RBAIX vs. SWYGX
RBAIX (T. Rowe Price Balanced Fund I Class) and SWYGX (Schwab Target 2040 Index Fund) are both mutual funds - RBAIX is a Diversified Portfolio fund actively managed by T. Rowe Price, while SWYGX is a Target Retirement Date fund managed by Charles Schwab. Over the past 5 years, RBAIX returned 7.23%/yr vs 8.81%/yr for SWYGX. With a 0.97 correlation, they move nearly in lockstep. RBAIX charges 0.47%/yr vs 0.04%/yr for SWYGX.
Performance
RBAIX vs. SWYGX - Performance Comparison
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Returns By Period
In the year-to-date period, RBAIX achieves a 6.25% return, which is significantly lower than SWYGX's 9.93% return.
RBAIX
- 1D
- -0.27%
- 1M
- 0.33%
- YTD
- 6.25%
- 6M
- 5.80%
- 1Y
- 16.88%
- 3Y*
- 14.25%
- 5Y*
- 7.23%
- 10Y*
- 9.92%
SWYGX
- 1D
- -0.09%
- 1M
- 1.37%
- YTD
- 9.93%
- 6M
- 9.32%
- 1Y
- 22.19%
- 3Y*
- 16.81%
- 5Y*
- 8.81%
- 10Y*
- —
RBAIX vs. SWYGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RBAIX T. Rowe Price Balanced Fund I Class | 6.25% | 16.23% | 11.87% | 18.12% | -17.14% | 13.45% | 14.64% | 22.71% | -4.82% | 17.68% |
SWYGX Schwab Target 2040 Index Fund | 9.93% | 17.57% | 12.83% | 19.45% | -16.94% | 15.68% | 14.19% | 23.63% | -6.62% | 19.12% |
Correlation
The correlation between RBAIX and SWYGX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2016 | 0.97 |
The correlation between RBAIX and SWYGX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.
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Return for Risk
RBAIX vs. SWYGX — Risk / Return Rank
RBAIX
SWYGX
RBAIX vs. SWYGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Balanced Fund I Class (RBAIX) 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.
| RBAIX | SWYGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.41 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.48 | 3.10 | -0.61 |
| Martin ratioReturn relative to average drawdown | 10.92 | 13.62 | -2.70 |
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Drawdowns
RBAIX vs. SWYGX - Drawdown Comparison
The maximum RBAIX drawdown since its inception was -25.49%, smaller than the maximum SWYGX drawdown of -27.62%. Use the drawdown chart below to compare losses from any high point for RBAIX and SWYGX.
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Drawdown Indicators
| RBAIX | SWYGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.49% | -27.62% | +2.13% |
Max Drawdown (1Y)Largest decline over 1 year | -7.11% | -7.50% | +0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -10.40% | -12.96% | +2.56% |
Max Drawdown (5Y)Largest decline over 5 years | -23.32% | -24.07% | +0.75% |
Max Drawdown (10Y)Largest decline over 10 years | -25.49% | — | — |
Current DrawdownCurrent decline from peak | -0.63% | -0.40% | -0.23% |
Average DrawdownAverage peak-to-trough decline | -3.74% | -4.15% | +0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.61% | 1.70% | -0.09% |
Volatility
RBAIX vs. SWYGX - Volatility Comparison
The current volatility for T. Rowe Price Balanced Fund I Class (RBAIX) is 3.25%, while Schwab Target 2040 Index Fund (SWYGX) has a volatility of 3.95%. This indicates that RBAIX experiences smaller price fluctuations and is considered to be less risky 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
| RBAIX | SWYGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.25% | 3.95% | -0.70% |
Volatility (6M)Calculated over the trailing 6-month period | 7.41% | 8.50% | -1.09% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.78% | 10.37% | -1.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.02% | 13.26% | -2.24% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.58% | 14.03% | -2.45% |
RBAIX vs. SWYGX - Expense Ratio Comparison
RBAIX has a 0.47% expense ratio, which is higher than SWYGX's 0.04% expense ratio.
Dividends
RBAIX vs. SWYGX - Dividend Comparison
RBAIX's dividend yield for the trailing twelve months is around 7.10%, more than SWYGX's 2.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
RBAIX T. Rowe Price Balanced Fund I Class | 7.10% | 7.44% | 7.43% | 3.92% | 5.27% | 9.43% | 4.70% | 4.97% | 8.56% | 6.16% | 3.55% |
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% |
Frequently Asked Questions
With a correlation of 0.96, RBAIX and SWYGX 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.
SWYGX has higher volatility (3.95%) compared to RBAIX (3.25%). In terms of maximum drawdown, RBAIX dropped -25.49% vs SWYGX's -27.62%.
SWYGX currently has the higher Sharpe Ratio (2.24 vs 2.02), 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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