PRWCX vs SWAGX: 0% overlap
T. Rowe Price Capital Appreciation and Schwab U.S. Aggregate Bond Index share 0.1% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
Different holding dates. These holdings were published 31 days apart — SWAGX as of 2026-02-28, the rest through 2026-03-31. Each fund is compared using its most recent file, so any trading in between shows up as a difference.
You would hold two tickers and get the diversification of 2.0. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
PRWCX and SWAGX hold 8 of the same securities. The ten contributing most to the overlap figure:
| Holding | in PRWCX | in SWAGX | Δ |
|---|---|---|---|
| 842587 | 0.2% | 0.0% | 0.2% |
| 65473P | 0.3% | 0.0% | 0.3% |
| 29364G | 0.3% | 0.0% | 0.3% |
| 15189T | 0.2% | 0.0% | 0.2% |
| 02557T | 0.3% | 0.0% | 0.3% |
| 46266T | 0.1% | 0.0% | 0.1% |
| 55354G | 0.1% | 0.0% | 0.1% |
| 09951L | 0.1% | 0.0% | 0.1% |
Where PRWCX and SWAGX differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | PRWCX | SWAGX | Δ |
|---|---|---|---|
| Treasuries | 18.2% | 45.7% | −27.6pp |
| MBS Pass-Through | 0.0% | 19.2% | −19.2pp |
| Information Technology | 17.8% | 0.0% | +17.8pp |
| Unclassified | 20.3% | 6.5% | +13.7pp |
| Corporate — industrial & other | 0.7% | 13.3% | −12.6pp |
| Health Care | 12.2% | 0.0% | +12.2pp |
| Consumer Discretionary | 7.2% | 0.0% | +7.2pp |
| Communication Services | 6.7% | 0.0% | +6.7pp |
Δ is PRWCX minus SWAGX, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
93.0% of PRWCX by weight, held in no part of SWAGX.
100.8% of SWAGX by weight, held in no part of PRWCX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| PRWCX | SWAGX | |
|---|---|---|
| Top 10 holdings | 46.0% | 71.4% |
| Positions held | 151 | 1,604 |
| Cost per $10,000 held, per year | $72 | $4 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do PRWCX and SWAGX overlap?
PRWCX and SWAGX overlap 0.1% by portfolio weight — largely distinct portfolios. They share 8 holdings. The figure comes from current issuer holdings files (PRWCX as of 2026-03-31, SWAGX as of 2026-02-28).
How is the overlap between PRWCX and SWAGX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If PRWCX holds a stock at 6% and SWAGX holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both PRWCX and SWAGX?
That depends on your goals — we state facts, not advice. At 0.1% overlap, each fund still contributes meaningfully distinct exposure.
What does PRWCX own that SWAGX doesn't?
PRWCX holds 151 positions and SWAGX holds 1,604; 142 of PRWCX's positions don't appear in SWAGX at all, and they are 93.0% of PRWCX by weight.
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Related comparisons
Sources: issuer holdings files, PRWCX as of 2026-03-31, SWAGX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.