MLLIX vs. SCHB

Last updated Aug 1, 2026

MLLIX (MFS Lifetime Income Fund) and SCHB (Schwab U.S. Broad Market ETF) are both funds - MLLIX is a Target Retirement Date fund managed by MFS, while SCHB is a Large Cap Blend Equities fund tracking the Dow Jones U.S. Broad Stock Market Index. Over the past 10 years, MLLIX returned 4.87%/yr vs 14.63%/yr for SCHB. Their 0.80 correlation means they have sometimes moved together and sometimes differently. MLLIX charges 0.00%/yr vs 0.03%/yr for SCHB.

Performance

MLLIX vs. SCHB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime Income Fund (MLLIX) and Schwab U.S. Broad Market ETF (SCHB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLLIX achieves a 3.48% return, which is significantly lower than SCHB's 10.58% return. Over the past 10 years, MLLIX has underperformed SCHB with an annualized return of 4.87%, while SCHB has yielded a comparatively higher 14.63% annualized return.

MLLIX

• 1D: 0.32%
• 1M: -0.32%
• 6M: 2.18%
• YTD: 3.48%
• 1Y: 7.47%
• 3Y*: 7.16%
• 5Y*: 3.05%
• 10Y*: 4.87%
• ALL TIME*: 5.07%

SCHB

• 1D: 0.59%
• 1M: -0.07%
• 6M: 8.84%
• YTD: 10.58%
• 1Y: 21.74%
• 3Y*: 18.96%
• 5Y*: 11.79%
• 10Y*: 14.63%
• ALL TIME*: 14.17%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MLLIX MFS Lifetime Income Fund	$0.00	$0.00	$0.00
SCHB Schwab U.S. Broad Market ETF	$212.56M	$205.35M	$255.93M

MLLIX vs. SCHB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLLIX MFS Lifetime Income Fund	3.48%	9.32%	5.62%	9.12%	-11.99%	6.63%	10.06%	13.91%	-2.37%	8.24%
SCHB Schwab U.S. Broad Market ETF	10.58%	16.94%	23.93%	26.16%	-19.46%	25.84%	20.76%	30.79%	-5.43%	21.20%

Correlation

The correlation between MLLIX and SCHB is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.77
Correlation (10Y) Provides a long-term view across more market conditions.	0.78
Correlation (All Time) Calculated using the full available price history since Nov 3, 2009	0.80

The correlation between MLLIX and SCHB has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

MLLIX vs. SCHB — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MLLIX

MLLIX Risk / Return Rank: 66
MLLIX Sharpe Ratio Rank: 70
MLLIX Sortino Ratio Rank: 72
MLLIX Omega Ratio Rank: 69
MLLIX Calmar Ratio Rank: 51
MLLIX Martin Ratio Rank: 66

SCHB

SCHB Risk / Return Rank: 67
SCHB Sharpe Ratio Rank: 67
SCHB Sortino Ratio Rank: 63
SCHB Omega Ratio Rank: 64
SCHB Calmar Ratio Rank: 64
SCHB Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MLLIX vs. SCHB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime Income Fund (MLLIX) and Schwab U.S. Broad Market ETF (SCHB). 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.

	MLLIX	SCHB	Difference
Sharpe ratio: Return per unit of total volatility	1.69	1.51	+0.18
Sortino ratio: Return per unit of downside risk	2.51	2.11	+0.40
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	1.97	2.22	-0.25
Martin ratio: Return relative to average drawdown	8.67	9.54	-0.87

MLLIX vs. SCHB - Sharpe Ratio Comparison

The current MLLIX Sharpe Ratio is 1.69, which is comparable to the SCHB Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of MLLIX and SCHB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLLIX vs. SCHB - Drawdown Comparison

The maximum MLLIX drawdown since its inception was -17.32%, smaller than the maximum SCHB drawdown of -35.27%. Use the drawdown chart below to compare losses from any high point for MLLIX and SCHB.

Drawdown Indicators

	MLLIX	SCHB	Difference
Max Drawdown Largest peak-to-trough decline	-17.32%	-35.27%	+17.95%
Max Drawdown (1Y) Largest decline over 1 year	-3.86%	-8.91%	+5.05%
Max Drawdown (3Y) Largest decline over 3 years	-4.93%	-19.34%	+14.41%
Max Drawdown (5Y) Largest decline over 5 years	-16.08%	-25.41%	+9.33%
Max Drawdown (10Y) Largest decline over 10 years	-16.08%	-35.27%	+19.19%
Current Drawdown Current decline from peak	-0.64%	-1.34%	+0.70%
Average Drawdown Average peak-to-trough decline	-2.14%	-4.09%	+1.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	2.08%	-1.20%

Volatility

MLLIX vs. SCHB - Volatility Comparison

The current volatility for MFS Lifetime Income Fund (MLLIX) is 1.06%, while Schwab U.S. Broad Market ETF (SCHB) has a volatility of 3.48%. This indicates that MLLIX experiences smaller price fluctuations and is considered to be less risky than SCHB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLLIX	SCHB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	3.48%	-2.42%
Volatility (6M) Calculated over the trailing 6-month period	3.66%	10.28%	-6.62%
Volatility (1Y) Calculated over the trailing 1-year period	4.51%	13.12%	-8.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.95%	17.36%	-11.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.71%	18.32%	-12.61%

MLLIX vs. SCHB - Expense Ratio Comparison

MLLIX has a 0.00% expense ratio, which is lower than SCHB's 0.03% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MLLIX vs. SCHB - Dividend Comparison

MLLIX's dividend yield for the trailing twelve months is around 7.43%, more than SCHB's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLLIX MFS Lifetime Income Fund	7.43%	6.01%	6.26%	3.70%	3.92%	6.12%	3.18%	3.80%	4.20%	3.56%	4.21%	2.51%
SCHB Schwab U.S. Broad Market ETF	1.04%	1.11%	1.24%	1.40%	1.61%	1.21%	1.63%	1.80%	2.00%	1.65%	1.86%	2.00%

Frequently Asked Questions

Can I hold both MLLIX and SCHB in my portfolio?

MLLIX and SCHB have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLLIX or SCHB?

SCHB has higher volatility (3.48%) compared to MLLIX (1.06%). In terms of maximum drawdown, MLLIX dropped -17.32% vs SCHB's -35.27%.

Which has better risk-adjusted returns?

MLLIX currently has the higher Sharpe Ratio (1.69 vs 1.51), 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.