ITIOX vs. SWRSX

Last updated Jun 4, 2026

ITIOX (Transamerica Inflation Opportunities Fund) and SWRSX (Schwab Treasury Inflation Protected Securities Index Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, ITIOX returned 2.80%/yr vs 2.66%/yr for SWRSX. Their correlation of 0.87 suggests significant overlap in exposure. ITIOX charges 0.65%/yr vs 0.05%/yr for SWRSX.

Performance

ITIOX vs. SWRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Transamerica Inflation Opportunities Fund (ITIOX) 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, ITIOX achieves a 1.51% return, which is significantly lower than SWRSX's 1.72% return. Over the past 10 years, ITIOX has outperformed SWRSX with an annualized return of 2.80%, while SWRSX has yielded a comparatively lower 2.66% annualized return.

ITIOX

• 1D: 0.00%
• 1M: 0.39%
• YTD: 1.51%
• 6M: 1.14%
• 1Y: 4.99%
• 3Y*: 4.39%
• 5Y*: 1.47%
• 10Y*: 2.80%

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)

ITIOX vs. SWRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ITIOX Transamerica Inflation Opportunities Fund	1.51%	6.10%	2.13%	5.96%	-10.81%	4.02%	8.95%	8.79%	-1.99%	4.06%
SWRSX Schwab Treasury Inflation Protected Securities Index Fund	1.72%	6.84%	1.95%	3.80%	-12.01%	5.83%	10.88%	8.38%	-1.32%	2.69%

Correlation

The correlation between ITIOX and SWRSX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.87

The correlation between ITIOX and SWRSX has been stable across timeframes, ranging from 0.87 to 0.90 - a consistent structural relationship.

Return for Risk

ITIOX vs. SWRSX — Risk / Return Rank

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

ITIOX

ITIOX Risk / Return Rank: 41
ITIOX Sharpe Ratio Rank: 35
ITIOX Sortino Ratio Rank: 39
ITIOX Omega Ratio Rank: 36
ITIOX Calmar Ratio Rank: 53
ITIOX Martin Ratio Rank: 40

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.

ITIOX vs. SWRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Transamerica Inflation Opportunities Fund (ITIOX) 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.

	ITIOX	SWRSX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.61	+0.12
Sortino ratio: Return per unit of downside risk	2.61	2.47	+0.14
Omega ratio: Gain probability vs. loss probability	1.32	1.30	+0.02
Calmar ratio: Return relative to maximum drawdown	2.80	2.73	+0.07
Martin ratio: Return relative to average drawdown	8.69	8.25	+0.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITIOX vs. SWRSX - Sharpe Ratio Comparison

The current ITIOX Sharpe Ratio is 1.73, which is comparable to the SWRSX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of ITIOX 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

	ITIOX	SWRSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	1.61	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.20	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.63	0.50	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.58	-0.01

Drawdowns

ITIOX vs. SWRSX - Drawdown Comparison

The maximum ITIOX drawdown since its inception was -13.98%, roughly equal to the maximum SWRSX drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for ITIOX and SWRSX.

Drawdown Indicators

	ITIOX	SWRSX	Difference
Max Drawdown Largest peak-to-trough decline	-13.98%	-14.29%	+0.31%
Max Drawdown (1Y) Largest decline over 1 year	-1.79%	-1.90%	+0.11%
Max Drawdown (3Y) Largest decline over 3 years	-4.04%	-4.46%	+0.42%
Max Drawdown (5Y) Largest decline over 5 years	-13.98%	-14.29%	+0.31%
Max Drawdown (10Y) Largest decline over 10 years	-13.98%	-14.29%	+0.31%
Current Drawdown Current decline from peak	0.00%	-0.10%	+0.10%
Average Drawdown Average peak-to-trough decline	-2.69%	-3.72%	+1.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	0.63%	-0.05%

Volatility

ITIOX vs. SWRSX - Volatility Comparison

Transamerica Inflation Opportunities Fund (ITIOX) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) have volatilities of 0.82% and 0.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ITIOX	SWRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.82%	0.86%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	2.02%	2.20%	-0.18%
Volatility (1Y) Calculated over the trailing 1-year period	2.91%	3.26%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.98%	6.04%	-1.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	5.37%	-0.92%

ITIOX vs. SWRSX - Expense Ratio Comparison

ITIOX has a 0.65% expense ratio, which is higher than SWRSX's 0.05% expense ratio.

Dividends

ITIOX vs. SWRSX - Dividend Comparison

ITIOX's dividend yield for the trailing twelve months is around 3.13%, less than SWRSX's 3.78% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ITIOX Transamerica Inflation Opportunities Fund	3.13%	3.98%	2.66%	3.12%	5.85%	3.60%	1.17%	1.29%	2.72%	1.56%	0.34%	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 ITIOX and SWRSX in my portfolio?

With a correlation of 0.90, ITIOX and SWRSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ITIOX or SWRSX?

SWRSX has higher volatility (0.86%) compared to ITIOX (0.82%). In terms of maximum drawdown, ITIOX dropped -13.98% vs SWRSX's -14.29%.

Which has better risk-adjusted returns?

ITIOX currently has the higher Sharpe Ratio (1.73 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.