QCILIX vs. SWRSX

Last updated Jun 24, 2026

QCILIX (CREF Inflation-Linked Bond Account Class R3) and SWRSX (Schwab Treasury Inflation Protected Securities Index Fund) are both Inflation-Protected Bonds funds. Over the past year, QCILIX returned 3.61% vs 3.57% for SWRSX. Their correlation of 0.91 suggests significant overlap in exposure. QCILIX charges 0.19%/yr vs 0.05%/yr for SWRSX.

Performance

QCILIX vs. SWRSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in CREF Inflation-Linked Bond Account Class R3 (QCILIX) 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, QCILIX achieves a 0.90% return, which is significantly higher than SWRSX's 0.84% return.

QCILIX

• 1D: -0.23%
• 1M: -0.13%
• YTD: 0.90%
• 6M: 1.04%
• 1Y: 3.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SWRSX

• 1D: -0.38%
• 1M: -0.10%
• YTD: 0.84%
• 6M: 0.94%
• 1Y: 3.57%
• 3Y*: 3.65%
• 5Y*: 0.94%
• 10Y*: 2.51%

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

QCILIX vs. SWRSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QCILIX CREF Inflation-Linked Bond Account Class R3	0.90%	7.47%	0.00%
SWRSX Schwab Treasury Inflation Protected Securities Index Fund	0.84%	6.84%	0.00%

Correlation

The correlation between QCILIX and SWRSX is 0.91, 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	0.91
Correlation (All Time) Calculated using the full available price history since Dec 27, 2024	0.91

The correlation between QCILIX and SWRSX has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

QCILIX vs. SWRSX — Risk / Return Rank

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

QCILIX

QCILIX Risk / Return Rank: 43
QCILIX Sharpe Ratio Rank: 33
QCILIX Sortino Ratio Rank: 35
QCILIX Omega Ratio Rank: 33
QCILIX Calmar Ratio Rank: 60
QCILIX Martin Ratio Rank: 52

SWRSX

SWRSX Risk / Return Rank: 21
SWRSX Sharpe Ratio Rank: 18
SWRSX Sortino Ratio Rank: 18
SWRSX Omega Ratio Rank: 17
SWRSX Calmar Ratio Rank: 29
SWRSX Martin Ratio Rank: 25

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.

QCILIX vs. SWRSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CREF Inflation-Linked Bond Account Class R3 (QCILIX) 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.

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.

	QCILIX	SWRSX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.12	+0.40
Sortino ratio: Return per unit of downside risk	2.26	1.68	+0.58
Omega ratio: Gain probability vs. loss probability	1.28	1.20	+0.08
Calmar ratio: Return relative to maximum drawdown	2.84	1.88	+0.96
Martin ratio: Return relative to average drawdown	10.04	5.61	+4.43

QCILIX vs. SWRSX - Sharpe Ratio Comparison

The current QCILIX Sharpe Ratio is 1.52, which is higher than the SWRSX Sharpe Ratio of 1.12. The chart below compares the historical Sharpe Ratios of QCILIX 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.

Drawdowns

QCILIX vs. SWRSX - Drawdown Comparison

The maximum QCILIX drawdown since its inception was -2.14%, smaller than the maximum SWRSX drawdown of -14.29%. Use the drawdown chart below to compare losses from any high point for QCILIX and SWRSX.

Drawdown Indicators

	QCILIX	SWRSX	Difference
Max Drawdown Largest peak-to-trough decline	-2.14%	-14.29%	+12.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.33%	-1.90%	+0.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.46%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.29%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.29%	—
Current Drawdown Current decline from peak	-1.01%	-0.96%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.33%	-3.72%	+3.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.64%	-0.26%

Volatility

QCILIX vs. SWRSX - Volatility Comparison

CREF Inflation-Linked Bond Account Class R3 (QCILIX) and Schwab Treasury Inflation Protected Securities Index Fund (SWRSX) have volatilities of 1.06% and 1.11%, 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

	QCILIX	SWRSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.06%	1.11%	-0.05%
Volatility (6M) Calculated over the trailing 6-month period	1.87%	2.33%	-0.46%
Volatility (1Y) Calculated over the trailing 1-year period	2.50%	3.21%	-0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.99%	6.02%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.99%	5.37%	-2.38%

QCILIX vs. SWRSX - Expense Ratio Comparison

QCILIX has a 0.19% expense ratio, which is higher than SWRSX's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

QCILIX vs. SWRSX - Dividend Comparison

QCILIX has not paid dividends to shareholders, while SWRSX's dividend yield for the trailing twelve months is around 3.81%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
QCILIX CREF Inflation-Linked Bond Account Class R3	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SWRSX Schwab Treasury Inflation Protected Securities Index Fund	3.81%	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 QCILIX and SWRSX in my portfolio?

With a correlation of 0.91, QCILIX 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, QCILIX or SWRSX?

SWRSX has higher volatility (1.11%) compared to QCILIX (1.06%). In terms of maximum drawdown, QCILIX dropped -2.14% vs SWRSX's -14.29%.

Which has better risk-adjusted returns?

QCILIX currently has the higher Sharpe Ratio (1.52 vs 1.12), 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.