PRWAX vs. SWYGX
PRWAX (T. Rowe Price All-Cap Opportunities Fund) and SWYGX (Schwab Target 2040 Index Fund) are both mutual funds - PRWAX is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while SWYGX is a Target Retirement Date fund managed by Charles Schwab. Over the past 5 years, PRWAX returned 9.83%/yr vs 9.08%/yr for SWYGX. Their correlation of 0.90 suggests significant overlap in exposure. PRWAX charges 0.76%/yr vs 0.04%/yr for SWYGX.
Performance
PRWAX vs. SWYGX - Performance Comparison
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Returns By Period
In the year-to-date period, PRWAX achieves a 0.66% return, which is significantly lower than SWYGX's 10.03% return.
PRWAX
- 1D
- 1.44%
- 1M
- 1.82%
- YTD
- 0.66%
- 6M
- -0.19%
- 1Y
- 14.17%
- 3Y*
- 17.66%
- 5Y*
- 9.83%
- 10Y*
- 17.60%
SWYGX
- 1D
- 0.91%
- 1M
- 1.47%
- YTD
- 10.03%
- 6M
- 9.80%
- 1Y
- 23.24%
- 3Y*
- 16.09%
- 5Y*
- 9.08%
- 10Y*
- —
PRWAX vs. SWYGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRWAX T. Rowe Price All-Cap Opportunities Fund | 0.66% | 16.37% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
SWYGX Schwab Target 2040 Index Fund | 10.03% | 17.57% | 12.83% | 19.45% | -16.94% | 15.68% | 14.19% | 23.63% | -6.62% | 19.12% |
Correlation
The correlation between PRWAX and SWYGX is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016 | 0.90 |
The correlation between PRWAX and SWYGX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
PRWAX vs. SWYGX — Risk / Return Rank
PRWAX
SWYGX
PRWAX vs. SWYGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price All-Cap Opportunities Fund (PRWAX) and Schwab Target 2040 Index Fund (SWYGX). 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.
| PRWAX | SWYGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.63 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.41 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.00 | 3.07 | -2.07 |
| Martin ratioReturn relative to average drawdown | 3.45 | 13.49 | -10.04 |
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Drawdowns
PRWAX vs. SWYGX - Drawdown Comparison
The maximum PRWAX drawdown since its inception was -55.06%, which is greater than SWYGX's maximum drawdown of -27.62%. Use the drawdown chart below to compare losses from any high point for PRWAX and SWYGX.
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Drawdown Indicators
| PRWAX | SWYGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.06% | -27.62% | -27.44% |
Max Drawdown (1Y)Largest decline over 1 year | -14.09% | -7.50% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -12.96% | -6.10% |
Max Drawdown (5Y)Largest decline over 5 years | -29.38% | -24.07% | -5.31% |
Max Drawdown (10Y)Largest decline over 10 years | -30.50% | — | — |
Current DrawdownCurrent decline from peak | -1.32% | -0.31% | -1.01% |
Average DrawdownAverage peak-to-trough decline | -9.89% | -4.16% | -5.73% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.06% | 1.70% | +2.36% |
Volatility
PRWAX vs. SWYGX - Volatility Comparison
T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a higher volatility of 5.44% compared to Schwab Target 2040 Index Fund (SWYGX) at 4.09%. This indicates that PRWAX's price experiences larger fluctuations and is considered to be riskier than SWYGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PRWAX | SWYGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.44% | 4.09% | +1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 11.62% | 8.54% | +3.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.05% | 10.36% | +3.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.72% | 13.26% | +4.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.77% | 14.04% | +4.73% |
PRWAX vs. SWYGX - Expense Ratio Comparison
PRWAX has a 0.76% expense ratio, which is higher than SWYGX's 0.04% expense ratio.
Dividends
PRWAX vs. SWYGX - Dividend Comparison
PRWAX's dividend yield for the trailing twelve months is around 8.29%, more than SWYGX's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRWAX T. Rowe Price All-Cap Opportunities Fund | 8.29% | 8.35% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
SWYGX Schwab Target 2040 Index Fund | 2.03% | 2.23% | 2.28% | 2.06% | 2.03% | 1.80% | 1.72% | 1.95% | 2.21% | 1.44% | 1.13% | 0.00% |
Frequently Asked Questions
PRWAX and SWYGX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWAX has higher volatility (5.44%) compared to SWYGX (4.09%). In terms of maximum drawdown, PRWAX dropped -55.06% vs SWYGX's -27.62%.
SWYGX currently has the higher Sharpe Ratio (2.22 vs 1.00), 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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