AAINX vs. SWAGX

Last updated Jun 4, 2026

AAINX (Thrivent Opportunity Income Plus Fund) and SWAGX (Schwab U.S. Aggregate Bond Index Fund) are both mutual funds - AAINX is a Multisector Bonds fund managed by Thrivent Funds, while SWAGX is a Total Bond Market fund managed by Charles Schwab. Over the past 5 years, AAINX returned 2.32%/yr vs 0.01%/yr for SWAGX. A 0.67 correlation means they provide meaningful diversification when combined. AAINX charges 0.88%/yr vs 0.04%/yr for SWAGX.

Performance

AAINX vs. SWAGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Thrivent Opportunity Income Plus Fund (AAINX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAINX achieves a 1.81% return, which is significantly higher than SWAGX's 0.38% return.

AAINX

• 1D: 0.11%
• 1M: 0.81%
• YTD: 1.81%
• 6M: 2.14%
• 1Y: 7.30%
• 3Y*: 6.42%
• 5Y*: 2.32%
• 10Y*: 3.05%

SWAGX

• 1D: 0.00%
• 1M: 0.47%
• YTD: 0.38%
• 6M: 0.30%
• 1Y: 5.37%
• 3Y*: 3.97%
• 5Y*: 0.01%
• 10Y*: —

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

AAINX vs. SWAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAINX Thrivent Opportunity Income Plus Fund	1.81%	7.82%	4.90%	7.77%	-10.57%	1.47%	3.75%	8.23%	-1.24%	3.78%
SWAGX Schwab U.S. Aggregate Bond Index Fund	0.38%	7.11%	1.38%	5.46%	-13.62%	-2.29%	7.39%	8.64%	-0.11%	2.62%

Correlation

The correlation between AAINX and SWAGX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.79
Correlation (All Time) Calculated using the full available price history since Feb 24, 2017	0.67

The correlation between AAINX and SWAGX shifts across timeframes, from 0.67 (all time) to 0.88 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

AAINX vs. SWAGX — Risk / Return Rank

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

AAINX

AAINX Risk / Return Rank: 78
AAINX Sharpe Ratio Rank: 83
AAINX Sortino Ratio Rank: 89
AAINX Omega Ratio Rank: 86
AAINX Calmar Ratio Rank: 62
AAINX Martin Ratio Rank: 70

SWAGX

SWAGX Risk / Return Rank: 21
SWAGX Sharpe Ratio Rank: 21
SWAGX Sortino Ratio Rank: 23
SWAGX Omega Ratio Rank: 19
SWAGX Calmar Ratio Rank: 21
SWAGX Martin Ratio Rank: 19

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.

AAINX vs. SWAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Thrivent Opportunity Income Plus Fund (AAINX) and Schwab U.S. Aggregate Bond Index Fund (SWAGX). 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.

	AAINX	SWAGX	Difference
Sharpe ratio: Return per unit of total volatility	2.70	1.31	+1.38
Sortino ratio: Return per unit of downside risk	4.28	2.00	+2.29
Omega ratio: Gain probability vs. loss probability	1.59	1.23	+0.36
Calmar ratio: Return relative to maximum drawdown	3.03	1.73	+1.30
Martin ratio: Return relative to average drawdown	13.48	5.25	+8.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AAINX vs. SWAGX - Sharpe Ratio Comparison

The current AAINX Sharpe Ratio is 2.70, which is higher than the SWAGX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of AAINX and SWAGX, 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

	AAINX	SWAGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.70	1.31	+1.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.00	+0.58
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.32	+0.76

Drawdowns

AAINX vs. SWAGX - Drawdown Comparison

The maximum AAINX drawdown since its inception was -15.72%, smaller than the maximum SWAGX drawdown of -19.68%. Use the drawdown chart below to compare losses from any high point for AAINX and SWAGX.

Drawdown Indicators

	AAINX	SWAGX	Difference
Max Drawdown Largest peak-to-trough decline	-15.72%	-19.68%	+3.96%
Max Drawdown (1Y) Largest decline over 1 year	-2.46%	-3.05%	+0.59%
Max Drawdown (3Y) Largest decline over 3 years	-3.86%	-6.14%	+2.28%
Max Drawdown (5Y) Largest decline over 5 years	-14.18%	-18.76%	+4.58%
Max Drawdown (10Y) Largest decline over 10 years	-15.28%	—	—
Current Drawdown Current decline from peak	0.00%	-3.38%	+3.38%
Average Drawdown Average peak-to-trough decline	-1.87%	-5.68%	+3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	1.00%	-0.45%

Volatility

AAINX vs. SWAGX - Volatility Comparison

The current volatility for Thrivent Opportunity Income Plus Fund (AAINX) is 1.07%, while Schwab U.S. Aggregate Bond Index Fund (SWAGX) has a volatility of 1.35%. This indicates that AAINX experiences smaller price fluctuations and is considered to be less risky than SWAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAINX	SWAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	1.35%	-0.28%
Volatility (6M) Calculated over the trailing 6-month period	2.19%	2.93%	-0.74%
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	4.02%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.01%	6.08%	-2.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.89%	5.12%	-1.23%

AAINX vs. SWAGX - Expense Ratio Comparison

AAINX has a 0.88% expense ratio, which is higher than SWAGX's 0.04% expense ratio.

Dividends

AAINX vs. SWAGX - Dividend Comparison

AAINX's dividend yield for the trailing twelve months is around 4.62%, more than SWAGX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAINX Thrivent Opportunity Income Plus Fund	4.62%	4.62%	4.78%	3.88%	4.00%	2.74%	2.99%	3.76%	4.04%	3.28%	3.55%	3.88%
SWAGX Schwab U.S. Aggregate Bond Index Fund	4.13%	4.02%	3.88%	3.22%	1.93%	1.56%	2.47%	2.87%	2.80%	1.98%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAINX and SWAGX in my portfolio?

AAINX and SWAGX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AAINX or SWAGX?

SWAGX has higher volatility (1.35%) compared to AAINX (1.07%). In terms of maximum drawdown, AAINX dropped -15.72% vs SWAGX's -19.68%.

Which has better risk-adjusted returns?

AAINX currently has the higher Sharpe Ratio (2.70 vs 1.31), 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.