SEC Form N-PORT, against the Intermediate Municipal Bond category average over the same months.
| Period | SWCAX | Category average |
|---|---|---|
| 1 year (Jun 2025 – May 2026) | $106 | $106 |
| 3 years (Jun 2023 – May 2026) | $111 | $111 |
| 5 years (Jun 2021 – May 2026) | $104 | $104 |
| Since data start (Sep 2019 – May 2026) | $108 | $109 |
SWCAX Trailing Returns
Total returns to May 2026, from SEC N-PORT.
| Period | Total return |
|---|---|
| YTD | +0.85% |
| 1 year | +5.84% |
| 3 years (annualised) | +3.50% |
| 5 years (annualised) | +0.79% |
SWCAX Annual Returns
Calendar-year total returns of Schwab California Tax-Free Bond Fund, compounded from monthly SEC N-PORT returns. Partial years show the months covered.
| Year | Total return |
|---|---|
| 2026 (Jan–May) | +0.85% |
| 2025 | +3.68% |
| 2024 | +1.95% |
| 2023 | +5.19% |
| 2022 | −7.61% |
| 2021 | +0.76% |
| 2020 | +4.07% |
| 2019 (Sep–Dec) | −0.24% |
SWCAX Monthly Returns
Monthly total returns as reported on SEC Form N-PORT.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | +0.8% | +1.2% | −2.2% | +0.8% | +0.4% | — | — | — | — | — | — | — |
| 2025 | +0.1% | +0.9% | −1.4% | −0.5% | −0.2% | +0.7% | −0.2% | +0.8% | +2.0% | +1.1% | +0.3% | +0.2% |
| 2024 | −0.1% | +0.1% | +0.1% | −0.6% | −0.2% | +1.2% | +0.7% | +0.7% | +0.9% | −1.2% | +1.3% | −0.9% |
| 2023 | +2.2% | −1.8% | +1.7% | −0.1% | −0.7% | +0.7% | +0.3% | −0.7% | −1.8% | −0.6% | +4.2% | +1.9% |
| 2022 | −2.5% | −0.5% | −2.6% | −2.5% | +1.1% | −1.2% | +2.2% | −1.9% | −3.0% | −0.4% | +3.4% | +0.2% |
| 2021 | +0.4% | −1.3% | +0.5% | +0.6% | +0.2% | +0.2% | +0.8% | −0.4% | −0.7% | −0.2% | +0.6% | 0.0% |
| 2020 | +1.5% | +1.0% | −3.2% | −1.2% | +3.1% | +0.4% | +1.6% | −0.3% | 0.0% | −0.3% | +1.1% | +0.4% |
| 2019 | — | — | — | — | — | — | — | — | −0.8% | +0.2% | +0.1% | +0.3% |
SWCAX Risk
Risk measures from monthly returns over Jun 2023 – May 2026.
- 3-year volatility (annualised): 4.06%
- 3-year Sharpe ratio: -0.25 (vs 4.5% risk-free rate)
- Best month: +4.22% (Nov 2023)
- Worst month: −2.23% (Mar 2026)
SWCAX Fund Flows
Monthly money in and out of Schwab California Tax-Free Bond Fund, from SEC Form N-PORT.
- 12-month net flow: $125.8M
- 12-month gross sales (incl. reinvestments): $308.5M
- Sales ÷ redemptions: 1.69×
| Month | Sales | Redemptions | Net flow |
|---|---|---|---|
| May 2026 | $24.3M | $26.1M | −$1.8M |
| Apr 2026 | $24.0M | $15.1M | $8.9M |
| Mar 2026 | $33.2M | $22.4M | $10.7M |
| Feb 2026 | $40.4M | $10.0M | $30.4M |
| Jan 2026 | $46.4M | $15.6M | $30.8M |
| Dec 2025 | $25.7M | $29.1M | −$3.4M |
| Nov 2025 | $24.4M | $5.5M | $18.9M |
| Oct 2025 | $24.9M | $7.4M | $17.5M |
| Sep 2025 | $16.9M | $10.1M | $6.8M |
| Aug 2025 | $14.4M | $13.9M | $433K |
| Jul 2025 | $15.3M | $14.1M | $1.2M |
| Jun 2025 | $18.6M | $13.4M | $5.3M |
SWCAX Assets Under Management
Net assets of Schwab California Tax-Free Bond Fund by report date, from SEC N-PORT filings.
| Report date | Net assets |
|---|---|
| 2026-05-31 | $594.81M |
| 2026-02-28 | $588.07M |
| 2025-11-30 | $523.06M |
| 2025-08-31 | $467.38M |
| 2025-05-31 | $458.57M |
| 2025-02-28 | $448.15M |
| 2024-11-30 | $450.74M |
| 2024-08-31 | $438.39M |
| 2024-05-31 | $429.22M |
| 2024-02-29 | $436.34M |
| 2023-11-30 | $423.16M |
| 2023-08-31 | $400.24M |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.