DFAAX vs. SWRSX

Last updated Jun 4, 2026

DFAAX (DFA Global Core Plus Real Return Portfolio) and SWRSX (Schwab Treasury Inflation Protected Securities Index Fund) are both Inflation-Protected Bonds funds. Over the past 5 years, DFAAX returned 5.25%/yr vs 1.23%/yr for SWRSX. Their correlation of 0.80 suggests significant overlap in exposure. DFAAX charges 0.29%/yr vs 0.05%/yr for SWRSX.

Performance

DFAAX vs. SWRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DFA Global Core Plus Real Return Portfolio (DFAAX) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DFAAX achieves a 3.06% return, which is significantly higher than SWRSX's 1.72% return.

DFAAX

• 1D: 0.10%
• 1M: 0.82%
• YTD: 3.06%
• 6M: 2.63%
• 1Y: 5.28%
• 3Y*: 6.24%
• 5Y*: 5.25%
• 10Y*: —

SWRSX

• 1D: 0.00%
• 1M: 0.10%
• YTD: 1.72%
• 6M: 1.28%
• 1Y: 5.28%
• 3Y*: 4.09%
• 5Y*: 1.23%
• 10Y*: 2.66%

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

DFAAX vs. SWRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DFAAX DFA Global Core Plus Real Return Portfolio	3.06%	5.18%	4.41%	9.49%	-13.40%	20.47%
SWRSX Schwab Treasury Inflation Protected Securities Index Fund	1.72%	6.84%	1.95%	3.80%	-12.01%	4.95%

Correlation

The correlation between DFAAX and SWRSX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (All Time) Calculated using the full available price history since May 6, 2021	0.80

The correlation between DFAAX and SWRSX shifts across timeframes, from 0.68 (1 year) to 0.80 (all time), reflecting how their relationship changes across market environments.

Return for Risk

DFAAX vs. SWRSX — Risk / Return Rank

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

DFAAX

DFAAX Risk / Return Rank: 34
DFAAX Sharpe Ratio Rank: 35
DFAAX Sortino Ratio Rank: 36
DFAAX Omega Ratio Rank: 40
DFAAX Calmar Ratio Rank: 30
DFAAX Martin Ratio Rank: 31

SWRSX

SWRSX Risk / Return Rank: 37
SWRSX Sharpe Ratio Rank: 32
SWRSX Sortino Ratio Rank: 35
SWRSX Omega Ratio Rank: 31
SWRSX Calmar Ratio Rank: 51
SWRSX Martin Ratio Rank: 38

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.

DFAAX vs. SWRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DFA Global Core Plus Real Return Portfolio (DFAAX) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX). 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.

	DFAAX	SWRSX	Difference
Sharpe ratio: Return per unit of total volatility	1.71	1.61	+0.10
Sortino ratio: Return per unit of downside risk	2.50	2.47	+0.04
Omega ratio: Gain probability vs. loss probability	1.34	1.30	+0.05
Calmar ratio: Return relative to maximum drawdown	2.06	2.73	-0.67
Martin ratio: Return relative to average drawdown	7.27	8.25	-0.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFAAX vs. SWRSX - Sharpe Ratio Comparison

The current DFAAX Sharpe Ratio is 1.71, which is comparable to the SWRSX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of DFAAX and SWRSX, 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

	DFAAX	SWRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	1.61	+0.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.20	+0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.58	+0.05

Drawdowns

DFAAX vs. SWRSX - Drawdown Comparison

The maximum DFAAX drawdown since its inception was -16.64%, which is greater than SWRSX's maximum drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for DFAAX and SWRSX.

Drawdown Indicators

	DFAAX	SWRSX	Difference
Max Drawdown Largest peak-to-trough decline	-16.64%	-14.29%	-2.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.55%	-1.90%	-0.65%
Max Drawdown (3Y) Largest decline over 3 years	-3.44%	-4.46%	+1.02%
Max Drawdown (5Y) Largest decline over 5 years	-16.64%	-14.29%	-2.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.29%	—
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-4.55%	-3.72%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.63%	+0.09%

Volatility

DFAAX vs. SWRSX - Volatility Comparison

DFA Global Core Plus Real Return Portfolio (DFAAX) has a higher volatility of 0.93% compared to Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) at 0.86%. This indicates that DFAAX's price experiences larger fluctuations and is considered to be riskier than SWRSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFAAX	SWRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.93%	0.86%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	2.23%	2.20%	+0.03%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	3.26%	-0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.37%	6.04%	+2.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.32%	5.37%	+2.95%

DFAAX vs. SWRSX - Expense Ratio Comparison

DFAAX has a 0.29% expense ratio, which is higher than SWRSX's 0.05% expense ratio.

Dividends

DFAAX vs. SWRSX - Dividend Comparison

DFAAX's dividend yield for the trailing twelve months is around 3.37%, less than SWRSX's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DFAAX DFA Global Core Plus Real Return Portfolio	3.37%	2.90%	4.09%	3.96%	2.06%	13.05%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWRSX Schwab Treasury Inflation Protected Securities Index Fund	3.78%	4.20%	3.68%	3.11%	7.95%	4.45%	1.33%	2.20%	2.87%	1.75%	1.81%	1.06%

Frequently Asked Questions

Can I hold both DFAAX and SWRSX in my portfolio?

DFAAX and SWRSX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DFAAX or SWRSX?

DFAAX has higher volatility (0.93%) compared to SWRSX (0.86%). In terms of maximum drawdown, DFAAX dropped -16.64% vs SWRSX's -14.29%.

Which has better risk-adjusted returns?

DFAAX currently has the higher Sharpe Ratio (1.71 vs 1.61), 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.