GAA vs. SWOBX
GAA (Cambria Global Asset Allocation ETF) and SWOBX (Schwab Balanced Fund™) are both Diversified Portfolio funds. Over the past 10 years, GAA returned 7.83%/yr vs 8.91%/yr for SWOBX. A 0.59 correlation means they provide meaningful diversification when combined. GAA charges 0.41%/yr vs 0.00%/yr for SWOBX.
Performance
GAA vs. SWOBX - Performance Comparison
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Returns By Period
In the year-to-date period, GAA achieves a 9.54% return, which is significantly higher than SWOBX's 5.37% return. Over the past 10 years, GAA has underperformed SWOBX with an annualized return of 7.83%, while SWOBX has yielded a comparatively higher 8.91% annualized return.
GAA
- 1D
- 0.68%
- 1M
- 0.77%
- YTD
- 9.54%
- 6M
- 10.07%
- 1Y
- 20.97%
- 3Y*
- 14.18%
- 5Y*
- 6.65%
- 10Y*
- 7.83%
SWOBX
- 1D
- 0.91%
- 1M
- 0.53%
- YTD
- 5.37%
- 6M
- 5.11%
- 1Y
- 16.17%
- 3Y*
- 12.46%
- 5Y*
- 6.67%
- 10Y*
- 8.91%
GAA vs. SWOBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 9.54% | 18.76% | 6.67% | 7.65% | -8.47% | 11.17% | 9.11% | 15.12% | -7.15% | 15.11% |
SWOBX Schwab Balanced Fund™ | 5.37% | 12.76% | 12.51% | 18.25% | -18.86% | 14.76% | 14.73% | 20.13% | -4.35% | 15.52% |
Correlation
The correlation between GAA and SWOBX is 0.62, 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 | 0.62 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.56 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2014 | 0.59 |
The correlation between GAA and SWOBX has been stable across timeframes, ranging from 0.55 to 0.62 - a consistent structural relationship.
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Return for Risk
GAA vs. SWOBX — Risk / Return Rank
GAA
SWOBX
GAA vs. SWOBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Cambria Global Asset Allocation ETF (GAA) and Schwab Balanced Fund™ (SWOBX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| GAA | SWOBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.32 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.64 | 2.43 | +1.22 |
| Martin ratioReturn relative to average drawdown | 13.71 | 10.43 | +3.28 |
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Drawdowns
GAA vs. SWOBX - Drawdown Comparison
The maximum GAA drawdown since its inception was -26.57%, smaller than the maximum SWOBX drawdown of -35.99%. Use the drawdown chart below to compare losses from any high point for GAA and SWOBX.
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Drawdown Indicators
| GAA | SWOBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.57% | -35.99% | +9.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.78% | -6.58% | +0.80% |
Max Drawdown (3Y)Largest decline over 3 years | -7.18% | -11.72% | +4.54% |
Max Drawdown (5Y)Largest decline over 5 years | -18.47% | -28.30% | +9.83% |
Max Drawdown (10Y)Largest decline over 10 years | -26.57% | -28.30% | +1.73% |
Current DrawdownCurrent decline from peak | -0.53% | -0.84% | +0.31% |
Average DrawdownAverage peak-to-trough decline | -3.84% | -6.21% | +2.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.53% | 1.53% | 0.00% |
Volatility
GAA vs. SWOBX - Volatility Comparison
The current volatility for Cambria Global Asset Allocation ETF (GAA) is 3.14%, while Schwab Balanced Fund™ (SWOBX) has a volatility of 3.54%. This indicates that GAA experiences smaller price fluctuations and is considered to be less risky than SWOBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| GAA | SWOBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.14% | 3.54% | -0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 7.80% | 7.38% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.27% | 9.07% | +0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.32% | 14.03% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.12% | 12.91% | -1.79% |
GAA vs. SWOBX - Expense Ratio Comparison
GAA has a 0.41% expense ratio, which is higher than SWOBX's 0.00% expense ratio.
Dividends
GAA vs. SWOBX - Dividend Comparison
GAA's dividend yield for the trailing twelve months is around 3.58%, less than SWOBX's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GAA Cambria Global Asset Allocation ETF | 3.58% | 4.24% | 3.88% | 3.73% | 6.05% | 4.21% | 2.73% | 3.32% | 3.01% | 2.36% | 2.82% | 2.49% |
SWOBX Schwab Balanced Fund™ | 5.20% | 5.47% | 4.94% | 5.67% | 10.21% | 6.47% | 2.97% | 5.21% | 7.11% | 3.20% | 7.83% | 7.66% |
Frequently Asked Questions
GAA and SWOBX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SWOBX has higher volatility (3.54%) compared to GAA (3.14%). In terms of maximum drawdown, GAA dropped -26.57% vs SWOBX's -35.99%.
GAA currently has the higher Sharpe Ratio (2.28 vs 1.76), 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.
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