AOK vs. SWLRX

Last updated Jun 4, 2026

AOK (iShares Core Conservative Allocation ETF) and SWLRX (Schwab Monthly Income Fund - Maximum Payout) are both Diversified Portfolio funds. Over the past 10 years, AOK returned 5.14%/yr vs 3.48%/yr for SWLRX. A 0.70 correlation means they provide meaningful diversification when combined. AOK charges 0.25%/yr vs 0.00%/yr for SWLRX.

Performance

AOK vs. SWLRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Core Conservative Allocation ETF (AOK) and Schwab Monthly Income Fund - Maximum Payout (SWLRX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with AOK having a 4.26% return and SWLRX slightly higher at 4.27%. Over the past 10 years, AOK has outperformed SWLRX with an annualized return of 5.14%, while SWLRX has yielded a comparatively lower 3.48% annualized return.

AOK

• 1D: -0.41%
• 1M: 1.66%
• YTD: 4.26%
• 6M: 4.14%
• 1Y: 12.11%
• 3Y*: 9.28%
• 5Y*: 3.71%
• 10Y*: 5.14%

SWLRX

• 1D: 0.10%
• 1M: 0.79%
• YTD: 4.27%
• 6M: 4.44%
• 1Y: 10.74%
• 3Y*: 8.00%
• 5Y*: 2.70%
• 10Y*: 3.48%

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

AOK vs. SWLRX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AOK iShares Core Conservative Allocation ETF	4.26%	11.26%	6.58%	10.85%	-14.16%	4.87%	9.33%	13.90%	-3.09%	9.70%
SWLRX Schwab Monthly Income Fund - Maximum Payout	4.27%	9.85%	3.75%	8.04%	-12.49%	2.33%	6.93%	11.18%	-2.31%	5.64%

Correlation

The correlation between AOK and SWLRX is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Nov 11, 2008	0.70

The correlation between AOK and SWLRX shifts across timeframes, from 0.70 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

AOK vs. SWLRX — Risk / Return Rank

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

AOK

AOK Risk / Return Rank: 61
AOK Sharpe Ratio Rank: 61
AOK Sortino Ratio Rank: 64
AOK Omega Ratio Rank: 65
AOK Calmar Ratio Rank: 54
AOK Martin Ratio Rank: 62

SWLRX

SWLRX Risk / Return Rank: 67
SWLRX Sharpe Ratio Rank: 72
SWLRX Sortino Ratio Rank: 74
SWLRX Omega Ratio Rank: 70
SWLRX Calmar Ratio Rank: 64
SWLRX Martin Ratio Rank: 56

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.

AOK vs. SWLRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Core Conservative Allocation ETF (AOK) and Schwab Monthly Income Fund - Maximum Payout (SWLRX). 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.

	AOK	SWLRX	Difference
Sharpe ratio Return per unit of total volatility	2.11	2.46	-0.35
Sortino ratio Return per unit of downside risk	3.01	3.59	-0.58
Omega ratio Gain probability vs. loss probability	1.41	1.47	-0.06
Calmar ratio Return relative to maximum drawdown	2.70	3.09	-0.39
Martin ratio Return relative to average drawdown	11.50	11.33	+0.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AOK vs. SWLRX - Sharpe Ratio Comparison

The current AOK Sharpe Ratio is 2.11, which is comparable to the SWLRX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of AOK and SWLRX, 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

	AOK	SWLRX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.11	2.46	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.44	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.77	0.68	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.71	0.82	-0.11

Drawdowns

AOK vs. SWLRX - Drawdown Comparison

The maximum AOK drawdown since its inception was -18.94%, roughly equal to the maximum SWLRX drawdown of -18.60%. Use the drawdown chart below to compare losses from any high point for AOK and SWLRX.

Drawdown Indicators

	AOK	SWLRX	Difference
Max Drawdown Largest peak-to-trough decline	-18.94%	-18.60%	-0.34%
Max Drawdown (1Y) Largest decline over 1 year	-4.50%	-3.49%	-1.01%
Max Drawdown (3Y) Largest decline over 3 years	-6.37%	-6.47%	+0.10%
Max Drawdown (5Y) Largest decline over 5 years	-18.94%	-18.60%	-0.34%
Max Drawdown (10Y) Largest decline over 10 years	-18.94%	-18.60%	-0.34%
Current Drawdown Current decline from peak	-0.41%	-0.74%	+0.33%
Average Drawdown Average peak-to-trough decline	-2.37%	-2.36%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.06%	0.95%	+0.11%

Volatility

AOK vs. SWLRX - Volatility Comparison

iShares Core Conservative Allocation ETF (AOK) has a higher volatility of 1.97% compared to Schwab Monthly Income Fund - Maximum Payout (SWLRX) at 1.34%. This indicates that AOK's price experiences larger fluctuations and is considered to be riskier than SWLRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AOK	SWLRX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	1.34%	+0.63%
Volatility (6M) Calculated over the trailing 6-month period	4.47%	3.33%	+1.14%
Volatility (1Y) Calculated over the trailing 1-year period	5.76%	4.38%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.10%	6.20%	+0.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.71%	5.13%	+1.58%

AOK vs. SWLRX - Expense Ratio Comparison

AOK has a 0.25% expense ratio, which is higher than SWLRX's 0.00% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

AOK vs. SWLRX - Dividend Comparison

AOK's dividend yield for the trailing twelve months is around 3.28%, less than SWLRX's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOK iShares Core Conservative Allocation ETF	3.28%	3.28%	3.23%	2.93%	2.25%	1.55%	2.10%	2.71%	2.68%	2.91%	2.14%	2.02%
SWLRX Schwab Monthly Income Fund - Maximum Payout	4.58%	4.63%	4.94%	4.10%	4.63%	3.07%	2.19%	3.22%	3.30%	2.47%	4.00%	4.31%

Frequently Asked Questions

Can I hold both AOK and SWLRX in my portfolio?

AOK and SWLRX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AOK or SWLRX?

AOK has higher volatility (1.97%) compared to SWLRX (1.34%). In terms of maximum drawdown, AOK dropped -18.94% vs SWLRX's -18.60%.

Which has better risk-adjusted returns?

SWLRX currently has the higher Sharpe Ratio (2.46 vs 2.11), 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.